English | 简体中文 | 繁體中文 | 한국어 | 日本語
Monday, 17 July 2017, 18:16 HKT/SGT
Share:
China Household Actively Responses to SFC's Request
Strives to Improve Corporate Governance Standards And Seek Resumption of Trading

HONG KONG, July 17, 2017 - (ACN Newswire) - China Household Holdings Limited ("China Household" or the "Group"; stock code: 692) is actively responding to the request of The Securities and Futures Commission of Hong Kong (the "SFC") to suspend all dealings in the shares of the Group. China Household has immediately established an independent board committee ("IBC") to follow up on the issue and it has approved the engagement of Zhonghui Anda Risk Services Limited, an independent professional party, to conduct an investigation of the matter. The IBC will closely follow up the progress of the investigation report and proactively communicate with SFC and The Stock Exchange of Hong Kong, with a view to addressing and resolving SFC's concern and striving for the resumption of trading in the shares of the Group as soon as practicable.

On 14 July 2017, China Household announced the appointments of Mr. Luo Jianhua, Mr. Wong Hung Chiu and Mr. Zheng Jianhua as Board members. The new members have extensive experiences in business development, corporate governance and the judiciary area. After joining the Board, they will endeavor to improve corporate governance and internal control of the Group, including improving the Group's overall management system, financial reporting system and corporate governance and internal control system to ensure that all disclosure, trading and business operations are in line with the relevant regulations and the Listing Rules.

Mr. Luo Jianhua, Executive Director & Chairman of China Household said, "The Board understands the decisions of SFC in regards to the issue, to which we have responded in a timely manner, and an investigation led by the IBC, which is composed by all of our independent non-executive directors, is underway. We hope the historical issues will be clarified through the auditing process by a professional institution. Our new directors will work with the management to take this opportunity to reinforce our corporate governance standards, and to further improve on the Group's management systems, so as to lead our operations move forward to scientification, standardization and legalization. We will strive to relief any concern of the SFC, our shareholders and investors might have over the Group as soon as possible."

About China Household Holdings Limited (Stock Code: 692)
Listed on the Main Board of the Stock Exchange of Hong Kong in 2000, China Household Holdings Limited is a leading household solutions supplier in China. With the innovative OAO2C (Online And Offline To Customer) business model, the Group is principally engaged in the sale of wooden products and furniture, as well as exploration, development and exploitation of iron and titanium, and securities investment in China. In 2016, the Group is pleased to announce that it has entered into a cooperation agreement with Zhongheng Investment Limited (China Shenzhou Aerospace Park) in relation to the acquisition of the sale shares of Shenzhou Aerospace Town Holdings Company Limited, so as to develop the China Shenzhou Aerospace-Themed Park Tourism Township Project and to construct the first aerospace themed-park in China, further expanded its business scope to the cultural industry. For more information, please visit www.chh.hk.

Media enquiries:

One PR Limited
Tel: +852 3107 8088 /+852 3589 5142
Email: [email protected]


Topic: Press release summary
Sectors: Daily Finance, Daily News
http://www.acnnewswire.com
From the Asia Corporate News Network


Copyright © 2017 ACN Newswire. All rights reserved. A division of Asia Corporate News Network.

 

Latest Press Releases
Gemalto preliminary first semester results and 2017 outlook revision  
July 22, 2017 02:30 HKT/SGT
C.banner to Purchase 45.78% of the Issued Share Capital of EtonKids Educational Group  
July 21, 2017 21:13 HKT/SGT
China Gas an Honored Company in the "2017 All-Asia Executive Team" by Institutional Investor  
July 21, 2017 19:15 HKT/SGT
NEC to Revise Business Segments   
July 21, 2017 18:36 HKT/SGT
Inaugural Hong Kong Sports and Leisure Expo Opens  
July 21, 2017 17:30 HKT/SGT
Gemalto's remote subscription management solution helps Lenovo customers be always connected  
July 21, 2017 13:00 HKT/SGT
Gemalto offers El Corte Ingles store card holders an easy route to Samsung Pay  
July 21, 2017 13:00 HKT/SGT
Toyota to Showcase at Automobile Council 2017  
July 21, 2017 12:53 HKT/SGT
Toyota Motor Thailand Reaffirms Commitment to Development of Thai Automotive Industry  
July 20, 2017 18:30 HKT/SGT
Hong Kong Book Fair Examines Publishing Challenges  
July 20, 2017 18:00 HKT/SGT
More Press release >>
Copyright © 2017 ACN Newswire - Asia Corporate News Network
Home | About us | Services | Partners | Events | Login | Contact us | Privacy Policy | Terms of Use | RSS
US: +1 800 291 0906 | Beijing: +86 10 8405 3688 | Hong Kong: +852 2217 2912 | Singapore: +65 6304 8926 | Tokyo: +81 3 5791 1818

Connect With us: