SHANGHAI CHALLENGE: Dongxu Group and Li Zhaoting received administrative penalties, and the related matters have nothing to do with the company
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SHANGHAI CHALLENGE announced that its controlling shareholder Dongxu Group and its actual controller Li Zhaoting have been administratively punished by the China Securities Regulatory Commission for violations of information disclosure and fraudulent issuance. The company emphasized that this punishment is unrelated to SHANGHAI CHALLENGE and will not affect its daily operations
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