Concord New Energy Group Limited 協合新能源集團有限公司

China Strategic bubble
We warn investors of a bubble in the stock of China Strategic, the 80% owner of the proposed buyer of Taiwan's Nan Shan Life Insurance, partly financed by a massive note issue convertible into 78bn shares at $0.10 each. We publish the placing list and analyse the names in the deal. Finally, we warn investors to avoid 7 companies in the "Chung Nam network", which has lost HK$6.2bn in 5 years. (13-Nov-2009)
Re scheme of arrangement
HK Court of First Instance, 21-Nov-2006
Re settlement with noteholders
HK Court of First Instance, 21-Sep-2005
Criticism of Company
SEHK, 24-Feb-2005
China United (0273) buys 37.5m shares (9.64%) of Hennabun Management Inc from Golden Resources (0677) for HK$72m in shares
Company announcement, 11-Mar-2004
Just prior to this deal, HMI is a hub owned by 10 listed companies, including 2 not seen in prior filings: Yugang (0613) has 20.56%, and China Investment Fund Co Ltd (0612) has acquired 2.5m shares (0.64%), probably from Golden Resources.
Breach of Listing Agreement
Company announcement, 30-Dec-2003
China United (0273) circular on connected transaction
Company circular, 24-Dec-2003
In the last 3 weeks, subsidiary Hennabun Mangement Inc has issued shares to 2 more listed companies: Heritage (0412) and Sinolink Worldwide (1168), taking the total to 8 in the hub.
Breach of Listing Agreement
Company announcement, 2-Dec-2003
China United (0273) agrees to buy shares in Radford (0901) from Hennabun Management Inc
Company announcement, 2-Dec-2003
It incidentally discloses that another listed company, Beauforte Investors (0021) has subscribed for a 9.56% stake in HMI, so it is now owned by 6 listed companies.
China United (0273) reprices subscription by Golden Resources (0677) into Hennabun Management Inc, after collapse of NAV
Company announcement, 7-Nov-2003
HMI held a 23.24% stake in Radford Capital (0901) which was a bubble stock that has now burst after the SFC intervened and found a concentration of ownership and a "very close relationship between the shareholders of [Radford] and its investments".
Golden Resources Development (0677) subscribes shares in Hennabun Management Inc, subsidary of China United (0273)
Company announcement, 15-Oct-2003
The other shareholders of HMI are China Sci-Tech (0985), Hansom Eastern (0279) and HK Pharmaceutical (0182), making this a 5-way hub.
Breach of Listing Agreement
Company announcement, 30-Sep-2003
Breach of Listing Agreement
Company announcement, 30-Jul-2003
SFC suspends Mr Tsang Chi Ming for 6 weeks
SFC, 28-Feb-2002
China United (0273) converts HK$100m note into shares of Hennabun Management Inc at $7
Company announcement, 30-Jun-2000
The note was issued on 18-May-2000. The other existing HMI shareholders are Hanny (0275) with 37.02% and NPH (0182) with 7.12%. The conversion increases CU's stake from 55.86% to 78.12%.
Criticism of certain directors for Breach of Listing Agreement
SEHK, 17-Dec-1998
Apology by Charles Chan Kwok Keung, Ken Cheung Kwok Wah & Tse Cho Tseung
17-Dec-1998
Company and certain directors v SEHK
HK Court of First Instance, 25-Aug-1998

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