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Jinchuan Group Says Internal Control Weaknesses Remedied

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Jinchuan Group International Resources (HKG:2362) said a follow-up review found that all recommendations from an independent internal control review had been adopted or implemented, according to a Wednesday Hong Kong bourse filing.

The review was conducted as part of the Hong Kong Stock Exchange's resumption guidance following the suspension of trading in the company's shares.

The independent consultant had identified weaknesses in vendor onboarding, document retention, conflicts of interest, and cash management, including instances in which payments were made to bank accounts that did not belong to registered vendors.

Jinchuan said its audit committee and board believe the group now has adequate internal controls and procedures to comply with listing rules.

Trading in the company's shares remains suspended.

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