HKG:1632

2 stories mentioning HKG:1632Updated just now

Every FINWIRES story that references HKG:1632, newest first.

Minshang Creative Technology Forms Committee to Probe Receivable Recoverability Concerns

Minshang Creative Technology (HKG:1632) resolved to create a special investigation committee to look into certain concerns raised by three independent executive directors causing them to resign in June.The concerns relate to the recoverability of a receivable from a fellow subsidiary and limited measures to mitigate the associated risk, according to a Thursday Hong Kong bourse filing.The committee, comprising independent non-executive Directors Wu Kwok Choi, Chris; Lau Yiu Kit; Lei Hui will appoint an investigator, present findings, and offer potential solutions if any.

HKG:1632

Asia83d ago

Hong Kong Bourse Flags Minshang Creative as Unsuitable for Listing; Shares Plunge 21%

The Hong Kong bourse said Minshang Creative Technology (HKG:1632) is no longer suitable for listing after the consolidation of the results of Beijing Minshang Zhihui E-commerce, according to a Thursday Hong Kong bourse filing.Shares of the restaurant chain operator, trading business, and IT solutions business company, were down 21% in Thursday afternoon trading.As a result, the bourse imposed additional conditions by treating the company as a new listing applicant and mandated that it comply with additional reverse takeover requirements.The stock exchange believes the company used the consolidation, announced in June 2025, for a backdoor listing of Beijing Minshang Zhihui E-commerce, in the process bypassing the reverse takeover rules and new listing requirements.The bourse believes the principal business changed, and the company became a listed shell at the time of consolidation, as Beijing Minshang Zhihui E-commerce's operations were larger than Minshang Creative Technology.Minshang Creative Technology can apply for a review of the decision.

HKG:1632

Track with the FINWIRES app suite

FolioX

Track HKG:1632 in your portfolio

WheelAI

Analyze HKG:1632 options with the wheel strategy

StockInsider

See market sentiment on HKG:1632