BEIJING (Reuters) -Shares of Wuhan Huakang Century Clean Technology surged 15% in Shenzhen by midday Monday, after the company said in a stock exchange filing that its Chair Tan Pingtao had been released from detention.
The company announced last Wednesday that Tan, who is also the controlling shareholder of the company, had been detained by local authorities in the southern province of Guangdong.
“The Guangdong Provincial Supervision Commission has released Mr. Tan Pingtao from retention measures. At present, Mr. Tan Pingtao has been able to normally perform his duties as the legal representative and chairman of the board,” it added.
The statement did not say what Tan had been detained for.
Founded in 2008, Wuhan Huakang Century Clean Technology produces and sells medical purification systems, as well as medical equipment and supplies, according to its website.
Listed on the Shenzhen Stock Exchange and headquartered in Wuhan, the capital of China’s central province of Hubei, it employs over 2,000 people.
(Reporting by Joe Cash; Editing by Lincoln Feast.)
