Core Viewpoint - The former controlling shareholder and actual controller of Guoao Technology, Chen Chongjun, has been sentenced to six years in prison for manipulating the securities market, along with a fine of 4 million RMB [1][2]. Group 1: Legal Proceedings - Chen Chongjun was criminally detained on April 18, 2024, and arrested on May 24, 2024, for the crime of manipulating the securities market [2]. - The judgment is a first-instance ruling and has not yet taken effect; if Chen Chongjun appeals within the legal timeframe, the final judgment and subsequent execution results remain uncertain [6]. Group 2: Company Impact - Guoao Technology stated that the judgment pertains to the personal actions of a shareholder and will not have a significant adverse impact on the company's production and operations; the company is currently operating normally [6]. - Chen Chongjun, born in 1968, is the founder of Guoao Technology and previously held the positions of chairman and general manager for a considerable time. He resigned as general manager in October 2021 and was no longer a director or chairman after the board reshuffle in May 2023 [7]. - On December 14, 2023, Guoao Technology swiftly changed its actual controller to Xu Yinghui [7]. - As of December 18, 2023, Guoao Technology's stock price closed at 16.70 RMB, down 0.60%, following a previous trading day where it recorded a 20% limit-up [7].