casinoroulettewheel| Sunac Real Estate Wang Mengde: Disciplinary action by Shanghai Stock Exchange and Shenzhen Stock Exchange for delay in interim report

Newsletter summary

Wang Mengde, chairman of the board of directors of financial services, was subject to disciplinary action by the Shanghai and Shenzhen stock exchanges for delays in the disclosure of the company's 2021 and 2022 interim results.CasinoroulettewheelThe board of financial services believes that the violation is caused by objective reasons, and Wang Mengde's position is maintained.

Text of news flash

[Wang Mengde, chairman of the board of directors of Sunac Services Holdings Limited, was disciplined by the Shanghai Stock Exchange and Shenzhen Stock Exchange] Fuchuang Services Holdings Limited (hereinafter referred to as "Financial Services") announced on April 30 that Wang Mengde, chairman of its board of directors and non-executive director, has been accepted by the Shanghai Stock Exchange (hereinafter referred to as the Shanghai Stock Exchange) and the Shenzhen Stock Exchange (hereinafter referred to as the Shenzhen Stock Exchange).CasinoroulettewheelDisciplinary action. According to the announcement, Wang Mengde received notice from the Shanghai Stock Exchange and the Shenzhen Stock Exchange that since Sunac Real Estate Group Co., Ltd. failed to comply with the relevant bond listing rules and regulations of the Shanghai and Shenzhen stock exchanges, its interim report for 2022 was disclosed before August 31, 2022, resulting in disciplinary action against Sunac Real Estate and Wang Mengde. The Shanghai Stock Exchange publicly condemned Rongchuang Real Estate and Wang Mengde, reported the situation to the China Securities Regulatory Commission and the Tianjin Local Financial Regulatory Administration, and recorded the violation in the integrity file. Shenzhen Stock Exchange criticized Rongchuang Real Estate and Wang Mengde, and recorded this behavior in the integrity file as well. After reviewing the relevant letters of disciplinary action, the Board of Directors of Financial Services (excluding Wang Mengde) made it clear that the violations were due to delays in the disclosure of Fuchuang's annual results in 2021 and interim results in 2022, which in turn led to a corresponding delay in the disclosure of the 2022 interim report of Sunac Real Estate. In spite of this, the board of directors (excluding Wang Mengde) still believes that the violation is caused by objective reasons, and Wang Mengde himself still has the qualities of honesty and diligence. therefore, it is considered that he is still suitable to continue to serve as chairman and non-executive director of the company.