New Universal Science and Technology chairman restricted from high spending

New Universal Science And Technology (SZSE:300472) announced that its actual controller and chairman, Wu Xianlong, has been restricted from high consumption by the People's Court of Linchuan District, Fuzhou City, Jiangxi Province. The court order, (2025) Gan 1002 Zhi 567, stems from a loan contract dispute with Fuzhou City Linchuan District State-owned Assets Investment Holding Group. The restriction limits Wu from engaging in various high-end spending activities. The company is pursuing legal avenues, including filing for retrieval of enforcement materials and a petition for an objection to enforcement, and stated the incident would not impact company operations.