Winning Health faces credit review amid legal troubles

CCX Credit Rating Co. announced it is closely monitoring Winning Health Technology Group's creditworthiness after its subsidiary, Shenzhen Weining Zhongtian Software Co., and former chairman Zhou Wei were convicted of unit bribery. Shenzhen Weining Zhongtian was fined 800,000 yuan, while Zhou Wei received a sentence of one year and six months in prison and a fine of 200,000 yuan. Both parties plan to appeal the first-instance verdict.

Despite the ongoing legal issues, CCX Credit has affirmed Winning Health's AA issuer credit rating and "Weining Convertible Bond" AA rating with a stable outlook. This decision considers the company's current status, with other directors and senior management performing their duties normally. Shenzhen Weining Zhongtian's revenue accounted for less than 1% of the group's consolidated revenue from 2022 to 2024.

Zhou Wei resigned from his chairman and director roles on November 10, 2025. Liu Ning, a co-founder with 6.35% ownership, has been appointed as the new chairman. Zhou Cheng, Zhou Wei's son and current deputy general manager of the Shanghai region, with 19.15% ownership, was nominated as a non-independent director candidate. CCX Credit will continue to monitor the impact of these events on corporate governance, operations, and financing activities.