Jinjia Group: Restrictions Lifted on Controller, Investigation and Detention on Director

Regulations by 2FIRSTS, edited by Sophia

May.06.2024

Jinjia Group: Restrictions Lifted on Controller, Investigation and Detention on Director

Recent announcements from Jinjia Corporation (002191) reveal lifted restrictions on Qiao Luyu but investigation and detention of Li Dehua.

Recently, listed company Jinjia Group (002191) on the Shenzhen Stock Exchange has issued a series of announcements. Firstly, the disciplinary commission in Enyang District, Bazhong City has lifted the detention measures against Qiao Luyu. Secondly, the company's director and deputy general manager, Li Dehua, has been placed under investigation and detained.

According to relevant documents issued by the Supervision Committee of Enyang District, Bazhong City, the actual controller and chairman of the company, Qiao Luyu, is under investigation and has been placed under detention. On April 27, 2024, the company received a notice from the Supervision Committee of Enyang District, Bazhong City, lifting the detention of Qiao Luyu (Enjianjie Lutong [2024] No. 2), indicating that the Supervision Committee of Enyang District, Bazhong City has lifted the detention measures against Qiao Luyu. Currently, Qiao Luyu is able to carry out his duties as the chairman and legal representative of the company as normal, and the company's director and general manager, Hou Xudong, no longer acts on behalf of the company's chairman and legal representative.

On May 1st, the company received a notification from the Jinzhou District Supervisory Committee in Dalian City regarding the investigation and detention of the company's director and deputy general manager, Li Dehua.

Jiangjia Group stated that the company has a sound governance structure and internal control mechanism, operating in compliance with laws, regulations, and rules such as the Company Law, the Shenzhen Stock Exchange Listing Rules, the Corporate Governance Guidelines for Listed Companies, and the company's articles of association. The company has already made proper arrangements for the work related to Li Dehua, and the ongoing investigation will not have a significant impact on the company's daily operations. All production and operational activities of the company are proceeding as usual.

Jinjia Corporation stated that as of the date of this announcement, the company is not aware of the progress and conclusion of the investigation. The company will continue to monitor the developments of the investigation and adhere to relevant laws and regulations, fulfill its disclosure obligations in a timely manner, and alert of any related risks.

According to the 2023 annual report of Jinjia Group, Li Dehua was born in 1968, is of Chinese nationality, does not have permanent residency abroad, has a high school education, and has been employed by Jinjia Group since 1996. He currently serves as a director, executive deputy general manager, and general manager of the production and marketing branch of the company, as well as holding other positions such as executive director of Shenzhen Qianhai Blueberry Culture Communication Co., Ltd. In 2023, Li Dehua received a total pre-tax compensation of 2.361 million yuan from the company.

Also Read:

[1] Jinjia Group Appoints Interim Chairman and Legal Representative

[2] Jinjia Group: Continued Investment in E-Cigarettes

[3] Jinjia Group to Invest £500,000 ($634,000) for Establishment of Subsidiary in London

#Asia #China #Regulation #Major companies #jinjia

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