SOHO China on Thursday (July 7) confirmed that the company's chief financial officer (CFO) Ni Kuyang was under investigation by the police for suspected insider trading of the company's stock.
According to Surging News, SOHO China said in the announcement that the company was under investigation because of the inside story of the company's stock.In addition, the company's directors and other executives do not know that they are suspected of insider transactions and have not been investigated.However, the information provided by the relevant departments is fully cooperated.
Soho China said that before the above survey was completed, Ni Kuyang could not perform the company's chief financial officer's duties, and the company had temporarily transferred her responsibilities to the company's chief financial officer.Directors believe that the investigation has no major adverse effects on the business operation of the group.
Earlier, some netizens broke the news on the Internet that Ni Kwai Yang was taken away by the police for suspected insider transactions, and many senior executives of Soho China were also investigated.Subsequently, the Global Times quoted people familiar with the matter on Wednesday (July 6) that the news that Ni Kuyang was checked was not unsure.
The Global Times also said that it was reported that Ni Kuyang used the known insider news to use stocks to cash with stocks in the SOHO China case.
According to SOHO China financial report, Ni Kwai Yang joined the company in July 2008. In October 2018, he served as the company's chief financial officer. He had more than 20 years of experience in accounting and finance.
As of 2:25 pm on Thursday, SOHO China reported at HK $ 1.42 (S $ 0.25) per share, a decline of 1.38%.
