On October 30, media reports emerged regarding a consumer, Ms. Cao, who allegedly paid a deposit of 3.618 million yuan at a Zhou Liu Fu store in Kunming for gold purchases driven by investment purposes in January 2026, but has not received the goods nor had the funds returned. The store manager, identified as Tang Xudong, has been criminally detained by local police on suspicion of duty embezzlement. The store in question is a wholly-owned subsidiary of ZHOU LIU FU (06168).
According to reports, Ms. Cao is demanding that the company bear joint liability. The case has been filed by the Guandu District People's Court in Kunming, with property preservation completed and 4.3416 million yuan frozen in available account balances.
Today, ZHOU LIU FU (06168) issued a statement saying it "noted recent media reports concerning the incident at the company's Kunming subsidiary store, and the relevant statements quoted from Ms. Cao reflect only part of the situation, not the full picture."
The statement noted, "The case is currently in the court trial phase, and the nature of the funds involved concerning Ms. Cao awaits clarification through trial. Everything shall be subject to the effective judgment made by the People's Court. The company is actively cooperating with judicial authorities in handling the matter in accordance with the law and looks forward to the facts of the case being clarified as soon as possible."
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