ST DFSS: The final ruling maintains the original judgment against the actual controller Xu Xiong for the crime of manipulating the securities market, sentencing him to six years and six months in prison and imposing a fine of 170 million yuan

ST DFSS announced that the company recently received a "Criminal Ruling" issued by the Shanghai High People's Court, delivered by the family of the actual controller Xu Xiong, stating, "The appeal is rejected, and the original judgment is upheld. This ruling is final." On September 16, 2023, the company disclosed the "Announcement on the Criminal Coercive Measures Taken Against the Company's Actual Controller and Chairman." Xu Xiong was arrested on suspicion of manipulating the securities market, with approval from the First Branch of the Shanghai People's Procuratorate