Storm Group Receives Letters of Concern

Storm Group’s Letter of Concern: It is necessary to explain the impact of Feng Xin’s arrest on the company.
Sept. 3, Shenzhen Stock Exchange sent a letter of concern to Storm Group (300431) asking the company to state whether it was aware of Feng Xin’s arrest approval. If so, please specify the specific time for knowing the matter and whether it fulfilled its obligation to disclose information in time.
In the letter of concern, it is requested to clarify whether Feng Xin’s suspected bribery and job embezzlement against non-state functionaries are related to the company. If so, please specify the specific situation and its impact on the company.
In the letter of concern, Feng Xin is still the legal representative, chairman and general manager of the company. Whether Feng Xin can perform his duties normally after his arrest is approved by the procuratorate for suspected crimes, if not, please explain the impact of the matter on the company and the measures the company intends to take to solve it.
The following is the full text of the letter of concern:
Letter of Concern about Storm Group Co., Ltd.
GEM Concern Letter No. 238 [2019]
The board of directors of Storm Group Co., Ltd.
On the afternoon of September 2, 2019, Shanghai People’s Procuratorate Weixin Public Number “Shanghai Procuratorate” issued a news that “recently, the Jing’an District Procuratorate approved the arrest of Feng Xin, the legal representative of the suspect Storm Group Co., Ltd., on suspicion of bribery and job embezzlement against non-state functionaries. The case is under further processing.” Our department is very concerned about this. Please check and explain the following matters:

  1. Whether the company is aware of the matter, and if so, please specify the specific time when it is aware of the matter and whether it has fulfilled its obligation to disclose information in a timely manner.
  2. Whether Feng Xin’s suspected bribery and job embezzlement against non-state functionaries are related to the company, if so, please specify the specific situation and its impact on the company.
  3. Feng Xin is still the legal representative, chairman and general manager of the company. Whether Feng Xin can perform his duties normally after being arrested after being approved by the procuratorate for suspected crimes, if not, please explain the impact of the matter on the company and the measures the company intends to take.
佛山桑拿

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