Changes in Hong Kong stocks | Haichang Ocean Park (02255) fell more than 6%, Chairman of the Board Yu Faxiang was subject to criminal coercive measures

The Zhitong Finance App learned that Haichang Ocean Park (02255) fell by more than 6%. As of press release, it was down 6.25% to HK$0.45, with a turnover of HK$4.6511 million.

According to the news, on the evening of December 22, Haichang Ocean Park announced that it had received a notice from Yu Faxiang's family, chairman of the board of directors, executive director and CEO of the company, that Yu Faxiang was subject to criminal coercive measures by the Shaoxing Municipal Public Security Bureau on suspicion of a crime. The case is under investigation. As of the date of the announcement, the company had not received any notice from the relevant authorities requesting the company to assist in the investigation, and the company's control had not changed. Except as disclosed in the announcement, the company's directors and senior management all performed their duties normally, and all production and operation of the company were normal, and related matters are not expected to have a significant impact on the Group's normal production and operation. Furthermore, Yu Honghua resigned as a non-executive director of the company and a member of the Remuneration Committee due to personal reasons. After resigning, he will no longer hold any position in the company.

According to information, this shock stems from the problem of overdue payments for wealth management products previously distributed by “Xiangyuan System” on one platform. On December 7, Haichang Ocean Park issued an announcement disclosing that the financial products that have recently been overpaid are financial products of the Xiangyuan Holdings Real Estate Cooperation Project, and that Yu Faxiang, the actual controller of Xiangyuan Holdings and the company, bears joint and several guarantees for these payment obligations. On October 17 this year, Haichang Ocean Park issued an announcement announcing that it has officially completed its specially authorized share subscription with Xiangyuan Holding Group. Xiangyuan invested HK$2,295 billion and officially became its controlling shareholder.