Resignation from Yunnan Baiyao, Fujian’s former richest man Chen Fashu under investigation? Company response

On the evening of May 26th, Yunnan Baiyao announced that shareholder Chen Fashu had resigned from his position as a director of the company. Before resigning, Chen Fashu himself was caught up in rumors of being investigated. On the afternoon of the 27th, personnel from the Yunnan Baiyao Board Secretary Office replied that Chen Fashu’s resignation was mainly due to job adjustments, and after resigning, he no longer held any positions in the company or its controlling subsidiaries. At present, the company has not received any relevant information about Chen Fashu’s investigation.

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