报告名称:Jinmao Investments(06139.HK)Company confirms chairman under investigation
报告类型:港股研究
报告日期:2016-02-11
研究机构:高盛集团
股票名称:金茂投资-SS
股票代码:06139
页数:5
简介:News
According to a company announcement dated Feb 10, 2016, referring to anotice on the official website of the CPC Central Commission for DisciplineInspection and Ministry of Supervision of the People’s Republic of China onFeb 6, 2016, Mr. Xiyou Cai, the chairman and a non-executive director ofJinmao Investments, is under investigation by the authorities for“suspected serious disciplinary violations”. Mr. Cai is also the chairmanand a non-executive director of China Jinmao Holdings Group Limited(0817.HK, Neutral, HK$1.95), the controlling holder of Jinmao Investments.
Analysis
In this announcement the company also stated that, based on theinformation currently available, the investigation is not related to thecompany’s business, operations and financial status, none of which hadbeen affected as at the date of the announcement.
Jinmao Investments appointed Mr. Cai as non-executive director andchairman of the company as of Oct 9th, 2015. He has also served as adirector and president of Sinochem Group, the ultimate controllingshareholder of Jinmao Investments, since Aug 2014, and as vice-chairmanof Sinochem Corporation since Oct 2014. He is a former member of theParty Leadership Group of China Petrochemical Corporation and seniorvice president of China Petrochemical Corporation.
Implications
Our estimates, rating and target price on Jinmao Investments are unchanged.
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