On December 6, Gelonghui Holdings (00612.HK) made a clarification announcement. The board of directors noticed that several media recently mentioned the notice issued by an agency with the Chinese name “Shenzhen Local Financial Supervisory Administration” (“Shenzhen Financial Supervisory Administration”) (“Shenzhen Financial Supervisory Administration”). On February 19, 2023, the Shenzhen Financial Supervisory Authority issued a notice entitled “Risk Alerts on Businesses Related to Ding Yifeng” (“February 2023 Notice”) in Chinese. The February 2023 circular mentioned (among others) (a) various types of financial products beginning with “Ding Yifeng” in Chinese; (b) “Ding Yifeng” has many related entities, and the business entities in Shenzhen do not hold the necessary licenses; and (c) negative news reports about “Ding Yifeng” on the Internet.
On November 21, 2023, the Shenzhen Financial Supervisory Administration issued another notice in Chinese entitled “Risk Alerts Concerning Dingyifeng's “Original Equity” and “Options” (“November 2023 Notice”, together with the February 2023 Notice, collectively referred to as “the Notice”) in Chinese. According to the November 2023 notice (among others), the Shenzhen Financial Supervisory Authority has received feedback from the public that several “Ding Yifeng” related entities have made investment proposals in different ways based on a number of investment concepts to attract investors to subscribe to the original shares and options of “Ding Yifeng” related entities, while the relevant conduct may involve the risk of illegal fund-raising, and there are situations where payment is difficult. The Board of Directors notes that the full legal name of “Ding Yifeng” or its associated entities is not specified in these notices.
The Board of Directors hereby states that, to the best of its knowledge, knowledge and assurance, (a) the “Ding Yifeng” or its associated entities referred to in such notices do not refer to the Company or any of its subsidiaries; (b) the Shenzhen Financial Supervisory Authority did not contact the Company or any of its subsidiaries (including subsidiaries established in China); and (c) the illegal or improper conduct referred to in such notices (including but not limited to allegations relating to attracting investors to subscribe to the original shares and options of “Ding Yifeng” related entities) did not involve the Company or any of its subsidiaries.