Controversies
Controversies tied to this brand in public sources. A listing is not a finding of fault.
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2017
Founder Technology penalized for long-term failure to truthfully disclose related-party transactions
The CSRC determined that Founder Technology failed to disclose as required a large number of transactions with affiliated distributors, with its main sales business occurring through related transactions, and imposed administrative penalties on the company and responsible persons. Progress: administrative penalty. Entity: Founder Technology Group Co., Ltd.
2017
Concealed related-party transactions violated disclosure rules, triggering first securities dispute model judgment
Founder Technology failed to disclose major related-party transactions with 23 distributors and persons acting in concert relationships; in 2017 the CSRC fined the company, Founder Group and others 600,000 yuan each; the investor compensation case became China's first securities dispute model judgment, and Founder Technology lost. Fined and compensate investors.