Controversies

Poly Group Party Committee member and former Poly Culture general manager Jiang Yingchun under disciplinary review and supervisory investigation

On July 12, 2024, the discipline inspection and supervision team of the Central Commission for Discipline Inspection and the National Supervisory Commission stationed at SASAC, and the Beijing Municipal Supervisory Commission reported that Jiang Yingchun, a member of the Party Committee of China Poly Group Corporation and former Party secretary and general manager of Poly Culture Group Corporation, was suspected of serious violations of discipline and law and was undergoing disciplinary review and supervisory investigation. Jiang had been awarded the title Model of Central State-owned Enterprises and ceased serving as general manager of Poly Culture in August 2021. Impact and handling: he became an anti-corruption case in the cultural segment of central state-owned enterprises that year; subsequent handling is subject to official notices. Progress: case opened for investigation. Entity involved: Jiang Yingchun (former Party Committee member of China Poly Group Corporation and former general manager of Poly Culture Group). Scope: individual senior executive of Poly Group (Poly Culture segment).

Poly (Hong Kong) Holdings responds to questions about a related-party receivable

Company response

In response to an investor's question about an undisclosed non-operating fund occupation, Poly (Hong Kong) Holdings said the 2.771 billion yuan receivable arose from assuming shareholder loans when the company acquired its 50% stake, and described the transaction as having a genuine commercial background.