Question mark over Angola project, says Hangxiao Steel
By Jin Jing (China Daily)
Updated: 2007-08-07 10:40
Updated: 2007-08-07 10:40
In May, the China Securities Regulatory Commission decided to fine Hangxiao 400,000 yuan, Chairman Shan Yinmu and President Zhou Jinfa 200,000 yuan each, and three other officials 100,000 each for failing to disclose the information on time.
Hangxiao released the risk warning notices on May 21, 24 and July 11 to the Shanghai Stock Exchange to announce the project processing and alert investors to the uncertainties of the project.
Twenty-two investors are suing Hangxiao, asking for compensation for the losses caused by the misleading information disclosure.
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