On November 19th, the previously rising billion Holdings (0838.HK) opened more than 10% lower this morning. Yihe Holdings issued an announcement to clarify the allegations made by a recent article about a meeting held by four management staff of the group.
The announcement said that in the relevant conference call, the relevant management personnel discussed the overall performance of the group's business divisions, including the group's auto parts business division. The Board would like to clarify that anything discussed or written during the conference call is the subjective opinion of the participants and does not accurately reflect the actual operation of the Group, nor does it represent the views of the Board. The company will conduct an internal investigation into the source of the statements contained in the article and will seek legal advice to take legal action against any unauthorized use of group confidential information.
The announcement said that in the relevant conference call, the relevant management personnel discussed the overall performance of the group's business divisions, including the group's auto parts business division. The Board would like to clarify that anything discussed or written during the conference call is the subjective opinion of the participants and does not accurately reflect the actual operation of the Group, nor does it represent the views of the Board. The company will conduct an internal investigation into the source of the statements contained in the article and will seek legal advice to take legal action against any unauthorized use of group confidential information.