Zhitong Finance App News, Yusheng Culture (01859) issued an announcement. On March 18, 2024, the Company Audit Committee received a letter from the auditor stating that the auditor had received an allegation against the company. The allegation was allegedly sent to the auditor via email in response to a business matter between a Chinese state-owned enterprise (state-owned enterprise) and Beijing Zhongguang Yusheng Culture Communication Co., Ltd. (Zhongguang Yusheng), a wholly-owned subsidiary of the company, relating to the settlement of certain accounts receivable owed by the Chinese enterprise to Zhongguang Yusheng. Among them, it is claimed that as of the date of the above response, the Chinese company did not owe any accounts receivable to Zhongguang Yusheng; and that in November 2022, Zhongguang Yusheng submitted a series of falsified supporting documents to a bank in Guangzhou to apply for a bank loan, and that these supporting documents were stamped with the falsified seal of the Chinese enterprise company, and that the company had reported the incident to mainland China's law enforcement authorities (collectively, such charges). The company is currently taking active steps to investigate these allegations, including hiring an independent professional firm to conduct an independent investigation into the allegations. The publication of the 2022 Annual Report, 2023 Interim Results, and 2023 Interim Report is expected to be further delayed as the company will take time to investigate these allegations.

Furthermore, trading continues to be suspended.