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ST Hengxin: Former chairman subject to criminal coercive measures, significant impact on major subsidiaries

ST Hengxin announced that on the evening of October 16 the company learned that former chairman Meng Nan has been subject to criminal coercive measures. He had previously been removed from his position as a non-independent director by the shareholders' meeting on June 30, but because the industrial and commercial registration change was revoked, he remains the legal representative on the company's business license and also serves as executive director, manager and legal representative of several major subsidiaries. The company said the matter has a significant impact on its major subsidiaries; as of now, all production and business activities are proceeding normally, and if the matter concerned relates to his tenure, the company will fully cooperate with public security and judicial authorities in the investigation and make every effort to recover the company's losses.

Part of the event: Former ST Hengxin Chairman Meng Nan Subject to Criminal Coercive Measures

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