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Wintao Communications CFO Resigns; Shares Fall 20%

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Wintao Communications' (SHE:301139) deputy general and chief financial officer, Cao Yalei, resigned from the roles, according to a Monday filing with the Shenzhen bourse.

Shares of the communication technology services provider fell 20% in Tuesday's trade.

The move followed Cao's receipt of an administrative penalty notice following a decision issued by China's securities regulator proposing a five-year market ban.

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Wintao Communications CFO Resigns; Shares Fall 20% | FINWIRES