The Hong Kong Stock Exchange (a wholly -owned subsidiary of the Hong Kong Stock Exchange) takes disciplinary banks on China Ecological Tourism Group Co., Ltd. (China Ecological Tourism) and seven current directors on the grounds of dishonesty.
Comprehensive statement issued by the Hong Kong Securities Regulatory Commission and the Hong Kong Stock Exchange on Thursday (April 25), the Hong Kong Securities Regulatory Commission and the Hong Kong Stock Exchange jointly took action to make the Stock Exchange eventually affect China's ecological tourism and it in the endSeven current and former directors have adopted disciplinary actions.
The investigation mainly targeted at the misrepresentation of their criminals. Among them, it involved a grant to nine borrowers of about 363 million Hong Kong dollars (about 63 million yuan) and 91 million yuan (about 17.08 million S $ 17.08 million) Loans and 37.5%of the acquisition of a blockchain technology company for 35 million Hong Kong dollars.
The Stock Exchange initially found major impairment related to the above transactions in the annual performance of the year ended December 31, 2019.This incident was referred to the CSRC to follow up, and after investigation, several major discovery was found.
It is worth noting that the investigation of the Securities and Futures Commission found that some loan funds and investment subscription funds have been paid to the individuals and entities related to two former executive directors Chen Danna and Liu Ting.The results of the survey are concerned about whether Chen Dana and Liu Ting have not fulfilled their integrity as a director.
After considering all evidence, the listed committee ruled that the flow of funds to the flow of funds was seriously concerned about Chen Dana and Liu Ting fulfilled their integrity responsibilities.In particular, Liu Ting did not properly manage the conflict of interest, because the entity she held together seemed to receive several loan funds.
The disciplinary actions of the Stock Exchange include Chen Dana, Liu Ting and a current executive director Wu Jingwei, and a statement of damaging investors' rights.The three of them have participated in the approval of relevant loans, and Chen Dana has also handled relevant investment.The Stock Exchange believes that if the above -mentioned Chen Dana, Liu Ting and Wu Jingwei continue to stay, they will harm the rights and interests of investors.
In addition to making a statement of damaging investors' rights and interests to Chen Dana, Liu Ting and Wu Jingwei, the Stock Exchange also condemned the former executive director Li Zi, Chen Minghui, an independent non -executive director, Cui Shuming, an independent non -executive director, and the former independent non -executive director, as well as the formerHuang Shenglan, an independent non -executive director.
