New Focus Auto Tech Holdings Ltd. Faces Disciplinary Action Over Disclosure Failures in Loan Transactions

Reuters
06-17
New Focus Auto Tech Holdings Ltd. Faces Disciplinary Action Over Disclosure Failures in Loan Transactions

New Focus Auto Tech Holdings Ltd. (Stock Code: 360) has been subjected to disciplinary action by The Stock Exchange of Hong Kong Limited due to accounting and disclosure issues. The company, along with five directors, faced criticism and censure for failing to disclose and seek shareholders' approval for several transactions in a timely and accurate manner. Notably, loans amounting to RMB205 million and RMB272 million, granted in December 2022 and January 2023 respectively, were not announced promptly. Additionally, the establishment of a new company in the PRC, led by executive director Mr. Tong Fei, was not reported to the board, constituting a discloseable and connected transaction. The directors involved have been directed to undergo additional training to address these compliance failures.

Disclaimer: This news brief was created by Public Technologies (PUBT) using generative artificial intelligence. While PUBT strives to provide accurate and timely information, this AI-generated content is for informational purposes only and should not be interpreted as financial, investment, or legal advice. New Focus Auto Tech Holdings Ltd. published the original content used to generate this news brief on June 17, 2025, and is solely responsible for the information contained therein.

免責聲明:投資有風險,本文並非投資建議,以上內容不應被視為任何金融產品的購買或出售要約、建議或邀請,作者或其他用戶的任何相關討論、評論或帖子也不應被視為此類內容。本文僅供一般參考,不考慮您的個人投資目標、財務狀況或需求。TTM對信息的準確性和完整性不承擔任何責任或保證,投資者應自行研究並在投資前尋求專業建議。

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