Sanctions against 2 more executive directors of Inno-Tech (ex-8202)
SEHK, 12-Jan-2023
For failure to co-operate with an investigation by the for-profit, toothless regulator. Increasingly, that seems to be the most popular response amongst directors of failed companies as they have no realistic prospect of returning to the HK market. By the way, Webb-site warned investors about this stock 11 years ago.
Sanction of 3 ex-directors of Inno-Tech (ex-8202)
Company announcement, 5-Aug-2022
Although these were more recent directors, Webb-site first warned investors about this company over 10 years ago.
Censure of Mr Ha Chuen Yeung, ex-ED of Inno-Tech (8202)
SEHK, 8-Feb-2021
For failing to co-operate with a Stock Exchange investigation.
HKICPA bans Ms Wong On Yee for 1 year, fines her and CWC CPA Ltd HK$200k jointly
HKICPA, 12-Oct-2020
For bad audit work on W. Falcon Asset Management (Asia) Ltd, which was window-dressing its liquid capital SFC filings. We note that she was once an INED and Chair of the audit committee of Inno-Tech (8202) which featured often in our articles.
SFC obtains DQ orders against ex-EDs of Inno-Tech (8202)Raking muck, Part 4
SFC, 4-Oct-2019
For breaching their duties in hotel acquisitions, amongst transactions covered in our "Raking Muck, Part 4" article of 2012. Incidentally, the owner of the BVI vendor has still not been disclosed.
41 endangered stocks
If HKEX proceeds with an ill-conceived Listing Rule change, companies with disclaimed audit reports for 2019 will be suspended and likely delisted, victimising minority shareholders. We now list those with disclaimed audits up to 30-Jun-2018 which would be affected if the rule applied today. Make your submission to stop this nonsense! (17-Nov-2018)
Censure of Inno-Tech (8202), Michael Ang Wing Fung and several other directors
SEHK, 12-Sep-2018
Mr Ang was previously censured on 27-Jul-2017 for failing to cooperate with the investigation.
Penta Investment Advisers Ltd v Allied Weli Development Ltd
HK Court of Appeal, 28-Aug-2017
The person funding Allied Weli's appeal is revealed as one Lee Kuo Juy. That person is also a substantial shareholder of Inno-Tech (8202).
GEM Listing Committee censures Mr Ang Wing Fung, ex-Inno-Tech (8202)
SEHK, 27-Jul-2017
Union Asia (8173) coughs up details of investments at 30-Sep-2016
Company announcement, 17-Nov-2016
This follows a Webb-site complaint to HKEX on 14-Nov-2016 and reveals sub-5% holdings in eForce (0943), Trillion Grand (8103), Inno-Tech (8202) and Celebrate (8212), amongst others.
SFC seeks orders against ex-directors of Inno-Tech (8202)Raking muck, Part 4
SFC, 9-Mar-2015
3 years after our article urged the SFC to investigate, we see some action. One of the defendants, Robert Wong Yao Wing, is also a member of the HK Government's Women's Commission.
Lim Yi Shenn v Wong Yuen Yee, Robert Wong Yao Wing & Inno-Tech (8202)
HK Court of First Instance, 29-Jan-2015
Lim Yi Shenn v Wong Yuen Yee, Robert Wong Yao Wing & Inno-Tech (8202)
HK Court of First Instance, 5-Dec-2012
Lim Yi Shenn v Wong Yuen Yee, Robert Wong Yao Wing & Inno-Tech (8202)
HK Court of First Instance, 31-May-2012
Raking muck, Part 4
We take a deeper dive into the transactions of Inno-Tech (8202), and call on the SFC to investigate. We also call on the regulators either to scrap the requirement for "independent" financial advisers in listed company deals, or make it work by randomly assigning them through a jury pool system. The current system of opinion-shopping to IFAs of Last Resort is a waste of investors' money and provides false comfort. (7-Mar-2012)
Raking muck, Part 3
We now connect Joseph Lau to Executive Talent, and focus on a series of dubious transactions by Hycomm and the bubble in its stock while it did the coal mine hokey cokey, from which bubble Joseph Lau has profited hugely. We also look at the creation of Inno-Tech and the youngest infant mortality on GEM, Codebank. (5-Mar-2012)
Raking muck, Part 2
Continuing our series, we look at a set of over-priced acquisitions and questionable transactions by China Post e-Commerce and others, building a matrix which demonstrates the close connections between the persons involved. We call on the SFC to investigate. (27-Feb-2012)
Raking muck, Part 1
In the first of a multi-part series, we delve into a transaction by the HK offshoot of Xinhua, the PRC's official news agency, and the people behind it. (21-Feb-2012)
Tsun Yip (8356) buys 17% of China New Media (HK) Co Ltd from Vicky Yu Wai Yin
Company announcement, 29-Jul-2011
For HK$70.04m of which $25m in cash and $45.04m in promissory notes. This follows the earlier purchase of 19% by Inno-Tech (0254) and the purchase 3 days ago of 7% by China Railsmedia (0745). The target is 51% owned by China Outdoor Media (8202). Its valuation is still claimed at $412m despite being loss-making and having negative net assets of $1m.
China Railsmedia (0745) buys 7% of China New Media (HK) Co Ltd from Vicky Yu Wai Yin
Company announcement, 26-Jul-2011
For HK$28.8m, of which $13m in cash and $15.8m in promissory note.
Inno-Tech (8202) buys 19% of China New Media (HK) Co Ltd from Vicky Yu Wai YinCircular
Company announcement, 18-Feb-2011
For HK$78m, half in cash, half in convertible bonds. The target is 51% owned by China Outdoor Media (0254), is loss-making, and has net liabilities of $0.7m but is valued at $412m.
Inno-Tech (8202) issues shares to 4 subscribers and signs consultancy agreement with Galaxy Capital LtdSupplemental announcement
Company announcement, 14-Jan-2010
They are Galaxy China Special Situation Fund SPC for 34.5m shares (6.76%), Galaxy China Deep Value Fund for 65m shares (3.16%), Cheever Capital Management (Asia) Ltd for 20.8m shares (3.44%), and Chen Zhi Cheng for 22,465,427 shares (3.71%). The issue is at a 19.7% discount to market. The Consultant would get 10.74% of Inno-Tech on completion of acquisition of a target identified by the Consultant.
Inno-Tech (8202) sells 56% of Autoscale for HK$3.14m
Company announcement, 16-Feb-2009
The owner of the purchaser is not disclosed. The stake was acquired from directors of Inno-Tech for $58.97m in 2007. Based on the underlying share price of China Health Care Corp, the stake should be worth about HK$6m.
Mr Lai Yiu Keung subscribes 135m shares of Inno-Tech @$0.087
Company announcement, 29-Oct-2008
Mr Lai is the Chairman of Hycomm Wireless (0499).
Inno-Tech (8202) buys hotel from Smart Boom Investment Ltd for RMB20mCircular
Company announcement, 5-Feb-2008
The vendor's owner is not disclosed, but is the same as the owner of the vendor in the two hotel acquisitions by Inno-Tech on 5-Nov-2007.
Inno-Tech (8202) subsidiary Autoscale injects UPMG into US shellCircular
Company announcement, 25-Jan-2008
The shell was later renamed China Health Care Corporation.
Inno-Tech (8202) buys 2 hotels from Smart Boom Development Ltd for RMB27mCircular
Company announcement, 6-Nov-2007
The vendor's owner is not disclosed.
Inno-Tech (8202) to form JV to manage and operate PRC hotels
Company announcement, 4-May-2007
The "PRC Partner" is an unnamed HK company. In a later document it was named as China Railway Investments Group (Hong Kong) Ltd, a company which has featured in a Webb-site article.
Inno-Tech (8202) buys 56% of Autoscale Resources Ltd from Inno-Tech directorsCircular
Company announcement, 7-Mar-2007
For HK$58.97m, satisfied with 351m shares (39.84%) of Inno-Tech @$0.168. Autoscale had net liabilities at 30-Sep-2006 of HK$0.16m. It owns 37.71% of UPMG, a hospital management group which lost HK$29.5m in the year to 30-Sep-2006.
Inno-Tech (8202) places shares with Albert Ma She Shing & Chen Zhi Cheng
Company announcement, 21-Dec-2005
Inno-Tech (8202) issues convertible notes to Lee Kit Wah
Company announcement, 6-Jul-2005
Inno-Tech (8202): allotment results and concentration warning
Company announcement, 6-Aug-2002

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