Xuetian Salt Industry Corrects Asset Purchase Plan After Counterparty Is Under CSRC Investigation

On September 13, Xuetian Salt Industry issued a correction notice for its draft plan to acquire assets through a share issuance and cash payment, while also raising supporting funds in a related-party transaction, according to Jiemian News. The company said counterparty Liu Gejun was placed under investigation by China's Securities Regulatory Commission (CSRC) on March 20, 2026 over suspected insider trading in other companies' shares. Xuetian Salt Industry said the probe concerns Liu's personal trading activity, does not involve the company's own shares, and is unrelated to the proposed transaction.