Recently, Zhangzidao Group and related persons in charge have been punished by the Shenzhen Stock Exchange due to major accounting errors in financial accounting reports, false records in temporary announcements and other violations.
Among them, Wu Hougang, then chairman and president of Zhangzidao Group, Liang Jun, then director and executive vice president, Gou Rong, then chief financial officer, and Sun Fujun, then secretary of the board and vice president, were publicly condemned and criticized by the Shenzhen Stock Exchange. It was determined that Wu Hougang was not fit to serve as a director, supervisor or senior manager of a listed company for life.