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Exchange’s Disciplinary Action against Six Directors of Youyuan International Holdings Limited (delisted, previous Stock Code: 2268)

Regulatory
13 May 2021

香港联合交易所有限公司
(香港交易及结算所有限公司全资附属公司)
THE STOCK EXCHANGE OF HONG KONG LIMITED
(A wholly-owned subsidiary of Hong Kong Exchanges and Clearing Limited)

 

The Listing Committee of The Stock Exchange of Hong Kong Limited

CENSURES:

(1) Mr Ke Ji Xiong, executive director of Youyuan International Holdings Limited (delisted, previous Stock Code: 2268);  
(2) Mr Ke Wen Tuo, former executive director; 
(3) Mr Cao Xu, former executive director;
(4) Ms Lian Bi Yu; former executive director;
(5) Mr Zhang Guo Duan; former executive director; and
(6) Mr Zhang Dao Pei, former independent non-executive director,

AND STATES in the Exchange’s opinion, by reason of the above directors’ wilful and/or persistent failure to discharge their responsibilities under the Listing Rules, had the Company remained listed and they remained in office, their retention of office would have been prejudicial to the interests of investors.

All the directors listed above were under investigation by the Division for potential breaches of the Listing Rules. However, they failed to cooperate with that investigation, and accordingly breached their Undertakings. 

 

Key messages:

Directors must cooperate with the Division and comply with the Exchange’s requests in connection with an investigation of possible Listing Rule breaches.  This obligation continues even if the company is in provisional liquidation and/or the directors have resigned. Any failure by directors to cooperate may result in the imposition of severe sanctions. 
 
A copy of the Statement of Disciplinary Action is available on the HKEX website.

 

 

Ends

Updated 13 May 2021