According to the Wisdom Finance App, UnitedEnergy GP(00467) fell by 30% last week and fell by another 8% this morning. As of the time of publication, it has fallen 4.76% to HKD 0.4, with a turnover of HKD 55.0369 million.

On the news front, on June 18th, Orient Group announced that the funds of RMB 1.64 billion in Eastern Finance Co., Ltd. from the company and its subsidiaries were restricted from withdrawal. On June 19th, Zhang Hongwei, the actual controller of Orient Group, urgently stated that it would liquidate assets such as UnitedEnergy and UEP wind energy equity under its subsidiary to help solve East Finance Company's liquidity problems and ensure the safety of Orient Group's funds.

In addition, on the evening of June 21, Orient Group announced that the company's major shareholder, Dongfang Runlan, forcibly liquidated its 0.63% shareholding in the company. Due to the company's suspected illegal information disclosure, the China Securities Regulatory Commission decided to file a case against the company.

It is reported that Zhang Hongwei once provided a guarantee for a loan of RMB 2.35 billion to Orient Group with UnitedEnergy's shares as collateral. If the liquidity problem of East Finance Company affects Orient Group's repayment of loans, Zhang Hongwei will use the proceeds from the disposal of the pledged shares to repay the debt.