The Stock Exchange of Hong Kong has censured New Century Healthcare Holding Co. Limited and six of its directors for breaching Listing Rules related to a 2016 framework agreement with a connected party, BJL. Executive directors Jason Zhou, Xin Hong, and Xu Han permitted significant delays in fee payments without informing the board or shareholders, leading to a substantial financial loss for the company. The audit committee members, Jiang Yanfu, Sun Hongbin, and Guo Qizhi, failed to take necessary actions to protect the company’s interests amid these issues. As a result, the company must conduct an internal control review, and the directors are required to undergo training.
Resources: https://www.hkex.com.hk/News/Regulatory-Announcements/2025/250611news?sc_lang=en
