Core Viewpoint - The company is facing significant financial and regulatory challenges due to the non-repayment of funds by its controlling shareholder, which may lead to the suspension of its stock and convertible bonds if corrective actions are not taken by the deadline of June 19, 2025 [1][5]. Group 1: Financial Situation - As of the announcement date, the controlling shareholder, Dongfang Shishang Investment Co., Ltd., has returned 0 yuan of the 387 million yuan (approximately 58.5 million USD) in misappropriated funds [2][4]. - The company is required to recover all misappropriated funds by the deadline, but it is expected to struggle to meet this requirement [1][5]. Group 2: Regulatory Actions - The company received a regulatory notice from the Beijing Securities Regulatory Bureau mandating corrective actions due to the misappropriation of funds [2]. - The company has initiated legal actions against its controlling shareholder and related parties to recover the misappropriated funds, but has faced setbacks in court [3][4]. Group 3: Potential Consequences - If the company fails to recover the misappropriated funds by the deadline, its stock and convertible bonds may be suspended from trading starting June 20, 2025, for a period not exceeding two months [1][5]. - Continued failure to rectify the situation may lead to delisting warnings and ultimately the termination of trading for the company's stock and bonds [4][5]. Group 4: Company Measures - The company is actively pursuing measures to recover the misappropriated funds and has communicated with various parties involved to expedite repayment [3][4]. - The company has also taken steps to enhance its internal controls and governance to prevent future occurrences of similar issues [7].

Core Viewpoint - The company Oriental Fashion, known as the "first listed driving school," is facing severe internal management issues and potential delisting due to significant non-operational fund occupation and regulatory violations [1][2][3]. Fund Occupation and Regulatory Actions - Oriental Fashion's controlling shareholder and related parties have occupied approximately 387 million yuan of company funds through non-operational means, as confirmed by the Beijing Securities Regulatory Bureau [1]. - The Shanghai Stock Exchange has mandated that Oriental Fashion recover the occupied funds by June 19, 2024, or face suspension of trading for up to two months, with potential delisting if issues remain unresolved [1][2]. Internal Management Issues - The company has experienced significant turmoil, including the arrest of its former chairman for market manipulation and the recent dismissal of the current chairman by the board [2][7]. - There are multiple instances of fund occupation and internal control failures, including a 35 million yuan deduction by Tianjin Haihe Zhongtai Commercial Factoring Co., which was not successfully contested in court [6][7]. Financial Performance - Oriental Fashion reported a revenue of 807 million yuan in 2023, a decrease of 22.55% year-on-year, with a net loss of 902 million yuan, marking the third consecutive year of losses totaling 1.863 billion yuan [7]. - The company's net assets have diminished to 926 million yuan, raising concerns about the protection of minority shareholders' interests [7].