The Listing Committee Condemned Wei Qiao Textile And Its Directors For Violating The Listing Rules.
The Listing Committee of the stock exchange condemned Wei Qiao textile (02698) for violating the listing rules, and did not comply with disclosure and shareholder approval requirements for some related pactions and delayed financial reporting.
The Committee further condemned Zhang Hongxia, the current executive director and chairman of the company, Zhao Suwen, chief financial officer, and Zhang Jinglei, the Secretary of the company, which violated the responsibilities of the directors' statements and commitments.
The Committee issued a number of instructions to the company, including the company's need to appoint an independent compliance consultant who is satisfied with the listing department in the next two months. It will continue to provide advice on compliance with the Listing Rules in the next two years, as well as 24 hours of training for compliance matters and directors' duties.
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