Event

Former ST Hengxin Chairman Meng Nan Subject to Criminal Coercive Measures

1 reports · 1 sources

ST Hengxin announced that on the evening of October 16, the company learned that former chairman Meng Nan had been subjected to criminal coercive measures. Meng Nan had previously been removed from his position as a non-independent director by the shareholders' meeting on June 30 and no longer held any position in the company; however, because the industrial and commercial registration change was revoked, he remains the legal representative on the company's business license and also concurrently serves as executive director, manager and legal representative of several major subsidiaries. The company stated that this matter has a significant impact on major subsidiaries, and that as of now all production and operating activities are normal; if the matter concerned relates to his tenure, the company will fully cooperate with the public security and judicial authorities in their investigation and make every effort to recover the company's losses.