Date Company/ Name Breach Conduct Disciplinary Actions
15 July 2019

• China Regenerative Medicine International Limited ("Company")

• Mr Dai Yumin, ("Mr Dai"), former executive director ("ED") of the Company

• Ms Wang Yurong ("Ms Wang"), former ED of the Company

• Mr Wong Sai Hung ("Mr Wong"), former ED of the Company

• Mr Shao Zhengkang ("Mr Shao"), former ED of the Company

• Prof Deng Shaoping ("Prof Deng"), former non-executive director ("NED") of the Company

• Mr Cao Fushun ("Mr Cao"), former NED of the Company

• Mr Yang Zhengguo ("Mr Yang"), former NED of the Company

• Mr Wang Jianjun ("Mr Wang"), former NED of the Company

• Mr Wang Hui ("Mr H Wang"), former NED of the Company

• Mr Chan Bing Woon ("Mr Chan"), independent non-executive director ("INED") of the Company

• Mr Lui Tin Nang ("Mr Lui"), former INED of the Company

• Mr Pang Chung Fai Benny ("Mr Pang"), former INED of the Company

(collectively, "Relevant Directors")

          




• GLR19.20

• GLR19.34

• GLR19.40
           
• GLR5.01(6)

• GLR5.20

• Director’s Undertaking





                       
• The Company breached GLRs 19.20, 19.34 and 19.40 by failing to comply with the disclosure, shareholder approval and prior consultation with the Exchange requirements in relation to its granting of loans.

• Relevant Directors breached (a) GLR5.01(6) by failing to exercise the required care, skill and diligence , and (b) their Undertakings by failing to comply with the GLR to the best of their ability and to use their best endeavours to procure the Company’s GLR compliance.

• Mr Dai and Mr Wong breached GLR5.20 by failing to comply with their duties as the Compliance Officer of the Company.

REGULATORY MESSAGE:

Money raised by issuers should be used for the intended purposes as disclosed to the market and its shareholders. Pending investment in described projects, placing proceeds should be safeguarded. Adequate safeguards should be in place to guard against the risk that the money raised is being used for other purposes. Directors, both collectively and individually, should exercise proper oversight in this regard.

SANCTIONS:

Public Censures of

• China Regenerative Medicine International Limited

• Mr Dai Yumin

• Ms Wang Yurong

• Mr Wong Sai Hung

• Mr Shao Zhengkang

• Prof Deng Shaoping

• Mr Cao Fushun

• Mr Yang Zhengguo

• Mr Wang Jianjun

• Mr Wang Hui

• Mr Chan Bing Woon

• Mr Lui Tin Nang

Public Criticism of

• Mr Pang Chung Fai Benny

DIRECTIONS:

• The Company to appoint an independent compliance adviser for two years

• Mr Wong, Mr Lui, Mr Pang and Mr Chan to attend training

• As a pre-requisite of any future appointment as a director of any company listed on the Exchange, Mr Dai, Ms Wang, Mr Shao, Prof Deng, Mr Cao, Mr Yang, Mr Wang, and Mr H Wang to attend training

as described in the news release.

NEWS RELEASE:

https://www.hkex.com.hk/News/News-Release/2019/190715news?sc_lang=en