Sudar Co., Ltd. Chairman Li Xiyuan Placed Under Detention

MaticHoleFiller · 2026-03-16T21:22:13+00:00

Suida Group announced that its actual controller Li Xiyuan has been placed under retention by the Commission for Discipline Inspection due to case filing. However, the company's management is operating normally and production operations remain unaffected. No investigation documents have been received to date, pending further developments. A brief biography and performance summary of Li Xiyuan has also been disclosed.

MaticHoleFiller

2026-03-16 21:22:13

Abstract generation in progress

（Source: V View Financial Reports）

On March 16, Zhengzhou Suda Industrial Machinery Service Co., Ltd. (hereinafter referred to as “Suda Co.”) announced that it received a notice from the family of the company’s actual controller and chairman, Li Xiyuan. On March 13, 2026, Li Xiyuan received a “Notice of Filing” and a “Notice of Detention” issued by the Bengbu City Bengshan District Supervisory Committee, and Li Xiyuan has been detained.

Source: Suda Co. Announcement

Suda Co. stated that as of the date of this announcement, other directors and senior management are performing their duties normally, the company’s control has not changed, and its production and operation are normal. The above matters will not have a significant impact on the company’s daily operations. Currently, the company has not received any investigation or cooperation documents from the authorities regarding the company, and the progress and conclusions of the detention investigation are unknown. The company will continue to monitor the situation and strictly fulfill its information disclosure obligations in accordance with relevant regulations.

According to the resume previously disclosed by Suda Co., Li Xiyuan was born in August 1973, is a Chinese national, has no foreign residence rights, and holds an EMBA master’s degree. From July 1996 to June 1998, he served as a technician at Guangzhou Mechanical Science Research Institute Co., Ltd. (formerly Guangzhou Machine Tool Research Institute of the Ministry of Machinery Industry); from June 1998 to August 2009, he was the general manager of Shanghai Gano. In 2009, he participated in establishing Suda Limited, serving as director and general manager from September 2009 to September 2014; from September 2014 to April 2021, he was chairman and general manager of Suda Co.; since April 2021, he has been chairman of Suda Co.

Information from the company’s official website shows that Suda Co.'s main business includes: on-site equipment operation and maintenance services, spare parts supply management services, repair and remanufacturing, full lifecycle professional contracting services, second-hand equipment leasing and sales (Yizhuangbei), and connecting parts products.

In terms of performance, Suda Co. achieved revenue of 724 million yuan in the first three quarters of 2025, a decrease of 14.52% year-on-year; net profit attributable to shareholders of the listed company was 75.3385 million yuan, a decrease of 32.89% year-on-year.

On March 16, Suda Co. closed up 0.25% at 39.96 yuan per share, with a total market value of 3 billion yuan.

(The views expressed in this article are for reference only and do not constitute investment advice. Investment involves risks; please proceed with caution.)

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