Fu Shou Yuan International Group Limited (01448) announced a series of inside information measures as it scrutinises a RMB3.00 million asset-procurement payment that lacks complete documentation. Key points are as follows:
1. Board meeting postponed • The board session originally set for 20 March 2026 to approve the FY2025 results has been tentatively moved to 31 March 2026. • Management cited the need for additional verification of the transaction and extra audit procedures requested by the external auditor.
2. Special Investigation Committee formed • All independent non-executive directors now constitute a Special Investigation Committee. • A qualified forensic accounting firm will be appointed to conduct an independent probe, reporting directly to the committee and coordinating with the auditor.
3. Potential delays in statutory disclosures • Because of the ongoing investigation and extended audit work, Fu Shou Yuan cautions that FY2025 results may not be published by the 31 March 2026 Listing Rules deadline. • Any delay in the results will also push back the dispatch of the FY2025 annual report, originally due by 30 April 2026. Further updates will be issued when available.
4. Appointment of an alternate director • Non-executive director Mr Huang James Chih-Cheng has been appointed as alternate director to non-executive director Mr Tan Leon Li-an, effective 18 March 2026 until the conclusion of the next board meeting. • Mr Huang, aged 67, holds 400,000 company shares, is a Texas-qualified CPA, and will receive no remuneration for this role.
Shareholders and potential investors are advised to exercise caution when dealing in the company’s securities until further announcements clarify the investigation’s findings and the revised timetable for financial disclosures.
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