Controversies
Controversies tied to this brand in public sources. A listing is not a finding of fault.
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2024
Shanshan Shares Fails to Timely Disclose RMB 1.788 Billion in Shareholder Fund Occupation
The CSRC Ningbo Regulatory Bureau determined that from January 2022 to April 2024, Shanshan Holdings accumulated RMB 1.788 billion in occupation of Shanshan Shares funds through suppliers and construction contractors, among others, and failed to disclose it in a timely manner; it issued warning letters to the company and relevant responsible persons. The cumulative amount incurred does not equal the ending occupation balance. Progress: regulatory measures. Involved entities: Ningbo Shanshan Co., Ltd., Shanshan Holdings Co., Ltd.
2023
Family Inheritance Dispute After Zheng Yonggang's Death and Controlling Shareholder Penalized for Violations
After founder Zheng Yonggang died in 2023, widow Zhou Ting and eldest son Zheng Ju disputed over inheritance, equity and control; Zhou Ting applied to freeze Ningbo Qinggang equity and took over as chairman of Shanshan Shares in 2024; in 2026, three heirs of Zheng Yonggang were sued. Controlling shareholder Shanshan Holdings was proposed to be fined RMB 5 million by the Liaoning Securities Regulatory Bureau for failing to fulfill its mandatory tender offer obligation; the Shanghai Stock Exchange publicly condemned Shanshan Holdings and circulated criticism against Shanshan Shares and Zheng Ju. Change of control, regulatory penalty.