Zhang, Jingzhi (1971-06-15) 張景志
Court orders Sound Global (ex-0967) chairman Wen Yibo to purchase shares from investors
| Judgment
SFC, 6-Oct-2022
This is the first compensation order of its kind, and hopefully there will be more. 3 other defendants are in the mainland and the SFC has been unable to serve the Petition on them, so the SFC proceeded to trial against Mr Wen and the company alone. Mr Wen's scheme grossly inflated bank balances by RMB 2.72bn, equivalent to 89% of net assets in the 2013 annual report. The buy-out price will be determined at another hearing. Whether he has any assets in HK to honour the order is another matter.
SFC, 6-Oct-2022
This is the first compensation order of its kind, and hopefully there will be more. 3 other defendants are in the mainland and the SFC has been unable to serve the Petition on them, so the SFC proceeded to trial against Mr Wen and the company alone. Mr Wen's scheme grossly inflated bank balances by RMB 2.72bn, equivalent to 89% of net assets in the 2013 annual report. The buy-out price will be determined at another hearing. Whether he has any assets in HK to honour the order is another matter.
Listing Committee censures Zhang Jing Zhi…
| and Jiang An Ping, both ex-Sound Global (0967)
SEHK, 3-May-2018
Once again, HKEX is unable to reach former directors of a listed company to co-operate with an investigation. HKEX's regulatory function should be transferred to the SFC, which co-operates with the CSRC.
SEHK, 3-May-2018
Once again, HKEX is unable to reach former directors of a listed company to co-operate with an investigation. HKEX's regulatory function should be transferred to the SFC, which co-operates with the CSRC.
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