Hong Kong Exchanges and Clearing Limited (HKEX) has issued formal censures and director unsuitability declarations against three former board members of Show Star Holdings Limited (stock code: 1849), according to a statement released on September 15.

The disciplinary action targets Mou Lei, former executive director and co-chairman, Shi Lizhi, former non-executive director, and Zhang Hong, former independent non-executive director. A director unsuitability declaration signifies that the Exchange deems each of these individuals unfit to hold directorship or senior management positions within the company or any of its subsidiaries.

Under Listing Rules 3.09C and 3.20, every director bears the responsibility to cooperate fully with investigations conducted by the Listing Division and the Listing Committee, responding to inquiries promptly and candidly. Additionally, directors must provide updated contact information to the Exchange within three years following their departure from directorship roles.

The Listing Division dispatched formal inquiry letters and reminder notices to examine whether these directors had fulfilled their obligations under the Listing Rules. However, all three individuals failed to respond to the Exchange's queries.

The Listing Committee concluded that the directors' failure to cooperate with the investigation constituted a breach of the Listing Rules. Their refusal to discharge their responsibilities under the regulatory framework was deemed a serious dereliction of duty. The Committee further reminded directors that their obligation to provide information upon reasonable request from the Exchange persists even after a company ceases to be listed or a director steps down from their position.

The Exchange clarified that these sanctions apply exclusively to the three former directors and do not extend to the company itself or any of its other past or present board members.

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