China e-Wallet Payment Group Limited 中國錢包支付集團有限公司

China e-Wallet (0802): 2 of our INEDs have resigned
Company announcement, 18-Oct-2023
That's less than 3 hours after the company announced that its HK office was visited by "a regulatory authority". When the going gets tough, the INEDs get going. Mr Kwan King Wah "would like to focus on his own business pursuit" while Ms Lo Suet Lai "would like to devote more time to her own profession and business". They had served since 2012 and 2016 respectively, before the stock appeared in our 2017 Enigma Network.
China e-Wallet (0802): a regulatory authority visited our HK office, but we weren't thereTotal return chart
Company announcement, 18-Oct-2023
This was one of the 50 stocks "not to own" in our 2017 Enigma Network. Since then, it has lost 98.14%. The regulatory authority is probably either the ICAC or SFC.
Censure of China e-Wallet (0802) and directors
SEHK, 22-Jan-2018
This relates to the Jun-2015 interim results which were restated after 17 days to include a huge gain on financial assets of which only the CEO was previously aware. This sanction fails to mention that HKEX did not enforce the Listing Rule requiring disclosure of significant investments, so even the revised results did not disclose that all the gain was in one stock, China Jicheng (1027), the umbrella bubble. That stock accounted for 74.7% of equity at the balance sheet date. This was later revaled and both companies were in our "Enigma Network" diagram in 2017.
The Enigma Network: 50 stocks not to own
Sometimes, all you need to tell a story is a picture. (15-May-2017)
CIFG (1226) coughs up details of investments at 30-Sep-2016
Company announcement, 23-Jan-2017
This follows a complaint to HKEX by Webb-site on 26-Dec-2016 that CIFG had failed to disclose details of "significant investments" as required by paragraph 32(4) of Appendix 16 of the Listing Rules. We calculate that the holdings included 3.32% of WLS (8021), 3.90% of KPM (8027), 1.30% of GCPS (8193), 4.49% of AMCO (0630) and 4.86% of RCG (0802).
WLS (8021) admits holding convertible bonds in RCG (0802)
Company announcement, 23-Dec-2016
Enterprise Development (1808) coughs up investment details at 30-Jun-2016 and 31-Dec-2015The Joint Global implosion
Company announcement, 30-Nov-2016
This follows a complaint by Webb-site to HKEX on 4-Sep-2016. The announcement hints at what happened to Joint Global Ltd, featured in our article "The Joint Global implosion". During the first half of 2016, JG disposed of its entire 26.96% shareholding in HEC Capital Ltd for an undisclosed price and had incurred a cumulative loss of HK$1978m by 30-Jun-2016, reducing its net assets from HK$2130m to just $132m, including a 5-year promissory note of $131m.
SEEC (0205) coughs up details of investments
Company announcement, 21-Sep-2016
This follows a complaint to HKEX by Webb-site on 4-Sep-2016 that SEEC had failed to disclose significant investments as required by the Listing Rules. At 30-Jun-2016, SEEC held 3.04% of QPL (0243) and 4.86% of RCG (0802).
RCG (0802) restates interim results to include huge investment gain
Company announcement, 14-Sep-2015
But if fails to disclose any details of significant investments as required by paragraph 32(4) of Appendix 16 of the Listing Rules.
Veron International Ltd v RCG Holdings Ltd (0802)
HK Court of Appeal, 30-May-2013
RCG (0802): Commercial Crime Bureau investigation
Company announcement, 19-Dec-2012
Veron International Ltd v RCG Holdings Ltd (0802)
HK Court of First Instance, 9-May-2012
RCG shareholders veto 20:1 stock split
Company announcement, 27-Jul-2010
Network Technology Ltd v RCG (Hong Kong) Ltd
HK Court of First Instance, 19-Mar-2010
Chinachem Charitable Fondation Ltd v Tony Chan Chun Chuen
HK Court of First Instance, 2-Feb-2010

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