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
U.S. Tightens Export Controls to Cover Subsidiaries of Blacklisted Firms
DeepSeek Unveils New Model With Sparse Attention, Slashes API Costs
Tech Brief (Sept. 30): U.S. Widens Export Blacklist
LATEST
Tech Brief (Sept. 30): U.S. Widens Export Blacklist
U.S. Tightens Export Controls to Cover Subsidiaries of Blacklisted Firms
DeepSeek Unveils New Model With Sparse Attention, Slashes API Costs
Tech Brief (Sept. 29): Meituan’s Food-Delivery Platform Keeta Launches in Dubai
Chinese Chipmaker Moore Threads Gets Fast Track Approval to $1.1 Billion IPO
Chinese Drone Maker XAG Files for Hong Kong IPO After First Annual Profit
GPT Weekly: Nvidia to Invest $100 Billion in OpenAI
Tech Brief (Sept. 26): Trump Approves TikTok Deal
Xiaomi Ups the Stakes in Premium Market With iPhone-Style 17 Series
Yangtze Memory’s Parent Restructures to Pave Way for IPO Amid Sanctions Pressures
Tech Brief (Sept. 25): Alibaba Launches AI Models
Alibaba Bets Big on ‘AI + Cloud’ With New Models, Nvidia Deal
GlobalFoundries Boosts U.S. Investment, Adds China Fabs to Meet Auto Chip Demand
Tech Brief (Sept. 24): Mercedes-Benz, ByteDance Partner on In-Car AI
Tech Brief (Sept. 23): Nvidia Plans $100 Billion Investment in OpenAI for AI Data Centers
Tech Brief (Sept. 22): Trump Says Murdoch Family May Be Involved in TikTok Deal
GPT Weekly: CoreWeave Secures $6.3 Billion Nvidia Order
Huawei Unveils Three-Year AI Chip Roadmap as Nvidia Faces Setbacks in China
Tencent Cloud Shuns Price War in Intensifying AI Race
China’s Regulator Ramps Up Push to Curb Food Delivery Subsidy War
Donghai Securities Chairman Steps Down Under Investigation

By Quan Yue and Denise Jia / Jul 19, 2019 05:40 AM / Finance

Photo: VCG

Photo: VCG

Donghai Securities Co. Ltd., a brokerage listed on China’s over-the-counter market, confirmed Thursday that its chairman was “assisting authorities with an investigation” and resigned.

The company said it received a phone call late Tuesday from the public security department of Jiangsu province, where the brokerage is located, saying that Zhu Kemin, chairman of Donghai, is cooperating with an investigation.

Zhu, a former government official who previously held various positions in local governments, the Ministry of Finance and the top securities regulator, submitted his resignation to the board effective Tuesday, the company said. Zhu doesn’t hold any shares of the company.

Donghai Securities didn’t disclose on what matter Zhu is being investigated, but the company received three regulatory penalties this year for lack of risk control in its overseas subsidiaries, inadequately qualified personnel and misuse of funds.

Donghai Securities’ largest shareholder is state-owned Changzhou Investment Group Co., with a 21.59% stake.

The board named director Chen Yaoting as interim chairman for no more than six months. Chen is a vice president of Changzhou Investment Group.

Related: Private Equity Boss Faces Life in Jail After Bilking Investors
Share this article
Open WeChat and scan the QR code