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the case was caused by the fact that in 2014, xinhu group purchased xinjiang yikuang company with a huge amount of money and operated it in the depths of a mine that "no one cares about". at that time, xinjiang yikuang company only had the prospecting rights and was in a loss-making state. however, with the efforts of the "xinhu group", it gradually transformed from a "slum" into a "gold mine".

however, the gears of fate are not simply turning. in 2018, the hubei huangshi municipal supervisory committee launched an investigation into the suspected illegal activities of hu, a former shareholder of huayi loncin, and in march 2019, huayi loncin was directly prosecuted to the tianmen court for the crime of corporate bribery. however, xinhu group remained silent throughout the process.

in october 2022, the tianmen court made a judgment, declaring that huayi loncin company "guilty of corporate bribery" and exempted it from criminal punishment, but its equity was still recovered.

"it's like playing a game where the rules are written by others and you can only follow them," commented a legal professional.

however, xinhu group believes that they only paid a reasonable price and obtained actual ownership in accordance with the provisions of article 311 of the civil code on good faith acquisition.

today, the fate of the case is still hanging in the air. this is not just an ordinary business dispute, it also represents a power game and the change of an era.