China Tianrui Group Cement Co Ltd (HK: 01252) announced on August 21, 2026 that it has established an independent board committee composed of all its independent non-executive directors, including Mr. Mai Tiansheng (serving as committee chairman), Mr. Kong Xiangzhong, and Mr. Zhang Yu.
The newly formed committee is tasked with leading and supervising a forensic investigation into matters related to prepayments and fund flows. Specifically, its responsibilities include selecting and appointing an independent investigation agency with the necessary professional expertise, particularly in forensic accounting skills, to carry out the probe.
The committee will oversee the overall planning, execution, and progress of the forensic investigation, ensuring comprehensive scope and appropriate methodology. It is also mandated to maintain regular communication with both the investigation agency and the company's auditors to discuss findings and ensure that the forensic review addresses unresolved issues identified during the audit process.
Additionally, the committee will carefully review draft and final investigation reports, evaluate the adequacy of the forensic work, and determine whether any identified misconduct represents isolated incidents or systemic issues. It will report findings and recommended remedial actions to the board, while maintaining direct liaison with the stock exchange regarding investigation-related matters and responding to exchange inquiries to ensure independence.
Trading in the company's shares will continue to remain suspended during this period.
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