POW! Entertainment Inc. (fka POWN)

[rickn23]

Chengxing International: The President was detained by Shanghai Public Security Bureau

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[Ming Pao News] Recently, the chairman of the listed company was arrested. Chengxing International (2662) announced after the market closed on Friday. Chairman and executive director Luo Jing was criminally detained by the Yangpu branch of the Shanghai Public Security Bureau, but it was not certain that Luo Jing was criminal. Reasons for detention. The Group's operations and the functions of the Board of Directors have remained stable and have not been materially adversely affected by the above events. They will endeavour to ensure the continued operation of the Group and the interests of its shareholders and employees are still protected. Luo Jing is also the actual controller and chairman of the Shanghai Stock Exchange listed on the Shanghai Stock Exchange (Shanghai: 600083). Bo Xin shares announced at noon on Friday that Luo Jing and director and financial director Jiang Shaoyang were respectively on June 20 and June 25. Shanghai Public Security Bureau criminal detention. Boss shares fell 9.97% last Friday, and Chengxing International fell 8.93% to 4.59 yuan.

In recent years, Cheng Xing International has moved a lot of activities. After selling the electronic manufacturing service business, it has developed the development of pan-entertainment intellectual property (IP). In 2017, it partnered with "Manga Godfather" Stan Lee to develop a superhero IP, but last May Stan Lee created his work. The exclusive right of the work filed a lawsuit against POW! Entertainment, a subsidiary of Chengxing International. Stan Lee suddenly withdrew the lawsuit two months later, and both parties said that they would continue to work closely together.