The controlling shareholder of Red Bean Stock, Zhou Haijiang, responded to the accusation of "frequent cashing out": no reduction, 12 additional purchases.

On September 25th, Jin10 Data reported that Hongdou Group has recently become a focus of attention. There have been rumors circulating online about the frequent cashing and profiting of the Zhou family, the actual controller of the company. On the afternoon of September 24th, Zhou Haijiang, the Chairman of Hongdou Group and the actual controller of Hongdou Shares, responded in an interview with reporters that since the listing of Hongdou Shares in 2001, he has not only not reduced his holdings, but has also increased his holdings of Hongdou Shares 12 times. It is understood that the so-called ‘frequent reduction of holdings and cashing out’ mentioned by the outside world is actually the reduction of holdings by Hongdou Group. A person related to Hongdou Group further stated that the funds obtained were all transferred to the account of Hongdou Group and used for the development of the group, without going into personal pockets.