Beis Mei: The company's then-actual controller, Chen Feng, was fined 4.5 million yuan

Beimei Announcement, the company’s then actual controller Chen Feng was issued an “Administrative Penalty Decision” by the Zhejiang Regulatory Bureau of the China Securities Regulatory Commission for failing to fulfill the obligation of mandatory tender offer and for violations of information disclosure laws and regulations.
Chen Feng was ordered to correct the violations, given a warning, and fined 4.5 million yuan.
Specifically, he was fined 1.5 million yuan for failing to fulfill the obligation of mandatory tender offer, and 3 million yuan for concealing changes in shareholding information, resulting in false disclosures.