Zhitong Finance APP learned that $CR HOLDINGS (01911.HK)$ The stock has been suspended for nearly a year and a half, and resumed trading this morning with a significant gap down. As of the time of writing, it has fallen 55.3% to HKD 3.25 with a trading volume of HKD 11.23 million.

On September 6th, CR Holdings announced that the wife of the founder and chairman, Xu Yanqing, has been appointed as a non-executive director, and the four senior executives have voiced their support. It is reported that on February 16, 2023, the company announced that the board of directors was informed that they could not reach Mr. Bao Fan temporarily. In the same month, CR Holdings issued another announcement stating that Bao Fan is currently cooperating with relevant authorities in China for an investigation.

It is worth noting that in the announcement made by CR Holdings, the four executive directors, including Chairman Xie Yijing, Vice Chairman Lin Jiachang, and the two co-CEOs Wang Lixing and Du Yongbo, have all pledged not to sell any company shares or equity from September 8, 2024 to March 7, 2025. Each executive director can terminate their lock-up commitment by providing written notice to the company 5 calendar days in advance.