Santech Holdings Chairman, CEO Are Detained and Under Investigation

Dow Jones09-17

By Denny Jacob

Santech Holdings disclosed that Chairman Han Hongwei and Chief Executive Wang Dian have been detained by and currently under investigation by a certain branch office of the Shanghai Municipal Public Security Bureau.

The consumer-focused technology company said the detainment and investigation relate to alleged illegal activities at Hywin Wealth Management.

The company previously said it terminated certain arrangements with Hywin, which is wholly owned and controlled by Hongwei, in June.

Santech appointed Lawrence Wai Lok to the board and as acting CEO as Hongwei and Dian are unable to fulfill their respective roles. It also said Chen Jie and Joel Gallo will continue to serve as independent non-executive directors.

Write to Denny Jacob at denny.jacob@wsj.com

(END) Dow Jones Newswires

September 17, 2024 08:12 ET (12:12 GMT)

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

{"i18n":{"language":"en_US"},"isChannel":false,"data":{"share":"https://ttm.financial/m/news/2468835504?lang=en_US&edition=fundamental","thumbnail":"","is_english":true,"pubTime":"2024-09-17 20:12","share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","id":"2468835504","market":"us","top_or_hot":-1,"title":"Santech Holdings Chairman, CEO Are Detained and Under Investigation","media":"Dow Jones","content":"<font class=\"NormalMinus1\" face=\"Arial\">\n<p>\n  By Denny Jacob \n</p>\n<pre>\n \n</pre>\n<p>\n  Santech Holdings disclosed that Chairman Han Hongwei and Chief Executive Wang Dian have been detained by and currently under investigation by a certain branch office of the Shanghai Municipal Public Security Bureau. \n</p>\n<p>\n  The consumer-focused technology company said the detainment and investigation relate to alleged illegal activities at Hywin Wealth Management. \n</p>\n<p>\n  The company previously said it terminated certain arrangements with Hywin, which is wholly owned and controlled by Hongwei, in June. \n</p>\n<p>\n  Santech appointed Lawrence Wai Lok to the board and as acting CEO as Hongwei and Dian are unable to fulfill their respective roles. It also said Chen Jie and Joel Gallo will continue to serve as independent non-executive directors. \n</p>\n<pre>\n \n</pre>\n<p>\n  Write to Denny Jacob at denny.jacob@wsj.com \n</p>\n<pre>\n \n</pre>\n<p>\n  (END) Dow Jones Newswires\n</p>\n<p>\n  September 17, 2024 08:12 ET (12:12 GMT)\n</p>\n<p>\n  Copyright (c) 2024 Dow Jones &amp; Company, Inc.\n</p>\n</font>","source":null,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Santech Holdings Chairman, CEO Are Detained and Under Investigation</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nSantech Holdings Chairman, CEO Are Detained and Under Investigation\n</h2>\n\n<h4 class=\"meta\">\n\n\n2024-09-17 20:12 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://dowjonesnews.com/newdjn/logon.aspx?AL=N><strong>Dow Jones</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>By Denny Jacob \n\n\n \n\n\n  Santech Holdings disclosed that Chairman Han Hongwei and Chief Executive Wang Dian have been detained by and currently under investigation by a certain branch office of the ...</p>\n\n<a href=\"https://dowjonesnews.com/newdjn/logon.aspx?AL=N\">Source Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","isBrief":false,"type":0,"news_type":1,"symbol":"BK4135","symbol_name":"资产管理与托管银行","start_time":0,"source_url":"https://dowjonesnews.com/newdjn/logon.aspx?AL=N","article_id":"2468835504","we_media_id":"106","thumbnails":[],"rights":null,"url":"https://stock-news.laohu8.com/highlight/detail?id=2468835504","pubTimestamp":1726575120,"sourceInfo":null,"weMediaInfo":{"media_name":"Dow Jones","introduction":"Dow Jones publishes the world’s most trusted business news and financial information in a variety of media.","home_visible":0,"id":"106","head_image":"https://static.tigerbbs.com/150f88aa4d182df19190059f4a365e99"},"summary":"Santech Holdings disclosed that Chairman Han Hongwei and Chief Executive Wang Dian have been detained by and currently under investigation by a certain branch office of the Shanghai Municipal Public Security Bureau.The consumer-focused technology company said the detainment and investigation relate to alleged illegal activities at Hywin Wealth Management.The company previously said it terminated certain arrangements with Hywin, which is wholly owned and controlled by Hongwei, in June.Santech appointed Lawrence Wai Lok to the board and as acting CEO as Hongwei and Dian are unable to fulfill their respective roles. It also said Chen Jie and Joel Gallo will continue to serve as independent non-executive directors.","collect":0,"end_time":0,"defaultTopTitle":"","property":[],"viewcount":null,"language":"en","relate_stocks":{"BK4135":"资产管理与托管银行","STEC":"三合智能"},"translate_title":"尚泰控股董事长、首席执行官被拘留并接受调查","themeId":null,"isJumpTheme":false,"ttsUrl":null,"symbols_score_info":{"STEC":0.9},"content_text":"By Denny Jacob \n\n\n \n\n\n  Santech Holdings disclosed that Chairman Han Hongwei and Chief Executive Wang Dian have been detained by and currently under investigation by a certain branch office of the Shanghai Municipal Public Security Bureau. \n\n\n  The consumer-focused technology company said the detainment and investigation relate to alleged illegal activities at Hywin Wealth Management. \n\n\n  The company previously said it terminated certain arrangements with Hywin, which is wholly owned and controlled by Hongwei, in June. \n\n\n  Santech appointed Lawrence Wai Lok to the board and as acting CEO as Hongwei and Dian are unable to fulfill their respective roles. It also said Chen Jie and Joel Gallo will continue to serve as independent non-executive directors. \n\n\n \n\n\n  Write to Denny Jacob at denny.jacob@wsj.com \n\n\n \n\n\n  (END) Dow Jones Newswires\n\n\n  September 17, 2024 08:12 ET (12:12 GMT)\n\n\n  Copyright (c) 2024 Dow Jones & Company, Inc.","kind":null,"is_publish_news":true,"is_publish_highlight":false,"is_publish_live":false,"is_publish_wemedia":null,"editions":null,"column":"","sentiment":"0","news_tag":"","news_rank":0,"symbols":[],"gpt_button":0},"commentList":[],"isCommentEnd":true,"newsSizeData":{"likeSize":0,"commentSize":0,"repostSize":0,"favoriteSize":0,"likeStatus":false,"favoriteStatus":false},"APP":{"userAgent":"Mozilla/5.0 AppleWebKit/537.36 (KHTML, like Gecko; compatible; ClaudeBot/1.0; +claudebot@anthropic.com)","isDev":false,"isTTM":true,"deviceId":"web-server-community-laohu8-v3","version":"4.29.1","shortVersion":"4.29.1","platform":"web","vendor":"web","appName":"ttm","isIOS":false,"isAndroid":false,"isTiger":false,"isTHS":false,"isWeiXin":false,"isWeiXinMini":false,"isWeiBo":false,"isQQ":false,"isBaiduSwan":false,"isBaiduBox":false,"isDingTalk":false,"isToutiao":false,"isOnePlus":false,"isHuaWei":false,"isXiaomi":false,"isXiaomiWebView":false,"isOppo":false,"isVivo":false,"isSamsung":false,"isMobile":false},"href":"/m/news/2468835504"}