Refusal to cooperate with regulatory investigation: Hong Kong Stock Exchange issues unsuitability statements and censures against six relevant directors of HUISEN SHARES (02127)

The Stock Exchange of Hong Kong Limited has issued a disciplinary action statement, making a director unsuitability statement and issuing a public censure against six relevant directors of HUISEN SHARES (02127), including executive director Zeng Minglan, chairman and executive director Wu Runlu, independent non-executive director Liu Jiong, independent non-executive director Feng Zhaowei, former chairman and executive director Zeng Ming, and former independent non-executive director Yan Liqiong. The Exchange has also issued a direction: upon the expiry of 14 days from the date of publication of this disciplinary action statement, if the above four current directors remain as directors or senior management of the company and its subsidiaries, the company's shares will be delisted pursuant to Rule 2A.10A(2)(b) of the Listing Rules. The announcement shows that the Exchange and the Securities and Futures Commission of Hong Kong conducted separate investigations into matters relating to HUISEN SHARES. The Exchange sent investigation letters and reminder letters to the relevant directors, but the relevant directors either did not respond at all or failed to reply within the prescribed time limit, refusing to cooperate with the Exchange's investigation. In the SFC's separate investigation, all four current directors likewise failed to respond; among them, Zeng Minglan even refused to comply with an interview notice issued under the Securities and Futures Ordinance. Even after the Exchange issued further reminder letters, the current directors still refused to cooperate with the SFC's relevant investigation work.