Li Zhiying Arrested | Next Media plunges 17% to a record low, high-level arrested police invest in headquarters

Financial News

Author: Zhai Ziqian

2020-08-10 11:16

Next Media (0282) Group founder Li Zhiying and several senior executives were arrested by the police on suspicion of violating the "National Security Law" this morning. The news stated that Li Zhiying committed the crime of colluding with foreign countries or foreign forces to endanger national security, as well as the crime of conspiracy to defraud and incitement.

Next Media was sold in the early stage, and its stock price plunged by nearly 17%, hitting a low of 0.75 yuan, setting a new listing low, with a turnover of only about 400,000 and a market value of about 200 million yuan.

According to sources, a total of 7 persons were arrested, including several senior executives of One Media, such as Chief Executive Officer Zhang Jianhong, Chief Operating Officer and Chief Financial Officer Zhou Daquan, Chief Executive Officer of One Media Huang Weiqiang, General Manager of One Media Animation Wu Daguang; Li Zhiying and his two sons Li See En and Li Yaoen. In addition, Mark Simon, who was described as a "heavy minister" by Li Zhiying, was wanted by the police.

In addition, nearly 200 police officers raided the Next Media Building this morning.

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Li Zhiying Hong Kong version of the National Security Law