---
title: "ECHOM Technology hit the daily limit down, Comens Materials fell 14.52%, what are the risks behind the detention of the female billionaire?"
type: "News"
locale: "zh-HK"
url: "https://longbridge.com/zh-HK/news/273966065.md"
description: "On the evening of January 27th, Comens Materials, EMT, and ECHOM saw their stock prices plummet due to the investigation of their actual controller, Xiong Haitao. Comens Materials dropped by 14.52%, ECHOM hit the daily limit down, and EMT fell by 3.65%. All three companies stated that this incident would not have a significant impact on their operations. Xiong Haitao controls the three companies through the controlling shareholder, Gaojin Group, and serves as an executive in Comens Materials and EMT. Several executives from Comens Materials have previously been involved in cases of infringing commercial secrets"
datetime: "2026-01-28T09:09:15.000Z"
locales:
  - [zh-CN](https://longbridge.com/zh-CN/news/273966065.md)
  - [en](https://longbridge.com/en/news/273966065.md)
  - [zh-HK](https://longbridge.com/zh-HK/news/273966065.md)
---

> 支持的語言: [简体中文](https://longbridge.com/zh-CN/news/273966065.md) | [English](https://longbridge.com/en/news/273966065.md)


# ECHOM Technology hit the daily limit down, Comens Materials fell 14.52%, what are the risks behind the detention of the female billionaire?

A notice of detention has led to a collective drop in the stock prices of three A-share companies.

On the evening of January 27, **Comens Materials (300200.SZ)**, **EMT (601208.SH)**, and **ECHOM (002420.SZ)** collectively announced that their actual controller, Xiong Haitao, is under investigation by the Sichuan Provincial Supervisory Committee and has been subjected to detention.

All three companies stated that the aforementioned matters would not have a significant negative impact on the company's production and operational management. As of the date of this announcement, the company is still unaware of the progress and conclusions of the investigation.

In addition to ECHOM's announcement indicating that it received the "Notice of Case Filing" and "Notice of Detention" issued by the Sichuan Provincial Supervisory Committee, Comens Materials and EMT both forwarded the notice from their controlling shareholder, Gaojin Technology Industry Group Co., Ltd. (hereinafter referred to as "Gaojin Group").

On January 28, **Comens Materials fell sharply by 14.52%, closing at 12.30 yuan/share, ECHOM hit the daily limit down, and EMT dropped by 3.65%.**

According to data, as of the end of the third quarter of 2025, Gaojin Group holds 25.33%, 17.91%, and 23.07% equity in ECHOM, EMT, and Comens Materials, respectively, making it the controlling shareholder of the three companies. **Xiong Haitao became the actual controller of the aforementioned companies through controlling Gaojin Group.**

According to the announcement, Xiong Haitao currently serves as vice chairman and director in both Comens Materials and EMT, with EMT stating that the company has not been asked to assist in the investigation.

However, according to reports from media outlets such as Caixin, due to issues related to the restructuring controversy of EMT's predecessor, Dongcai Group, Shao Jingfa, an "old factory manager" involved in the restructuring, has repeatedly contacted the media to expose the insider information of the restructuring and submitted reporting materials to the Sichuan Provincial Discipline Inspection Commission.

**Several executives of Comens Materials have previously been involved in trade secret infringement cases.**

On January 28, the board secretary office of Comens Materials stated that **the company is currently not cooperating with the investigation regarding the detention of the actual controller.**

Financial news noted that several executives of Comens Materials had previously been involved in a case of trade secret infringement.

In early 2024, the then chairman of Comens Materials, Cao Xue, general manager Chen Dengyu, and vice general manager He Changsheng were once subjected to criminal coercive measures or bail pending trial by public security authorities due to suspected trade secret infringement. At the end of December 2024, the Third Branch of the Shanghai People's Procuratorate decided not to prosecute the wholly-owned subsidiary of the company, Nantong Comens New Materials Co., Ltd., as well as Cao Xue, Chen Dengyu, and He Changsheng, and lifted the bail pending trial for the three.

In response, the board secretary office of Comens Materials also stated that it is currently unclear whether the detention of the actual controller is related to the previous incident, and the company is also unaware of the specific progress.

**ECHOM's situation is delicate.** In addition, due to the ongoing planning of the control transfer, the situation of ECHOM may be more delicate.

According to the company's disclosure on December 23, 2025, Gaojin Group signed a share transfer agreement with Chuzhou Weiran Technology Development Partnership (Limited Partnership) (hereinafter referred to as "Weiran Partnership"), in which Weiran Partnership intends to acquire 104 million shares of the listed company for a consideration of 850 million yuan, accounting for 25.33%. The actual controller of the company will also change from Xiong Haitao to the Chuzhou State-owned Assets Supervision and Administration Commission.

A staff member from the board secretary office of ECHOM stated to Caixin that the share transfer mainly involves matters at the level of the controlling shareholder, and the actual controller is not directly transferring shares; currently, (the actual controller's retention) does not affect the transaction.

"Currently, the Chuzhou State-owned Assets Supervision and Administration Commission has approved this transaction, but it still needs to obtain the approval from the State Administration for Market Regulation for the concentration of operators, compliance confirmation opinions from the Shenzhen Stock Exchange, and handle the share transfer registration procedures at the Shenzhen branch of China Securities Depository and Clearing Corporation Limited, as well as complete other approvals that may be required by relevant laws and regulations," the staff member said.

Just one day before the retention announcement was released, **ECHOM announced that Xiong Haitao resigned from the positions of director, vice chairman, and member of the nomination committee of the company on January 26 due to personal reasons**, and after resigning, he no longer holds any positions in the company or its controlling subsidiaries.

Legal industry professionals pointed out that, based on the timeline before and after the announcement, it cannot be ruled out that the actual controller resigned in advance to "cut ties" in anticipation of related risks, to avoid potential impacts on the transaction.

**From "couple" to "important shareholder"**

Public information shows that Xiong Haitao was born in April 1964 in Mianyang, Sichuan, and is currently 62 years old. He previously worked at Sichuan Changhong and Shenzhen Konka Group. In 1997, Xiong Haitao joined **Jinfa Technology (600143.SH)**, founded by Yuan Zhimin, and has held positions such as deputy general manager and director. The 2015 annual report of Jinfa Technology indicated that at that time, Xiong Haitao and Yuan Zhimin were married, but there was no related record in the 2016 annual report.

It is worth mentioning that subsequently, the China Securities Regulatory Commission verified that Yuan Zhimin engaged in insider trading during the non-public issuance of Jinfa Technology in 2016, resulting in the confiscation of related income and a fine; in July 2024, the Shenzhen Intermediate People's Court ruled that Yuan Zhimin was guilty of insider trading and sentenced him to three years in prison, with a four-year probation, and imposed a fine of 900,000 yuan.

As of January 12, 2026, Xiong Haitao and his concerted actors still hold 186 million shares of Jinfa Technology, accounting for 7.0738% of the company's total share capital. Yuan Zhimin holds 510 million shares of Jinfa Technology, accounting for 19.36%, making him the largest shareholder of the company, and neither of them holds any positions in Jinfa Technology

### 相關股票

- [EMT (601208.CN)](https://longbridge.com/zh-HK/quote/601208.CN.md)
- [Comens Materials (300200.CN)](https://longbridge.com/zh-HK/quote/300200.CN.md)
- [ECHOM (002420.CN)](https://longbridge.com/zh-HK/quote/002420.CN.md)

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