Less than a month after the announcement that the chairman was under investigation for bribery and detained, Kairuide (002072.SZ) announced tonight that the chairman of the company, Ji Xiaowen, has been released from custody and has resumed his normal duties.

In an announcement made by Kairuide tonight, the company recently received a "Release from Custody Notice" issued by the Duodao District Supervisory Committee of Jingmen City, which has lifted the detention measures against the chairman and general manager Ji Xiaowen.

Kairuide stated that the company's production and operation management is currently normal, and Mr. Ji Xiaowen has resumed his duties as chairman and general manager of the company.

Looking back to the evening of September 24th, Kairuide announced that Ji Xiaowen was under investigation for bribery and detained. At that time, the announcement indicated that the major asset restructuring plan of the company was progressing, with Ms. Zhu Xiaoyan, Deputy General Manager and Secretary of the Board of Directors, temporarily overseeing the company's daily operation and management.

Public information shows that Ji Xiaowen is known as a "professional chairman" in the capital markets. Ji Xiaowen has been chairman of Kairuide since June 2019, totaling over 5 years. Prior to this, he has successively served as chairman of several listed companies including CCS Supply Chain Management (600180.SH, formerly known as *ST Jiufa), ST Huicheng (002168.SZ), Guangdong Qunxing Toys (002575.SZ), and led the companies through restructuring. Remarkably, CCS Supply Chain Management even achieved a shining record of 30 consecutive daily limit up scenarios in 2009.

It is worth noting that Kairuide is currently involved in an investigation case. Due to historical improper disclosure of information, the company announced on August 29, 2023 that it had received a "Notice of Filing" from the China Securities Regulatory Commission. Prior to the filing, the company had already reported criminal offenses related to the former controlling shareholder Wu Lianmo, and former controlling shareholder Zhang Peifeng to the public security organs and has been accepted for investigation. As of now, the CSRC investigation is still ongoing.

Kairuide mainly engages in coal trading business, conducted entirely through a self-operated model. Financial data shows that from 2020 to 2023, Kairuide's net income was -0.203 billion yuan, 0.009 billion yuan, -0.011 billion yuan, and 0.002 billion yuan respectively. In the first half of the year, Kairuide's performance has slightly improved, achieving an operating income of 0.328 billion yuan, a year-on-year growth of 123.32%; and a net profit of 4.6086 million yuan, turning the loss into a profit.