Yeebo has Fully Withdrawn from the Suzhou QingYue Board, Ceased All Involvement in Financial and Operational Decisions
- Written by Media Outreach
Swift Action Taken to Maximize Risk Segregation
The Group clearly stated that it had previously disclosed in its 2025/2026 interim report that, the Group confirmed neither the Company nor its subsidiaries were involved in the investigation initiated by the CSRC in connection with the "Notice of Case Filing" issued to Suzhou QingYue regarding alleged false information included in its periodic financial reports. In response to the incident, and based on prudence and corporate governance considerations, the Board of Directors has resolved to initiate a process to reduce the Group's level of involvement in Suzhou QingYue.
Emphasizes No Involvement by the Group's Management or Governance, with a Complete Exit from Suzhou QingYue
Mr. Leung Tze Kuen, Executive Director of the Company, has resigned as a non‑independent director of Suzhou QingYue, with effect from 31 March 2026. Following the resignation, the Group has fully exited the Suzhou QingYue Board and has ceased all involvement in Suzhou QingYue's financial, operational, and management decision‑making. The Group further emphasizes that none of its directors or employees has ever been involved in Suzhou QingYue's daily operations, nor involved in the Incident whatsoever.
Minimal Investment Stake and Limited Financial Impact
From a financial perspective, as at 30 September 2025, the carrying value of the Group's investment in Suzhou QingYue amounted to approximately HK$294 million, representing approximately 5.2% and 6.0%, respectively of the total assets and net assets of the Group. Should the Group be required to recognize any impairment provision on its investment in Suzhou Qingyue in the future, it is not expected to have any material impact on the Group's cash flow.
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The issuer is solely responsible for the content of this announcement.
