Latest Search
Quote
| Back Zoom + Zoom - | ||||
|
EVERGRANDE Ex-CEO Xia Haijun Fined RMB15M and Banned for Life from Securities Mkt
Recommend 5 Positive 3 Negative 5 |
||||
|
||||
|
The China Securities Regulatory Commission (CSRC) issued an administrative penalty decision, stating that Hengda Real Estate's 2019 and 2020 annual reports contained false information, and that Xia Haijun, then vice chairman and CEO of EVERGRANDE (03333.HK) who was actually in charge of the company's daily affairs, organized and arranged the preparation of false financial reports with particularly egregious methods, which constituted especially serious circumstances and made him the directly responsible executive. Regarding the false records in the annual reports, the CSRC decided to issue a warning and a fine of RMB5 million to Xia. For fraudulent issuance of corporate bonds by Hengda Real Estate, he was fined an additional RMB10 million. As Xia's organization and arrangement of false financial reports with particularly egregious methods constituted especially serious circumstances, the CSRC imposed a lifetime ban on him from participating in the securities market, including prohibiting him from serving as a director, supervisor, or senior executive of listed and non-listed companies. AAStocks Financial News |
||||
Copied to Clipboard
 |
||||
