XTALPI Addresses Redco Disciplinary Action, Confirms No Impact on Group Operations

Bulletin Express07-30

XTALPI Holdings Limited announced that Hong Kong’s Stock Exchange has issued a Statement of Disciplinary Action against Redco Healthy Living Company Limited and two of Redco’s directors over fund-flow issues between March 2022 and June 2023.

Mr. Chow Ming Sang, an independent non-executive director (INED) of XTALPI, also serves as an INED at Redco but is not among the sanctioned directors. XTALPI highlighted that: • The Exchange’s sanctions apply solely to Redco and the two named directors, excluding Mr. Chow. • Mr. Chow has resigned from Redco’s board and audit committee, effective 31 July 2026.

XTALPI’s board states that the disciplinary action concerns Redco’s subsidiaries and is unrelated to XTALPI’s operations, adding that Mr. Chow’s role and suitability as an INED at XTALPI remain unaffected.

No additional disclosures are required under Listing Rule 13.51B(2), and the company affirms that the matter will not impact the group’s business or governance.

Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.

Comments

We need your insight to fill this gap
Leave a comment