Gelonghui September 7th 丨Stock Exchange vs. Kuangyi International (01683.HK)Disciplinary action by two former directors
sanctions
The Stock Exchange of Hong Kong Limited (Stock Exchange)
Issue a directorial unsuitability statement to the following persons:
(1) Shen Jie, former chairman and executive director of Kuang Yi International Holdings Limited (the Company);
and
Issuing a statement harming investors' rights to the following persons:
(2) Ren Huiyong, former chairman and executive director of the Company.
(The directors described in (1) to (2) above are collectively referred to as the relevant directors.)
In addition to the above statement to the relevant directors, the Stock Exchange also publicly condemned each of them.
A statement of unsuitability for directors means that the Stock Exchange believes that Shen Jie is unfit to hold the position of director or senior management of the company or any of its subsidiaries.
The statement harming investors' rights means that the Stock Exchange believes that if Ren Huiyong remains a director of the company's board of directors, it will harm investors' rights and interests.