Shanghai CEFC International Group Limited 上海華信國際集團有限公司

The Huarong-CMB network: 26 stocks not to own
In our first circuit diagram since the infamous Enigma Network, we examine the overlapping networks, bubbles and funding surrounding 26 HK-listed companies that your portfolio would probably do better without. (19-Oct-2018)
Shanghai Huaxin Group (HongKong) Ltd ordered wound up
HK Court of First Instance, 3-Sep-2018
Also known as Huaxin Hong Kong, this is a 100% subsidiary of CEFC Shanghai International Group Ltd (Huaxin Shanghai), which has defaulted on its bonds. Huarong Int Fin (0993) subscribed HK$900m for preferred shares of Huaxin HK in Jun-2017, and received guarantees and put options from Huaxin Shanghai, on which it has also defaulted.
Huarong Int Fin (0993) subscribes HK$900m preferred shares in Shanghai Huaxin Group (HK) Ltd
Company announcement, 9-Jun-2017
There are various put options provided by its PRC 100% parent, CEFC Shanghai International Group Ltd, in the event that Huaxin HK does not get a listing on a recognised stock exchange (including SEHK main board) by 2020. The announcement doesn't say what percentage of the equity of Huaxin HK the preferred shares represent.

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