Capital Estate Backs Independent Director After HKEX Censure of Related Companies

Capital Estate Limited ( (HK:0193) ) has issued an update.

Capital Estate Limited has clarified the implications of a disciplinary action taken by the Hong Kong Stock Exchange against Starjoy Wellness and Travel Company Limited and certain directors of China Aoyuan Group, including Clement Hung Ka Hai, who serves as an independent non-executive director of Capital Estate. The Stock Exchange found that the relevant directors breached their duty of reasonable skill, care and diligence by failing to ensure adequate internal controls and procedures and ordered Mr. Hung and others to undergo extensive training on regulatory, legal and Listing Rules compliance. After reviewing the Stock Exchange’s statement and Mr. Hung’s explanation, Capital Estate’s board, excluding Mr. Hung, concluded that the incident does not involve dishonesty or integrity issues, does not relate to the affairs or operations of Capital Estate, and does not render Mr. Hung unsuitable to continue serving as an independent non-executive director, signalling that the company does not expect any impact on its business operations or governance stability.

The most recent analyst rating on (HK:0193) stock is a Hold with a HK$0.23 price target. To see the full list of analyst forecasts on Capital Estate Limited stock, see the HK:0193 Stock Forecast page.

More about Capital Estate Limited

Capital Estate Limited is a Hong Kong-incorporated company listed on the Main Board of the Stock Exchange of Hong Kong. The group is overseen by a board comprising executive, non-executive and independent non-executive directors and operates under Hong Kong’s listing and corporate governance framework.

Average Trading Volume: 482,842

Technical Sentiment Signal: Sell

Current Market Cap: HK$52.24M

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