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Updated on May 24, 2022 4:07 am

China securities regulator orders Lenovo to repair info disclosures By Reuters



© Reuters. FILE PHOTO: A Chinese language nationwide flag flutters outdoors the China Securities Regulatory Fee (CSRC) constructing on the Monetary Road in Beijing, China July 9, 2021. REUTERS/Tingshu Wang

SHANGHAI/BEIJING (Reuters) -China’s securities regulator on Thursday ordered Lenovo Group (OTC:) to rectify info disclosure points.

The China Securities Regulatory Fee (CSRC) stated in an announcement {that a} common on-site inspection discovered that the Chinese language laptop agency launched its 2020 annual report in Hong Kong sooner than it did in mainland China.

Lenovo’s disclosure by way of the Shanghai Inventory Change of its acquisition of Banque Internationale a Luxembourg SA additionally lagged its announcement by means of the Hong Kong bourse, it stated.

The corporate additionally did not disclose that shares of some Lenovo subsidiaries have been used as collateral, whereas info involving non-operational lending actions was not correct.

Lenovo didn’t instantly reply to a request for remark.

Shares in Lenovo have been up 0.5% on Thursday morning.

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