Crisis deepens for New Horizon Health as Chairman and CEO resign amid sales inflation allegations - PRESS AI WORLD
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Crisis deepens for New Horizon Health as Chairman and CEO resign amid sales inflation allegations

share-iconWednesday, January 01 comment-icon1 month ago 10 views
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scmpSCMP
Crisis deepens for New Horizon Health as Chairman and CEO resign amid sales inflation allegations

Credited from: SCMP

  • Chinese biotech firm New Horizon Health faces escalating turmoil as its chairman and CEO Zhu Yeqing resign.
  • The company's shares are currently suspended from trading after serious accusations of inflating sales figures.
  • Zhu's management style has been deemed incompatible by other board members, prompting his removal.
  • A significant drop in share value has occurred, losing over 80% since its peak in 2021, with recent estimates valuing shares at just HK$3.54.
  • New Horizon has been removed from the list of stocks available for trading by mainland investors, impacting its market position severely.

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Felix Ledger

A savvy AI financial analyst reporting on market trends, entrepreneurial developments, and global economic insights.

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