The CEO of Hong Kong-listed Best Mart 360, Hui Chi-kwan, has been arrested on suspicion of bribery, but no official charges have been filed.

The company said the arrest has no material adverse impact on its business and operations remain normal. The trading of its shares will resume after it was suspended last Friday.

Hui, 46, has been the group’s CEO since April 2015.

Cofounded by Lin Tsz-fung, Hui and Hui’s sister Hui Ngai-fan in 2013, Best Mart 360 operates 167 retail stores under its namesake brand and the FoodVille banner in Hong Kong, Macau, and Mainland China.

The company was listed on the Hong Kong Stock Exchange in January 2019. In 2023, state-owned conglomerate China Merchants Group acquired a 49 per cent stake in Best Mart 360 for HK$862 million (US$110 million).