18 Jul 2025
SECURITIES AND FUTURES COMMISSION v. XU LIAN GUO AND OTHERS
- Citation
- [2025] HKCFI 3116
- Court
- Court of First Instance
- Case number
- HCMP283/2019
The court found on the evidence that Zhang, who was responsible for financial management and internal controls, knew or ought to have known of the unauthorized transfer of RMB 150,000,000 and the unauthorized disposal of the 20% interest, failed to prevent or report those matters to the Board, and approved interim results that omitted those material matters; those findings satisfy s.214(1)(b),(c) and (d) of the SFO and warranted a disqualification order for six years and an order for costs against Zhang.