The Stock Exchange of Hong Kong has imposed disciplinary actions against New Focus Auto Tech Holdings Limited and seven of its directors due to breaches of Listing Rules. The exchange criticized the company and issued a Director Unsuitability Statement against former independent directors Zhang Xiaoya and Shi Jing for failing to cooperate in the investigation of unauthorized transactions totaling approximately RMB 653 million. Current executive director Tong Fei and other former directors were censured for allowing significant transactions without proper board approval and for maintaining inadequate internal controls. The directors accepted the sanctions and are required to undergo training.
Resources: https://www.hkex.com.hk/News/Regulatory-Announcements/2025/250617news?sc_lang=en