After two and a half years, Santech Cableway and related parties have been issued a total fine of 34.1 million.

After being under a case investigation for more than two and a half years, Sansiteway Skyway (002159.SZ) announced on the evening of March 29 that it had received a 《Administrative Penalty Pre-Notice》.

According to the announcement, between 2019 and 2022, Sansiteway Skyway had multiple instances of non-operating funds occupation with its then indirect controlling shareholder, Contemporary Group. Specifically, the amount involved in 2019 was RMB 1.423 billion, in 2020 it was RMB 370 million, in 2021 it failed to disclose the funds transferred out in a timely manner totaling RMB 1.904 billion, and in January 2022 it failed to disclose the funds transferred out in a timely manner totaling RMB 500 million.

These violations led Sansiteway Skyway to fail to disclose the non-operating funds occupation by related parties in a timely manner, and its 2019 annual report and 2020 annual report contained major omissions.

In response, the Hubei Securities Regulatory Commission gave Sansiteway Skyway a warning and imposed a fine of RMB 10.5 million.

The former chairman of the board, Lu Sheng, was given a warning and fined RMB 3 million; the two former general managers, Zhang Quan and Wang Lixin, were given warnings and fined RMB 4.5 million and RMB 2.5 million, respectively; the former chief accountant, Zhang Yunying, was given a warning and fined RMB 2.6 million.

Meanwhile, as the then “Contemporary” faction’s key figure, the actual controller of Sansiteway Skyway, Ai Luming, allegedly instructed Sansiteway Skyway to engage in the related illegal conduct, with particularly bad conduct and serious违法 circumstances. The Hubei Securities Regulatory Commission, while imposing a fine of RMB 11 million on him, also proposed to take a lifelong ban from the securities market against him.

Public information shows that the company is committed to building a leisure vacation tourism destination with “Skyway + Scenic Spots + Accommodations and Commercial Supporting Facilities” as its core product. It has also formed industrial interconnection among multiple tourism destination projects to leverage brand advantages and achieve chain operations.

Sansiteway Skyway’s 2025 third-quarter performance report shows that in the first three quarters of 2025, the company’s operating revenue was RMB 503 million, down 9.07% year over year; net profit attributable to shareholders of the listed company was RMB 138 million, down 11.07% year over year.

As of 10:21 a.m. on March 30, Sansiteway Skyway’s share price was RMB 18.79 per share, with a total market value of RMB 3.3 billion. (Produced by 《R&D Weekly - Caishi Hui》)

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