ST Tianyu: One of the actual controllers, Yan Chunyu and others, are suspected of misappropriating funds and have been criminally charged.

On May 30th, ST Tianyu announced that the company received the "Notice of Filing" from the Wuhan Public Security Bureau, stating that one of the actual controllers of the company, Yan Chunyu, and others are suspected of embezzling funds. The Wuhan Public Security Bureau believes that it meets the criteria for criminal case filing and has decided to initiate an investigation according to Article 112 of the Criminal Procedure Law of the People's Republic of China.