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富 陽（ 中國 ）控股有限公司
(Incorporated in the Cayman Islands with limited liability)
(Stock Code: 352)
ANNOUNCEMENT PURSUANT TO RULE 13.51B(2)This announcement is made pursuant to Rule 13.51B(2) of the Rules Governing the Listing of Securities on The Stock Exchange of Hong Kong Limited.
The board (the "Board") of directors (the "Directors") of Fortune Sun (China) Holdings Limited (the "Company") has been informed by Dr. Cheng Chi Pang ("Dr. Cheng"), an independent non-executive Director, that by an order dated 18 December 2015 (the "Order") made by the disciplinary committee of the Hong Kong Institute of Certified Public Accountants (the "Institute"), Leslie Cheng & Co, a firm of accountants of which Dr. Cheng was also the senior partner and Dr. Cheng as the engagement quality control reviewer had been reprimanded for the failure or neglect to observe, maintain or otherwise apply professional standards issued by the Institute in carrying out the work in the audit of the financial statements of a Hong Kong listed company and its subsidiaries for the year ended 31 December 2009 pertaining to (i) recognition of depreciation and financial statement disclosure of plant and machinery; (ii) fair value measurements of shares issued as consideration for two substantial acquisitions; and (iii) determination of weighted average number of ordinary shares for the purpose of calculating the loss per share. According to the Order, no allegation of fraud or dishonesty was made against Dr. Cheng.
Dr. Cheng was found to be in breach of the Hong Kong Standards on Auditing 220 and paragraphs 100.4 and
130.1 of the Code of Ethics for Professional Accountants, and was ordered to pay a penalty of HK$100,000 and costs of the hearing totaling HK$10,250. In addition, Dr. Cheng and the other respondent were ordered to jointly and severally pay the remaining costs and expenses of and incidental to the complaint proceedings in a sum of HK$280,788.70.
The Board confirms that the Order does not relate to, and will not affect, the normal business operations of the Company and its subsidiaries. The Board does not consider that the Order would have any impact on Dr. Cheng's ability to discharge his duties as an independent non-executive Director. Save as disclosed in this announcement, there is no other matter that needs to be brought to the attention of the shareholders of the Company.
By order of the Board
Fortune Sun (China) Holdings Limited Chiang Chen FengChairman
Hong Kong, 13 January 2016
As at the date of this announcement, the executive Directors are Mr. Chiang Chen Feng, Ms. Chang Hsiu Hua and Mr. Han Lin; the non-executive Director is Ms. Lin Chien Ju; and the independent non-executive Directors are Dr. Cheng Chi Pang, Mr. Ng Wai Hung and Mr. Cui Shi Wei.