XinKong Says Censured Independent Director Remains Fit for Board Role

Huarong International Financial Holdings Limited ( (HK:0993) ) has issued an update.

XinKong International Capital Holdings Limited has disclosed that its independent non-executive director, Hung Ka Hai Clement, was publicly censured by the Hong Kong Stock Exchange in connection with internal control and diligence failures identified at Starjoy Wellness and Travel Company Limited and China Aoyuan Group Limited, where he also serves as an independent non-executive director and committee member. The Exchange’s Listing Committee found that the relevant directors, including Hung, breached their duty of skill, care and diligence, and ordered them to undertake training, but did not deem him unfit to serve as a director; XinKong’s board, citing the absence of dishonesty or integrity issues and Hung’s undertaking to complete the mandated training, concluded the incident is unrelated to the group’s affairs and will not adversely affect its operations or his continued role on the board.

The most recent analyst rating on (HK:0993) stock is a Hold with a HK$0.12 price target. To see the full list of analyst forecasts on Huarong International Financial Holdings Limited stock, see the HK:0993 Stock Forecast page.

More about Huarong International Financial Holdings Limited

XinKong International Capital Holdings Limited, incorporated in Bermuda and listed in Hong Kong, operates as an investment holding group, with its board comprised of executive, non-executive and independent non-executive directors overseeing its financial and capital markets-related activities.

Average Trading Volume: 537,685

Technical Sentiment Signal: Sell

Current Market Cap: HK$1.1B

For detailed information about 0993 stock, go to TipRanks’ Stock Analysis page.