The founders of the Chinese Semcorp, which built a factory in Debrecen, were put under house arrest

Local News

According to the Ministry of Foreign Affairs, the two owners of Semcorp, which built the battery film factory in Debrecen, were placed under house arrest in China because, according to the suspicion of the local authorities, they secretly wanted to take their company’s capital abroad.

According to the news, 1.4 billion dollars, or about HUF 520 billion at the current exchange rate, were channeled out of the Semcorp Group. The Hungarian government gave HUF 13 billion in non-refundable support to the Chinese company’s factory construction in Debrecen – reports

The Chinese authorities have launched an investigation against the founder-owners of Semcorp Advanced Materials Group, which is building a battery film factory in Debrecen, and have placed Paul Xiaoming Lee and Tony Xiaohua Li under house arrest. So far, no news has appeared in Hungary about the investigation taking place in China, but the Ministry of Foreign Affairs and Trade has already been able to examine the effects of the measures.

The ministry’s press department did not respond to questions about the consequences of the investigation in Hungary but stated that according to the information received from the company, there are no interruptions in the construction in Debrecen.

The billionaire brothers and sisters were raided by the police at the end of last year, they are suspected of secretly trying to take their company’s capital abroad.

Photo: Péter Szijjártó Minister of Foreign Affairs and Trade, James Heng-Kuang Si, Managing Director of SEMCORP Hungary Kft., Fidesz Parliamentarian László Pósán and Mayor László Papp (Fidesz-KDNP) (b-j) Debrecen separator film related to the lithium-ion batteries of the Chinese company SEMCORP -production plant on September 13, 2021. MTI/Zsolt Czeglédi

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