Chi­nese ac­tress barred 5 years from stock trading

Daily Sabah (Turkey) - - Business -

BILLIONAIRE Chi­nese ac­tress Zhao Wei and her hus­band have been barred from trading in the main­land stock mar­ket for five years and fined by the se­cu­ri­ties reg­u­la­tor, which cited their dis­clo­sure ir­reg­u­lar­i­ties re­lat­ing to a takeover bid of a firm. Zhao and her hus­band Huang You­long, through a com­pany they con­trolled - Ti­bet Long­wei Cul­ture Me­dia Co - made a failed at­tempt to buy 29.1 per­cent of Zhe­jiang Wan­jia Co in late 2016. Zhe­jiang Wan­jia was later taken over by an­other in­vestor and re­named Zhe­jiang Sun­river Cul­ture Co. But Ti­bet Long­wei’s bid drew scru­tiny of the China Se­cu­ri­ties Reg­u­la­tory Com­mis­sion (CSRC) re­gard­ing in­for­ma­tion dis­clo­sure and take over­fi­nanc­ing abil­ity. The reg­u­la­tor stated that the bid made mis­lead­ing state­ments and ma­jor omis­sions in dis­clo­sures, ac­cord­ing to a fil­ing by Zhe­jiang Sun­river to the Shang­hai stock ex­change. Zhao and Huang built up an es­ti­mated 7 bil­lion yuan in wealth through their in­vest­ments, in­clud­ing early stakes in Alibaba Pic­tures Group, and were ranked 567 in the 2017 list of China’s rich­est com­piled by the Hu­run Re­port. Zhao, 41, came into na­tional promi­nence for star­ring in the cos­tume TV drama “My Fair Princess”, pro­duced jointly be­tween Tai­wan and main­land China in 1998. She was also part of the pop­u­lar “Shaolin Soc­cer” and “Red Cliff ” movies.

Zhao Wei

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