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Fu Shou Yuan Shares Remain Suspended After Director Removal and Probe
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Fu Shou Yuan International Group (01488.HK) announced on September 25 that its shares, which have been suspended since March 20, 2026, will continue to be halted until further notice. The company issued a supplementary statement detailing the reasons for the removal of executive director Wang Jisheng. According to the board, the dismissal was prompted by an official investigation by authorities that may involve Wang, as well as suspicious transactions identified by an independent forensic investigation. Wang has disputed the facts and the board's assessment, filing a complaint, but the board concluded that his allegations lack substantive basis and that the removal serves the best interests of the company and its shareholders overall.
Source report
September 25 (Nancai Intelligence) — Fu Shou Yuan International Group (01488.HK) has issued a supplementary announcement detailing the key facts and considerations behind the removal of Executive Director Wang Jisheng.
According to the announcement, the reasons for the removal include:
- An official investigation launched by the competent authorities into certain incidents that may involve Wang Jisheng
- Suspicious transactions involving Wang Jisheng identified through an independent forensic investigation
Wang Jisheng has disputed the above facts and the Board's views, and has filed a complaint. After evaluation, the Board concluded that the allegations raised by Wang Jisheng lack substantive basis, and that the removal is in the best interests of the Company and its shareholders as a whole.
Additionally, trading in the Company's shares has been suspended since March 20, 2026, and will remain suspended until further notice.
Source: Southern Finance Network
Source
南方财经网Regional
Part of this Story
Fu Shou Yuan ousts president Wang Jisheng over 8.27M yuan in suspicious transactions