Yili reported that the former chairman misappropriated 240 million public funds. The stock price plunged more than 7% in the afternoon.

On October 24th, this morning, Zou Guangxiang and Liu Chengkun, who were involved in the “Ili rumor case”, were convicted of seeking crimes of provocation. The court sentenced Zou Guangxiang to one year in prison for procrastination and suspended for one year and six months. Liu Chengkun was sentenced to eight months in prison. At the same time, Yili issued a report letter on his official website, and the key person behind the public identification of the rumor incident was Zheng Junhuai, the former chairman of Yili.

The Yili Group published on the official website that “I have been repeatedly ruined for many years, and I was forced to open a real-name report, and asked for a thorough investigation of Zheng Junhuai and his umbrella.” The key person behind the public confession was the former chairman of Yili, Zheng Junhuai, who made three accusations against Zheng Junhuai. And appealed to the public prosecution of the case of misappropriation of 240 million yuan in the year.

In response to this case, Yili detailed in the report letter how the behind-the-scenes manipulators made rumors, and explained the historical background of the deep involvement. Yili also said that the relevant information on the suspected misappropriation of 240 million public funds has been formally submitted to the relevant departments, hoping to have a fair result.