Exchange’s Disciplinary Action against Seven Directors of China 21st Century Education Group Limited (Stock Code: 1598)

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 DIRECTOR UNSUITABILITY STATEMENT¹ and CENSURE against:

1. Mr Li Yunong, former executive director and chairman of China 21st Century Education Group Limited (Stock Code: 1598);
2. Ms Yang Li, former executive director;
3. Mr Ren Caiyin, executive director;
4. Mr Li Hua, executive director;
5. Ms Wu Huan, executive director;
6. Mr Guo Litian, independent non-executive director; and
7. Mr Nan Zhenxing, independent non-executive director.

AND FURTHER DIRECTS that the listing of the Company’s shares be cancelled under Rule 2A.10A(2)(b) if any of Mr Ren Caiyin, Mr Li Hua, Ms Wu Huan, Mr Guo Litian or Mr Nan Zhenxing continues to occupy a position as director or within senior management of the Company or any of its subsidiaries upon the expiry of 14 days from the date of publication of the Statement of Disciplinary Action.

As part of an investigation into, amongst other things, whether the directors had discharged the duties and obligations under the Listing Rules, the Division sent investigation and reminder letters to the directors. The directors did not respond to the Division’s enquiries.

Note:

1. The Director Unsuitability Statement is a statement that, in the Exchange’s opinion, each of Mr Li Yunong, Ms Yang Li, Mr Ren Caiyin, Mr Li Hua, Ms Wu Huan, Mr Guo Litian and Mr Nan Zhenxing is unsuitable to occupy a position as director or within senior management of the Company or any of its subsidiaries.

Ends