China Bright Culture Reports Investigation Outcomes

China Bright Culture Group (HK:1859) has released an update.

China Bright Culture Group has disclosed the findings from an independent investigation conducted by Grant Thornton Advisory Services Limited, spurred by allegations of forged documents and receivables discrepancies involving its operating entity, Zhongguang Yusheng. This investigation was part of compliance with the Hong Kong Stock Exchange’s resumption guidance after trading in the company’s shares was suspended. The report addresses serious claims, including the misuse of a state-owned enterprise’s seals and the fabrication of documents for a bank loan application.

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