Securities Code: 002485
Securities Abbreviation: ST Xuefa
Announcement Number: 2026-024
Xuesong Development Co., Ltd.
Announcement on Progress of Cases Involving Actual Controller
The Company and the entire Board of Directors guarantee that the information disclosed is true, accurate, and complete, and contains no false records, misleading statements, or significant omissions.
Recently, Xuesong Development Co., Ltd. (hereinafter referred to as the "Company") learned that the Guangdong Provincial High People's Court (hereinafter referred to as the "Guangdong High Court") has made a final ruling on the case of Mr. Zhang Jin, the actual controller of the Company, involving fundraising fraud, illegal absorption of public deposits, and breach of trust in the management of entrusted property. The relevant situation is hereby announced as follows:
I. Basic Situation