“1.7 billion has been allocated; *ST Lida has been transferred to another owner: Is the fine the end or a stepping stone?”

*ST Lida (603828.SH) was fined 9 million yuan by Jiangsu Securities Regulatory Bureau for the use of 1.703 billion yuan in funds under the guise of project payments by its controlling shareholder, Kelida Group, between 2020 and 2022. Gu Yiming, the actual controller, is planned to be fined 16.2 million yuan and banned from entering the market for 5 years. Previously, the transfer of shares to Shanghai Yingzhong Intelligence by the controlling shareholder was delayed due to investigation into the actual controller’s actions. With the penalty imposed, this obstacle has been removed. Currently, Shanghai Yingzhong Intelligence, the new owner, has appointed Liu Chunjian as chairman and promised not to reduce its holdings within 5 years. Although stock prices rose sharply due to this news, the company still faces challenges such as fixing internal control deficiencies, rebuilding its business, and handling investor claims.