Bandung was reported by the eldest son in real name that the market value of Shuanghui evaporated more than 100 in one day...

On the evening of August 17, Wan Hongjian, the eldest son of the founder of Shuanghui Development, Wanlong, issued a document on the public account "Xin Meat Industry" to report his father's tax evasion and suspected illegal related-party transactions

Reporting father's tax evasion and other stock prices fell

On the evening of August 17, the public account "Xin Meat Industry" published an article entitled "Wan Hongjian: Father and Bandung in My Eyes", signed by Wan Hongjian

Wan Hongjian reported the "two sins" of his father in the article

In addition, Wan Hongjian also revealed that his father was suspected of violating related party transactions

Wan Hongjian stated that such related-party transactions are obviously illegal and involve the transmission of the interests of major shareholders

In addition, Wan Hongjian also mentioned, “Wanzhou International, the parent company of Shuanghui Development, has no actual production operations.

Affected by this, on August 18, the share prices of the two listed companies of the "Shuanghui Department" plummeted.

Wanzhou International's response: The allegations are untrue and misleading

At noon on August 18, Wanzhou International issued a clarification announcement stating: The company has noticed the recent decline in the company’s stock price and the increase in trading volume.

It is reported that the conflict between the father and son in Bandung is, in the final analysis, a question of the successor of Wanzhou International

On June 17, Wanzhou International announced that Wan Hongjian’s recent improper attack on the company’s property made the company believe that he was unable to perform his duties as a director, acting prudently and diligently

On August 12, Wanzhou International issued an announcement that Bandung resigned as chief executive officer and remained as executive director, chairman of the board of directors, chairman of the nomination committee, chairman of the food safety committee and chairman of the risk management committee

Regarding this personnel change, Wan Hongjian commented on Guo Lijun in the article: “Although he is proficient in finance, Comrade Guo Lijun does not understand Shuanghui’s production, supply, sales, and research.

In addition to the grievances between father and son, what is even more concerned is that the performance of Shuanghui Development is not satisfactory

Kaiyuan Securities believes that the poor performance of Shuanghui's development was affected by the decline in revenue from the slaughter department.