On 19th May 2026,The Stock Exchange of Hong Kong Limited officially censured Mr. Wong Wai Chiu, the former joint company secretary of Venus Medtech (Hangzhou) Inc., for failing to execute his corporate governance obligations. Consequently, the Exchange has directed Mr. Wong undergoes further mandatory training. This regulatory action stems from the company’s provision of unauthorized financial assistance totaling approximately RMB 2.477 billion to two executive directors, which resulted in severe breaches of Chapters 13, 14, and 14A of the Listing Rules. Although Mr. Wong received draft financial statements containing references to these irregular transactions, but he failed to personally review them. Instead, he completely delegated his secretarial functions to a corporate service provider without maintaining adequate oversight. Ultimately, the Exchange emphasized that professional duties remain strictly personal, meaning that delegation or reliance on external advisers does not absolve a company secretary of fiduciary and regulatory accountability.
Sources:https://www.hkex.com.hk/News/Regulatory-Announcements/2026/2605192news?sc_lang=en