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Wanfeng

Controversies

Controversies tied to this brand in public sources. A listing is not a finding of fault.

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  1. 2019

    Controlling shareholder illegally occupied 1.121 billion yuan, undisclosed irregular guarantees

    Wanfeng Group, the controlling shareholder of Wanfeng Auto, through arrangements including the acquisition of Yucuiyuan, non-operationally occupied about 1.121 billion yuan of funds of the listed company, and there were irregular guarantees and undisclosed related-party transactions; it was questioned over benefit tunneling, and the Shenzhen Stock Exchange made inquiries. In 2020, the Zhejiang Securities Regulatory Bureau issued warning letters to the company and five people including actual controller Chen Ailian.

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