Yihai International Holding Ltd. Announces Investigation of Independent Non-Executive Director for Alleged Violations
Reuters
Jul 04
Yihai International Holding Ltd. Announces Investigation of Independent Non-Executive Director for Alleged Violations
Yihai International Holding Ltd. has announced that one of its independent non-executive directors, Mr. Peng Long, is under investigation by the Central Commission for Discipline Inspection and the National Supervisory Commission of China for suspected serious violations of discipline and law. Mr. Peng, who is a former deputy director-general-level official of the Ministry of Education, does not hold any daily operational or management roles within the company. The company stated that this investigation is not expected to significantly impact its operations or business activities. The board is assessing the situation and may make necessary role adjustments. Investors and the public are advised to exercise caution when trading the company's shares.
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