China National Culture Group Limited 中國國家文化產業集團有限公司

HKICPA fines Edmund Siu, Yip Kai Yin & Elite Partners CPA Ltd HK$50k each, plus costs of HK$290k
HKICPA, 20-May-2021
For bad work on the 2014 audit of China National Culture (0745) relating to goodwill impairment testing on the 2012 acquisition of Huge Leader Development Ltd, which we wrote about in our "Raking Muck" series of articles in 2012. In the 2014 accounts, the management's cashflow projections were valued by International Valuation Ltd. Elite has now been fined 6 times since 2015, Mr Yip 4 times since 2013 and Mr Siu 3 times since 2017.
CNC (0745) dumps China Jicheng (1027) in Enigma Network meltdown
Company announcement, 28-Jun-2017
The sale was at an average price of $0.0214, better than Lerado's $0.0169 and better than the market average $0.0188.
QPL (0243) dumps 3 stocks in Enigma Network meltdown
Company announcement, 27-Jun-2017
We knew they had shares in GCPS (8193), but this announcement also reveals holdings in Major (1389) and China Jicheng (1027). The CJ shares were sold at an average $0.0275, better than Lerado's $0.0169 and CNC's $0.0214.
The Enigma Network: 50 stocks not to own
Sometimes, all you need to tell a story is a picture. (15-May-2017)
Excel Courage Holdings Ltd & another v Wong Sin Lai/Lei (fka Wong Tam Yee) & others
HK Court of First Instance, 16-Nov-2015
Excel Courage Holdings Ltd & another v Wong Sin Lai/Lei (fka Wong Tam Yee) & others
HK Court of First Instance, 25-Aug-2015
China National Culture (0745): our CEO quit 10 months ago...
Company announcement, 1-Apr-2015
...but we didn't think it mattered enough to tell you. His contribution was valuable. Well, not that valuable. And no, this is not an April Fool's joke.
Excel Courage Holdings Ltd & another v Wong Sin Lai/Lei (fka Wong Tam Yee) & others
HK Court of First Instance, 15-Dec-2014
Excel Courage Holdings Ltd & another v Wong Sin Lai/Lei (fka Wong Tam Yee) & others
HK Court of First Instance, 14-Aug-2014
Excel Courage Holdings Ltd & another v Wong Sin Lai/Lei (fka Wong Tam Yee) & others
HK Court of Appeal, 30-May-2014
Para 4: "[Hung Ka Leung] is a business man who has been investing in the property and stock market in Hong Kong. He comes from a well-off family and his father is a person of influence in Xiamen, China."
China Railsmedia (0745) to pay HK$2bn for start-up with negative NAV.
Company announcement, 7-Apr-2014
The start-up has net liabilities of HK$68k. The vendor is a BVI company called i-Marker Global Corp and the owner(s) of this shell are not disclosed in this announcement. Back on 17-Jan-2013, China Railsmedia signed an MoU to buy i-Marker Global Corp - but apparently nothing came of it.
China Railsmedia (0745) signs MoU to buy i-Marker Global Corp
Company announcement, 17-Jan-2013
Raking muck, Part 5
In the penultimate episode, we look at a transaction in progress by Railsmedia (0745) and how it connects with CPEC (8041), COMG (0254) and 3 shells. We also introduce a 10th listed company to the story, Zhi Cheng (8130) which has such a track record of value destruction that it has consolidated its shares by 200,000 to 1 since 2007. (11-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)
China Railsmedia (0745) to buy FingerAd Media Co Ltd for HK$690m
Company announcement, 21-Nov-2011
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.
Concentration warning
Company announcement, 1-Nov-2007

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