The Shanghai Stock Exchange publicly censured¹ and disciplined Chinese actress Zhao Wei and her husband Huang Youlong.

 

上海证券交易所公开谴责惩戒赵薇以及她的丈夫黄有龙。

 

Due to stock listing rule violations² during Longwei Culture and Media's attempt to acquire Zhejiang Sunriver Culture Co, Sunriver's former chairman Kong Deyong and Longwei's principals Huang Youlong, Zhao Wei and Zhao Zheng have been considered unfit to serve as directors, supervisors³ or senior managers for five years by the SSE.

 

Previously⁴, Zhao Wei and Huang Youlong were banned from China's securities markets for five years for market violations, according to the China Securities Regulatory Commission.

 

The SSE said Longwei had insufficient⁵ self-funding, and financing from other companies was too uncertain to acquire Sunriver.

 

In addition, during the process of transferring stock rights, Longwei released false information, misleading statements, omitted important information, and avoided necessary disclosures.

 

The SSE denied reports that science and technology innovation board staff asked an investment institution to recommend 50 firms that may list on the new board, and reminded investors⁶ not to trust rumors⁷.

 

The SSE is presenting documents and design systems to the science and technology innovation board, and the registration⁸ system for listed companies, the bourse said.

 

The science and technology innovation board was first announced at the China International Import Expo in Shanghai, and aims to unleash⁹ potential from innovative¹⁰ enterprises.

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