According to Zhengyuan Wisdom's announcement, the company received a “Criminal Ruling” from the Zhejiang Supreme People's Court served by Chen Jian, the actual controller, and the final ruling upheld the original sentence. Earlier, Chen Jian was sentenced to three years in prison, suspended for three years and six months, and fined 6.5 million yuan for manipulating the securities market. The company said that Chen Jian is not a director or executive of the company. The ruling is a personal act and will not have a significant impact on production and operation. Currently, the company is operating normally.

Disclaimer:Webull uses external vendor Google Translation Service for news translations where we endeavour to ensure these are correct, however, we recommend that you please double-check this information accordingly. Webull is not responsible for translation errors or issues.