On June 24, Gelun Hui announced that Wisdom Don (301315.SZ) recently received a "detention notice" signed by the Luoning County Supervisory Committee, and Mr. Mao Yuzhong, the company's actual controller and chairman of the board of directors, has been detained.
Other directors, senior executives and supervisors of the company are performing their duties normally. The company has a sound governance structure and business control process. The board of directors and supervisors shall perform their relevant duties and operations in accordance with the law, and the daily management and operation of the company and its subsidiaries shall be undertaken by the company's executive team, and the production and operation management of the company and its subsidiaries shall be normal.
As of the date of this announcement, the company has not yet been informed of the progress and conclusions of the investigation.