Caixin
Caixin Global – Latest China News & Headlines

Home >

ABOUT US

CX Tech is Caixin Global's real-time tech news portal, featuring 24-hour news, short-form analysis, and roundups from business and tech media in China.

TRENDING
Mobile Game Revenue Steadily Recovering, Report Says
Henlius Biotech Raises $410 Million in Hong Kong IPO
Chinese Smartphone-Maker, Big in Africa, Prices IPO Far Above Apple
LATEST
China Expected to Have First Self-Designed DRAM Chip by Year End
Chinese Gaming Giant NetEase to Raise More Pigs
AB InBev Asian IPO Price Polling Below Midpoint of Range, Again
iPhone 11 Released in China to Mixed Reception From Shoppers
Pony Ma Steps Down as Tencent Credit’s Legal Representative
Local Emissions-Cutting Projects Could Help China Surpass International Commitments: Report
Short-Term Reference Rate for Loan Pricing Edges Down
Tencent Offers Open-Source System for IoT Innovation
Chinese Smartphone-Maker, Big in Africa, Prices IPO Far Above Apple
Dajia Insurance Launches Online Shop
World’s Highest Grid Project Takes Shape on ‘Roof of the World’
Battery Giant CATL in $1.4 Billion Fund-Raising Plan
Alibaba Recruits Big-Hitters for AI Research Labs
Zhejiang Regulators May Struggle to Implement Consumer Loan Rules
Is This Chinese Local Government Using a Journalist’s Trial to Quash Dissent?
ABB Bulks Up With Huawei on Industrial Cloud
China Biologic Receives $4.6 Billion Buyout Offer
Henlius Biotech Raises $410 Million in Hong Kong IPO
Mobile Game Revenue Steadily Recovering, Report Says
China’s Cybersecurity Industry Expected to Grow 23% to $8.9 Billion
Hong Kong-Listed Developer’s Stock Plunges After Report Accusing Chairman of Child Molestation

By Zhao Runhua and Qu Hui / Jul 03, 2019 05:32 PM / Finance

Photo: VCG

Photo: VCG

The stock price of Hong Kong-listed real estate developer Future Land Development Holdings plunged 24% after media reported that parent company Chairman Wang Zhenhua allegedly molested a child.

According to Xinmin Evening News, Shanghai’s local publication supervised by the Communist Party, last Saturday, two girls — one 9 years old and one 12 years old— were brought to a hotel in Shanghai from East China’s Jiangsu province by a woman surnamed Zhou, who was friends with the girls’ parents. Zhou told the parents she was taking the girls to the Shanghai Disney Resort.  

Wang allegedly molested the 9-year-old girl and paid Zhou 10,000 yuan cash ($1,452), Xinmin reported. The girl then called her mother on the phone, crying. The mother rushed to Shanghai to report the incident to the police. A medical examination showed the girl had suffered injuries to her genitals, Xinmin reported.  

Local police later took “coercive measures” against Wang — a euphemism for actions like detention, Xinmin reported, citing sources familiar with the issue.

Caixin could not reach Wang for comment. The company has yet to respond to the media report.


Share this article
Open WeChat and scan the QR code