The Stock Exchange of Hong Kong Limited (a wholly owned subsidiary of Hong Kong Exchanges and Clearing Limited) on 10 November 2026 announced disciplinary action against two former directors of TOMO Holdings Limited. The Exchange issued both a Director Unsuitability Statement and a public censure to Ms Liu Xinyi, former non-executive director, and Mr Wang Zhongmin, former independent non-executive director.
Under Listing Rules 3.09C and 3.20, directors must cooperate with Listing Division investigations, respond promptly to enquiries, and maintain up-to-date contact details for three years after leaving office. Despite multiple investigation and reminder letters, neither Ms Liu nor Mr Wang replied, leading the Listing Committee to conclude that both had breached their obligations.
The Committee deemed the non-cooperation a serious failure of duty and confirmed that such responsibilities persist even after a company delists or a director resigns. Consequently, the Exchange’s Director Unsuitability Statement declares both individuals unfit to hold any directorship or senior management role at TOMO Holdings or its subsidiaries.
The sanctions apply exclusively to Ms Liu and Mr Wang; no disciplinary measures were imposed on TOMO Holdings itself or any other current or former directors.
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