HUA HENG BIOTECH Actual Controller Detained by Police, Emergency Termination of H-share Listing One Day After Passing HKEX Hearing
NewTimeSpace News: Anhui Huaheng Biotech Co., Ltd. (688639.SH) issued an announcement stating that Ms. Guo Henghua, the Company’s actual controller, Chairman and General Manager, has been detained on suspicion of the crime of illegal absorption of public deposits and has resigned from all positions in the Company. The Company held an emergency board meeting on 24 June and appointed Mr. Fan Yi as the new Chairman and General Manager. On the same day, the board approved the termination of the H-share offering and Hong Kong listing. The Company stated the investigation is unrelated to its daily operations, and production and business activities remain normal.
NewTimeSpace News: Anhui Huaheng Biotech Co., Ltd. (688639.SH) released an official announcement on 25 June 2026, disclosing that its actual controller, Chairman and General Manager Ms. Guo Henghua has been placed under criminal detention, and the Company has abruptly terminated its plan to issue H-shares and list on HKEX Main Board.
Per the announcement, the Company was notified by Ms. Guo’s family on 24 June that she received a detention notice from Shushan Branch of Hefei Public Security Bureau and was criminally detained on suspicion of illegal absorption of public deposits. The Company confirmed the investigation matter bears no connection to the Company’s business operations. On the same day, Ms. Guo submitted a written resignation, stepping down from her roles as Chairman, General Manager, Director, and all posts on special committees under the Board of Directors.
The Company convened an extraordinary 6th meeting of the 5th Board of Directors on 24 June, electing Mr. Fan Yi as Chairman and appointing him General Manager. At the same board meeting, directors passed the resolution to terminate the issuance of H-shares and the proposed listing on the Main Board of The Stock Exchange of Hong Kong Limited.
The Company kicked off its H-share listing plan in September 2025 and just passed the HKEX Main Board listing hearing on 24 June 2026.
Following internal self-inspection, the Company’s core business focuses on bio-manufacturing and is not involved in illegal public fund absorption. All other directors and senior management perform their duties normally, the Board operates smoothly, and production and daily business run as usual. The Company has no further details on the progress or conclusion of the criminal investigation and will continue to fulfill its information disclosure obligations as developments unfold.
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