The Stock Exchange of Hong Kong (HKEX) has taken disciplinary action against Ye Xing Group Holdings Limited (Stock Code: 1941) and two of its current directors, according to a notice published by the Exchange on Thursday.
Ye Xing Group is a Hong Kong-listed fitting-out and construction services company. Both directors named in the action remain on the board. Disciplinary proceedings against sitting directors carry more immediate governance weight than actions against individuals who have already departed.
The Exchange’s Listing Committee has the power to issue a range of sanctions under the Listing Rules, from private reprimands and public censures to statements that a director’s continued service is prejudicial to the interests of investors. Directors of listed issuers give formal undertakings to the Exchange to comply with the Listing Rules, and breaches of those undertakings can trigger formal proceedings.
Ye Xing Group’s shares last traded at 0.31 HKD. A consensus of 24 analysts surveyed over the past three months rated the stock a ‘Sell,’ according to crypto broker Bitget.
The full details of the disciplinary findings, including the specific Listing Rule breaches and the sanctions imposed, are set out in the Exchange’s published notice.
