Brief: Jiande International Says Update On Suspected Misappropriation Of Funds Of Unit Of Co

JIANDE INTERNATIONAL HOLDINGS

28/03/2023 14:02

March 28 (Reuters) - Jiande International  0865.HK :
    * UPDATE ON SUSPECTED MISAPPROPRIATION OF FUNDS OF A UNIT OF
COMPANY
    * MATERIAL DISCREPANCY OF RMB25.0 MILLION WAS IDENTIFIED AND
QUANTIFIED IN TWO BANK ACCOUNTS AS AT 31 AUG OF UNIT
    * HAS ASCERTAINED TOTAL NET LOSS AS RESULT OF
MISAPPROPRIATION TO
BE ABOUT RMB24.98 MILLION
    * BASED ON INDEPENDENT REVIEW, FORMER TREASURER
MISAPPROPRIATED
FUNDS OF GROUP OF AGGREGATE AMOUNT OF ABOUT RMB24.98 MILLION
    * MISAPPROPRIATION WAS ONLY DISCOVERED BY MANAGEMENT OF HUI
AN
CHINA GENERAL IN SEPTEMBER 2022
    * FINDINGS OF INDEPENDENT REVIEW ALSO REVEALED CO COULD
ENHANCE
INTERNAL CONTROL SYSTEMS IN VARIOUS AREAS
    * HAS TAKEN OR IS IN PROCESS OF TAKING REMEDIAL ACTIONS TO
ADDRESS
THESE CONCERNS
    * BOARD IS OF VIEW THAT MISAPPROPRIATION DOES NOT IMPOSE
MATERIAL
ADVERSE IMPACT ON GROUP'S DAY-TO-DAY OPERATIONS

Source text for Eikon:  ID:nHKS3dhYbn 
Further company coverage:  0865.HK 

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