On June 5 , the Inner Mongolia Regulatory Bureau of the China Securities Regulatory Commission issued a decision on administrative penalties ( [2026] 1), and Yili Jieneng, its controlling shareholder Yili Group, and 26 responsible persons were fined a total of 244.6 million yuan.
The announcement shows that there are two core illegal acts in Yili Jieneng.
First, there are false records and major omissions in the information disclosed in the stock and bond markets in 2016-2023.
From 2016 to 2022, Yili Jieneng and its subsidiaries made financial fraud by falsely increasing profits, assets and income, which led to the distortion of annual report profits, assets and revenue data for many years.
Among them, from 2016 to 2022, there are fictitious futures, trade, investment income and other false profits, the total amount of false profits amounted to 12558 81000 yuan ; From 2016 to 2021, the Bank falsely increased its assets by means of falsely increasing monetary capital and making up financial asset transactions, with the accumulated amount of falsely increased assets amounting to 1104880.50 million yuan ; From 2017 to 2021, the Company falsely increased its operating income by way of fictitious trading business, amounting to 1309622.26 million yuan.
From 2017 to 2022, Yili Jieneng concealed a huge amount of related guarantees, which were guaranteed by the controlling shareholder Yili Group and its related parties, totaling 9484 million yuan , and failed to disclose the amount of guarantees and the balance at the end of the year. There are significant omissions in the annual report. From
2016 to 2023, the controlling shareholder occupied a huge amount of non-operating funds for a long time, and transferred the funds to Yili Group through capital agreements, bills of exchange, non-substantive project funds, etc.; nearly 3.906 billion deposits of the financial company of the Group were actually controlled by the Group; As of June 2024, the occupied funds have not been returned, and the related transactions of capital occupation have not been disclosed in the whole process.
Second, the company fraudulently issued two corporate bonds between 2016 and 2019. From
2016 to 2019, Yili Jieneng issued two major bonds, "2 billion Li 01" and "2 billion Li 02", with a total issuance scale of 1 billion yuan. In its issuance documents, it quotes the annual report data of 2016-2019 with false records and major omissions, which belongs to fabricating major false contents and concealing key facts, and constitutes fraudulent issuance of bonds.
In addition, Yili Group manages the allocation of funds as a whole, controls and directly participates in the business activities of Yili Jieneng and related parties, makes decisions and organizes the implementation of financial fraud, related guarantees, capital occupation, fraudulent issuance of corporate bonds, etc. It constitutes an organization and instructs Yili Jieneng to engage in the above-mentioned illegal information disclosure and fraudulent issuance of corporate bonds.
According to the above illegal acts, Inner Mongolia Regulatory Bureau decided to order Yili Jieneng Co., Ltd. to correct, give a warning, and impose a fine of 110 million yuan; impose a fine of 20 million yuan on Yili Resources Group Co., Ltd.; Twenty-six responsible persons, including Wang Wenbiao, then director and chairman of Yili Jieneng, were fined a total of 114 million yuan, and some of them were warned.
At the same time, Wang Wenbiao, the director and chairman of Yili Jieneng at that time, was banned from entering the securities market for life, Yin Chengguo, Wang Wenzhi, Hou Jinghui and Zhang Yanmei were banned from entering the securities market for 10 years, and Guo Ping and Xu Weihui were banned from entering the securities market for 5 years. According to
the data, Yili Group was founded in 1988 and was born in Kubuqi Desert, Inner Mongolia. It mainly develops two major industries, namely, energy and chemical industry and desert ecology. It is famous for "sand control", and its main sand control business plate "Yili Jieneng" was listed on the Shanghai Stock Exchange in 2000, known as " the first share of photovoltaic sand control ". Since
2013, Yili Jieneng has invested in the construction of a gigawatt photovoltaic sand control project, which is one of the earliest enterprises in China to explore and practice the photovoltaic sand control model. As of the first half of 2023, Yili Jieneng has developed a total of 3.3 million kilowatts of photovoltaic projects in Kubuqi, Inner Mongolia, Tengger, Gansu and other places, of which 1.1 million kilowatts have been completed and put into operation, and 2.2 million kilowatts are under construction. On September 12,
2025, Yili Jieneng announced that the company, controlling shareholders and related parties had received a prior notice of administrative penalty from the Inner Mongolia Securities Regulatory Bureau. During the period from 2016 to 2023, the Inner Mongolia Securities Regulatory Bureau intends to impose a fine of 375 million yuan on the company, controlling shareholders and related parties suspected of financial fraud, related guarantees, capital occupation and fraudulent issuance of creditor's rights, and to take measures such as market prohibition for some responsible persons. Nine months
later, the punishment finally fell to the ground.
It is noteworthy that in July 2024, Yili Jieneng had been terminated and delisted by the Shanghai Stock Exchange because its share price was below 1 yuan for 20 consecutive trading days, triggering delisting conditions.
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