On the evening of November 14, Zendai Culture issued an announcement that on November 13, Zhu Yu, the general manager of the company, was taken criminal compulsory measures by the Pudong Branch of the Shanghai Municipal Public Security Bureau to assist in the investigation because of the suspected illegal fund-raising of "Fishing for Treasure" and "Zendai Wealth" under Shanghai Zendai Cultural and Creative Development Co., Ltd.
Zendai Culture said that Zhu Yu's criminal compulsory measures had a significant impact on the company's general manager's ability to perform his duties, and the company's current production and operation are normal.
At the same time, Zendai Culture announced that the company intends to apply for shares to terminate the listing in the national SME share transfer system.
Zendai Culture said that the application for the termination of the listing of shares in the national SME share transfer system still needs to be approved by the shareholders' general meeting, and investors are kindly requested to pay attention to the investment risks.