Wenfeng Great World Chain Development Corporation (601010.SH) announced on Monday that the company and its controlling shareholder Jiangsu Venfi Group Co., Ltd. are being investigated by the China Securities Regulatory Commission, the industry watchdog, for failing to disclose information on equity changes.
According to the CSRC's notification sent to the two companies on December 18, the CSRC decided to carry out investigation over the two companies as Wenfeng Great World Chain Development Corporation failed to disclose that Lu Yongmin was holding the company's shares on behalf of Jiangsu Venfi Group.
By the end of September 2015, Jiangsu Venfi Group was the largest shareholder of Wenfeng Great World Chain Development Corporation, with its shareholdings at some 391 million shares, representing 21.14 percent of the total.
Lu Yongmin and Zhengsuzhen were the second largest shareholders, each holding 275 million shares in the company, representing 14.88 percent of the total stock capital, respectively.
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