Founder of Hylink Digital Solutions Su Tong has resigned from the position of CEO. This decision follows the allegations of market manipulation. Hylink is a listed company and is one of China’s leading digital advertising agencies.
With an ongoing investigation, the company decided that Su Tong’s resignation aims to safeguard Hylink’s reputation and ensure smooth operations. Details surrounding the allegations of stock irregularities remain unclear as the investigation unfolds.
The Foundation of Hylink
Founded in 1994 by Su Tong, Hylink emerged as the largest digital marketing agency in China. Starting in Beijing, the company rapidly expanded its footprint both domestically and internationally. Today, Hylink has a global network with offices in cities such as Los Angeles, Paris, Milan, and Seoul, underscoring its influence on the global stage.
Over the decades, Hylink has been instrumental in shaping the digital advertising landscape. Its services span media planning, content creation, and data analytics, catering to diverse industries, including luxury, automotive, technology, and e-commerce. The agency’s ability to adapt to industry shifts has cemented its reputation as an innovative leader in the digital marketing sector.
Allegations Against Hylink
Despite its impressive trajectory, Hylink recently faced significant challenges following allegations of stock price manipulation.The China Securities Regulatory Commission (CSRC) recently issued an Administrative Penalty Decision against Hylink.
Reports suggest that Su Tong, along with Yang Ning, a former Vice General Manager, allegedly used 20 securities accounts to manipulate Hylink’s stock prices. The CSRC has imposed fines totaling 1.1 million dollars on the two individuals and issued a 10-year market ban.
Further reports indicate that the stock manipulation allegedly took place over a span of several months, involving coordinated trading activities to inflate share prices artificially. Industry insiders speculate that the investigation’s findings may lead to more stringent regulatory oversight within the digital advertising sector.
Hylink’s Response and Future Steps
Hylink has moved swiftly to address the allegations and restore trust among its stakeholders. The company has committed to full cooperation with regulatory authorities and has launched comprehensive internal reforms to strengthen its corporate governance. Key initiatives include the formation of a compliance task force and the implementation of enhanced oversight mechanisms to prevent future misconduct.
Hylink has also announced a series of internal reforms, including the establishment of a compliance task force and enhanced oversight mechanisms to prevent similar incidents in the future. Additionally, the company has emphasized its intention to cooperate fully with regulatory authorities and ensure that its operations align with industry standards.
The outcome of the ongoing investigation will be critical in determining Hylink’s future. As stakeholders await the final results, the company remains focused on maintaining its position in the market while upholding its core values.
