Hao Tian Finance Company Limited 昊天財務有限公司
Hao Tian (0474) buys back 16.53% minority in Hao Tian Finance for HK$200m in new shares at $0.25
| Circular
Company announcement, 8-Jul-2019
They fail to say who owns the vendor, which will receive 13.15% of the enlarged shares of Hao Tian. The subsequent circular reveals it to be owned 50% by Huang Tao, 40% by Huang Shi Ying and 10% by Wong Yu Fong. We know that Huang Tao and Huang Shi Ying are sons of property developer Mr Huang Rulun, who previously held 60%.
Company announcement, 8-Jul-2019
They fail to say who owns the vendor, which will receive 13.15% of the enlarged shares of Hao Tian. The subsequent circular reveals it to be owned 50% by Huang Tao, 40% by Huang Shi Ying and 10% by Wong Yu Fong. We know that Huang Tao and Huang Shi Ying are sons of property developer Mr Huang Rulun, who previously held 60%.
Hao Tian (0474): Prosperity (0803) exercises put option to return its stake in Hao Tian Finance for HK$115m
| Prosperity announcement
Company announcement, 9-Apr-2018
The put option was exercisable because HTF did not obtain a listing for its shares.
Company announcement, 9-Apr-2018
The put option was exercisable because HTF did not obtain a listing for its shares.
Joint Global Ltd joint venture agreement dated 15-Sep-2015
Company filing, 7-Jun-2017
Thanks to the SFC's Takeovers Code, this agreement has been published online by CMBC Capital Holdings Ltd (1141), one of the 11 entities in what we call the "Chung Nam Network" which pooled their shares in HEC Capital Ltd into Joint Global Ltd, which then imploded like a black hole. It relates to our story "The Joint Global implosion", 30-Sep-2016.
Company filing, 7-Jun-2017
Thanks to the SFC's Takeovers Code, this agreement has been published online by CMBC Capital Holdings Ltd (1141), one of the 11 entities in what we call the "Chung Nam Network" which pooled their shares in HEC Capital Ltd into Joint Global Ltd, which then imploded like a black hole. It relates to our story "The Joint Global implosion", 30-Sep-2016.
China Innovative Finance (0412) bubble
Hao Tian Development (0474) has confirmed our view by dumping 9.06% of CIFG at a 61.9% discount, still well above the net tangible asset value of $0.099. CIFG should trade below NTAV due to its appalling governance and membership of what we call the "Chung Nam Network". The purported profits of its leasing division are largely illusory and depend heavily on 1 customer in which CIFG has invested. HTD has also been allowed by HKEX to skirt the Listing Rules on corporate transactions. (26-Sep-2016)
Hao Tian Development (0474) has confirmed our view by dumping 9.06% of CIFG at a 61.9% discount, still well above the net tangible asset value of $0.099. CIFG should trade below NTAV due to its appalling governance and membership of what we call the "Chung Nam Network". The purported profits of its leasing division are largely illusory and depend heavily on 1 customer in which CIFG has invested. HTD has also been allowed by HKEX to skirt the Listing Rules on corporate transactions. (26-Sep-2016)
Hao Tian (0474) to issue US$30m 9% notes secured on 550m shares (3.24%) of Heritage (0412)
| Disclosure of interest
Company announcement, 7-Jul-2015
The subscriber is Sea Venture Investments Ltd (BVI), the owner of which is not disclosed. The subscriber also gets an option to purchase 80,729,170 Heritage shares at HK$1.44 (equal to US$15m at an exchange rate of USD=HKD7.75) and warrants to subscribe shares of Hao Tian Finance Co Ltd, a partial subsidiary, for up to US$15m at NAV. Update from disclosure of interest: the subscriber is ultimately owned by China Construction Bank (0939).
Company announcement, 7-Jul-2015
The subscriber is Sea Venture Investments Ltd (BVI), the owner of which is not disclosed. The subscriber also gets an option to purchase 80,729,170 Heritage shares at HK$1.44 (equal to US$15m at an exchange rate of USD=HKD7.75) and warrants to subscribe shares of Hao Tian Finance Co Ltd, a partial subsidiary, for up to US$15m at NAV. Update from disclosure of interest: the subscriber is ultimately owned by China Construction Bank (0939).
Hao Tian (0474): dilution of interest in Hao Tian Finance
Company announcement, 28-Apr-2015
The announcement fails to say who owns the subscriber, Century Golden Resources Investment Co. Ltd.. We can tell you it is 60% owned by Mr Huang Rulun. It also owns a 13% stake in Heritage (0412), another member of what we call the "Chung Nam Network".
Company announcement, 28-Apr-2015
The announcement fails to say who owns the subscriber, Century Golden Resources Investment Co. Ltd.. We can tell you it is 60% owned by Mr Huang Rulun. It also owns a 13% stake in Heritage (0412), another member of what we call the "Chung Nam Network".
Prosperity (0803) to pay HK$100m for 10% of Hao Tian Finance Co Ltd
| Hao Tian announcement
Company announcement, 9-Apr-2015
Prosperity may be about to enter what we call the "Chung Nam Network", of which Hao Tian (0474) is a member.
Company announcement, 9-Apr-2015
Prosperity may be about to enter what we call the "Chung Nam Network", of which Hao Tian (0474) is a member.
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