China CSC Financial General Manager Li Geping Resigns after Reports of Investigation from China Securities Regulatory Commission, Brokerage Firm China Securities Found Guilty of IPO Fraud in 2022
2nd June 2023 | Hong Kong
China CSC Financial (investment bank & brokerage) general manager Li Geping has resigned after reports of investigation from China Securities Regulatory Commission (CSRC), with the brokerage firm China Securities having found guilty of IPO fraud in 2022 (Amethystum Storage Technology presented false financial data during IPO, and post-IPO). China Securities will be delisted from Star Market (Shanghai Stock Exchange) at the end of June 2023. See below announcement by CSC Financial Co., Ltd, which is listed on Hong Kong Exchange with a market capitalization of $8 billion (1/6/23). CSC Financial Co. is founded in 2005, and has 5 key subsidiaries China Securities Futures, China Securities Capital, China Securities International, China Securities Fund, and China Securities Investment.
“ China CSC Financial General Manager Li Geping Resigns after Reports of Investigation from China Securities Regulatory Commission, Brokerage Firm China Securities Found Guilty of IPO Fraud in 2022 “
Founded on November 2, 2005, CSC Financial Co., Ltd. (CSC) is a nationwide comprehensive securities company approved by the China Securities Regulatory Commission (CSRC). The Company had a registered capital of RMB7.65 billion as of the end of 2020. Registered in Beijing, the Company has 292 business outlets nationwide in about 30 provinces, municipalities, and autonomous regions and five first-tier subsidiaries, namely China Securities Futures, China Securities Capital, China Securities International, China Securities Fund, and China Securities Investment. The Company has built a strong reputation for providing quality and professional financial services for governments, corporations, and institutional and retail investors. Since 2010, the Company has been rated AA in the A category by the China Securities Regulatory Commission (CSRC) for 11 consecutive years, the highest rating given to securities companies to date. The Company was listed and traded on the Stock Exchange of Hong Kong (stock code: 6066.HK) and Shanghai Stock Exchange (stock code: 601066.SH) in 2016 and 2018 respectively.
China CSC Financial General Manager Li Geping Resigns after Reports of Investigation from China Securities Regulatory Commission
1st June 2023 – The Board of Directors (the “Board”) of CSC Financial Co., Ltd. (the “Company”) hereby announces that executive director Mr. LI Geping (“Mr. LI”) has tendered to the Board his resignation as an executive director of the Company, a member of the Development Strategy Committee of the Board, a member of the Risk Management Committee of the Board, the General Manager, a member of the Executive Committee and the Chief Financial Officer of the Company due to person reasons.
In accordance with laws and regulations including the Company Law of the People’s Republic of China, the Code of Corporate Governance for Listed Companies, the Rules for Governance of Securities Companies, and relevant requirements under the Articles of Association of CSC Financial Co., Ltd., the resignation of Mr. LI will not result in the number of members of the Board falling below the statutory minimum number. Mr. LI’s resignation as an executive director of the Company and a member of special committees of the Board will take effect from June 1, 2023; his resignation as senior management including the General Manager, a member of the Executive Committee and the Chief Financial Officer of the Company will be carried out as soon as possible in accordance with the relevant laws and regulations and the Articles of Association of CSC Financial Co., Ltd. The Company is operating normally and the resignation of Mr. LI will not affect the normal operation of the Board and the Company.
Mr. LI has confirmed that he has no disagreement with the Board of the Company, and there are no other matters in relation to his resignation that need to be brought to the attention of the shareholders and creditors of the Company.
By order of the Board
CSC Financial Co., Ltd. Wang Changqing Chairman
Beijing, the PRC June 1, 2023
As at the date of this announcement, the executive Director of the Company are Mr. WANG Changqing; the non-executive Directors of the Company are Mr. WU Ruilin, Mr. LI Min, Mr. YAN Xiaolei, Ms. ZHU Jia, Mr. YANG Dong and Ms. WANG Hua; and the independent non-executive Directors of the Company are Mr. PO Wai Kwong, Mr. LAI Guanrong, Mr. ZHOU Chengyue, Mr. ZHANG Zheng and Mr. WU Xi.
Sign Up / Register
Caproasia Users
- Manage $20 million to $3 billion of assets
- Invest $3 million to $300 million
- Advise institutions, billionaires, UHNWs & HNWs
Caproasia Platforms | 11,000 Investors & Advisors
- Caproasia.com
- Caproasia Access
- Caproasia Events
- The Financial Centre | Find Services
- Membership
- Family Office Circle
- Professional Investor Circle
- Investor Relations Network
Monthly Roundtable & Networking
Family Office Programs
The 2025 Investment Day
- March - Hong Kong
- March - Singapore
- July - Hong Kong
- July - Singapore
- Sept- Hong Kong
- Sept - Singapore
- Oct- Hong Kong
- Nov - Singapore
- Visit: The Investment Day | Register: Click here
Caproasia Summits
- The Institutional Investor Summit
- The Investment / Alternatives Summit
- The Private Wealth Summit
- The Family Office Summit
- The CEO & Entrepreneur Summit
- The Capital Markets Summit
- The ESG / Sustainable Investment Summit
