A heavy fine of 30 million yuan is proposed! Photovoltaic Post-95 Chairman and His Company Were Held Accountable

of July 16, * ST Quanwei announced that the company and its actual controller, Chu Yifan, would be fined a total of 30.7 million yuan for suspected information disclosure violations.

The announcement shows that the Guangdong Securities Regulatory Bureau has found that * ST Quan's violation is mainly concentrated in two aspects. First, the company did not disclose related party transactions as required, and there were major omissions in the 2023 annual report. Since January 2023, Chu Yifan has become the actual controller of the company, and Huixiang Jian'an, which is actually controlled by his relatives, has become an affiliated legal person of the company. During this period, Huixiang Jian'an undertook the photovoltaic factory project of Anhui Quanwei, a subsidiary company, and purchased goods from Shandong Quanwei, another subsidiary company. In just one year (2023), the company had a total of 272 million yuan of related transactions with Huixiang Jian'an.

Second, the company did not disclose the main assets according to the regulations and was sealed up. Since August 2024, Shandong Quanwei's factory buildings, vehicles, land use rights and other assets have been seized by many courts, involving a net book value of 212 million yuan. The company was aware of the major risk no later than December 2024, but did not publicize it until April 2025.

In response to the above violations, the Guangdong Securities Regulatory Bureau intends to order * ST Quanwei to correct, warn and fine 10.6 million yuan ; the actual controller Chu Yif an 15.5 million yuan; Lei Xinyue, the general manager, was 2.8 million yuan , Zhang Qingfeng, the then director, was 1.6 million yuan , and Li Hui , the then chairman of the board of supervisors, was 200,000 yuan .

It is noteworthy that the company is currently in the pre-restructuring stage. According to the announcement on July 6, the company has signed a pre-restructuring investment agreement with industrial investors. Among them, the leading investor of the industrial investor consortium is Nanning Xinguang Tongda Investment Partnership (Limited Partnership) .

Equity penetration shows that Guilin Guanglong Science and Technology Group Co., Ltd. holds 99% of the shares of Xinguang Tongda. It is understood that the group, founded in 2001, is an optical chip full-process multi-field application provider , providing communication and non-communication optical chips and semiconductor full-process services.

According to financial data, by the end of the first quarter of 2026, * ST Quan had total assets of 655.2 million yuan and total liabilities of 1.025 billion yuan. In the first quarter of 2026, the Company realized a revenue of RMB 17,100, a year-on-year decrease of 99.93%, and realized a net profit loss of RMB 15.098 million , a year-on-year decrease of 9.48%.