Gelonghui November 21st, strong petro (00852.HK) announced that the company received notification from Mr. Yao Guoliang that he has initiated legal proceedings against Forever Winner International Ltd. (FWI), Mr. Wang Jiansheng, Sino Century Holdings Limited, and Ms. Xia Yongling in Hong Kong and the British Virgin Islands (including them). According to Mr. Yao, the reason for this legal action is that without his approval, he was inappropriately removed from his position as director at FWI, and Ms. Xia was appointed as a director at FWI to replace him.
According to the equity disclosure submitted by FWI on the Hong Kong Stock Exchange website, FWI, holding 49.06% of the company's issued shares, is jointly controlled by Mr. Yao (through his corporate tool, Golden Glory Holdings Limited) and Mr. Wang (through his corporate tool, SinoCentury), each holding 50%.
According to Mr. Yao, the aforementioned legal action initiated by Mr. Yao aims to obtain injunction relief against Mr. Wang, Sino Century, and FWI, to maintain the status quo of FWI, and restrict Ms. Xia from exercising any powers as a director of FWI.
