Hong Kong Securities Regulatory Commission: China Ecological Tourism Group's acquisition of a blockchain company was improper and disciplinary action

The Securities and Futures Commission (SFC) of Hong Kong has announced that it has taken disciplinary action against China Ecotourism Group Limited (China Ecotourism) and its seven current and former directors in collaboration with the Hong Kong Stock Exchange (HKEX). The investigation mainly focused on improper conduct, including granting 13 loans totaling HKD363 million and RMB91 million to nine borrowers, and acquiring a 37.5% stake in a blockchain technology company for HKD35 million.