港交所公开谴责，中国奥园及关联公司15名高层违规

Core Viewpoint - The Hong Kong Stock Exchange has criticized and taken disciplinary action against Xingyue Kanglv (formerly known as Aoyuan Health) and China Aoyuan, along with 15 directors from both companies, for violating listing rules through improper financial assistance transactions that occurred around 2021 [3][4]. Group 1: Disciplinary Actions - Xingyue Kanglv and its subsidiary provided financial assistance to China Aoyuan and its subsidiaries, violating listing rules [3]. - Key figures involved include Guo Zining, who was identified as the main orchestrator of the fund transfers, and Chen Zhibin, who facilitated these transactions [4]. - A total of 33 billion RMB was transferred through 147 transactions from January 1, 2021, to March 31, 2022, primarily as short-term loans [3][5]. Group 2: Internal Investigations and Findings - Following the revelation of the fund transfers, both companies suspended trading on April 1, 2022, and established independent investigation committees [5]. - The investigations uncovered significant deficiencies in internal controls, including the management of conflicts of interest and approval processes [5]. - Despite the financial assistance, China Aoyuan did not recover from its debt issues, and Xingyue Kanglv faced a decline in revenue by approximately 13% and a core net profit drop of over 41% in the first half of 2025 [5].