前“广州首富”张劲，案子判了！其身家曾达400亿元，旗下公司一度以2851亿元营收成“世界500强”

Core Viewpoint - ST Xuefa is facing legal issues involving its actual controller Zhang Jin and its affiliate Xuesong Holdings, with allegations of fundraising fraud and illegal public deposit acceptance. The company has not yet received the court's judgment, and Zhang Jin's shares are largely pledged and frozen [1][2]. Group 1: Legal and Financial Issues - On February 10, ST Xuefa was informed of a court ruling regarding allegations against Xuesong Holdings and Zhang Jin for fundraising fraud and other charges [1]. - Zhang Jin, the actual controller, does not hold any position in the company and has a 69.40% stake through affiliated companies, most of which are under pledge and judicial freeze [1]. - The company announced an expected loss of 1.74 billion to 2.45 billion yuan for the previous year, indicating a worsening financial situation [6]. Group 2: Background on Zhang Jin and Xuesong Holdings - Zhang Jin, born in 1971, has a notable educational background and was once recognized as one of the wealthiest individuals in Guangzhou, ranking 50th on the 2020 New Fortune 500 list with a wealth of 428.8 billion yuan [3]. - Xuesong Holdings, which was once a leading enterprise in the domestic bulk commodity sector, faced financial difficulties starting in 2021, leading to overdue payments on various financial products [5]. Group 3: Company Structure and Independence - ST Xuefa has emphasized its operational independence from Xuesong Holdings, stating that it maintains separate business, personnel, assets, and financial structures [4]. - The company has previously communicated its commitment to healthy development and compliance with operational standards, despite the ongoing legal issues surrounding its actual controller [4].