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An announcement from Central China Management Company Limited ( (HK:9982) ) is now available.
Central China Management Company Limited announced that it has completed an internal control review and fulfilled all resumption guidance conditions imposed by the Hong Kong Stock Exchange, paving the way for the resumption of trading in its shares following a prolonged suspension. Trading had been halted since April 2024 after the company failed to publish its 2023 annual results on time amid unresolved audit issues that culminated in the resignation of former auditor KPMG, which had sought extensive documentation and verification regarding RMB750 million of loans to various real estate companies. The company’s progress in resolving these audit and governance concerns, changing auditors, and addressing compliance gaps in board composition and company secretarial functions is expected to restore regulatory compliance and improve investor confidence, although it also underscores the operational and oversight challenges the group has faced in a stressed Chinese real estate environment.
More about Central China Management Company Limited
Central China Management Company Limited is a Hong Kong-listed company incorporated in the Cayman Islands, operating in the real estate services and project management sector through its group of subsidiaries. The company focuses on providing management and related services to property development projects in mainland China, positioning itself as a specialist in overseeing real estate operations and developments within the region.
Technical Sentiment Signal: Sell
Current Market Cap: HK$425.2M
See more insights into 9982 stock on TipRanks’ Stock Analysis page.