Beijing Media Corp. Ltd. Class H (HK:1000) has released an update.
Beijing Media Corporation Limited has announced that the Securities and Futures Commission initiated legal proceedings against Mr. Chan Yee Ping, Michael, a member of Beijing Media’s audit committee, for alleged fiduciary breaches at another company, SoftMedx. Beijing Media has assessed that the incident will not materially impact their business or operations. The company will continue to evaluate Mr. Chan’s role and make further announcements as necessary.
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