China Court Restricts New Universal Science and Technology Chairman for Alleged Overspending Following Non-Payment of Obligations
MT Newswires Live
Jun 19, 2025
A court in Jiangxi province, China issued a restriction order against New Universal Science and Technology (SHE:300472) Chairman Wu Xianlong for non-esssential spending, according to a Thursday filing with the Shenzhen bourse.
The restriction disallows a respondent from what China calls high-level consumption and non-essential consumption, such as riding planes, taking first-class sleeper trains, purchasing property, and other actions, the filing said.
The restriction stems from a failure to settle payables, among other obligations, the filing said.
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