The actual controller of WLGF, Yan Pengfei, has been placed under residential surveillance on suspicion of embezzlement
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WLGF announced that the actual controller Yan Pengfei is under residential surveillance due to suspected embezzlement. The company stated that after self-examination, no violations of guarantees or fund occupation were found, and Yan Pengfei does not serve as a director or senior executive of the company and does not participate in daily operations. The incident will not have a significant impact on the company's operations. The company's control remains stable, and work continues to progress
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