Hong Kong Stock Exchange: Disciplinary action taken against 15 directors of Xingyue Kang Travel and China Ouyuan

The Hong Kong Stock Exchange announced on January 13 that disciplinary action has been taken against Starjoy Health and Travel Co., Ltd., as well as 15 directors of Starjoy Health and Travel Co., Ltd. and/or China Aoyuan Group Co., Ltd. This case involves Starjoy Health and Travel providing 3.3 billion RMB in financial assistance to its then-listed controlling shareholder, China Aoyuan, without complying with the Listing Rules. From January 1, 2021 to March 31, 2022, China Aoyuan faced serious liquidity problems, and Starjoy Health and Travel provided financial assistance through 147 transactions. The violation of the Listing Rules by Starjoy Health and Travel was due to the failure of the relevant directors to fulfill their director duties.