Punay Shares: Prosecuted for Suspected Smuggling of Goods Prohibited by the State from Importing and Exporting

Punay Co., Ltd. Announcement: The company has recently received an “Indictment” issued by the People’s Procuratorate of Yingkou City, Liaoning Province. The People’s Procuratorate of Yingkou City believes that the company and relevant personnel are suspected of violating customs regulations: without authorization, they used methods of falsely declaring the descriptions of the goods to evade the regulatory supervision of export license requirements for dual-use items and technologies, and smuggled natural flake graphite for export. They should be held criminally liable for the crime of smuggling goods prohibited from import and export by the state. The illegal declarations involved in the export of natural flake graphite totaled 1,243.55 tons, with an amount involved of 5.9847 million yuan (RMB 598.47 ten-thousand). The defendant units include Punay Co., Ltd. and Yingkou Wanhua Logistics Development Co., Ltd. The defendant individuals include Qi Changsheng, Meng Qiufeng, Yao Shuyang, and Wang Libo.