Baiyunshan Pharmaceutical's Executive Director Resigns Amid Ongoing Investigation

MT Newswires Live09-03

Zhang Chunbo, an executive director of Guangzhou Baiyunshan Pharmaceutical (SHA:600332, HKG:0874), resigned, citing "personal reasons," according to a Sunday disclosure on the Hong Kong Stock Exchange.

However, sources told Yicai Global that the reason for Zhang's resignation is that he is under official investigation, a Monday report said.

The Chinese pharmaceutical company said that Zhang has no disagreement with its board of directors and there were no matters relating to his resignation that is needed to be brought to its shareholders' attention, the company's disclosure noted.

Shares of the company slipped more than 1% on the Shanghai bourse.

Price (HKD): $26.33, Change: $-0.38, Percent Change: -1.42%

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