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Raffles Interior Ltd. ( (HK:1376) ) has shared an announcement.
Raffles Interior Limited has disclosed that it received an anonymous complaint alleging suspected market manipulation and unauthorised actions by its director and controlling shareholder, Zheng Nenghuan. The complaint claims Zheng pledged his entire 51% stake in the company to Get Nice Securities for a margin account, was served a margin call notice on 3 November 2025, and, without board authorisation, executed a HK$300 million land acquisition from his spouse and requested a trading halt in the company’s shares from 4 November 2025, actions that may breach securities laws and his director’s duties. The board believes the disputed contract is the same sale and purchase agreement previously identified as a connected transaction and very substantial acquisition, and has expanded the mandate of an already-established independent board committee to investigate these new allegations, noting that Zheng has so far failed to actively cooperate or provide key information. The committee, supported by external legal advisers, will continue its investigation and report findings to the board, while the company has warned shareholders and potential investors to exercise caution in trading its shares as it prepares to issue further updates on any material developments.
The most recent analyst rating on (HK:1376) stock is a Hold with a HK$0.12 price target. To see the full list of analyst forecasts on Raffles Interior Ltd. stock, see the HK:1376 Stock Forecast page.
More about Raffles Interior Ltd.
Raffles Interior Limited is a Hong Kong-listed company incorporated in the Cayman Islands, operating in the interior solutions and related construction services sector, with its shares traded on the Main Board of the Stock Exchange of Hong Kong.
Average Trading Volume: 3,604,000
Technical Sentiment Signal: Sell
Current Market Cap: HK$111M
For detailed information about 1376 stock, go to TipRanks’ Stock Analysis page.