---
title: "China High Speed Transmission Challenges Fullshare’s Interpretation of Police Letter in RMB6.64 Billion Funds Dispute"
description: "China High Speed Transmission Equipment Group Co issued a voluntary announcement clarifying a police letter regarding RMB6.64 billion fund misappropriation at its subsidiary, Nanjing Drive. The letter"
type: "news"
locale: "en"
url: "https://longbridge.com/en/news/270636136.md"
published_at: "2025-12-23T15:09:29.000Z"
---

# China High Speed Transmission Challenges Fullshare’s Interpretation of Police Letter in RMB6.64 Billion Funds Dispute

> China High Speed Transmission Equipment Group Co issued a voluntary announcement clarifying a police letter regarding RMB6.64 billion fund misappropriation at its subsidiary, Nanjing Drive. The letter states insufficient criminal evidence against former director Fang Jian and no direct link to Fullshare, but invites further evidence. The company believes Fullshare personnel misappropriated funds and plans civil proceedings for recovery. Analyst rating on HK:0658 stock is Hold with a HK$1.50 price target.

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An update from China High Speed Transmission Equipment Group Co ( (HK:0658) ) is now available.

China High Speed Transmission Equipment Group has issued a voluntary announcement clarifying the implications of a 17 December 2025 letter from the Nanjing Public Security Bureau, Jiangning Branch, concerning a reported RMB6.64 billion fund misappropriation at its subsidiary Nanjing Drive and the alleged involvement of major shareholder Fullshare Holdings Limited. The company stresses that the police letter only states there is currently insufficient criminal evidence against former director Fang Jian and no direct connection found between the misappropriated funds and Fullshare, but it does not clear Fullshare’s directors and senior executives nor conclude the criminal investigation, and it explicitly invites further evidence. Drawing on PRC legal advice and its own independent investigation, the Group maintains that it reasonably believes Fullshare personnel and Fullshare’s controller, Mr. Ji Changqun, misappropriated funds via layers of affiliated entities and that, while this may fall short of the higher criminal standard of proof or a “direct” link cited by police, it remains actionable in civil proceedings, where the company intends to continue pursuing recovery claims against Fullshare, Mr. Ji and other responsible parties.

The most recent analyst rating on (HK:0658) stock is a Hold with a HK$1.50 price target. To see the full list of analyst forecasts on China High Speed Transmission Equipment Group Co stock, see the HK:0658 Stock Forecast page.

**More about China High Speed Transmission Equipment Group Co**

China High Speed Transmission Equipment Group Co., Ltd. is a gearbox and transmission equipment manufacturer whose operations include Nanjing High Accurate Drive Equipment Manufacturing Group Co., Ltd. (Nanjing Drive), a key subsidiary involved in high-precision drive and transmission systems for industrial applications.

**Average Trading Volume:** 1,712,768

**Technical Sentiment Signal:** Hold

**Current Market Cap:** HK$2.4B

Find detailed analytics on 0658 stock on TipRanks’ Stock Analysis page.

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> **Disclaimer**: This article is for reference only and does not constitute any investment advice.