Exchange’s Disciplinary Action against Two Directors of Inno-Tech Holdings Limited (Delisted, Previous Stock Code: 8202)
Regulatory
12 Jan 2023
香港聯合交易所有限公司
(香港交易及結算所有限公司全資附屬公司)
THE STOCK EXCHANGE OF HONG KONG LIMITED
(A wholly-owned subsidiary of Hong Kong Exchanges and Clearing Limited)
The Stock Exchange of Hong Kong Limited
IMPOSES A PREJUDICE TO INVESTORS’ INTERESTS STATEMENT against:
- Mr Zhou Wenyu, executive director; and
- Mr Zhang Ronggang, executive director of Inno-Tech Holdings Limited (delisted, previous stock code: 8202).
The statement made in respect of Mr Zhou and Mr Zhang above is made in addition to a public censure against each of them. The Prejudice to Investors’ Interests Statement is a statement that, in the Exchange’s opinion, had Mr Zhou and Mr Zhang remained on the board of directors of the Company, their retention of office would have been prejudicial to the interests of investors.
The Company and its directors were under investigation by the Listing Division. Mr Zhou and Mr Zhang were directors of the Company at the time of the Division’s enquiries. Despite being aware of an investigation by the Exchange, and reminded and warned that a failure to cooperate would result in disciplinary action, Mr Zhou and Mr Zhang failed to procure the Company to respond to the Division’s investigation letter.
Key messages:
Failure to answer or provide timely and substantive responses to the Exchange’s investigation enquiries amounts to non-cooperation. Directors have a responsibility to ensure that the listed issuer provides the required responses to the Exchange.
Detailed information on cooperation can be found in the Exchange’s Guidance Note on Cooperation.
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