Exchange’s Disciplinary Action against C-Link Squared Limited (Stock Code: 1463) and Two Former Directors

enforcement

C-Link Squared Limited and its former executive directors, Mr Ling Sheng Hwang and Mr Ling Sheng Chung, have been censured for failing to disclose substantial payments made to service providers shortly after listing. These undisclosed payments amounted to HK$38.5 million, causing a material shortfall in the company’s net profit. As part of the resolution, the directors have agreed to resign from all positions within the company and its subsidiaries and are prohibited from holding similar positions in any listed issuer in Hong Kong. Proper disclosure is crucial to protect shareholders and the investing public, as emphasized in a joint statement by the Exchange and the SFC.

Resource: https://www.hkex.com.hk/News/Regulatory-Announcements/2023/231005news?sc_lang=en

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