June 20, 2017 / 1:34 AM / a month ago

Chinese property firm Hailan says unable to reach chairman

1 Min Read

HONG KONG (Reuters) - Chinese property developer Hailan Holdings Ltd (2278.HK) said it has been unable to make contact with its chairman Yeung Man since last Friday but the company's operations were "normal and stable".

It has appointed Chief Executive Zhou Li to act as chairman until further notice, it said in a filing to the Hong Kong bourse late on Monday.

Hailan, a relatively small Chinese firm with a market capitalization of $167 million, is headquartered in Sanya, on the southern Chinese island of Hainan. It listed last July.

Hailan shares have climbed 4.8 percent so far this year, lagging a 17.8 percent jump in the benchmark index .HSI.

There were no bids for the stock in early Tuesday trade. It closed at HK$4.35 on Monday.

($1 = 7.7985 Hong Kong dollars)

Reporting by Donny Kwok; Editing by James Pomfret and Edwina Gibbs

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