Summary by Moomoo AI
Ding Yifeng Holdings Group International Limited (“Ding Yifeng”) issued a Clarification Notice on 27 February 2024 in response to the legal proceedings brought by the Securities and Futures Commission (“Securities and Exchange Commission”) on 26 February against former Chairman and Non-Executive Director Mr. Sui Kwong Yi and 20 other persons. The Securities and Exchange Commission alleges that these individuals manipulated shares in Ding Yifeng between March 1 and September 14, 2018. The Board of Directors noted that Mr. Sui had resigned from all duties on 22 January 2020 and was not a current employee of the Company. THE BOARD IS CONSULTING LEGAL COUNSEL ON THE INDICTMENT OF THE CPS AND WILL ISSUE FURTHER ANNOUNCEMENTS IN DUE COURSE. The Board emphasizes that there is no need to announce inside information at this time.