Haichang Ocean Park Controlling Shareholder Under CSRC Investigation; Shares Soar 25%
MT Newswires Live
Yesterday
Haichang Ocean Park (HKG:2255) said its controlling shareholder, Yu Faxiang, is under investigation by the China Securities Regulatory Commission over suspected violations of information-disclosure rules.
The company said the investigation does not involve the group, as Yu holds no position in its operations and is not involved in daily management, according to a Sunday Hong Kong bourse filing. Haichang said its business operations remain normal and the investigation is not expected to have a material adverse impact on its operations.
Shares of the company soared 25% in Monday's trade.
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