The Hong Kong Securities and Futures Commission seeks a court order to disqualify three former directors of CHI LONGEVITY Group Limited
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The Hong Kong Securities and Futures Commission seeks to have the qualifications of three former directors of CHI LONGEVITY revoked by the court, due to their exaggeration of cash and cash equivalents in the financial reports for 2011 and 2012, which led to an overstatement of net assets. The former directors include former chairman Lam Sang Hung and two former executive directors Zhang Hongwang and Huang Wanneng. The Commission pointed out that the relevant annual reports and interim reports contained significant misstatements and failed to accurately reflect the company's condition
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