CCBI Investments (Cayman) Limited
China Sandi (0910) controller pledges 51% to CCB (0939)
| CCB filing
Disclosure of interest, 30-May-2018
The filing states that the companies owned by Mr Guo Jiadi entered into a "subscription agreement" with an "investor" on 26-Apr-2018, which closed on 30-May-2018, whereupon the shares were pledged to the investor. The filing by CCB discloses its security interest in the shares, probably as collateral for a loan.
Disclosure of interest, 30-May-2018
The filing states that the companies owned by Mr Guo Jiadi entered into a "subscription agreement" with an "investor" on 26-Apr-2018, which closed on 30-May-2018, whereupon the shares were pledged to the investor. The filing by CCB discloses its security interest in the shares, probably as collateral for a loan.
China Innovative Finance (0412) bubble
Hao Tian Development (0474) has confirmed our view by dumping 9.06% of CIFG at a 61.9% discount, still well above the net tangible asset value of $0.099. CIFG should trade below NTAV due to its appalling governance and membership of what we call the "Chung Nam Network". The purported profits of its leasing division are largely illusory and depend heavily on 1 customer in which CIFG has invested. HTD has also been allowed by HKEX to skirt the Listing Rules on corporate transactions. (26-Sep-2016)
Hao Tian Development (0474) has confirmed our view by dumping 9.06% of CIFG at a 61.9% discount, still well above the net tangible asset value of $0.099. CIFG should trade below NTAV due to its appalling governance and membership of what we call the "Chung Nam Network". The purported profits of its leasing division are largely illusory and depend heavily on 1 customer in which CIFG has invested. HTD has also been allowed by HKEX to skirt the Listing Rules on corporate transactions. (26-Sep-2016)
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