The Jiangsu Regulatory Bureau has issued an administrative penalty decision to Kelida. The company was ordered to correct violations, given a warning, and fined 9 million yuan for failing to disclose in a timely manner a total of 1.703 billion yuan in non-operating fund occupation by related parties, as well as for major omissions and false records in periodic reports. Company chairman and actual controller Gu Yiming was fined 16.2 million yuan and banned from the securities market for five years. Other responsible persons were fined between 600,000 yuan and 3.8 million yuan. Investigation found that from January 2020 to December 2022, Kelida and its subsidiary Kehuasheng Urban Construction Planning and Design Co., Ltd., without genuine business substance, transferred funds under the guise of labor or project advance payments through intermediaries to bank accounts of the controlling shareholder Kelida Group, Gu Yiming, and other related parties, resulting in a total of 1.702 billion yuan in non-operating fund occupation by related parties, which constituted related-party transactions. The occupation amounts disclosed in the company's 2024 annual report and 2025 semi-annual report were inconsistent with the actual situation. As of April 22, 2026, the related parties had repaid all occupied funds and interest, and Kelida disclosed the relevant fund occupation and repayment situation since 2023 in its 2025 annual report.
Suzhou Kelida Bldg &Jiangsu Regulatory Bureau fined Kelida 9 million yuan and penalized its controller over undisclosed 1.7 billion yuan related-party fund occupation and false records.
