On November 4, Shanying International opened sharply lower and fell to a standstill during the intraday period. According to the news, Mountain Eagle International announced on the evening of November 3 that the company received a notice from Wu Mingwu, the company's actual controller and chairman, and that it received a “Notice of Case Filing” issued by the Securities Regulatory Commission on the same day. The Securities Regulatory Commission decided to file a case against Wu Mingwu due to suspicion of insider trading and short-term trading.

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