Bestone Asset Management Co., Ltd 博石資產管理股份有限公司
GoFinTech Innovation (0290) buys more shares in Jinhai Medical Technology (2225)
Company announcement, 23-Aug-2024
The SFC issued a concentration warning in Jinhai's stock in Jul-2021 when 20 holders had 95.14%. It's up 48.7% since then, so GoFinTech appears to be buying into a bubble. Jinhai had net assets of just S$37.5m (then HK$222m) at 31-Dec-2023 and now has a market value of HK$5803m. GoFinTech's previous purchase on 15-Mar-2024 was from Bestone Asset Management (BAM), said to be an independent third party, the owners of which are not disclosed. We note that Liu Zhiwei, a 17% shareholder of GoFinTech and its chairman until 28-Feb-2024, was once Chairman of BAM.
Company announcement, 23-Aug-2024
The SFC issued a concentration warning in Jinhai's stock in Jul-2021 when 20 holders had 95.14%. It's up 48.7% since then, so GoFinTech appears to be buying into a bubble. Jinhai had net assets of just S$37.5m (then HK$222m) at 31-Dec-2023 and now has a market value of HK$5803m. GoFinTech's previous purchase on 15-Mar-2024 was from Bestone Asset Management (BAM), said to be an independent third party, the owners of which are not disclosed. We note that Liu Zhiwei, a 17% shareholder of GoFinTech and its chairman until 28-Feb-2024, was once Chairman of BAM.
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