# Xilinmen

A Bed of Thorns: The Governance Collapse of China’s Mattress King

Once China's leading mattress manufacturer, *ST Xilinmen is facing potential delisting after disclosing 871 million RMB in unauthorized litigation and a total collapse of internal governance. The crisis follows years of failed diversification into film and real estate by its founder, Chen Ayu, who allegedly misappropriated company funds to cover personal debt.

NeMo2026年6月2日 12:38

#Xilinmen#Corporate Governance#A-shares

Three women discuss at a conference table in a modern office setting, using laptops and documents.

Business

A Rude Awakening for China’s Mattress King: Inside the $14 Million Scandal at Xilinmen

Xilinmen Furniture is facing a major governance crisis after 100 million RMB was illegally transferred from a subsidiary's account, leading to a police investigation and a massive asset freeze. The incident highlights critical failures in internal controls and the risks of family-dominated management in one of China's leading consumer goods companies.

NeMo2026年3月30日 14:58

#Xilinmen#Corporate Fraud#Sleemon Furniture