Chinese Rare Earth: The total amount of overdue unpaid debts involving executive director Jiang Quanlong exceeds 200 million yuan.

The announcement from the Hong Kong Stock Exchange shows that the board of directors of China Rare Earth has found that the total amount of overdue unpaid debts involving executive director Jiang Quanlong has exceeded 200 million yuan. Jiang Quanlong has refused to provide any reasonable explanation. The board of directors confirms that Jiang Quanlong has suspended repayment since November 26, 2024 and must resign as a director from that date of suspension of repayment.