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on the evening of september 18, sihuan biopharma (000518.sz, share price 1.96 yuan, market value 2.018 billion yuan) announced that the company received notices from its actual controller lu keping and director lu yu that lu keping and lu yu received advance notice of administrative penalties issued by the guangdong securities regulatory bureau due to suspected illegal and irregular information disclosure by weichuang holdings.

according to the notice, lu keping was fined 22 million yuan and banned from the securities market for life; his son lu yu was fined 1.2 million yuan and 6 million yuan, and banned from the securities market for 10 years. after investigation, the matters involved in the information disclosure violations have nothing to do with sihuan bio. the company's production and operation are normal.

in addition, on september 19, sihuan bio announced that the company received the resignation application from director mr. lu yu on september 18, 2024. mr. lu yu applied to the board of directors to resign from the position of director for personal reasons, and will no longer hold any position in the company after his resignation.

lu keping and liu jun to be banned for life

vtron shares were delisted

on the evening of september 18, *st weichuang announced that the company recently received the "administrative penalty advance notice" issued by the guangdong regulatory bureau of the china securities regulatory commission. according to the notice, the investigation into the suspected information disclosure violations by the company, liu jun, lu keping and others has been completed, and the regulatory bureau intends to impose administrative penalties on the relevant parties and take market entry ban measures in accordance with the law.

the notice pointed out that *st weichuang failed to disclose the changes in the actual controller, the changes in the control of the company by the actual controller due to the agreement acquisition, the occupation of non-operating funds by related parties, etc. in a timely manner as required, and there were false records in the 2023 semi-annual report and the third quarter report. liu jun, as the acquirer, failed to fulfill the obligation to report the agreement acquisition in a timely manner as required. lu keping failed to fulfill the obligation to inform the changes in the actual controller in a timely manner.

the regulatory bureau intends to impose a fine of rmb 8.5 million on *st weichuang and a fine of rmb 22 million on lu keping, and ban them from the securities market for life. it intends to order liu jun to make corrections, give him a warning, and impose a fine of rmb 7 million, and ban him from the securities market for life. it intends to give lu yu a warning, impose a fine of rmb 6 million, and ban him from the securities market for 10 years.

in addition, *st weichuang also announced that the company received the "decision on the termination of listing of weichuang group co., ltd.'s shares" issued by the shenzhen stock exchange on september 18, 2024.

according to the shenzhen stock exchange regulations, the daily closing price of the company's stock was lower than 1 yuan for twenty consecutive trading days between july 26, 2024 and august 22, 2024, triggering the termination of stock listing as stipulated in the shenzhen stock exchange's "stock listing rules (revised in 2024)".shenzhen stock exchange decides to terminate the company's stock listingaccording to relevant regulations, the company's shares have been delisted by the shenzhen stock exchange due to the circumstances of mandatory delisting due to trading. they will not enter the delisting settlement period and will be delisted within fifteen trading days after the shenzhen stock exchange makes the delisting decision.

in recent years, weichuang shares have suffered huge losses. in 2019, the company suffered a huge loss of 1.231 billion yuan. in 2021, the company lost another 396 million yuan. previously, the company had disclosed its performance forecast, predicting that the net profit attributable to shareholders of the listed company in 2023 would be a loss of 50 million to 70 million yuan.

before delisting, the share price of weichuang was only 0.37 yuan. according to its latest financial report, the company has about 41,000 shareholders.

1.33 billion yuan "disappeared" caused financial report to be "difficult to produce"

two financial directors and general manager resigned

previously, weichuang shares caused heated discussion due to the mysterious "disappearance" of 1.3 billion yuan of funds.

on the evening of december 22, 2023, weichuang co., ltd. suddenly announced thatthe company's 1.33 billion yuan of funds were mysteriously diverted away. since then, it has been a mystery when the above huge amount of funds can be returned. on december 22, 2023, the china securities regulatory commission decided to file a case against weichuang shares for suspected violations of information disclosure laws and regulations. at the same time, the company's proposed acquirer liu jun was also investigated by the china securities regulatory commission for suspected violations of information disclosure laws and regulations. subsequently, wen jingjing, the then chief financial officer, "resigned on the spot" on december 26.

in may this year, science city (guangzhou) investment group co., ltd. (hereinafter referred to as science city group), the second largest shareholder of weichuang co., ltd., has sued liu jun, lu keping, lu yu, jiangsu sunshine group co., ltd. (hereinafter referred to as sunshine group), shenzhen bohai industrial operation group co., ltd. (hereinafter referred to as shenzhen bohai), tianjin jiaying miracle technology co., ltd. (hereinafter referred to as tianjin jiaying), and jiangxi xiling energy co., ltd. (hereinafter referred to as xiling energy) and 10 other defendants as shareholders, demanding that they jointly compensate weichuang co., ltd. for 1.327 billion yuan and corresponding interest losses.

the notice also disclosed relevant information about the incident.

on september 20, 2023, sunshine group, which is actually controlled by lu keping, and jiangxi xiling energy co., ltd. (hereinafter referred to as xiling energy), which is actually controlled by liu jun, signed the "equity transfer cooperation framework agreement", and all parties have partially fulfilled their relevant obligations. according to the agreement, xiling energy will obtain the control of zhongshu weike, the controlling shareholder of weichuang shares, through investment relations, constituting an indirect acquisition of a listed company by agreement. liu jun, the actual controller of xiling energy, constitutes the acquirer and will become the actual controller of weichuang shares within the next twelve months. liu jun acquired weichuang shares by agreement, but failed to fulfill the reporting obligations in a timely manner as required after the agreement was reached. lu keping did not inform weichuang shares of major changes in the situation of the company he controlled, and weichuang shares did not fulfill its information disclosure obligations in a timely manner.

from september 28 to october 27, 2023, liu jun actually controlled the citic bank account of weichuang co., ltd. and the citic bank account of shenzhen bohai industrial operation group co., ltd. controlled by him. without the internal fund approval of weichuang co., ltd., he transferred 1.437 billion yuan from weichuang co., ltd.'s bank account and transferred 110 million yuan in funds. the net transfer of 1.327 billion yuan was used by liu jun to repay personal debts, constituting non-operating capital occupation by related parties, accounting for 67.24% of weichuang co., ltd.'s latest audited net assets. weichuang co., ltd. failed to disclose the above matters in a timely manner as required.

as the whereabouts of this huge amount of funds have been unknown, the audit committee of the board of directors of weichuang co., ltd. failed to review and approve the company's 2023 annual financial report and internal control report by more than half. this directly led to weichuang co., ltd.'s failure to disclose the 2023 annual report and the 2024 first quarter and semi-annual reports within the statutory period.

just before the 2023 annual report was about to be disclosed, the new chief financial officer xiao xu, who had been in office for less than half a year, resigned again. on april 27, weichuang co., ltd. disclosed an announcement that the company's chief financial officer xiao xu resigned from the position of chief financial officer for personal reasons, and the responsibilities of the chief financial officer will be temporarily performed by the company's chairman lu yu. in august this year, the company's director and general manager lu yongsheng and director and audit committee member cao xiuming also announced their resignations.

lu keping has been banned from the market for life in 2020

he was once a billionaire and actually controlled several listed companies

it is worth noting that this is not the first time that "wool spinning tycoon" lu keping has been banned from the market for life.

public information shows that lu keping was born in 1944 and is 79 years old this year. he was born in xinqiao town, jiangyin city, jiangsu province. in 1979, lu keping served as the deputy secretary of the party branch of jiangyin fine wool spinning factory. in 1986, the 42-year-old lu keping served as the secretary of the party branch and director of jiangyin fine wool spinning factory. in 1993, jiangyin fine wool spinning factory was restructured and established sunshine group and a series of affiliated companies, and lu keping became the chairman of the company.

image source: video screenshot

with the listing of jiangsu sunshine, lu keping began to explore the capital market. the "sunshine group" headed by lu keping, in addition to actually controlling listed companies such as sihuan bio and jiangsu sunshine, also once controlled hairun photovoltaic, which was delisted in 2019.

in 2019, lu keping was investigated by the china securities regulatory commission. in may 2020, lu keping was fined 27.34 million yuan for multiple violations and was banned from the market for life the csrc said it had assessed that his "illegal conduct lasted for a long time, the means were particularly bad, the amount involved was particularly huge, it seriously disrupted the market order and caused serious social impact, he played a major role in major illegal activities, and caused particularly serious damage to the interests of investors."

although he was banned from the market for life in 2020, lu keping is still active in the capital market. on the evening of october 9, 2023, two companies under the sunshine group controlled by lu keping, sihuan bio and jiangsu sunshine, simultaneously announced that their actual controller lu keping received a "notice of case filing" issued by the china securities regulatory commission on the same day. the csrc decided to file a case against him for suspected illegal manipulation of the securities market. 。

according to the hurun rich list, in 2020, lu keping ranked 523rd on the list with a net worth of 11 billion yuan; in 2022, his net worth shrank to 9.5 billion yuan, ranking 663rd on the list. in 2023, lu keping has dropped out of the hurun rich list.