Chairman born after 1995 under investigation! The company borrowed 15 million yuan to pay employee wages, social security, housing fund, and other expenses.

MaticHoleFiller · 2026-03-22T02:59:19+00:00

Guangdong Quanwei Technology Co., Ltd. has been placed under investigation by the China Securities Regulatory Commission on suspicion of illegal information disclosure. The company stated that production and operations are normal and will actively cooperate during the investigation period. Additionally, the company has signed a loan agreement with Qingdao Luchuangtai for a loan of 15 million yuan to be used for operational relief. The company expects to continue posting losses in the coming years, with net assets expected to turn negative.

MaticHoleFiller

2026-03-22 02:59:19

Abstract generation in progress

On the evening of March 19, Guangdong Quanwei Technology Co., Ltd. (Stock abbreviation: ST Quanwei (Rights Protection), stock code: 300716) announced that due to suspected illegal disclosure of information by the company and its actual controller and chairman, Ms. Chu Yifan, the China Securities Regulatory Commission (CSRC) has decided to initiate an investigation in accordance with the Securities Law of the People’s Republic of China, the Administrative Penalty Law of the People’s Republic of China, and other relevant laws and regulations.

ST Quanwei stated that currently, the company’s production and operation are normal, and the above matter will not affect the company’s daily business activities. During the investigation, the company and Ms. Chu Yifan will actively cooperate with the CSRC’s investigation. The company will continue to monitor the progress of the situation and strictly fulfill its disclosure obligations in accordance with relevant laws, regulations, and regulatory requirements.

Public information shows that Chu Yifan was born in 1995, previously worked as a financial journalist, and has served as chairman of ST Quanwei since 2023. She is also the controlling shareholder of the company’s major shareholder, Quanwei Green Energy, and indirectly controls ST Quanwei through Quanwei Green Energy and its concerted action party, Guoli Holdings.

Another announcement indicates that, after approval at the 44th meeting of the fourth board of directors, ST Quanwei signed a “Rescue Cooperation Agreement” with Qingdao Luchuangtai Enterprise Management Consulting Co., Ltd. (hereinafter referred to as “Qingdao Luchuangtai”) to borrow 15 million yuan (including the first batch of 3 million yuan at an 8% annual interest rate; the second batch of 12 million yuan at a 6% annual interest rate) to cover expenses such as employee wages, social security, and housing provident fund. The loan term is 12 months.

In terms of performance, ST Quanwei recorded a net loss of 139 million yuan in 2023 and 119 million yuan in 2024. The forecast for 2025 shows a full-year loss of 182 million to 255 million yuan, revenue of only 45 million to 63 million yuan, and net assets turning negative from positive, ranging from -123 million to -172 million yuan.

●Source: Daily Economic News, Southern Metropolis Daily, Shenzhen Business Daily

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