Upbest Group Limited Issues Voluntary Clarification on Unauthorized Use of Its Subsidiaries’ Names
Upbest Group Limited Issues Voluntary Clarification on Unauthorized Use of Its Subsidiaries’ Names
Key Highlights for Investors:
- Upbest Group Limited (the “Company”, together with its subsidiaries, the “Group”) has issued a voluntary clarification announcement regarding the unauthorized use of the names and corporate information of its subsidiaries.
- The Company discovered that multiple websites, applications, and social media reels have been misusing the names of its subsidiaries, purporting to offer gold trading and other business activities.
- The Company denies any involvement or association with these unauthorized platforms and confirms that it has not authorized any third party to use its name, logo, or corporate information.
- Only the official website (https://upbest.com/) and authorized mobile applications of Upbest Group Limited should be trusted for authentic information.
- The Company is considering legal actions against parties involved in the unauthorized use of its corporate identity and information.
Details of the Incident
Upbest Group Limited recently received inquiries from the public about several online platforms falsely claiming affiliation with the Group. Upon investigation, the following were identified:
- Websites:
- Mobile Applications: Downloadable apps from the above websites, claiming to be associated with Upbest’s subsidiaries.
- Social Media: Reels on “Weixin” using the name Upbest Commodities Company Limited.
These unauthorized platforms have been using the names and corporate information of Upbest Bullion Company Limited (美建金業有限公司) and Upbest Commodities Company Limited (美建期貨有限公司), both of which are legitimate Hong Kong-incorporated subsidiaries of Upbest Group.
Official Response and Clarifications
- The Company emphatically states that it has no relationship, connection, or affiliation with the aforementioned websites, mobile applications, or social media content.
- It has not authorized any third party to use its name, logo, or company information on any external platform, including The Hong Kong Gold Exchange or The Chinese Gold & Silver Exchange.
- The only official website representing Upbest Group Limited is https://upbest.com/. The Company has never operated or maintained any other site as its corporate website.
- No applications have been developed, maintained, or distributed by the Group except for “Upbest Securities Company Limited” and “Upbest Commodities Company Limited”, which are only available on Google Play Store and Apple App Store.
- Any claims, communications, or representations originating from the subject websites or unauthorized platforms are irrelevant and have no connection to the Company or its subsidiaries.
Potential Impact on Shareholders and Share Price
- Shareholders and potential investors are cautioned not to rely on any information or communications from unauthorized or unofficial sources. All official information regarding the Company will be communicated through its official website and formal announcements.
- The Company is taking the matter seriously and reserves the right to pursue legal action against individuals or entities responsible for the unauthorized use of its corporate identity, which may include claims for “passing off” and other legal remedies.
- This clarification is important and may be price-sensitive, as fake websites and applications could impact investor confidence, damage the Company’s reputation, or potentially expose stakeholders to fraud. The Company’s proactive response and intention to pursue legal remedies demonstrate robust corporate governance and a commitment to protecting shareholder interests.
Board Statement and Corporate Governance
The announcement was authorized by the Board of the Company, which currently comprises a mix of non-executive, executive, and independent non-executive directors. The Company Secretary, Mr. AU-YONG Shong, Samuel, signed off on this notice on 23 February 2026.
Investor Advisory
- Shareholders and investors are urged to exercise caution and verify all Company-related information through official channels only.
- Any unauthorized information sourced from the fake platforms should be disregarded to avoid potential losses or exposure to fraudulent schemes.
Disclaimer: This article is for informational purposes only and does not constitute investment advice or a recommendation to buy or sell any securities. Investors are advised to conduct their own due diligence and consult their financial advisors before making any investment decisions. The content above is based on the official announcement made by Upbest Group Limited and is intended to provide greater detail and clarity for shareholders and the investing public.
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