China Energy Storage Technology Development Limited 中國儲能科技發展有限公司
Court orders ex-Combest (ex-8190) senior execs to make HK$192m compensation to shareholders
| Judgment
SFC, 2-Jun-2025
Webb-site filed a detailed complaint on this to the SFC on 21-Dec-2017. Justice Harris asks why criminal charges were not brought, as the case "clearly bears the hallmarks of a fraud". The SFC replies that it referred the case to the Police Commercial Crime Bureau on 20-Jun-2019. Over $293m of losses were caused to Combest, so the respondents appear to have made a net profit and avoided criminal charges.
SFC, 2-Jun-2025
Webb-site filed a detailed complaint on this to the SFC on 21-Dec-2017. Justice Harris asks why criminal charges were not brought, as the case "clearly bears the hallmarks of a fraud". The SFC replies that it referred the case to the Police Commercial Crime Bureau on 20-Jun-2019. Over $293m of losses were caused to Combest, so the respondents appear to have made a net profit and avoided criminal charges.
Breaking: SFC freezes up to HK$10.17bn of assets in 3 brokers
Webb-site has deduced that these are assets of Mr Yang Zhihui, missing Chairman and majority shareholder of Landing (0582), and that he is reasonably suspected of fraud causing losses of HK$10.17bn to China Huarong (2799), the ex-Chairman of which is under a corruption investigation in China. We also turn the spotlight on China Goldjoy (1282) which was an enthusiastic buyer of Landing at prices far higher than its Chairman paid beforehand. (1-Oct-2018)
Webb-site has deduced that these are assets of Mr Yang Zhihui, missing Chairman and majority shareholder of Landing (0582), and that he is reasonably suspected of fraud causing losses of HK$10.17bn to China Huarong (2799), the ex-Chairman of which is under a corruption investigation in China. We also turn the spotlight on China Goldjoy (1282) which was an enthusiastic buyer of Landing at prices far higher than its Chairman paid beforehand. (1-Oct-2018)
Teamway (1239) agreement for purchase of Gorgeous Assets Ltd dated 13-May-2016
Company filing, 31-Jan-2018
The agreement is published online due to a takeover offer for Teamway. At 31-Dec-2015, Gorgeous Assets Ltd was an inactive subsidiary of China Healthcare Enterprise Group Ltd (CHE, 1143). In 2016, it purchased the property for HK$55.575m including 23.5% stamp duty, Georgeous Assets Ltd was then acquired by Teamway in exchange for 200m new shares.
Company filing, 31-Jan-2018
The agreement is published online due to a takeover offer for Teamway. At 31-Dec-2015, Gorgeous Assets Ltd was an inactive subsidiary of China Healthcare Enterprise Group Ltd (CHE, 1143). In 2016, it purchased the property for HK$55.575m including 23.5% stamp duty, Georgeous Assets Ltd was then acquired by Teamway in exchange for 200m new shares.
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