On the evening of August 4, two A-share companies, ST Cuihua and Lianchuang Optoelectronics, separately announced that their actual controllers have been placed under investigation by the China Securities Regulatory Commission for suspected illegal information disclosure. Chen Siwei, the controlling shareholder and actual controller of ST Cuihua, is under investigation for suspected disclosure violations. The company had already been investigated twice before, in February and May 2026. If subsequent penalties are deemed to trigger mandatory delisting for major violations, the company's shares will be delisted. Meanwhile, Guo Yingjie, a concert party of a shareholder holding more than 5%, has also been placed under investigation for suspected disclosure violations. Lianchuang Optoelectronics and its actual controller Wu Rui are under investigation for suspected failure to disclose non-operating fund transactions and other violations as required. On the same day, the company disclosed overdue financial institution borrowings and bill principals totaling 506 million yuan, exceeding 10% of the latest audited net assets. Wu Rui has resigned as president but remains chairman. In the secondary market, ST Cuihua's share price has plummeted over 84% this year, with a latest market value of 500 million yuan. Lianchuang Optoelectronics' share price has tumbled over 56% this year, with a latest market value of 12.3 billion yuan.
Shenyang Cuihua Gold and Silver Jewelry Co LtdActual controller under investigation for suspected disclosure violations
Jiangxi Lianchuang Opto-electronic Science & Technology Co LtdActual controller under investigation for disclosure violations and overdue debts