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Lianzhong (06899) has filed a lawsuit against Mr. Ng Kwok-leung in the Hong Kong High Court in accordance with the agreement relating to the loan

Zhitongcaijing·12/29/2025 13:17:10
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Zhitong Finance App News, Lianzhong (06899) issued an announcement regarding the HK$5 million loan (loan) loaned to the Company in December 2018 by Mr. Wu Guoliang, a former executive director and former CEO of the Company. Recently, the Company has filed a lawsuit against Mr. Wu Kwok-leung in the Hong Kong High Court in accordance with the agreement in the loan related contract, requesting Mr. Wu Kwok-leung to repay the Company's loan and interest, as well as related expenses incurred by the Company to recover.

Furthermore, significant progress has been made in the investigation carried out by the Company regarding Mr. Ng Kwok-leung's conduct during his tenure at the Company. Through investigation, the company discovered that during his tenure, Mr. Wu Guoliang not only organized the company's former employees to commit illegal and criminal acts, but also misappropriated and embezzled the company's assets under the guise of investment, etc. According to this, in response to Mr. Ng Kwok-leung's violation of his credit obligations as a former director of the Company, the Company will file a further lawsuit with the Hong Kong High Court and demand compensation from Mr. Ng Kwok-leung, and also file a report with the relevant police.

The Company will continue to make every effort to pursue relevant historical loans, accounts receivable, and acts of embezzlement and misappropriation of the Company's funds through legal channels (including but not limited to investigations, lawsuits, arbitration, alarms, etc.), and to pursue civil and/or criminal liability (if applicable) for individuals and acts that damage the Company's interests. The Company will publish a separate announcement in due course in accordance with the Hong Kong Stock Exchange Limited securities listing rules and incident developments to inform the Company's shareholders and potential investors of the relevant developments.