ST Xi has been detained: the actual controller and chairman have been placed in custody, authorizing the general manager to carry out relevant work.

ST Xi Fa announced that the actual controller and chairman of the company, Luo Xi, has been detained by the Supervisory Committee of the Tibet Autonomous Region. Luo Xi has authorized the company's general manager, Chen Tingting, to communicate and promote the existing plan for pre-restructuring and major asset reorganization of the company, to attend and exercise voting rights at shareholders' meetings on behalf of him. The duties of the chairman will be temporarily performed by the vice chairman, Liao Chuan. Currently, the company's control remains unchanged, and other senior executives are performing their duties as usual, with normal business operations. The company is in the pre-restructuring stage, and major asset reorganization is underway. There are uncertainties in related matters, so investors are advised to pay attention to the risks.