Yincheng Life Service Co., Ltd. (HK:1922) has released an update.
Yincheng Life Service Co., Ltd. has announced the immediate removal of Mr. Li Chunling as an executive director following whistleblower allegations of unauthorized off-the-books payments and undeclared conflicts of interest. Subsequent allegations were made against Mr. Huang Qingping, a non-executive director and controlling shareholder, accusing him of misappropriation of funds and undisclosed related-party transactions. The company’s board is conducting preliminary inquiries, stating that these allegations currently do not impact the company’s operation and financial performance.
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