China Environmental Energy Investment Limited 中國環保能源投資有限公司

Questions on Teamway (1239) and a bit of soccer
An HKEX decision last week led us to discover an inflated acquisition that looks like a cash extraction exercise, possibly to cover an earlier outlay of "earnest money". A sudden surge in profits of the acquired consultancy coincides with a Chinese takeover of troubled soccer team A.C. Milan, or Rossonori, which prints more red ink than black, and a deeply-subordinated loan to its Chairman. (22-Oct-2017)
Criticism of CEEI (0986), Chen Tong (Chairman & CEO) and Xiang Liang (ED)
SEHK, 29-Sep-2017
CEEI is in what we call the "Enigma Network". When the investment in Luen Wong (8217) was announced, Webb-site called it a bubble stock trading on a P/B of 321 and a P/E of 861. CEEI said the deal was "fair and reasonable", "a good investment opportunity" and "an attractive investment which will provide satisfactory return". It subsequently crashed, of course. We pointed out the breach of the Listing Rules, for which the company and its directors have now been criticised by the Listing Committee. There was no criticism of the bullish statements made by the CEEI board about Luen Wong.
CEEI (0986) dumps Luen Wong (8217) on day 2 of Enigma Network meltdown
Company announcement, 29-Jun-2017
Proceeds were $18.66m, or $1.046 per share. CEEI bought the shares on 20-Jul-2016 at an average $6.977 per share. At the time, CEEI said that Luen Wong was "a good investment opportunity" and "an attractive investment which will provide satisfactory return". As we said at the time, the Price/Book ratio was 321 and the P/E was 861. How could any reasonable board make such statements?
The Enigma Network: 50 stocks not to own
Sometimes, all you need to tell a story is a picture. (15-May-2017)
Keeping the faith (even after a 99% wipeout) for shareholders
Bloomberg, 7-Dec-2016
CEEI (0986) buys shares in GCPS (8193), sells shares in Suncorp (1063)
Company announcement, 19-Oct-2016
CEEI (0986) sells China Jicheng (1027), buys Luen Wong (8217)
Company announcement, 18-Aug-2016
What it doesn't say: CEEI has breached Listing Rules by failing to obtain shareholders' approval in advance of Major Transactions and by failing to announce them for 4 weeks. Each stock is the subject of SFC concentration warnings. We calculate that the purchase of Luen Wong shares is at a P/B of 321 and a P/E of 861. CEEI says the deal is "fair and reasonable", "a good investment opportunity" and "an attractive investment which will provide satisfactory return".
CEEI (0986) buys 1.29% of WLS (8021) for HK$51.2m
Company announcement, 25-Jul-2016
CEEI (0986) sells 145m shares (1.14%) of WLS for HK$46.5m
Company announcement, 4-Mar-2016
China Env Energy (0986) sells 15.45m shares in China Jicheng (1027) umbrella bubble
Company announcement, 22-Jan-2016
China Env Energy (0986) sells 21.545m shares in China Jicheng (1027) umbrella bubble
Company announcement, 19-Jan-2016
CEEI (0986) to buy STI Securities & Wealth Management Ltd
Company announcement, 16-Nov-2015
The price for the firm is HK$13m plus NAV.
Lerado's umbrellas and open offer
At last, Lerado (1225) admits that it holds 2% of the China Jicheng (1027) umbrella bubble, still worth HK$561m, which is more than it proposes to raise in an abusive, deep-discount open offer. The circular fails to say why they don't just sell the CJ shares instead. We call on shareholders to save themselves and vote against. (27-Oct-2015)
China Environmental Energy (0986) begins money-lending business
Company announcement, 16-Oct-2015
The vedor was later named as Mr Wan Tak Choi and the price was HK$1m.
CAID (0048) gains from umbrella bubble
Following a Webb-site complaint to regulators, CAID has revealed 3 holdings, including umbrella maker China Jicheng (1027), still trading at over 70x NAV. CAID expects the investments to contribute a positive return in the near future, but doesn't say why. Meanwhile Lerado (1225) hasn't said how it made similar gains. Is it also in the umbrella bubble? (10-Oct-2015)
Bubbles and troubles in Hong Kong
Pour yourself a coffee and digest this long article as we investigate several ongoing abusive "open offers" and placings as well as show you who's been making out in multi-billion-dollar bubbles. We call on regulators and rule-makers to take action. (24-Sep-2015)
China Env Energy (0986): results reveal 2.11% stake in Jicheng (1027)
Company announcement, 30-Jun-2015
The 12.67m shares were purchased in the IPO at $1.10, before the 25:1 stock split, which converts to 316.75m shares at $0.044.
China Env Energy (0986) pays HK$113m for 1.73% of L & A (8195)
Company announcement, 12-May-2015
The average price per share was $1.62. At 31-Dec-2014, L & A had equity of $136.73m, or $0.034 per share. So the price is about 48x book value of the OEM cashmere clothing maker. In our view, China Env Energy has just invested in another bubble, following its investment in Suncorp (1063). The question is, why?
China Env Energy (0986) buys 5.13% of GreaterChina Professional Services (8193)
Disclosure of interest, 12-May-2015
China Env Energy (0986) pays HK$61.5m for 51m shares (0.337%) of Suncorp (1063) @$1.205
Company announcement, 17-Apr-2015
WLS (8021) completes placing via Tanrich Securities @$0.30CCASS movements
Company announcement, 27-Mar-2015
63m of the 540m shares went to China Environmental Energy (0986)
China Environmental Energy (0986) subscribes 63m shares (9.9%) of WLS (8021) for HK$18.9m
Company announcement, 18-Mar-2015
China Env Energy (0986) to invest in "quality stock and other financial products"
Company announcement, 12-Mar-2015
So don't say you weren't warned!
China Environmental Energy (0986) buys 9.9% of Starfame Investments Ltd for HK$30m
Company announcement, 12-May-2014
The vendor is Main Global Group Ltd, the owner of which is not disclosed. It had previously tried to sell the whole of Starfame to China Properties Investment (0736).
China Properties Inv (0736) terminates MoU for acquisition of Pure Power Holdings Ltd
Company announcement, 30-Jan-2014
CPI had already paid US$19m (HK$148.2m) cash deposit in 2010. The vendor is not returning that, but is giving them HK$25m plus HK$123.2m of promissory notes issued by CEEI (0986) which it recieved in return for selling 10% of the same target to CEEI, namely Pure Power Holdings Ltd, 6 days ago.
China Environmental Energy (0986) buys 10% of Pure Power Holdings Ltd for HK$125m
Company announcement, 24-Jan-2014
...of which HK$123.2m is in promissory notes.
Pacific Plywood (0767) grants options over CBs in China Env Energy (0986) to Mr Jiang Jianhui
Company announcement, 12-Oct-2012
China Environmental Energy (0986): breach of Listing Rules: late results
Company announcement, 29-Jun-2012
Nam Hing (0986): breach of Listing Rules: late results
Company announcement, 31-Aug-2010
Nam Hing: breach of Listing Rules: late results
Company announcement, 30-Jul-2010
Market manipulator Cheng Ngai given suspended jail sentence & fined HK$30k
SFC, 26-Jul-2007

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