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On the evening of August 16, Shaanxi Jinye disclosed that the company recently learned that the company's actual controller, chairman of the board and president Yuan Hanyuan is currently under residential surveillance at a designated location by the public security authorities due to related matters.

Shaanxi Jinye said that the company has not yet been informed of the progress and conclusion of the relevant matters. The company has made proper arrangements for the relevant work. As of the date of disclosure of this announcement, the company's control has not changed, the company's board of directors is operating normally, the daily operation and management is in the charge of the senior management team, and the production and operation of the company and its subsidiaries are carried out in an orderly manner.

Shaanxi Jinye’s 2023 annual report shows that the company’s current business categories cover three major categories: education industry, tobacco supporting industry, and medical and nursing industry, among which tobacco supporting industry accounts for 59.12% of the company’s total revenue.

A reporter from Shanghai Securities News noticed that at the beginning of this year, the Shaanxi Securities Regulatory Bureau had issued a warning letter to Shaanxi Jinye and Yuan Hanyuan and Yan Kai (the board secretary).

The warning letter shows that after investigation, the total investment amount of the new functional area construction project of Xi'an Mingde Polytechnic, a subsidiary of Shaanxi Jinye, is about 730 million yuan (283 million yuan for the first phase project and 447 million yuan for the second phase project), which meets the review standards of the company's board of directors and shareholders' meeting. The first phase project will start construction in September 2021, and the second phase project will start construction in September 2022. However, Shaanxi Jinye did not hold a board meeting until April 27, 2022 to review and approve the "Proposal on Investing in the Construction of the New Functional Area of ​​Xi'an Mingde Polytechnic", and did not hold a board meeting until March 15, 2023 to review and approve the "Proposal on Investing in the Construction of the Second Phase of the New Functional Area of ​​Xi'an Mingde Polytechnic".

Shaanxi Jinye failed to review and disclose the aforementioned major investment projects in a timely manner, which is not in compliance with the relevant provisions of Article 3, paragraph 1, and Article 22, paragraph 1, and paragraph 2, item 1 of the "Measures for the Administration of Information Disclosure of Listed Companies" (hereinafter referred to as the "Measures").

According to the second paragraph of Article 51 of the Measures, Shaanxi Jinye's Chairman and President Yuan Hanyuan and Board Secretary Yan Kai are primarily responsible for the above-mentioned violations. According to the relevant provisions of Article 52 of the Measures, the Shaanxi Securities Regulatory Bureau decided to take administrative supervision measures of issuing warning letters to Shaanxi Jinye and Yuan Hanyuan and Yan Kai.

In 2023, Yuan Hanyuan and others were also issued a warning letter by the Shaanxi Securities Regulatory Bureau for "Shaanxi Jinye constitutes the misappropriation of funds by the controlling shareholder and its related parties." (Shangguan News)