News

Donre Advisory Limited enters liquidation
UK Financial Conduct Authority, 16-Jul-2024
A UK piece of the jigsaw owned by HK-based Brite Advisory Group.
Sanctions against Li Tian Hai, ex-ED of China Ruifeng Renewable Energy (0527)
SEHK, 11-Jul-2024
For failing to co-operate with an investigation.
Eagle Nice (2368): breach of Listing Rules on connected transactions with Li Ning (2331)
Company announcement, 10-Jul-2024
The announcement reveals rapid growth in the last 6 years of sales to Li Ning, now the second-largest customer. As Li Ning owns 20% of a subsidiary of Eagle Nice, these transactions should have been disclosed.
Concentration warning in LC Logistics (2490)
SFC, 9-Jul-2024
21 holders have 99.5% of the stock.
Censure of Guo Songsen, ex-NED of Green Future Food Hydrocolloid Marine Science (1084)
SEHK, 4-Jul-2024
For dealing in the shares during the pre-results blackout period in early 2022 and 2023, and failing to disclose the dealings. We note that the corresponding filings under the Securities and Futures Ordinance were not filed until 20-Jul-2023.
Hedge fund manager Jonathan Iu ordered to disgorge HK$5.6m profit from false trading, disqualified for 4 yearsMMT report
SFC, 3-Jul-2024
Not in the press release: the profit was in his Mum's account, with no evidence that it flowed back to Mr Iu. The SFC submitted that the MMT could not order disgorgement against Iu as this would be a criminal penalty in a civil case, but MMT Chair Ian McWalters ruled that the law allows it. Iu is now in the UK and claims poverty, so will likely never pay. The MMT is highly critical of the nearly 10-year timeframe for concluding the case, and lays out the internal procedure in detail.
PECS Register monthly update
HK Government, 30-Jun-2024
What have ex-senior civil servants been up to?
Criticism of Orient Victory Smart Urban Services (0265) and Chairman Shi Baodong
SEHK, 25-Jun-2024
They failed to disclose that Mr Shi's private company was offering a free share for every share subscribed by employees and others in 2 top-up placings under the general issue mandate.
Mr Wong Ming Chung convicted for paid investment advice on Telegram chat group without licence
SFC, 20-Jun-2024
Mr Wong also works for an unnamed broker, which Webb-site data indicate is Tse's Securities Ltd, since 2010, but he wasn't operating the Telegram group on their behalf. He is fined HK$10k after pleading guilty. We don't know how much he made from the group.
SFC suspends Shum Wai Nap, ex-PICC (1339), for 7 months for failures in managing a private fundStatement of Disciplinary Action
SFC, 20-Jun-2024
As Webb-site noted when PICC was fined on 5-Feb-2024, the manager known only as "S" must have been Shum Wai Nap. In 2020 he moved from PICC to Tianda Asset Management Ltd, but ceased to be licensed there on 24-Apr-2024.
Concentration warning in Changjiu (6959)
SFC, 19-Jun-2024
The top 11 holders have 98.31% of the stock.
Sanction of 4 ex-directors of Enviro Energy (1102)
SEHK, 17-Jun-2024
Including undisclosed connected transactions, being loans and guarantees which benefitted the then-Chairman and the CEO, and an undisclosed criminal prosecution in Shenzhen of the then-Chairman.
SFC bans Ha Po Kwan, ex-Primas Asset Management Ltd, for 12 monthsStatement of Disciplinary Action
SFC, 17-Jun-2024
For doctoring product sheets for Credit Suisse accumulator contracts (yes, those are still a thing).
Insider dealing case against Segantii Capital Management and its chief investment officer transferred to District Court
SFC, 12-Jun-2024
Simon Sadler and Daniel La Rocca could now face up to 7 years in jail if found guilty, although a much lower sentence would be in line with precedent. This time, the SFC names the stock - something that journalists had to find out by trekking to the High Court Registry for a hard copy of the summons, as in this FinTech hub, the SFC's filings and court filings in general are still offline.
Censure of China Haisheng Juice (ex-0359) and 5 directors
SEHK, 6-Jun-2024
For completing a major disposal without obtaining shareholders' approval.
SFC cooperates with BCSC in obtaining preservation orders against Anita Maria Leung Fung Yee in British Columbia, Canada
SFC, 5-Jun-2024
The SFC alleges that she and late husband/ex-legislator Philip Wong Yu Hong used BVI companies and nominee shareholders to sell overvalued TV series licence rights to SMI Culture & Travel (ex-2366).
PECS Register monthly update
HK Government, 31-May-2024
What have retired senior HK civil servants been getting up to this month?

Our stories

Help maintain the Webb-site Database
We are commencing the transition of the Webb-site Database to a crowd-sourced model. Whether it survives our Founder's doom depends on whether you, the users, are willing to volunteer your time, in a "Webbipedia" crowd-sourcing of corporate data. So please get involved, and you may get a free lunch at the end of the year. (19-May-2024)
The HK budget supercomputer hallucination
According to Paul Chan's budget speech, at undisclosed taxpayer expense, HK is supposed to produce a machine 3 times more powerful than the world's current fastest, within 2 years, and without using the best chips which were banned by the USA from export to HK following imposition of the National Security Law on HK. (2-Mar-2024)
HK's Rates reforms: damage to property values, needless complexity and misdirected handouts
It's not too late for the Government to return to fiscal sanity with a simple Rates system rather than practice the populist politics of petty envy. (30-Jan-2024)
Breaking: HK Government withholds Task Force report, citing threat to financial markets stability
We asked for the report. They refused. Now we're really wondering what's in it. (29-Jan-2024)
Hong Kong Island, major vehicle exporter?
Transport Department data suggest that HK Island exported a net 1.25m vehicles in 2022, more than are on the roads in the SAR, and the Island is on track to beat that in 2023. Take a look at the data and tell us why! (9-Dec-2023)
At last, the Webb-site HKSAR Accounts Explorer
In honour of the 25th anniversary of the SAR, a new tool to deep-dive into its financial history. This may be our last major project, but we hope you will agree that it was worth the time. (14-Jun-2022)
HK is running out of time to re-join the World
As our Editor sits in the air-lock waiting to re-enter HK, he looks at the now-unconstitutional quarantine regulations and the harm they are doing to HK. (5-May-2022)
A manifesto for Hong Kong
If you're going to be Chief Executive and you don't have a manifesto or any policy expertise beyond Security, Webb-site is here to help! (13-Apr-2022)
Employment Support Scheme: the final outcome
After information requests by Webb-site, we reveal that HK's largest ever corporate handout went over-budget by about HK$10bn to a final tally of HK$90.5bn (US$11.6bn) plus costs. We produce a final list of approved claims. (13-Feb-2022)
Yorkey (2788): a successful outcome
Webb-site recommends shareholders to vote in favour of the increased offer, as founder David Webb has undertaken to do. Here's the background to our decision. (20-Jan-2022)
Joining the dots on the ICAC case against Chim Pui Chung and others
The ex-legislator is once again facing criminal charges, this time with his son and others. We examine the past connections between the defendants and the connection between an alleged co-conspirator and one of the subscribers of convertible notes, who has not been charged. (21-Nov-2021)

Other news

Donre Advisory Limited enters liquidation
UK Financial Conduct Authority, 16-Jul-2024
A UK piece of the jigsaw owned by HK-based Brite Advisory Group.
Sanctions against Li Tian Hai, ex-ED of China Ruifeng Renewable Energy (0527)
SEHK, 11-Jul-2024
For failing to co-operate with an investigation.
Eagle Nice (2368): breach of Listing Rules on connected transactions with Li Ning (2331)
Company announcement, 10-Jul-2024
The announcement reveals rapid growth in the last 6 years of sales to Li Ning, now the second-largest customer. As Li Ning owns 20% of a subsidiary of Eagle Nice, these transactions should have been disclosed.
Concentration warning in LC Logistics (2490)
SFC, 9-Jul-2024
21 holders have 99.5% of the stock.
Censure of Guo Songsen, ex-NED of Green Future Food Hydrocolloid Marine Science (1084)
SEHK, 4-Jul-2024
For dealing in the shares during the pre-results blackout period in early 2022 and 2023, and failing to disclose the dealings. We note that the corresponding filings under the Securities and Futures Ordinance were not filed until 20-Jul-2023.
Hedge fund manager Jonathan Iu ordered to disgorge HK$5.6m profit from false trading, disqualified for 4 yearsMMT report
SFC, 3-Jul-2024
Not in the press release: the profit was in his Mum's account, with no evidence that it flowed back to Mr Iu. The SFC submitted that the MMT could not order disgorgement against Iu as this would be a criminal penalty in a civil case, but MMT Chair Ian McWalters ruled that the law allows it. Iu is now in the UK and claims poverty, so will likely never pay. The MMT is highly critical of the nearly 10-year timeframe for concluding the case, and lays out the internal procedure in detail.
PECS Register monthly update
HK Government, 30-Jun-2024
What have ex-senior civil servants been up to?
Criticism of Orient Victory Smart Urban Services (0265) and Chairman Shi Baodong
SEHK, 25-Jun-2024
They failed to disclose that Mr Shi's private company was offering a free share for every share subscribed by employees and others in 2 top-up placings under the general issue mandate.
Mr Wong Ming Chung convicted for paid investment advice on Telegram chat group without licence
SFC, 20-Jun-2024
Mr Wong also works for an unnamed broker, which Webb-site data indicate is Tse's Securities Ltd, since 2010, but he wasn't operating the Telegram group on their behalf. He is fined HK$10k after pleading guilty. We don't know how much he made from the group.
SFC suspends Shum Wai Nap, ex-PICC (1339), for 7 months for failures in managing a private fundStatement of Disciplinary Action
SFC, 20-Jun-2024
As Webb-site noted when PICC was fined on 5-Feb-2024, the manager known only as "S" must have been Shum Wai Nap. In 2020 he moved from PICC to Tianda Asset Management Ltd, but ceased to be licensed there on 24-Apr-2024.
Concentration warning in Changjiu (6959)
SFC, 19-Jun-2024
The top 11 holders have 98.31% of the stock.
Previously on Webb-site.com
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