ST Jinggu: Former Controlling Shareholder of Original Subsidiary Suspected of Contract Fraud Case Has Been Filed

MetaMuskRat · 2026-03-25T01:56:08+00:00

ST Jinggu Announcement: Cui Huijun, the former actual controller of the company's controlling subsidiary Huiyin Timber, has been subject to a criminal investigation on suspicion of contract fraud. Cui Huijun failed to disclose his private lending situation. The company has transferred its equity stake in Huiyin Timber in 2025 and deconsolidated it from the consolidated financial statements. The impact of the case remains uncertain.

MetaMuskRat

2026-03-25 01:56:08

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People’s Financial News, March 23 — ST Jinggu (600265) announced on March 23 that the company recently received a “Notice of Case Filing” issued by the Tang County Public Security Bureau in Hebei Province. The company’s former controlling subsidiary, Tang County Huiyin Wood Industry Co., Ltd. (“Huiyin Wood”), is under investigation for suspected contract fraud involving its actual controller, Cui Huijun. The company completed a major asset restructuring in 2023, acquiring a 51% stake in Huiyin Wood. During the acquisition process, Cui Huijun and Wang Lanchun, as information disclosure obligors, failed to truthfully disclose to the company and intermediaries that they were engaged in private lending activities through Huiyin Wood, continuously concealing the existence of substantial private loans. To effectively mitigate risks, the company transferred its 51% stake in Huiyin Wood in December 2025. Huiyin Wood was divested and is no longer included in the company’s consolidated financial statements. The impact of this case on the company remains uncertain.

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