HANGZHOU QAIMING MEDICAL DEVICE CO., LTD. ISSUED A NOTICE ON NOVEMBER 22, 2024 TO UPDATE THE REPLICATION PROGRESS AND INTERNAL CONTROL MEASURES. The Company will suspend trading from 23 November 2023 and will continue to suspend pending compliance with the exchange's replicating guidelines. The Company has made a number of internal control improvements, including the implementation of the Fundraising Management System and the Internal Audit Management System, to strengthen the division of functions in the financial, legal and internal audit departments.THE COMPANY HAS COMPLETED A FORENSIC INVESTIGATION OF THE UNAUTHORIZED TRANSACTION AND CONFIRMED THAT THE EMPLOYEES CONCERNED NO LONGER HOLD MANAGEMENT POSITIONS. The company also improved the approval system for overseas subsidiaries and appointed Mr. Zhu Bing as Chief Financial Officer. The...Show More

HANGZHOU QAIMING MEDICAL DEVICE CO., LTD. ISSUED A NOTICE ON NOVEMBER 22, 2024 TO UPDATE THE REPLICATION PROGRESS AND INTERNAL CONTROL MEASURES. The Company will suspend trading from 23 November 2023 and will continue to suspend pending compliance with the exchange's replicating guidelines. The Company has made a number of internal control improvements, including the implementation of the Fundraising Management System and the Internal Audit Management System, to strengthen the division of functions in the financial, legal and internal audit departments.THE COMPANY HAS COMPLETED A FORENSIC INVESTIGATION OF THE UNAUTHORIZED TRANSACTION AND CONFIRMED THAT THE EMPLOYEES CONCERNED NO LONGER HOLD MANAGEMENT POSITIONS. The company also improved the approval system for overseas subsidiaries and appointed Mr. Zhu Bing as Chief Financial Officer. The Board of Directors has proposed to convene an Interim General Meeting to consider appointing Mr. Guojun Wah as an independent non-executive director in accordance with the requirements of the Listing Rules.In addition, the Company has completed a review of the use of the proceeds and will make further announcements based on the results of the Supplemental Review. The Company stresses that unauthorised transactions have no material adverse effect on day-to-day business operations and will continue to respond to the exchange's comments and enquiries.