Shanghai Stock Exchange: Disciplinary actions have been taken against Nanjing Xin Bai, its controlling shareholder Sanbao Group, the actual controlling person and then Chairman Yuan Yafei, and relevant responsible individuals.

On August 21, the Shanghai Stock Exchange issued a decision to impose disciplinary actions on Nanjing Xinjiekou Department Store Co., Ltd., controlling shareholder Sanbao Group Co., Ltd., actual controller and then chairman Yuan Yafei, and other relevant personnel. The decision document shows that Nanjing Xinbai, Sanbao Group, and Yuan Yafei have violated regulations in terms of information disclosure and standardized operations. The disciplinary actions include publicly reprimanding Nanjing Xinjiekou Department Store Co., Ltd., Sanbao Group Co., Ltd., Yuan Yafei, then chairman Zhai Lingyun, then finance director Pan Lijian, Tang Zhiqing, and then vice president Qian Jing, and giving a notice of criticism to then chairman Yang Huaizhen.