Coolpad Director Under Investigation; Company Says Operations Unaffected

Coolpad Group ( (HK:2369) ) has issued an announcement.

Coolpad Group has disclosed that independent non-executive director Guo Jinghui is under investigation by the Shenzhen Municipal Supervisory Commission in mainland China and has been placed under detention measures. The company said it has not been asked to assist the probe, stressed that its group operations remain normal, and noted that Guo does not take part in daily management.

Guo also serves on Coolpad’s audit and remuneration committees, and the board is assessing how to reallocate his roles and responsibilities if needed. The company does not expect a significant impact on its business activities at this stage but pledged to update shareholders and public investors on material developments, while advising investors to exercise caution when trading its shares.

The most recent analyst rating on (HK:2369) stock is a Sell with a HK$0.69 price target. To see the full list of analyst forecasts on Coolpad Group stock, see the HK:2369 Stock Forecast page.

More about Coolpad Group

Coolpad Group Limited is a Hong Kong-listed company incorporated in the Cayman Islands and engaged in the technology and telecommunications hardware sector. The group develops and sells mobile devices and related products, targeting smartphone and smart device users in mainland China and other markets, and operates through a listed structure on the Stock Exchange of Hong Kong.

YTD Price Performance: -35.42%

Average Trading Volume: 790,709

Technical Sentiment Signal: Strong Sell

Current Market Cap: HK$205.8M

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