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Venus MedTech Hangzhou Inc (2500 HK)

Year: 2023

Last Updated: 6 Jul, 2024

Chinese medical devices manufacturer, Venus MedTech, listed on the Hong Kong Exchange in October 2019. In May 2023, the company announced that unsecured loans had been made to senior management without board approval between June 2021 and January 2023. The loans and interest had reportedly been repaid. The next month, in June, the company lost its CFO and auditor. In November, the company requested a trading halt pending an announcement which disclosed that it was conducting a further investigation on whether IPO proceeds had been misused. The company's shares remain suspended.

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