According to China News Weekly, on July 7, Yuguang Technology announced that its board of directors approved the appointment of Li Ji as deputy general manager. Li Ji, born in 1990, is the son of Li Yuexian. On July 4, Yuguang Technology received a notice from Li Yuexian’s family stating that the company had been issued a “Detention Notice” for Li Yuexian by the Huaxian Supervision Committee, and he had been placed under detention. According to Jiemian News, the company is the first listed yacht manufacturer in China, known as the “first yacht stock.” Due to the sudden negative news, Yuguang Technology opened sharply lower on July 7 and closed down 10.24%, marking its largest single-day decline this year.
Public records show that Li Yuexian was born in 1963, holds a bachelor’s degree, and is a senior engineer. Starting in 1991, he served as a technician and factory director at Hunan Wenyuan Company. From July 1991 to December 2008, he was the chairman and general manager of Hunan Fengchao Materials Co., Ltd. From June 2003 to December 2008, he served as chairman and general manager of the company’s predecessor, Hunan Sunbird Yacht Manufacturing Co., Ltd. Currently, Li Yuexian holds positions as chairman of Yuguang Technology, chairman of Hunan Sunbird Holding Co., Ltd., chairman of Chengdu Yuguang Electronics Co., Ltd., executive director of Chengdu Haohan Xin Guang Microelectronics Technology Co., Ltd., and director of Zhuhai Sunbird Yacht Manufacturing Co., Ltd.
Qichacha App shows that Yuguang Technology Group Co., Ltd. was established in June 2003, with Li Yuexian as its legal representative. The company has a registered capital of approximately 1.02 billion yuan and operates in shipbuilding, ship modification, ship dismantling, ship design, ship repair, aerospace equipment manufacturing, and more. Shareholder information indicates that the company is jointly held by Hunan Sunbird Holding Co., Ltd., Sunbird Holding – Caixin Securities – 19 Taikong EB Guarantee and Trust Property Special Account, among others. Key personnel information reveals that Li Yuexian serves as the company’s chairman and holds a 2.6% stake.
