Suzhou Kelida Decoration Co., Ltd., listed as ST Kelida on the Shanghai Stock Exchange under ticker 603828, announced on the evening of September 24 that it had received an administrative penalty decision from the Jiangsu Regulatory Bureau of the China Securities Regulatory Commission. For failing to disclose related-party non-operating fund occupation in a timely manner and for material omissions and false records in relevant periodic reports, the company was ordered to rectify, given a warning, and fined 9 million yuan. The investigation found that from January 2020 to December 2022, Kelida and its subsidiary Kehuasheng Urban Construction Planning and Design Co., Ltd., without genuine business substance, transferred funds under the guise of labor or project advance payments through intermediaries to bank accounts of the controlling shareholder Suzhou Kelida Group Co., Ltd. and Gu Yiming and other related parties, forming a total of 1.7028202 billion yuan in related-party non-operating fund occupation. The annual amounts accounted for 27.61 percent, 51.90 percent, and 66.05 percent of the net assets recorded in the reports for the respective periods. The Jiangsu Regulatory Bureau gave a warning to Gu Yiming, one of the company's actual controllers and chairman, and fined him 16.2 million yuan, comprising 4.2 million yuan in his capacity as chairman and 12 million yuan in his capacity as actual controller, and also imposed a five-year ban from the securities market. Director and chief financial officer Sun Zhenhua and director and executive director of Kelida Group Gu Longdi were each fined 3.8 million yuan. Supervisor and head of the finance department of Kelida Group Zhu Yi was fined 3.5 million yuan. Director and general manager Lu Chongming was fined 2.1 million yuan. As of April 22, 2026, the related parties had returned all occupied funds and interest. The company disclosed the related-party non-operating fund occupation and repayment since 2023 in its 2025 annual report on April 28. ST Kelida stated that after careful verification and judgment, this information disclosure violation does not trigger other risk warnings or mandatory delisting for major violations under the Shanghai Stock Exchange listing rules.
Suzhou Kelida Bldg &CSRC fined Kelida 9 million yuan and its chairman 16.2 million yuan with a 5-year market ban for concealing 1.7 billion yuan in related-party fund occupation and false records.
