Chiba Jewelry's host brokerage firm Tohoku Securities announced on October 12 that during ongoing supervision, it was discovered that Chiba Jewelry had two types of risks. First, Chiba Jewelry was added to the list of business abnormalities by the Beijing Dongcheng District Market Supervision Administration on October 10 because “the registered domicile or place of business cannot be contacted.” Second, it was discovered that Lin Mingjie, the actual controller of Chiba Jewelry, its subsidiaries, and the company, was included as an executee. The total amount executed reached 230 million yuan, including a case of 129 million yuan for execution filed on October 8. Chiba Jewelry is an established gold store chain in Beijing. In early September, it was revealed that salary arrears were owed, and the company's actual controller “ran away.” Northeast Securities said in its latest announcement that it is still unable to get in touch with the company's actual controllers Lin Mingjie and Gao Xiaosong, the company is unable to fulfill its information disclosure obligations, management decisions can no longer be maintained normally, and there is significant uncertainty about continuing operations.

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