According to the Zhitong Finance App, Meisheng Culture (002699.SZ) issued an announcement that the controlling shareholder of the company, Meisheng Holding Group Co., Ltd. (“Meisheng Holdings” for short) and its related parties illegally occupied funds through indirect transfer of funds. As of the date of this announcement, the balance of funds illegally occupied was 621 million yuan.

According to the situation stipulated in section 9.8.1 and section 9.8.2 of the “Stock Listing Rules (2022 Revision)” of the Shenzhen Stock Exchange, if the company has no viable solution or proposes a solution but cannot resolve it within one month, the company will be subject to other risk warnings.

Trading of the company's shares will be suspended for one day from the opening of the market on June 2, 2022, and trading will resume on the opening of the market on June 6, 2022. Other risk warnings will be applied to the company's shares after the resumption of trading. After the company's stock was subject to other risk warnings, the stock abbreviation was changed from “Meisheng Culture” to “ST Meisheng”, and the daily rise and fall rate of the company's stock was limited to 5%.