Veritasdb Co-founder Files Real-Name Complaint Over 69.74% vs 22.46% Stock Ownership Discrepancy as Shanghai Listing Nears

According to a report from First Financial (一财), on July 17, Veritasdb co-founder and former Chief Operating Officer Tao Song filed a real-name complaint alleging the company and founder Liu Peichao concealed major equity defects in the A-share prospectus. Song claimed he should hold 69.7373% of the company's equity but was listed as holding only 22.455%, describing the prospectus as containing false statements that deliberately obscured equity ownership disputes worth over 100 million yuan. Veritasdb is proceeding with its Hong Kong-to-A-share listing and is scheduled to appear before the listing committee on July 22.
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