ST Cuihua announced that its controlling shareholder and actual controller Chen Siwei, as well as Guo Yingjie, a concert party of Shenzhen Cuiyi Investment Co., Ltd., a shareholder holding more than 5% of the shares, have been placed under investigation by the China Securities Regulatory Commission for suspected illegal information disclosure. The company itself had previously been investigated twice, on February 10 and May 7, and the investigations are still ongoing. The company also faces multiple delisting risks. If it is subsequently found to have triggered mandatory delisting for major violations, it will be subject to mandatory delisting for major violations. In addition, as of the close on August 4, the company's total market capitalization was 497 million yuan, once again falling below the 500 million yuan threshold. If the total market capitalization remains below 500 million yuan for 20 consecutive trading days, the Shenzhen Stock Exchange will terminate its listing.
Shenyang Cuihua Gold and Silver Jewelry Co LtdControlling shareholder and concert party under CSRC investigation for suspected illegal information disclosure, with company facing delisting risks.
