US authorities raised the office of Fuyao Glass Industry Group's (SHA:600660, HKG:3606) subsidiary, Fuyao Glass America, on July 26 as part of a probe against a third-party labor service company, according to the company's Hong Kong Stock Exchange disclosure.
The Chinese glass producer said in the Monday disclosure that Fuyao America is not the target of the probe.
Operations of the subsidiary resumed after the raid. The company said it will cooperate with the investigation.
Price (HKD): $44.33, Change: $-2.93, Percent Change: -6.20%
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