Reported 7 months ago
Former chairman of New Life Insurance, Wu Dongjin, was questioned by the prosecutors on June 13, 2024, related to property transactions. With the upcoming New Kinpo Group shareholder meeting scheduled for the 14th, concerns over this scandal are expected to be a major focus. The vice chairman of New Kinpo Group and New Life Insurance, Hong Shiqi, sent an internal letter on June 13 to boost morale, emphasizing the company's commitment to reforms and values amid challenges. The stock prices of New Kinpo were impacted by the scandal, dropping by up to 4% on the 12th and further declining by 1.49% on the 13th. Foreign investors have been selling New Kinpo shares for three consecutive days, further adding pressure to the stock. Despite the challenges, Hong Shiqi encouraged employees to uphold the company's beliefs and strive for success, highlighting recent achievements in business performance.
Source: YAHOO