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On the evening of August 15, Hesheng Silicon Industry announced that the company recently received a "Criminal Judgment" issued by the Pinghu Municipal People's Court of Zhejiang Province.

The defendant in the case is Fang Hongcheng, the former director and general manager of the company, and the victim unit in the case is Hesheng Silicon Industry.

After legal review,The defendant Fang Hongcheng was convicted of the crime of accepting bribes as a non-state employee and sentenced to four years and six months in prison and a fine of RMB one million.

In addition, according to the Daily Economic News, the court found that Fang Hongcheng was not guilty of embezzlement brought by the public prosecutor. Fang Hongxing, the brother of Fang Hongcheng, was also sentenced to four years and two months in prison for the crime of accepting bribes as a non-state employee.

Fang Hongcheng's family told reporters that they would appeal the court's decision.

In the announcement, Hesheng Silicon Industry recalled that the company learned from the public security organs on November 18, 2022 that the company's former director and general manager Fang Hongcheng had been investigated by the public security organs for suspected embezzlement and transferred to the procuratorate for review and prosecution. The criminal behavior involved occurred during his tenure in the company.

Afterwards, the People's Procuratorate of Pinghu City, Zhejiang Province, accused the defendant Fang Hongcheng of the crime of bribery and embezzlement by non-state personnel, and filed a public prosecution with the People's Court of Pinghu City, Zhejiang Province on May 31, 2023. The People's Court of Pinghu City, Zhejiang Province accepted the case on June 2, 2023, formed a collegial panel in accordance with the law, held a pre-court meeting, and then held a public hearing to hear the case.