SOUND GLOBAL LTD. 桑德國際有限公司
Court orders Sound Global (ex-0967) chairman Wen Yibo to purchase shares from investors
| Judgment
SFC, 6-Oct-2022
This is the first compensation order of its kind, and hopefully there will be more. 3 other defendants are in the mainland and the SFC has been unable to serve the Petition on them, so the SFC proceeded to trial against Mr Wen and the company alone. Mr Wen's scheme grossly inflated bank balances by RMB 2.72bn, equivalent to 89% of net assets in the 2013 annual report. The buy-out price will be determined at another hearing. Whether he has any assets in HK to honour the order is another matter.
SFC, 6-Oct-2022
This is the first compensation order of its kind, and hopefully there will be more. 3 other defendants are in the mainland and the SFC has been unable to serve the Petition on them, so the SFC proceeded to trial against Mr Wen and the company alone. Mr Wen's scheme grossly inflated bank balances by RMB 2.72bn, equivalent to 89% of net assets in the 2013 annual report. The buy-out price will be determined at another hearing. Whether he has any assets in HK to honour the order is another matter.
Listing Committee censures Zhang Jing Zhi…
| and Jiang An Ping, both ex-Sound Global (0967)
SEHK, 3-May-2018
Once again, HKEX is unable to reach former directors of a listed company to co-operate with an investigation. HKEX's regulatory function should be transferred to the SFC, which co-operates with the CSRC.
SEHK, 3-May-2018
Once again, HKEX is unable to reach former directors of a listed company to co-operate with an investigation. HKEX's regulatory function should be transferred to the SFC, which co-operates with the CSRC.
Listing Committee censures Mr Wang Kai, ex-ED of Sound Global (0967)
SEHK, 25-Oct-2017
For failing to co-operate with an investigation.
SEHK, 25-Oct-2017
For failing to co-operate with an investigation.
Sound Global (0967) accidentally loses financial documents
Company announcement, 19-Jun-2017
How unfortunate. The company says an accident occurred when the documents were being transported to a new file storage facility. The company has been under investigation and suspended by the SFC since Apr-2016. A similar thing happened to China Animal Healthcare (0940) on 4-Dec-2015, while it was suspended and under forensic investigation. A truck loaded with 4 years of financial documents was stolen while the driver was on his lunch break.
Company announcement, 19-Jun-2017
How unfortunate. The company says an accident occurred when the documents were being transported to a new file storage facility. The company has been under investigation and suspended by the SFC since Apr-2016. A similar thing happened to China Animal Healthcare (0940) on 4-Dec-2015, while it was suspended and under forensic investigation. A truck loaded with 4 years of financial documents was stolen while the driver was on his lunch break.
SFC directs suspension of Sound Global (0967)
Company announcement, 13-Apr-2016
This is very unusual and comes less than 3 months after the Stock Exchange allowed trading to resume. The last time the SFC suspended a stock was China High Precision Automation (0591) on 22-Aug-2012, which remains suspended for unknown reasons. The SFC should explain why, or require the company to do so.
Company announcement, 13-Apr-2016
This is very unusual and comes less than 3 months after the Stock Exchange allowed trading to resume. The last time the SFC suspended a stock was China High Precision Automation (0591) on 22-Aug-2012, which remains suspended for unknown reasons. The SFC should explain why, or require the company to do so.
Sound Global (0967): Deloitte quits as auditor over "scope of governance response"
Company announcement, 22-Jul-2015
And HLB Hodgson Impey Cheng takes over.
Company announcement, 22-Jul-2015
And HLB Hodgson Impey Cheng takes over.
Sound Global (0967): RMB2bn shortfall was "earnest money"
Company announcement, 24-Jun-2015
And they earnestly expect us to believe that the Chairman's private company paid the cash it took to unnamed "sellers" of two potential acquisitions, and has now returned it and arranged its own funding.
Company announcement, 24-Jun-2015
And they earnestly expect us to believe that the Chairman's private company paid the cash it took to unnamed "sellers" of two potential acquisitions, and has now returned it and arranged its own funding.
Sound Global (0967): RMB2bn shortfall in cash balances at 31-Dec-2014
Company announcement, 29-Apr-2015
Company announcement, 29-Apr-2015
Sound Global (0967): controller pledges 3.9%-7.2% to Far Eastern International Bank
Company announcement, 3-Sep-2013
Company announcement, 3-Sep-2013
Sound Global (0967): controller pledges 22.3% to CCB for US$50m loan
Company announcement, 5-Jul-2013
Singapore Listing Rules provide better disclosure than HK, where pledges are not required to be disclosed.
Company announcement, 5-Jul-2013
Singapore Listing Rules provide better disclosure than HK, where pledges are not required to be disclosed.
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