The controlling shareholder of the yard became the biggest investor in Tianjin Guoheng in 2012 through his Liyuan Investment company.

Last month, Ren sought to call a shareholders' meeting to reconstitute the board.

But directors "unreasonably resisted" this and alleged the unspecified "misdeeds," YZJ said.

Liyuan Investment has confidentially submitted its response to the allegations to the Shenzhen Stock Exchange.

And Ren has personally assured YZJ the claims are "mischievous, and calculated to damage him and thwart Liyuan Investment’s corporate objectives in relation to Tianjin Guoheng."

He