Zeng Congqin, the Party Committee Secretary and Chairman of Sichuan Yibin Wuliangye Group Co., Ltd., as well as the Party Committee Secretary and Chairman of Wuliangye Yibin Co.,Ltd., is currently undergoing disciplinary review and supervisory investigation by the Yibin Municipal Commission for Discipline Inspection and Supervision. The investigation was announced on February 28, citing suspected serious violations of discipline and law.

Zeng Congqin, male, of Han ethnicity, was born in June 1968 in Yibin, Sichuan Province. He holds an on-the-job doctoral degree and joined the Communist Party of China in June 1988, beginning his work in July of the same year. His career spans multiple roles across various government and corporate positions in Changning County and Yibin City, including serving as a standing committee member and head of propaganda in Changning County, as well as holding key positions in economic development and planning. From October 2016 to July 2019, he served as the Party Secretary of Cuiping District in Yibin and concurrently as the Party Working Committee Secretary of Yibin Lingang Economic and Technological Development Zone. Between July 2019 and February 2022, he held leadership roles at Wuliangye Yibin Co.,Ltd., including Deputy Secretary of the Party Committee, General Manager, Director, and Vice Chairman, before assuming his current positions as Party Committee Secretary and Chairman of both the group and listed companies.

Recent market rumors had suggested Zeng Congqin was taken away for investigation. Media reports citing sources close to the company declined to comment on the matter. As of the latest update, Zeng Congqin's name has been removed from the list of group and company leaders on Wuliangye Yibin Co.,Ltd.'s official website.

Wuliangye Yibin Co.,Ltd. is a large state-owned enterprise group primarily focused on the liquor industry, with additional operations in green packaging, machinery manufacturing, smart logistics, financial investment, and health industries. Its flagship product, Wuliangye liquor, is a renowned representative of strong-aroma baijiu in China and a celebrated national brand, having repeatedly received awards and being included in the first batch of the China-EU Agreement on Geographical Indications.

As of the market close on February 27, Wuliangye Yibin Co.,Ltd.'s stock price stood at 104.05 yuan per share, with a total market capitalization of approximately 403.881 billion yuan.