GoFintech Innovation Limited 國富創新有限公司
Chairman pledges controlling stake in IBO Tech (2708) to China Fortune (0290)
Webb-site can reveal that Mr Lai Tse Ming has pledged his 55.8% stake for a HK$155m loan from a money-lender, something that neither he nor IBO Tech has disclosed. (8-Feb-2019)
Webb-site can reveal that Mr Lai Tse Ming has pledged his 55.8% stake for a HK$155m loan from a money-lender, something that neither he nor IBO Tech has disclosed. (8-Feb-2019)
China Fortune Financial (0290) lends HK$60m for 3 months at 12% p.a. secured on shares and CBs of an unnamed Listco
| Disclosure of interest
Company announcement, 29-Dec-2017
We can tell you from a disclosure of interest that the Listco is Panda Green Energy (0686) and the collaterial is equivalent to 5.29% of the existing issued shares. We don't know who owns the borrower.
Company announcement, 29-Dec-2017
We can tell you from a disclosure of interest that the Listco is Panda Green Energy (0686) and the collaterial is equivalent to 5.29% of the existing issued shares. We don't know who owns the borrower.
Credit China (8207) to sell 60.3% of China Runking Financing Group Holdings Ltd to Raymond Ting Pang Wan for HK$192.7m
| Circular
Company announcement, 26-Oct-2014
Company announcement, 26-Oct-2014
HKSAR v Hon Ming Kong, Anthony Chow Ho Tung & Kan Lai Lai Kan (aka Lai Kam Tung)
HK Court of Appeal, 14-May-2014
HK Court of Appeal, 14-May-2014
HKSAR v Hon Ming Kong, Anthony Chow Ho Tung & Kan Lai Lai Kan (aka Lai Kam Tung)
HK Court of Appeal, 28-Mar-2014
CCPHL is now China Fortune Financial (0290) and CSCP is now Asia Energy Logistics (0351). Justice Frank Stock opens with a criticism over the "extraordinary" waste of public funds in the 128-day trial, and the fact that under standard policy, the prosecution does not seek its costs upon conviction, "a policy about which taxpayers should be concerned".
HK Court of Appeal, 28-Mar-2014
CCPHL is now China Fortune Financial (0290) and CSCP is now Asia Energy Logistics (0351). Justice Frank Stock opens with a criticism over the "extraordinary" waste of public funds in the 128-day trial, and the fact that under standard policy, the prosecution does not seek its costs upon conviction, "a policy about which taxpayers should be concerned".
Credit China (8207) in Chongqing micro-finance JV with China Fortune (0290), Yam Tak Cheung and Profounders Holdings Ltd
| China Fortune announcement
Company announcement, 15-Nov-2011
The owner of Profounders Holdings Ltd is not disclosed. Credit China has 85%, Mr Yam 10% and Profounders 5%. China Fortune has a 1-year 12% Exchangeable Note from Credit China which can be swapped into 25% of the JV.
Company announcement, 15-Nov-2011
The owner of Profounders Holdings Ltd is not disclosed. Credit China has 85%, Mr Yam 10% and Profounders 5%. China Fortune has a 1-year 12% Exchangeable Note from Credit China which can be swapped into 25% of the JV.
China Fortune (0290) sells Excalibur Futures Ltd for HK$15.88m
| Circular
Company announcement, 29-Jul-2011
The owner(s) of the purchaser are not disclosed.
Company announcement, 29-Jul-2011
The owner(s) of the purchaser are not disclosed.
Ex-chairman of listed company jailed for HK$63m embezzlement and fraud
| Reasons for sentence
ICAC, 11-Jul-2011
Abba Chan Tat Chee is thereby inducted into the Webb-site Hall of Shame.
ICAC, 11-Jul-2011
Abba Chan Tat Chee is thereby inducted into the Webb-site Hall of Shame.
China Fortune (290) lends HK$150m to subscriber of Tack Hsin (0611) CB
Company announcement, 16-Mar-2011
According to a past circular from Tack Hsin, the borrower is owned by "China Nuclear Construction Group Company". The $200m CB deal was announced back on 26-Jan-2010 and has still not completed. The current deadline is 17-Mar-2011.
Company announcement, 16-Mar-2011
According to a past circular from Tack Hsin, the borrower is owned by "China Nuclear Construction Group Company". The $200m CB deal was announced back on 26-Jan-2010 and has still not completed. The current deadline is 17-Mar-2011.
China Fortune (0290) completes sale of Excalibur Securities Ltd
Company announcement, 20-Jan-2011
That took 15 months - presumably due to regulatory clearance. The owner of the BVI purchaser was not disclosed. Update: 4 days after this announcement, the broker changed its name to "Delta Wealth Securities Limited".
Company announcement, 20-Jan-2011
That took 15 months - presumably due to regulatory clearance. The owner of the BVI purchaser was not disclosed. Update: 4 days after this announcement, the broker changed its name to "Delta Wealth Securities Limited".
PME (0379) proposes bond issue convertible at 92.4% discount into 83.0% of company
Company announcement, 11-Jan-2010
Really, we're not joking...
Company announcement, 11-Jan-2010
Really, we're not joking...
Value Divergence, part 2
What's going on at Value Convergence (0821)? We list the placees in the convertible bond issue, which has been delayed, and analyse their connections to a network of other companies we have written about before. Is VC joining that network? We also look at the massive dilution that awaits shareholders of China Fortune (0290). (10-Dec-2009)
What's going on at Value Convergence (0821)? We list the placees in the convertible bond issue, which has been delayed, and analyse their connections to a network of other companies we have written about before. Is VC joining that network? We also look at the massive dilution that awaits shareholders of China Fortune (0290). (10-Dec-2009)
China Fortune (0290) aborts purchase of 70% interest in AMS Capital Ltd
Company announcement, 3-Nov-2009
Company announcement, 3-Nov-2009
China Fortune (0290) to sell Excalibur Securities Ltd for NAV+HK$5m
| Circular
Company announcement, 22-Oct-2009
CF also releases Mr Lao Chio Kuan, the original vendor, from his profit guarantees in relation to ESL. The owner of the purchaser is not disclosed.
Company announcement, 22-Oct-2009
CF also releases Mr Lao Chio Kuan, the original vendor, from his profit guarantees in relation to ESL. The owner of the purchaser is not disclosed.
Tack Hsin identifies subscriber as Mr Lee Yu Leung
Company announcement, 13-Oct-2009
We note that until 31-Oct-05 a Mr Lee Yu Leung was a director of China Fortune Group Ltd (0290), which owns the placing agent in this deal. In 2002 he was publicly reprimanded by the SFC.
Company announcement, 13-Oct-2009
We note that until 31-Oct-05 a Mr Lee Yu Leung was a director of China Fortune Group Ltd (0290), which owns the placing agent in this deal. In 2002 he was publicly reprimanded by the SFC.
Tack Hsin's secret subscriber
We look at restaurant operator Tack Hsin's moves to put itself in play, and peer again into the gaping hole in Hong Kong's Listing Rules which permits the people involved in deals with listed companies to remain anonymous. Hong Kong is building its reputation as a sunny place for shady people. (7-Oct-2009)
We look at restaurant operator Tack Hsin's moves to put itself in play, and peer again into the gaping hole in Hong Kong's Listing Rules which permits the people involved in deals with listed companies to remain anonymous. Hong Kong is building its reputation as a sunny place for shady people. (7-Oct-2009)
Value Divergence
We look at the strange events at Value Convergence (0821) where Melco (0200) is selling its controlling stake at $1.92 before a massive dilutive CB issue at $1.00, a third of which is going to China Fortune (0290). Shareholders should vote against the bond issue, and bond subscribers and their associates should be prohibited from voting any shares they hold. (21-Sep-2009)
We look at the strange events at Value Convergence (0821) where Melco (0200) is selling its controlling stake at $1.92 before a massive dilutive CB issue at $1.00, a third of which is going to China Fortune (0290). Shareholders should vote against the bond issue, and bond subscribers and their associates should be prohibited from voting any shares they hold. (21-Sep-2009)
China Public Procurement
In part 4 of our series on a network of companies, we cover China Public Procurement (1094) which has a long string of over-priced acquisitions from often-anonymous vendors, "earnest money" deposits for deals which don't happen, issues of unlisted warrants and shares for no obvious reason, and gaps in disclsoure. If you own this stock, get out while you can. (3-Jul-2009)
In part 4 of our series on a network of companies, we cover China Public Procurement (1094) which has a long string of over-priced acquisitions from often-anonymous vendors, "earnest money" deposits for deals which don't happen, issues of unlisted warrants and shares for no obvious reason, and gaps in disclsoure. If you own this stock, get out while you can. (3-Jul-2009)
Skin in the game
In part 3 of a series, we look at the often calamitous IPOs produced by B M Intelligence and its conversion into China Bio-med Regeneration Technology, involving a huge mark-up on the acquisition. We also cover an international organisation run out of a cobbler's shop in Las Vegas, and the recent changes of ownership in CBRT, including a CPPC member who is a big fan of the PLA. (23-Jun-2009)
In part 3 of a series, we look at the often calamitous IPOs produced by B M Intelligence and its conversion into China Bio-med Regeneration Technology, involving a huge mark-up on the acquisition. We also cover an international organisation run out of a cobbler's shop in Las Vegas, and the recent changes of ownership in CBRT, including a CPPC member who is a big fan of the PLA. (23-Jun-2009)
Byford bubble
Investors should beware of a bubble in Byford (8272), which boasts two celebrity shareholders - New World Development's Cheng Yu Tung and Angela Leong, a wife of casino tycoon Stanley Ho. Both apparently paid 186x net asset value for the shares. (1-Jun-2009)
Investors should beware of a bubble in Byford (8272), which boasts two celebrity shareholders - New World Development's Cheng Yu Tung and Angela Leong, a wife of casino tycoon Stanley Ho. Both apparently paid 186x net asset value for the shares. (1-Jun-2009)
China Fortune (0290) agrees to issue $32m convertible bonds to PME (0379)
| PME announcement
Company announcement, 6-May-2009
The conversion price is a 44.8% discount to market. Although PME already has a 22.32% interest in China Fortune shares, 15.21% of this is another convertible bond, so under the Listing Rules PME has only 7.11%, which is less than 10%, so this is not a connected transaction.
Company announcement, 6-May-2009
The conversion price is a 44.8% discount to market. Although PME already has a 22.32% interest in China Fortune shares, 15.21% of this is another convertible bond, so under the Listing Rules PME has only 7.11%, which is less than 10%, so this is not a connected transaction.
China Fortune (0290) to buy remaining 49% of Excalibur Securities Ltd & Excalibur Futures Ltd and 70% of AMS Capital Ltd
| Circular
Company announcement, 16-Mar-2009
Company announcement, 16-Mar-2009
PME (0379) subscribes $11.5m in China Fortune (0290) CB and buys 8m shares in market for $2.0m.
Company announcement, 24-Feb-2009
Company announcement, 24-Feb-2009
SFC prosecutes China Conservational Power (0290) under the Securities (Disclosure of Interests) Ordinance
SFC, 24-Mar-2005
SFC, 24-Mar-2005
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