ST Xuefa (002485.SZ): The ultimate controller Zhang Jin was sentenced to life imprisonment for fundraising fraud. If his indirectly-held shares are disposed of, the ultimate controller of the company may change.

The Zhitong Finance APP news, ST Xuefa (002485.SZ) announced that recently, the company learned that the Guangdong Provincial Higher People's Court made a final ruling on the case of the company's actual controller Zhang Jin for fund-raising fraud, illegal absorption of public deposits, and breach of trust in the use of entrusted property, upholding the original judgment. Zhang Jin was sentenced to life imprisonment, deprived of political rights for life, and all personal property was confiscated.