Gronghui Song du Service (09608.HK) issued an announcement on December 24 that Yu Jianwu, the company's controlling shareholder, had received a notice from the China Securities Regulatory Commission. On December 23, 2021, the board of directors received Yu JianwuThe China Securities Regulatory Commission has completed theYu Jianwu was suspected of conducting an investigation launched by the Stock Insider Exchange and spoke to Yu Jianwu on December 22, 2021.Issue the decision on Administrative punishment ([2021]No. 105). The China Securities Regulatory Commission decided to confiscateYu Jianwu received a payment of about 36.8 million yuan on the exchange and imposed a further fine of about 110.4 million yuan.
According to the decision, Yu Jianwu must pay the fine and forfeiture to the CSRC within 15 days from the date of receipt of the decision. If Yu Jianwu does not accept the written decision, he may apply to the CSRC for administrative reconsideration within 60 days from the date of receipt of the written decision, or file an administrative action with the people's court with jurisdiction within 6 months from the date of receipt of the written decision. During the period of administrative reconsideration and administrative litigation, the written decision will not be suspended. Yu Jianwu confirmed that he would apply for administrative reconsideration or bring an administrative lawsuit within the prescribed time limit.
The management of the company learned from Yu Jianwu that the shares involved in the transaction had nothing to do with the company's shares. As of the date of the announcement, the Group's business operations continued as usual. To the best of the directors' knowledge, knowledge and belief after making all reasonable enquiries, the decision has nothing to do with the Group and will not affect the day-to-day business operation of the Group.