Santech reports chairman Han Hongwei, CEO Wang Dian have been detained
Written by Emily J. Thompson, Senior Investment Analyst
Updated: Sep 17 2024
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Should l Buy ?
Board Changes Due to Investigation: Santech Holdings announced that its Chairman, Mr. Han Hongwei, and CEO, Madame Wang Dian, are under investigation by the Shanghai Municipal Public Security Bureau for alleged illegal activities related to Hywin Wealth Management, leading to their inability to fulfill their roles.
New Leadership Appointments: In light of the situation, Mr. Lawrence Wai Lok has been appointed as a board member and acting CEO, while the company continues to retain independent directors and legal counsel to navigate the implications of the investigation.
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About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
