According to Guao Technology's announcement, Chen Chongjun, the company's former controlling shareholder and actual controller, was sentenced to six years in prison and fined RMB 4 million for manipulating the securities market. Chen Chongjun no longer holds a specific position in the company. The above ruling is a shareholder's personal act and will not have a significant adverse impact on the company's production and operation. The company is currently operating normally. This judgment is a first instance judgment and has not yet entered into force. For example, Chen Chongjun filed an appeal within the statutory period, and there is still uncertainty about the final judgment and subsequent execution results.

According to Guao Technology's announcement, Chen Chongjun, the company's former controlling shareholder and actual controller, was sentenced to six years in prison and fined RMB 4 million for manipulating the securities market. Chen Chongjun no longer holds a specific position in the company. The above ruling is a shareholder's personal act and will not have a significant adverse impact on the company's production and operation. The company is currently operating normally. This judgment is a first instance judgment and has not yet entered into force. For example, Chen Chongjun filed an appeal within the statutory period, and there is still uncertainty about the final judgment and subsequent execution results.