Controversies
Controversies tied to this brand in public sources. A listing is not a finding of fault.
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2020
Wangfujing responds to insider-trading allegations
Company response
After questions about possible insider trading arose amid a sharp rise in Wangfujing’s share price before the company disclosed that it had received a duty-free business qualification, Wangfujing said its review found that insiders aware of the business had not violated confidentiality obligations or other relevant laws and regulations. The article reports the company’s response, not a determination that insider trading occurred.
Company response
Clarification — 王府井集团
经核实，公司知悉该项业务的内幕知情人没有违反保密义务行为，也没有其他违反有关法律法规的情形。
Source excerpt
而在6月9日晚间正式公告获得免税牌照之前，王府井集团股票已经暴涨122％，由此引发内幕交易的质疑。
6月10日晚间，王府井发布关于公司股票异常波动的公告，称公司知悉该项业务的内幕知情人没有违反保密义务行为，也没有其他违反有关法律法规的情形。
2019
Guangzhou Wangfujing Department Store withheld power-price cut benefits; SAMR ordered refund of overcharges
In January 2019, the State Administration for Market Regulation notified the results of price inspections in the secondary power supply segment. Guangzhou Wangfujing Department Store and other secondary power supply entities failed to implement the national policy of lowering electricity prices for general industrial and commercial users, withheld the benefits of the price cut, and overcharged merchants. Impact and handling: SAMR ordered the relevant entities to refund the overcharged amounts within a deadline and to impose administrative penalties according to the refund situation. Other media reported that Luoyang Wangfujing Department Store had once had illegal gains confiscated and was fined by price authorities for fabricating original prices in promotions. Progress: regulatory notification. Entity involved: Guangzhou Wangfujing Department Store Co., Ltd. Scope: secondary power supply charges at Wangfujing Group's Guangzhou store.