Dynasty Fine Wines Group Limited (Stock Code: 828), a premier winemaker in China, is pleased to announce that, with it having fulfilled all the conditions for resumption of trading of its shares as provided by the Hong Kong Stock Exchange, trading of its shares will resume today at 9:00 a.m.
Among the trading resumption conditions, the Company has fulfilled the condition in relation to internal investigation in October 2016 by issuing an announcement pertaining to an internal investigation report in August 2016. In addition, as all outstanding financial results have been published in or before July 2019, the Company has fulfilled the condition of publishing its financial results.
In the past few years, the Company had made its best effort to enhance step-by-step its internal control system, based on the recommendations of its internal control adviser. The current management had further improved the internal control function of the Company and completed relevant rectification as advised. The Company had also implemented new procedures and measures for revenue recognition, and devised 13 internal control policies and guidelines for inventory management, file management, trade receivables management and control of selling expenses, and the internal control adviser had made further reviews to ensure the enhanced procedures and measures had been implemented and complied with.
Mr. Sun Jun, Chairman and Executive Director of Dynasty, said, “We are very pleased that trading of our shares will resume today. I would like to take this opportunity to thank the management, colleagues and the working parties involved for their effort to help us fulfil the conditions for resumption of trading of our shares. Looking ahead, Dynasty will continue to strengthen corporate governance and its internal control procedures and steadily develop its business, with the aim of building a stronger Dynasty and bring maximum value to shareholders.”
