Chairman Suspected of Insider Trading Being Investigated, Maywish Biotechnology Responds: Currently Does Not Affect Hong Kong Stock IPO.

On May 10, Magewell Biology announced that the chairman and general manager of the company, Liu Datao, has recently received a "Notice of Filing" from the China Securities Regulatory Commission for suspected insider trading. On May 12, Magewell Biology responded that the aforementioned incident does not affect the company's plan to list on the Hong Kong stock exchange.