On 25 June 2026, SEHK took disciplinary action against Lisi Group (Holdings) Limited (stock code: 526), six former directors and the ex-company secretary. The exchange censured the firm and former company secretary Christina Pang Yuen Shan, issued a statement of prejudice to investors’ interests alongside censures to six ex-directors, and ordered Pang to complete 24 hours of training. From April 2021 to June 2024, the group’s subsidiary made 333 interest-free, unsecured, undated fund transfers to an entity owned by controlling shareholder and ex-executive director Li Lixin; these amounted to numerous discloseable and major connected transactions yet the company skipped required agreements, announcements, circulars and shareholder approvals. The six former directors breached director duties, neglected internal control oversight and ignored auditors’ repeated warnings over three fiscal years, while Pang failed to advise the board on Listing Rule compliance and corporate governance. Separately, Li Lixin and Jin Yaxue arranged RMB244 million full prepayments under unreported procurement deals in March 2024, which also breached disclosure rules. The group had repeatedly violated Listing Rules Chapters 13,14,14A since 2014 even after prior exchange penalties, with all respondents admitting breaches and accepting sanctions. The exchange stresses directors must diligently follow up on risks flagged by professionals and implement robust internal controls, and company secretaries bear core responsibilities to support board compliance and sound corporate governance.
Sources: https://www.hkex.com.hk/News/Regulatory-Announcements/2026/260625news?sc_lang=en
Relative circulars: https://www.hkex.com.hk/-/media/HKEX-Market/Listing/Rules-and-Guidance/Disciplinary-and-Enforcement/Disciplinary-Sanctions/2026/260625_SoDA.pdf