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.
