Core Viewpoint - The Hong Kong Stock Exchange has condemned Star Health Travel Holdings Limited and several of its directors for failing to comply with listing rules, particularly regarding financial assistance provided to its parent company, China Aoyuan Group, amidst liquidity issues [1][2][3] Group 1: Disciplinary Actions - The Hong Kong Stock Exchange issued a statement condemning multiple directors from Star Health Travel and China Aoyuan for their roles in the violations, including Mr. Guo Zining, Mr. Chen Zhibin, and Mr. Zheng Wei [1] - Specific directors have been mandated to complete training hours, with Mr. Guo Zining and others required to complete 17 hours, while others, including Mr. Ruan Yongxi and Dr. Li Zijun, must complete 26 hours [2] Group 2: Financial Assistance Violations - Star Health Travel provided 3.3 billion RMB in financial assistance to China Aoyuan without adhering to the listing rules, which is a significant breach [2] - Between January 1, 2021, and March 31, 2022, Star Health Travel engaged in 147 transactions to provide this financial support, despite being aware of China Aoyuan's liquidity issues [2] Group 3: Director Responsibilities - The violations were attributed to the failure of the directors to fulfill their responsibilities, particularly in seeking board approval and ensuring compliance with listing rules [3] - Mr. Guo Zining and Mr. Chen Zhibin were noted as the main planners of the financial assistance, prioritizing China Aoyuan's interests over those of Star Health Travel [3] - Other directors, while not directly approving the transactions, failed to act in the best interests of Star Health Travel, indicating a lack of adequate internal controls [3]
香港联交所:谴责星悦康旅(03662) 对15名董事采取纪律行动