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ST Jinggu Update: Former Executive Wang Lancun Allegedly Sold Inventory Goods; Subsidiary Huiyin Wood Industry Reports Case to Public Security Authorities
2025-08-13 /
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Author：小编
During an inventory audit, Huiyin Wood Industry, a holding subsidiary of ST Jinggu, discovered a loss of approximately RMB 19 million. Preliminary investigations indicate that Wang Lancun, a former key executive and sales director, circumvented the company's internal controls and approval procedures. It is suspected that he privately sold some goods, diverting the proceeds to his personal account. Huiyin Wood Industry has promptly reported this case to the public security authorities. Based on initial assessments, the company anticipates a loss of roughly RMB 9.69 million, though the final amount will be subject to further verification by the public security authorities.
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