ZBJT(SZ:000759) Shen Zhen Shang Bao·2026-01-23 15:44Core Viewpoint - Zhongbai Group's subsidiary has faced significant legal consequences due to employee embezzlement, resulting in severe penalties for the involved individuals and a warning from the Hubei Securities Regulatory Bureau regarding financial reporting violations [1][4][5]. Group 1: Legal Developments - Zhongbai Group announced that its wholly-owned subsidiary, Zhongbai Warehouse Supermarket Co., Ltd., received a criminal judgment from the Wuhan Intermediate People's Court, sentencing the main perpetrator to life imprisonment and substantial fines for embezzlement [1]. - The court found that the main defendant, Shao, exploited a loophole in the supplier settlement system to embezzle significant funds through fraudulent means [3]. Group 2: Financial Reporting Violations - The company has been found to have disclosed inaccurate financial data from 2016 to 2023, leading to corrections in its financial statements [5]. - The Hubei Securities Regulatory Bureau issued a warning to Zhongbai Group for failing to disclose material litigation and arbitration amounts in a timely manner, which violated several regulations [6][7]. Group 3: Company Response and Future Actions - Zhongbai Group has acknowledged the issues raised in the warning and committed to rectifying the problems, enhancing financial management, and improving information disclosure quality to prevent future occurrences [7].