Besunny's Controlling Shareholder Penalized: Exceeded 30% Offer Threshold Without Performance, Two Years of False Financial Statements | Quick Read Announcement

How is AI · Chen Feng’s resignation timing related to the violation investigation?

Cailian Press, March 16 (Reporter Chen Kang) Beismei (300796.SZ) announced tonight that the company’s actual controller, Chen Feng, received an “Administrative Penalty Notice of Prior Notice” issued by the Zhejiang Regulatory Bureau of the China Securities Regulatory Commission. The penalty was due to his failure to fulfill mandatory tender offer obligations and concealment of shareholding changes, resulting in false disclosures in financial reports. The two violations combined resulted in a fine of 4.5 million yuan.

According to the notice, the core issues leading to Chen Feng’s penalty focus on two serious violations: First, Chen Feng and his concerted parties increased their shareholding to 32.37%, clearly exceeding the 30% mandatory tender offer threshold stipulated by the Securities Law and the Measures for the Administration of Takeovers of Listed Companies, yet he did not fulfill the obligation to make a full tender offer; Second, Chen Feng deliberately concealed changes in his shareholding over a long period, directly causing the actual controller shareholding data in Beismei’s 2024 annual report and 2025 semi-annual report to be falsely recorded, constituting typical information disclosure violations.

The Zhejiang Securities Regulatory Bureau fined Chen Feng 1.5 million yuan for failing to fulfill the tender offer obligation and an additional 3 million yuan for false disclosures, totaling 4.5 million yuan. He was also ordered to correct the violations and received a warning.

A timeline review shows that this incident is a concentrated exposure of compliance risks over several months: In July 2025, Chen Feng resigned from all management positions, including Chairman and legal representative, citing work adjustments, effectively stepping back from front-line management but maintaining his control over the company; in October 2025, Chen Feng was investigated by the CSRC for suspected failure to fulfill tender offer obligations and illegal information disclosure; in December 2025, Chen Feng was placed under bail pending investigation by the Shaoxing Public Security Bureau; and until March 2026, the administrative penalty notice was officially issued, marking the basic recognition of illegal facts at the administrative level, though criminal proceedings are still ongoing.

Beismei stated that the above matters involve the personal affairs of the actual controller and will not affect the company’s normal production and operation activities.

(Cailian Press, Reporter Chen Kang)