The Stock Exchange of Hong Kong Limited censures Tianjin Real Estate Group Co., Ltd. In October 2017, the Company issued a US$100 million bond listed on the Exchange. Two weeks before the bond’s maturity in September 2020, rumors surfaced that the Company had defaulted on other bonds, leading to concerns that an event of default may have been triggered. The Exchange asked for clarification, but the Company failed to provide any information or apply for a trading suspension, which could have prevented a false market. The Company attributed this to its authorized representatives being under investigation and unable to communicate with the Exchange. Despite knowing about the communication problem, the Company did not appoint any replacements or take steps to re-establish communication.