Bao Fan, chairman of the board of directors of China Huaxing Capital Holdings Co., Ltd., still cooperates with the relevant authorities to investigate, and the company maintains normal operation.
Huaxing Capital issued an announcement on Wednesday (August 9) on the Hong Kong Stock Exchange that Bao Fan, chairman and executive director of the company's board of directors, continues to cooperate with the investigation of relevant Chinese institutions and reiterate the company's current business and operationsMaintain normal.The executive committees including two executive directors Xie Yizhen and Wang Lixing will continue to be responsible for the company's daily management and operation.
China Financial Enterprise Huaxing Capital issued an announcement on the Hong Kong Stock Exchange on February 26 this year that the company has been trying to contact and confirming Bao Fan's situation.The board of directors has been informed that Bao Fan is currently cooperating with the investigation by relevant Chinese agencies and reiterating the company's current business and operations to remain normal.If any relevant Chinese authorities ask the company to cooperate in accordance with the law, the company will cooperate with such investigations.The executive committees including two executive directors Xie Yizhen and Wang Lixing will continue to be responsible for the company's daily management and operation.
Huaxing Capital issued a statement on February 16 that after Bao Fan lost contact, the news caused a stir in the industry, and speculation from all walks of life is related to whether it is related to Huaxing Capital executive jungle.Caixin reported that the Chairman of Huaxing Securities was taken away by the relevant departments last September last year.
The Wall Street Journal quoted people familiar with the matter in March that the reason for Bao Fan was related to the former president of Huaxing Capital and the chairman of Huaxing Capital Hong Kong Securities subsidiary jungle case.According to reports, Bao Fan was detained in the form of special detention of "apartment".The maximum period of "separation" is six months.
According to Bloomberg report, because the failure to contact Bao Fan, the chairman of the board of directors, the auditor cannot complete the audit work and issue an auditer report. Therefore, Huaxing Capital announced in April and postponed it.Performance.
Economic Observation Network quoted people familiar with the matter in May that Chinese supervision agencies have extended three months from May 7, 2023.
People familiar with the matter said that on February 7, 2023, Bao Fan was taken away by the Discipline Inspection Supervisor's personnel and was kept on the investigation. The specific case handling institutions include the CPC Central Discipline Inspection Commission International Cooperation Bureau, Beijing Discipline Inspection Commission and other departments.He was suspected of bribery in the unit.The jungle associated with Bao Fan's case was also notified to continue to extend the retention after six months of the retention period.
