Jun 13, 2024 08:12 PM

China Anti-Graft Investigators Detain Top Leaders of 17 Listed Firms This Year

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Yang Yongping. Photo: www.npgov.cn

At least 17 companies listed on the Chinese mainland have seen their chairpersons or actual controllers detained by graft investigators this year over possible involvement in alleged duty-related crimes or violations of law by public officials, according to Caixin calculations based on corporate disclosures.

Several of the individuals have been released, according to the disclosures.

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At least 17 Chinese-listed companies have seen their chairpersons or controllers detained by graft investigators for alleged duty-related crimes in 2023.
The detained individuals are from diverse industries, and some have been released.
Shanghai Xuerong Biotechnology’s chairman was recently detained, causing the company's shares to fall sharply.

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Who’s Who

Shanghai Bairun Investment Holding Group Co. Ltd.: Shanghai Bairun Investment Holding Group Co. Ltd. (002568.SZ) is one of at least 17 Chinese mainland companies whose chairpersons or actual controllers have been detained by graft investigators this year for possible involvement in alleged duty-related crimes or violations of law by public officials.

Chengdu Guoguang Electric Co. Ltd.: Chengdu Guoguang Electric Co. Ltd. (688776.SH) is one of the Chinese mainland companies whose chairpersons or actual controllers have been detained by graft investigators this year. The company operates in the electronics industry.

Guosheng Shian Technology Co. Ltd.: Guosheng Shian Technology Co. Ltd. (603778.SH) is one of the companies whose chairpersons or actual controllers have been detained by graft investigators this year. The company operates in the technology sector and is listed on the Chinese mainland. The involvement is related to alleged duty-related crimes or violations of law by public officials.

Asia-Potash International Investment (Guangzhou) Co. Ltd.: Asia-Potash International Investment (Guangzhou) Co. Ltd. (000893.SZ) is one of the companies whose chairpersons have been detained by graft investigators this year. The chairperson is a current or former public official. The company operates in the renewable energy and technology sectors.

Tianyu Digital Technology (Dalian) Group Co. Ltd.: Tianyu Digital Technology (Dalian) Group Co. Ltd. (002354.SZ) is one of the companies where the chairperson, a current or former public official, has been detained by graft investigators. The detentions relate to possible involvement in duty-related crimes or violations of law, such as embezzlement, bribery, or dereliction of duty.

Shanghai Xuerong Biotechnology Co. Ltd.: Shanghai Xuerong Biotechnology Co. Ltd. went public in 2016 and produces edible fungi such as enoki and shiitake mushrooms. Chairman Yang Yongping has been detained by graft investigators in Gansu province. As of March end, Yang held a 21.6% stake in the company. Following the news, its shares fell 4.4% to 2.82 yuan.

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What Happened When

2024：: At least 17 companies listed on the Chinese mainland have seen their chairpersons or actual controllers detained by graft investigators over possible involvement in alleged duty-related crimes or violations of law by public officials.

2024-06-11：: Shanghai Xuerong Biotechnology Co. Ltd. announced in a brief notice that its Chairman Yang Yongping, 55, has been detained by local graft-busters in Northwest China’s Gansu province.