Summary by Moomoo AI
China Hengda Group (in liquidation) published a notice on the Shanghai Stock Exchange's website on 18 March 2024 through its subsidiary Hang Da Real Estate Group Limited indicating that Hang Dai Properties and its Executive Directors, Mr. Xu Jia-in and Mr. Qian Cheng, received the “Administrative Penalties and Market Prohibition Notice from the China Securities and Exchange Commission” Secretary”, alleging violations of securities and financial markets legislation. China Securities and Exchange Commission intends to impose public sanctions and fines against these individuals and other named persons. Details can be found at the specified URL. In addition, Hengda Group of China has changed its main business location in Hong Kong on 4 March 2024 and will continue to suspend its license from 29 January 2024 until further notice. Investors should exercise caution when trading.