On the evening of March 16, Suda Shares (001277) announced that the company received a notice from the family of the company’s actual controller and chairman Li Xiyuan. It received a “Notice of Filing” and a “Notice of Lien” about Li Xiyuan issued by the Bengshan District Supervisory Committee of Bengbu City on March 13, 2026. The company’s actual controller and chairman Li Xiyuan was detained.
Public information shows that Suda Co., Ltd. is a professional service company focusing on the full life cycle management of machinery and equipment, and is committed to providing high-quality comprehensive aftermarket services for machinery and equipment to industrial customers. The company's business currently focuses on hydraulic supports for fully mechanized coal mining equipment, providing comprehensive after-market services such as repair and remanufacturing, spare parts supply management, and second-hand equipment rental and sales for coal production companies, and providing fluid connector products for machinery and equipment manufacturers.
Suda Co., Ltd. has 6 large-scale maintenance and remanufacturing bases, and has added two new maintenance centers in Shuozhou and Changzhi, Shanxi, and its market coverage continues to expand. The company has established a three-level warehousing and logistics system with Zhengzhou as the central warehouse and radiating to many customer gathering areas. It has established 7 customer service centers and 10 service outlets, and its business scale is firmly in the leading position in the industry.
From 2022 to 2024, Suda Co., Ltd. has ranked first in the hydraulic support repair and remanufacturing market share for three consecutive years, and is also the largest domestic coal mine machinery fluid connection parts service provider. At present, the company has a professional R&D team of more than 60 people and a production technology team of more than 600 people. It is one of the few production service companies that has obtained the Beijing Academy of Coal Science and Technology's remanufactured support and pressure frame test qualification report. After repair and remanufacturing by Suda Co., Ltd., the performance of the used fully mechanized mining equipment is no less than that of new equipment.
Regarding the lien on the actual controller and chairman of the board, Suda shares stated that the company has a complete governance structure and internal control mechanism, and will operate in accordance with the "Company Law of the People's Republic of China", the "Shenzhen Stock Exchange Stock Listing Rules", the "Governance Code of Listed Companies" and the "Articles of Association" and other laws, regulations and related systems.
As of the disclosure date of this announcement, the company's other directors and senior managers have performed their duties normally, the company's control has not changed, the company's production and operations are in normal condition, and the above matters will not have a significant impact on the company's daily operating activities. At present, the company has not received any investigation or cooperation documents from the competent authorities on the company, and it is not yet aware of the progress and conclusion of the lien investigation. The company will continue to pay attention to the progress of the above matters and perform its information disclosure obligations in a timely manner in strict accordance with relevant regulations.
The company will continue to pay attention to the follow-up progress of the above-mentioned matters and perform its information disclosure obligations in a timely manner in strict accordance with the provisions and requirements of relevant laws and regulations.
