Venus Medtech (Hangzhou), Inc. Class H (HK:2500) has released an update.
Venus Medtech (Hangzhou), Inc. has completed its analysis of consulting agreements with independent non-executive directors and maintains that these agreements, while raising questions about independence, have not compromised the directors’ ability to act independently per regulatory standards. The agreements in question fell below the threshold for significant connected transactions and the fees paid were not material to the group. The Board asserts no bad faith or lack of independence in the actions of the directors involved.
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