FINWIRES · TerminalLIVE
FINWIRES

Cloud Factory Technology, Directors Censured by Hong Kong Bourse Over Disclosure Discrepancies

-- Cloud Factory Technology (HKG:2512) and four directors have been subjected to a censure imposed by the Hong Kong Stock Exchange, according to a Tuesday filing by the bourse.

The action comes as a result of material discrepancies found between disclosures in profit and working capital forecast submitted to the bourse in June 2024, and a prospectus published earlier the same month.

The censured individuals comprise CEO Sun Tao, executive directors Jiang Yanqiu and Ji Lijun, and former executive Director Zhu Wentao.

The bourse has directed the data center services provider to appoint a compliance adviser for two years, and Sun, Jiang, Ji to attend 18 hours of training on regulatory and legal topics and Listing Rule compliance.

Zhu has been instructed to attend 18 hours of training as a pre-requisite of any future director appointment of a listed firm.

Related Articles

Australia

Jefferies Raises Quest Diagnostics Price Target to $225 From $220

Quest Diagnostics (DGX) has an average rating of overweight and mean price target of $219, according to analysts polled by FactSet.(covers equity, commodity and economic research from major banks and research firms in North America, Asia and Europe. Research providers may contact us here: https://www..com/contact-us)Price: $204.33, Change: $+8.02, Percent Change: +4.09%

$DGX
Australia

Truist Securities Cuts Tractor Supply Price Target to $44 From $55, Hold Rating Kept

Tractor Supply (TSCO) has an average rating of overweight and mean price target of $56.19, according to analysts polled by FactSet.(covers equity, commodity and economic research from major banks and research firms in North America, Asia and Europe. Research providers may contact us here: https://www..com/contact-us)Price: $39.92, Change: $-4.90, Percent Change: -10.92%

$TSCO
Sectors

Sector Update: Energy

Energy stocks were higher Tuesday afternoon, with the NYSE Energy Sector Index rising 1.1% and the State Street Energy Select Sector SPDR ETF (XLE) adding 1.2%.The Philadelphia Oil Service Sector Index was climbing 1.8%, while the Dow Jones US Utilities Index fell 1.3%.Front-month West Texas Intermediate crude oil was rising 4.8% to $93.94 a barrel, and the global benchmark Brent crude contract was advancing 4.4% to $99.68 a barrel. Henry Hub natural gas futures increased 0.3% to $2.70 per 1 million BTU.In corporate news, Halliburton (HAL) shares gained 4.1% after it reported lower Q1 adjusted net income and revenue that still topped analysts' expectations.

$HAL