Exchange’s Disciplinary Action against Cloud Factory Technology Holdings Limited (Stock Code: 2512) and Four Directors

On 14 April 2026,The Stock Exchange of Hong Kong Limited publicly censured Cloud Factory Technology Holdings Limited (Stock Code: 2512) and criticized 4 of its former executive directors and CEO.An investigation has identified material discrepancies between a company’s prospectus and its actual financial position at the time of listing. Specifically, the company failed to disclose bank loans and capital expenditures, each exceeding RMB 160 million, which were planned or executed during the IPO process. These omissions represent material transactions that fundamentally altered the company’s risk and financial profile.Despite their awareness of these obligations, the directors breached their fiduciary duties by failing to notify the sponsor or reflect these liabilities in the forecast memorandum. Such conduct undermines market integrity, as investors and regulators rely on these disclosures to assess business sustainability and profitability.Both the company and associated directors accepted the sanctions imposed by the Exchange.

Source: https://www.hkex.com.hk/News/Regulatory-Announcements/2026/260414news?sc_lang=en