Shiyi Technology, an e-commerce company based in Xiamen that sells eye-care products, has been fined one million yuan (HK$1. 15 million) by the local authority for false advertising as it claimed it had been listed in Hong Kong and held a bell-ring ceremony on its own.
Shiyi Technology was fined by the Siming District Administration with regard to Market Regulation of Xiamen for false publicity on August 18.
In November 2021, the particular company kept a press conference to announce it would enter the Hk capital market, and held a bell-ringing ceremony on January 22 this year.
The organization later announced on its website that it was a “main board outlined company of the Hong Kong Stock Exchange” with the particular stock code 1592.
However, there was no Shiyi Technologies was listed on the HKEX that will day plus there is no information about the company from HKEX.
The company apologized upon March 21 and said the incident was caused by misleading info from Yueshang Listing Advisor, a listing consultant business.