Kaiying Network Co., Ltd. (hereinafter referred to as “the company”) learned on December 4, 2020 that Chen yongcong and Lin bin respectively received the “decision on non prosecution” issued by the first branch of Shanghai Municipal People’s Procuratorate, saying that after legal examination, it was found that Chen yongcong and Lin bin committed the crime of breaking faith and damaging the interests of listed companies, and the evidence was insufficient However, the evidence is still insufficient and does not meet the requirements for prosecution. According to the fourth paragraph of Article 175 of the criminal procedure law of the people’s Republic of China, it is decided not to prosecute. Chen yongcong, director and general manager of the company, was investigated by the public security organ for suspected crime of manipulating the securities market. Later, he was formally arrested by Shanghai Public Security Bureau for the crime of betraying the interests of listed companies with the approval of Shanghai People’s Procuratorate. On January 21, 2020, the company received a notice from Chen yongcong that he had gone through the procedures for obtaining a guarantor pending trial in the Shanghai People’s Procuratorate. In addition, Lin bin, the outgoing supervisor of the company, was investigated by the public security organ for suspected breach of trust in the interests of listed companies. Later, he was formally arrested by the Shanghai Public Security Bureau after being approved by the Shanghai People’s Procuratorate for the crime of betraying the interests of listed companies. On March 4, 2020, the company received a notice from Lin bin that he had gone through the procedures for obtaining a guarantor pending trial in the Shanghai People’s Procuratorate. After 12 years, “world class Super project” Shantou Bay Tunnel ushers in a historic breakthrough today

By ibmwl