Qianye Jewelry Faces Wage Arrears and Management Disruption

Beijing-based jewelry chain Qianye Jewelry has been accused of delaying employee wages, while staff also say senior management has gone out of contact, according to Jiemian News. Former employee Zhang Xuan said he worked at the company from May to August 2026 and received only his May salary in mid-July, with pay for the other three months still unpaid. He said many employees went to labor arbitration over the issue, and screenshots he shared showed more than 60 people in an employee rights group. Jiemian News also reported that it could not reach the company by phone or email. Zhang said he was told on September 7 that “the boss disappeared” and that bank staff had arrived, while internal rumors claimed the owner had fled to Thailand. The company’s self-operated e-commerce business has largely stalled, with its Tmall store removing all products and no brand stores found on JD.com, Douyin or Pinduoduo. Its Beijing physical stores said they were franchise outlets and were operating normally. Founded in Beijing in 2001 and listed on the New Third Board in 2015, Qianye Jewelry is controlled by Lin Mingjie, Gao Xiaosong and Lin Huixian, who held 52.37% of the company as of the end of June 2026. The company has been shrinking its self-operated business and shifting toward a lighter franchise model. Its revenue fell 43% year on year to 438 million yuan in 2025 and dropped another 26% to 213 million yuan in the first half of 2026. At the end of June 2026, it had 86 employees, 93 yuan in cash, 1.535 billion yuan of inventory and short-term debt that remained in the hundreds of millions to billions of yuan range.