If you subscribed for our newsletter via Yahoo, please note they are currently blocking our new server. Consider better providers.

News

Concentration warning in Satu (8392)
Company announcement, 11-Dec-2017
The top 20 holders have 95.481%.
Chairman Li Xiaoxuan deposits 35.09% of New Higher Edu (2001) with CCB
Webb-site.com, 9-Dec-2017
The stock was listed on 19-Apr-2017 after an IPO at $2.78 per share. If Mr Li has pledged his controlling shareholding within 12 months of the listing then the company would need to announce that.
Court dismisses challenge to SFC's search warrant and provision of information to CSRC
SFC, 8-Dec-2017
We attach the judgment, which provides a rare look inside the Enforcement Division of the SFC and how it investigates cases. Requests from the CSRC involved the first investigation of alleged manipulation under the Stock Connect scheme with Shanghai, for which Mr Tang Hanbo was convicted on the mainland on 2-Mar-2017 and fines totalling RMB1.2bn were imposed. Mr Tang is a HK resident. The SFC had earlier commenced investigations in separate cases in HK, and the search warrant was obtained for those, without mentioning any co-operation with the CSRC.
ICAC response statement
ICAC, 7-Dec-2017
This confirms that the ICAC and the SFC are working together and searched 8 premises. The ICAC has arrested 3 listed company executives for suspected corruption. Comment: these are likely further steps in the investigation of the "Enigma Network" that Webb-site revealed last May.
SFC suspends Town Health (3886)
SEHK, 27-Nov-2017
That's 2 today, and 5 of the 50 stocks in our "Enigma Network" are now suspended by the SFC. Town Health is the biggest yet, with a market cap of HK$5.19bn. It is a member of the Hang Seng Mid-Cap Index.
SFC suspends China Wah Yan Healthcare (0648)
SEHK, 27-Nov-2017
Another member of the Enigma Network. 4 of the 50 stocks have now been suspended by the SFC. This follows First Credit Finance (8215) on 24-Nov-2017, New Ray Medicine (6108) on 6-Oct-2017 and Lerado (1225) on 6-Jun-2017.
Submission on Capital Raisings by Listed Issuers
Webb-site.com, 24-Nov-2017
Webb-site responds to HKEX's consultation which, while positive, ignores several key issues and does not go far enough in others. Have your say!
SFC fines Danny Fung Kwong Shing, bans him forever
SFC, 23-Nov-2017
The former executive at Fulbright Securities caused his client HK$2.6m of loss by faking his orders.
Ex-Midland Realty agent guilty of bribery and fraud
ICAC, 21-Nov-2017
Willis Chiu Wai Lap (S-142282) was most recently a salesperson with Qfang Network (Hong Kong) Agency Ltd.

Our stories

Chairman Li Xiaoxuan deposits 35.09% of New Higher Edu (2001) with CCB
The stock was listed on 19-Apr-2017 after an IPO at $2.78 per share. If Mr Li has pledged his controlling shareholding within 12 months of the listing then the company would need to announce that. (9-Dec-2017)
Submission on Capital Raisings by Listed Issuers
Webb-site responds to HKEX's consultation which, while positive, ignores several key issues and does not go far enough in others. Have your say! (24-Nov-2017)
If only INEDs were independent
David Webb will be speaking at a conference in HK today. These are his slides, on the most fundamental issue in HK corporate governance. (10-Nov-2017)
The CE's damaging tax proposals: a better approach
The Government proposes distortive gimmicks and loopholes rather than addressing structural issues. Public expenditure has grown faster than GDP, breaching the Basic Law. Revenues have grown even faster, draining capital from the economy. Time to return it. A flat rate of 10% for Profits Tax and Salaries Tax is entirely affordable. What is R&D anyway? New armies of tax consultants and assessors do not make our economy more productive. (24-Oct-2017)
One Board, One Regulator
We respond to HKEX's 2nd attempt to introduce 2nd-class shares via a "New Board", rather than cleaning up its existing boards and transferring listing regulation to the statutory regulator which oversees takeovers, the SFC. Coupled with recent moves to embed the Communist Party in the constitutions of state-controlled enterprises, HK and China risk a toxic combination of no votes for government and no votes for capital, leading to an emerging tycoon-Communist Party oligarchy. We propose a better approach. (7-Aug-2017)
Controlling shareholding of Enterprise Dev (1808) on the move
Webb-site CCASS Analysis shows that 203,854,292 shares (38.73%) of Enterprise Dev have moved from the custody of Kingston Securities Ltd to Taiping Securities (HK) Co Ltd, a subsidiary of China Taiping Insurance (0966). These shares are owned by Rentian (0885) which is controlled by Mr King Pak Fu.Such a move may indicate a pledging of the shares as security for a loan. (31-Jul-2017)
Rebuilding free markets in HK
These slides are from a presentation by David Webb today, on how HK's free markets have eroded during the 20 years since the Handover, and what HK can do to recover its dynamism. (16-Jun-2017)
AAC (2018) announcement seems familiar
AAC, in a rather desperate move, has announced a "strategic cooperation agreement" with CITIC Bank. Where have we seen that before? (9-Jun-2017)
The Enigma Network: 50 stocks not to own
Sometimes, all you need to tell a story is a picture. (15-May-2017)

Other news

Concentration warning in Satu (8392)
Company announcement, 11-Dec-2017
The top 20 holders have 95.481%.
Court dismisses challenge to SFC's search warrant and provision of information to CSRC
SFC, 8-Dec-2017
We attach the judgment, which provides a rare look inside the Enforcement Division of the SFC and how it investigates cases. Requests from the CSRC involved the first investigation of alleged manipulation under the Stock Connect scheme with Shanghai, for which Mr Tang Hanbo was convicted on the mainland on 2-Mar-2017 and fines totalling RMB1.2bn were imposed. Mr Tang is a HK resident. The SFC had earlier commenced investigations in separate cases in HK, and the search warrant was obtained for those, without mentioning any co-operation with the CSRC.
ICAC response statement
ICAC, 7-Dec-2017
This confirms that the ICAC and the SFC are working together and searched 8 premises. The ICAC has arrested 3 listed company executives for suspected corruption. Comment: these are likely further steps in the investigation of the "Enigma Network" that Webb-site revealed last May.
SFC suspends Town Health (3886)
SEHK, 27-Nov-2017
That's 2 today, and 5 of the 50 stocks in our "Enigma Network" are now suspended by the SFC. Town Health is the biggest yet, with a market cap of HK$5.19bn. It is a member of the Hang Seng Mid-Cap Index.
SFC suspends China Wah Yan Healthcare (0648)
SEHK, 27-Nov-2017
Another member of the Enigma Network. 4 of the 50 stocks have now been suspended by the SFC. This follows First Credit Finance (8215) on 24-Nov-2017, New Ray Medicine (6108) on 6-Oct-2017 and Lerado (1225) on 6-Jun-2017.
SFC fines Danny Fung Kwong Shing, bans him forever
SFC, 23-Nov-2017
The former executive at Fulbright Securities caused his client HK$2.6m of loss by faking his orders.
Previously on Webb-site.com
Check out our full list of articles in the archive, since our launch in 1998.

Sign up for our free newsletter

Recommend Webb-site to a friend

Copyright & disclaimer, Privacy policy

Back to top