China Innovation Probes Legal Concerns in Elife Holdings

China Innovation Investment Limited (HK:1217) has released an update.

China Innovation Investment Limited has raised concerns over the legality of minority shareholders of Elife Holdings Limited, who are residents of Mainland China, potentially breaching local laws when transferring funds to purchase Hong Kong stocks. The investigation reveals that these shareholders may lack the legal basis to exercise their shareholder rights, prompting China Innovation Investment Limited to request a further inquiry by Elife Holdings. This situation highlights the complexities surrounding cross-border investments within the financial markets of China and Hong Kong.

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