The Jinghua City case: Shen Qingjing secures bail of 30 million, and the rise of Wei Jing's Xiao Shen, known as one of the "Four Kings" of Taiwan stocks, is revealed.

Taipei District Court issued a first-instance verdict on the Jinghua City corruption case on March 26, 2026. Shen Qingjing of the Wei-king Group was sentenced to 10 years in prison, fined 20 million yuan, and deprived of civil rights for 5 years for offenses including bribery and profiteering. Yesterday, the first-instance ruling came out: the Taipei District Court ordered Shen Qingjing to post an additional bond of 30 million yuan, and he immediately mobilized funds the same day.

Many people don’t know that in the era when money-making was booming in Taiwan, Shen Qingjing was listed alongside Leiberlong (Yuetian big household), Qiu Minghong (Rongan Qiu), and You Huaiyin (Abula) as one of the “Four Great Kings of the Taiwan Stock Market.” Unlike other big players who leaned more toward short-term trading, Shen Qingjing was skilled at using methods such as mergers and acquisitions, and through this he also built his own Wei-king Group.

In Taiwan’s money-booming era, Shen Qingjing once ranked among the “Four Great Kings of the Taiwan Stock Market”

Looking back at Shen Qingjing’s early background, when he was young he was once involved with a gang and ended up in prison. After that, he gradually shifted toward business activities, starting out with businesses related to shipping, trading, and textiles. During the period when Taiwan’s export-oriented economy grew rapidly, he moved into the textile quota market. He took advantage of the arbitrage opportunities within the system and industrial structure to quickly accumulate his first fortune, and then further moved into stock market operations and large-scale investments, building a foundation of capital and connections.

During the Taiwan stock market boom in the 1980s, Shen Qingjing, together with Leiberlong (Yuetian big household), Qiu Minghong (Rongan Qiu), and You Huaiyin (Abula), was ranked as one of the “Four Great Kings of the Taiwan Stock Market,” becoming an important representative figure of market funding conditions and sentiment at the time. Unlike other big players who focused more on short-term trading, Shen Qingjing was more inclined to use methods such as mergers and acquisitions, gradually introducing financial capital into real-economy businesses and laying the groundwork for his later business footprint.

Behind the Jinghua City project is Dingyue Development, with illegal gains reaching as high as 12.1 billion yuan

After accumulating capital, Shen Qingjing shifted his focus to real-economy operations and built today’s Wei-king Group. The group’s business map spans areas such as real estate, petrochemicals, finance, and cultural and creative industries. Among them, China Petrochemical Industrial Development Company (Sinopec Chemical Industry) and China International Engineering were the two main cores. Through these two major entities, the group extended outward, carrying out cross-industry integration and investment planning.

However, the Jinghua City case also became a major turning point in his business career. Prosecutors alleged that Shen Qingjing, through cash-flow and petition-related operations, influenced the urban planning review and approval process, causing the plot ratio of Jinghua City to be increased, thereby obtaining enormous profits. The court found that the amount of related illegal gains totaled more than 12.1 billion yuan, and ruled to forfeit assets from Dingyue Development, the company responsible for the development.

Shen Qingjing’s development path—from textile quota arbitrage, to capital operations in the stock market, to moving into real-economy operations in petrochemicals and real estate—shows a rare typical case of “financial capital turning into real business” in Taiwan’s economic development. However, the management model, characterized by highly intensive capital operations and interactions between politics and business, also exposes him to higher risks in terms of institutional and regulatory boundaries.

This article Jinghua City case: Shen Qingjing quickly raised 30 million yuan for bail; the rise-and-fall history of Wei-king’s “Four Great Kings of the Taiwan Stock Market” is exposed; first appeared in Lian News ABMedia.