CITIC (US:CTPCY) Sou Hu Cai Jing·2025-12-12 16:50Core Points - The Shenyang Intermediate People's Court sentenced Xu Zuo, former deputy general manager of China CITIC Group, to life imprisonment for bribery and illegal business operations, along with confiscation of all personal assets and a fine of 10 million RMB [1][3] - Xu Zuo was found guilty of accepting bribes totaling over 147 million RMB from 1999 to 2024 while holding various positions at CITIC Dicastal Co., Ltd. and China CITIC Group [3] - The court noted that Xu's actions caused significant losses to the state and the public, and despite some mitigating circumstances, he was punished for both crimes [3][4] Company and Industry Summary - Xu Zuo utilized his positions at CITIC Dicastal to gain illegal benefits through bribery and illegal business operations, indicating potential governance and compliance issues within the company [3] - The case highlights the risks associated with corporate governance in state-owned enterprises, particularly in the context of corruption and illegal business practices [3][4] - The court's decision reflects a stringent approach to corruption in the industry, emphasizing the importance of ethical conduct and accountability in corporate management [3][4]