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Xi Mihua Case | Sun City Ripples with 37%, warns that operations will be affected if Zhou Zhuohua’s support is not supported

2021-11-30T01:41:54.519Z

Macau casino tycoon Zhou Zhuohua, known as "washing rice," was arrested, and two of its suspended companies resumed trading this morning. Suncity Group (1383) opened 37.25% lower and reported 0.16 yuan; Kaisheng Holdings (0102) also opened 41.24% lower,



Macau casino tycoon Zhou Zhuohua, known as "washing rice," was arrested, and two of its suspended companies resumed trading this morning.

Suncity Group (1383) opened 37.25% lower at RMB 0.16; Kaisheng Holdings (0102) also opened 41.24% lower at RMB 0.285.

The Suncity notice stated that with regard to the allegations that Russia's Tigre de Cristal was involved in cross-border gambling activities, the board of directors would like to clarify that the allegations are false.

But the company added that the group relies on the financial support of Zhou Zhuohua and its affiliates.

Once the group (for any reason) loses Zhou Zhuohua’s support, the financial condition, business and operations of the group will be negatively affected. It also refers to the Sun City Gaming Intermediary One Person Co., Ltd., which is wholly owned by Zhou Zhuohua, once it fails to provide the group with hotels For accommodation products, the group has not been able to find a substitute supplier, and the group’s travel-related business segment will be negatively affected.

In addition, the notice also stated that Zhou Zhuohua informed that he had expressed his intention to resign as the chairman of the board of directors and the company's executive director.

Regarding Suncity’s company, Triumph Holdings, which controls Crystal Tiger Palace, it also clarified that no director, senior staff or employee of any member company has ever solicited customers for the gaming business of Crystal Tiger Palace in the Mainland.

The company added that it was informed by Zhou Zhuohua that it intends to resign as the chairman of the company's board of directors and a non-executive director.

Ximihua case|Kaisheng: Zhou Zhuohua intends to resign as chairman and non-executive director. Trading in Ximihua case resumed on Tuesday. Suncity denies that Crystal Tiger Palace is involved in cross-border gambling. In addition to gambling, it is also involved in entertainment and NFT business 01 Exclusive·Ximihua Case|Mandy Lieu Mid-Levels Mansion Mortgage to Melco Subsidiary for Debt Repayment

Source: hk1

All news articles on 2021-11-30

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