NetMind Financial Holdings Limited 網智金控集團有限公司

Netmind (0985) buys EUR10.18m company yachtThe Yacht
Company announcement, 17-Jul-2017
NetMind (0985) sells 8.66% of CIFG (0412) for HK$598.44m
Disclosure of interest, 8-Dec-2016
The off-market transaction, on 5-Dec-2016, was for cash at $0.36 per share, a 39% discount to the closing price of $0.59. The consideration was 24.31% ot NetMind's market capitalisation of $2461m at the average price over the preceding 5 days, so in our view, it was a Discloseable Transaction under the Listing Rules, which NetMind has failed to announce. Both companies are in what we call the "Chung Nam Network".
Celebrate (8212) coughs up investment details at 30-Jun-2016.
Company announcement, 3-Oct-2016
This follows a Webb-site complaint on 23-Sep-2016.
The Joint Global implosion
A collapse in a hub of the "Chung Nam Network" has wiped about HK$2bn off the balance sheets of at least 11 listed companies, many of which never announced that they had invested in it. We piece together an ugly jigsaw and call on the SFC to investigate and HKEX to wake up and require announcements. (30-Sep-2016)
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)
GT (0263) belatedly discloses what it held at 30-Jun-2015
Company announcement, 26-Nov-2015
All of the 5 identified shareholdings are in listed companies in what we call the "Chung Nam Network", as is GT.
The bubbles in CNN
We warn investors of 3 bubbles amounting to HK$20.0bn (US$2.58bn) in the "Chung Nam Network" of listed companies, Heritage (0412), Rising Dev (1004) and Mascotte (0136) and look at a blatantly bad decision by the board of Hao Tian (0474), and an undisclosed Very Substantial Acquisition by that company. One of the bubbles is even a Russian doll "double bubble" - one owns the other. (8-Jan-2015)
CST Mining (0985) buys 50m shares (3.37%) of Rising Development (1004)
Disclosure of interest, 19-Dec-2014
The off-market deal at $5.33 cost HK$266.5m and increases the stake to 7.74%.
CST Mining (0985) buys 210m shares (4.96%) of Heritage (0412)
Disclosure of interest, 5-Nov-2014
The off-market purchase at HK$2.00 costs $420m and increases its stake to 9.81%.
Subscription agreement between Hao Tian (0474) and HEC Capital Ltd dated 18-Sep-2012
Company filing, 2-Jul-2014
This is a recent filing under the Takeovers Code. Schedule 1 reveals the shareholdings in HEC Capital Ltd on the subscription date, including 10 other listed companies which we consider to be in the "Chung Nam Network".
CST Mining (0985) grants warrants to Och-Ziff funds for almost nothing
Company announcement, 26-Oct-2010
The theoretical value of these warrants is about $0.05 - about 500 times the issue price of $0.0001 per warrant. What does the company expect in return - that OZ will pile into the stock? Companies should not buy their shareholders, because it comes at the expense of all other holders.
China Strategic bubble
We warn investors of a bubble in the stock of China Strategic, the 80% owner of the proposed buyer of Taiwan's Nan Shan Life Insurance, partly financed by a massive note issue convertible into 78bn shares at $0.10 each. We publish the placing list and analyse the names in the deal. Finally, we warn investors to avoid 7 companies in the "Chung Nam network", which has lost HK$6.2bn in 5 years. (13-Nov-2009)
The paid advert opposing the blackout rule
With links to the signatories in Webb-site Who's Who. (29-Dec-2008)
Mr Chiu Tao, back from bankruptcy proceedings, resumes directorship
Company announcement, 7-Nov-2008
...at a salary of HK$13m per year!
Mr Yeung Kwok Yu, discharged bankrupt and brother-in-law of Chairman, returns to Board
Company announcement, 26-Sep-2008
Breach of Listing Rule 13.49(1)
Company announcement, 31-Jul-2006
Heritage (0412) buys 4.99% of China Sci-Tech (0985) from Eugene Chuang Yue Chien for 13.29% new shares in HeritageCircular
Company announcement, 7-Sep-2004
Mr Chuang has borrowed $15m from Double Smart Finance Ltd, a 100% subsidiary of Heritage.
Mr Yeung Kwok Yu, executive director, resigns for "personal reason" (he is bankrupt).
Company announcement, 6-Aug-2004
Eugene Chuang Yue Chien subscribes 1.15bn shares (16.53%) of China Sci-Tech (0985) for HK$23m
Company announcement, 30-Jun-2003
SFC prosecutes New Excellence Holdings Ltd under the Securities (Disclosure of Interests) Ordinance
SFC, 30-Jan-2002
Note: New Excellence Holdings Ltd was 65% owned by Mr Chiu Tao, then Chairman of China Sci-Tech.
SFC reprimands Mr Sai Xiaolin (aka Azizi Farhat) & Mr Liu Wenchaun
SFC, 30-Jan-2001

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