Summary by Moomoo AI
Yun Bai International Limited (Yun Bai International) announced that as of 30 January 2024, the Company has fully met the Hong Kong Stock Exchange's Replication Guidance Requirements and will resume share trading on 31 January 2024. Previously, the company's shares were suspended from 21 June 2022 to address the company's financial loss issues and conduct an internal investigation. An independent forensic investigation revealed the existence of operating violations in the company's debt lending and trading business involving four former key employees. The company has taken remedial measures, including the cessation of its debt business and the resignation or dismissal of the staff involved. In addition, the company has improved its corporate governance and internal control systems and re-complied with the relevant listing rules. After the company's new management restructuring, the trading business grew significantly and recorded a net profit of approximately HK$1850 million for the six months ended 30 September 2023. Company shareholders and potential investors should exercise caution.