On January 22, the Hong Kong Securities Regulatory Commission announced that it has decided that it willChina Ding YifengThe suspected market manipulation activities of the holding (00612) shares initiated legal proceedings against a number of persons (including one or more Chinese Dingyifeng personnel). At the same time, the Hong Kong Securities Regulatory Commission also decided to withdraw its instructions on March 8 last year relating to the suspension of China's Ding Yifeng stock trading. Trading of the company's shares will resume at 9:00 a.m. tomorrow (23rd).
The Hong Kong Securities Regulatory Commission issued restraining notices to nine brokerage firms on March 20 and June 25 last year to freeze certain clients' securities accounts. The accounts in question are believed to be related to suspected market manipulation activities of China Dingyifeng Co., Ltd. Such restraining notices will continue to take effect after the company's shares resume trading. These restraining notices cover 32.37% of China's Dingyifeng's issued share capital.
The Hong Kong Securities Regulatory Commission's “Policy Statement on Disclosure of Certain Information to the Public” allows the Hong Kong Securities Regulatory Commission to publish investigations or investigations (among other circumstances) to protect the public interest and maintain public confidence in the Hong Kong securities and futures markets. In accordance with the above policy, the Hong Kong Securities Regulatory Commission announced its decision to commence legal proceedings relating to suspected market manipulation activities. As the Hong Kong Securities Regulatory Commission confirmed that it will commence legal proceedings, it believes that the market now has sufficient information to allow it to withdraw its instructions to suspend stock trading. The Hong Kong Securities Regulatory Commission reminds shareholders and prospective investors of China Ding Yifeng that the price and trading volume of China Ding Yifeng shares may fluctuate greatly, so they should be extremely cautious when trading this stock.