Update: SOHO China being investigated on suspicion of insider trading
Published: Jul 06, 2022 04:22 PM
Wangjing SOHO in Beijing Photo: VCG

Wangjing SOHO in Beijing Photo: VCG

SOHO China announced on Thursday on the Hong Kong Exchanges and Clearing Limited that the company was aware that its CFO Ni Kui Yang is under investigation for alleged insider trading of the company's shares. None of the company's directors and other senior management were aware of the suspected insider trading and are not under investigation. 

According to the announcement, Ni is no longer able to perform the duties as the company's CFO until the investigation is completed and the company has transferred her duties accordingly. The investigation will have no material adverse impact on the business operations of the firm, SOHO stated.

The information spread online claiming "CFO of SOHO China Ni Kuiyang is being investigated by police on suspicion of insider trading" is not unfounded, the Global Times learnt from a source close to the matter on Wednesday. 

Some Weibo posts recently said Ni, Chief Financial Officer of one of China's biggest real estate developers SOHO China, was subjected to police investigation on suspicion of insider trading, and senior management personnel were also being investigated. 

The posts have attracted attention from shareholders with some questioning the company which did not publicly disclose major changes of the company in a timely manner. Some shareholders called on SOHO China to earnestly safeguard the interests of the shareholders and release relevant information as soon as possible.

Global Times