O-film issued a clarification announcement, denying point by point the online whistleblower report that actual controller Cai Rongjun hollowed out the listed company's assets through off-book entities. The announcement stressed that the company's transactions with Xinfeiguang and Xinsikao were fairly priced, and there were no instances of benefit transfer, free technology transfer, or fund misappropriation. It has also sent retraction notice letters to relevant media and reported the case. Specifically, O-film stated that its research and development focuses on its own business and it has not shared technology with Xinfeiguang or Xinsikao. In the past three years, it had only one transaction with Xinfeiguang, a factory rental deal worth 1.2348 million yuan. The amount of motor products purchased from Xinsikao in the past three years was approximately 324 million yuan, 432 million yuan, and 595 million yuan respectively, but the pricing was dominated by end customers and the company does not control pricing power. Previously, the company estimated a net loss attributable to the parent company of 360 million to 460 million yuan for the first half of 2026, affected by factors such as rising memory chip prices and weakening downstream demand.
Shenzhen O-Film Tech Co LtdDenies whistleblower allegations of asset hollowing, but faces regulatory scrutiny and legal action.
