« La première action chinoise dans le secteur des matelas » révèle un insider : 1 milliard de fonds détournés dans une filiale en contrôle, 900 millions de comptes soudainement gelés.

Red Star Capital Bureau, March 28 news, On March 27, “China’s first mattress stock” Xilinmen (603008.SH) issued an announcement, disclosing that funds from the accounts of its controlled subsidiary were illegally transferred and that the company has implemented protective freezing on certain bank accounts.

The announcement shows that recently, Xilinmen discovered that funds from the bank account of its controlled subsidiary, Xitu Technology Co., Ltd., were illegally transferred, with a total of 100 million yuan transferred. After verification, the company found that relevant personnel were suspected of misappropriating company funds for personal gain by abusing their positions.

Image from Xilinmen’s official website

Xilinmen pointed out in the announcement that in order to further prevent financial security risks and ensure the safety of the listed company’s funds, the company applied to the public security organs for a criminal investigation on March 26, 2026, and implemented protective freezing on the relevant bank accounts that may be involved.

As of the announcement date, the amount of funds illegally transferred from Xilinmen’s controlled subsidiary’s bank accounts was 100 million yuan, with protective judicial freezing amounting to approximately 900 million yuan. The total of both exceeds 1 billion yuan, accounting for 26.54% of the company’s most recent audited net assets and 42.69% of the company’s most recent audited monetary funds.

Xilinmen stated that the freezing of the above bank accounts was a proactive protective freezing conducted by the company to safeguard fund security, and there was no situation of being frozen by a third party. This matter may have a certain impact on the normal use of funds by the controlled subsidiary in the short term, but considering the company’s cash flow situation, it will not constitute a significant adverse impact on the company’s overall production and operation activities temporarily.

The company is currently fully cooperating with the public security organs to investigate and verify relevant matters. While ensuring the safety of account funds, it will promote the unfreezing of the frozen accounts and make every effort to recover the illegally transferred funds, striving to eliminate the related adverse effects as soon as possible and effectively protect the legal rights and interests of the company and all shareholders.

After the incident, the Shanghai Stock Exchange quickly issued a regulatory work letter, involving the listed company’s directors, senior management, and actual controllers.

“The company is currently fully cooperating with the public security organs to investigate and verify relevant matters. While ensuring the safety of account funds, it will promote the unfreezing of the frozen accounts and make every effort to recover the illegally transferred funds, striving to eliminate the related adverse effects as soon as possible and effectively protect the legal rights and interests of the company and all shareholders,” Xilinmen stated.

According to Xilinmen’s official website, since its establishment in 1984, the company has expanded its business to over 70 countries and regions worldwide. Currently, Xilinmen has established 7 major production bases globally, with over 5,200 stores and more than 10,000 employees, and its products and solutions are widely used in households, hotels, apartments, and diverse commercial scenarios.

(This article does not constitute any investment advice. Risks are borne by the operator accordingly.)

Editor: Yang Cheng, Xiao Shiqing, Comprehensive from The Paper, Daily Economic News, Public Information

Reviewed by Wang Guandong