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On August 5, Wen's shares issued an announcement stating that Wen Pengcheng, one of the actual controllers of Wen's shares and director of Wen Pengcheng, was issued a warning letter by the Guangdong Securities Regulatory Bureau due to violations of the letter of reduction
The Guangdong Securities Regulatory Bureau pointed out that on November 5, 2020, Wen Pengcheng reduced his holdings of 96,800 Wen's shares on the Shenzhen Stock Exchange through a centralized bidding transaction
On August 5, 2021, Wen's shares stated that it had recently received a letter of decision on administrative supervision measures from the Guangdong Securities Regulatory Bureau, and Wen Pengcheng was issued a warning letter
A reporter from the Beijing News noted that in November 2020, Wen Pengcheng also received a supervisory letter from the Shenzhen Stock Exchange due to the above-mentioned illegal shareholding reduction