Hong Kong Exchanges and Clearing has reserved its right to take action against Hung Hing Printing Group for breaching listing rules, after it was found to have selectively disseminated stock price sensitive information.
This came two days after the mainboard-listed paper-maker and printer's executive director Tommy Yam Hon-ming told Reuters he expected the firm to see a 10 per cent year-on-year drop in net profit for the six months to September 30.
He also said during the interview that he expected performance in the six months to March 31 next year to be comparable to that in the same period this year, Hung Hing said in an announcement yesterday.
'The board wish to clarify that such an estimate has however not been reviewed by auditors of the company,' it added.
'The stock exchange is of the view that there has been selective dissemination of price-sensitive information of the company to a reporter and reserves the right to take appropriate action in relation to a breach of listing rules.'
Meanwhile, cap-maker Mainland Headwear Holdings may also have breached listing rules by releasing price-sensitive information to select media.