China Sandi Holdings Limited 中國三迪控股有限公司
SFC obtains court orders against John Tse On Kin, ex-Chairman of Kong Sun (0295) and China Sandi (0910)
| Judgment
SFC, 15-Nov-2023
For hiding behind a nominee in a share placement of each company. In both cases the placing agent was Kingston Securities. Webb-site Who's Who shows that from 1994 to 2017, Mr Tse was a director of 11 HK-listed companies, the stocks of which returned a compound average annual loss of 29.87% during his tenure.
SFC, 15-Nov-2023
For hiding behind a nominee in a share placement of each company. In both cases the placing agent was Kingston Securities. Webb-site Who's Who shows that from 1994 to 2017, Mr Tse was a director of 11 HK-listed companies, the stocks of which returned a compound average annual loss of 29.87% during his tenure.
Censure/criticism of Prosper One (1470) and 9 directors
| Announcement, 23-Jul-2019
SEHK, 18-May-2022
We note that INED Michael Lee Chun Keung is a HK Legislator and Vice Chairperson of the Liberal Party, while former INED Michael Chan Yee Ping is still an INED of 4 other companies which should consider whether to retain him.
SEHK, 18-May-2022
We note that INED Michael Lee Chun Keung is a HK Legislator and Vice Chairperson of the Liberal Party, while former INED Michael Chan Yee Ping is still an INED of 4 other companies which should consider whether to retain him.
China Sandi (0910) controller pledges 51% to CCB (0939)
| CCB filing
Disclosure of interest, 30-May-2018
The filing states that the companies owned by Mr Guo Jiadi entered into a "subscription agreement" with an "investor" on 26-Apr-2018, which closed on 30-May-2018, whereupon the shares were pledged to the investor. The filing by CCB discloses its security interest in the shares, probably as collateral for a loan.
Disclosure of interest, 30-May-2018
The filing states that the companies owned by Mr Guo Jiadi entered into a "subscription agreement" with an "investor" on 26-Apr-2018, which closed on 30-May-2018, whereupon the shares were pledged to the investor. The filing by CCB discloses its security interest in the shares, probably as collateral for a loan.
China Sandi (0910) controller pledges 625m shares (14.01%) to Huarong Int Fin (0993)
| Huarong filing
Disclosure of interest, 27-Dec-2017
This comes after Huarong bought 312.5m unlisted warrants from Kong LingLing at $0.06 per warrant, which it exercised at $0.24 per share on 22-Dec-2017. Huarong now also has a short interest in the same number of shares, suggesting that the controller has granted a put option and posted 625m shares as security for its obligations. Kong LingLing purchased the warrants on 24-Jan-2017 from CCB (0939) at $0.015 per warrant.
Disclosure of interest, 27-Dec-2017
This comes after Huarong bought 312.5m unlisted warrants from Kong LingLing at $0.06 per warrant, which it exercised at $0.24 per share on 22-Dec-2017. Huarong now also has a short interest in the same number of shares, suggesting that the controller has granted a put option and posted 625m shares as security for its obligations. Kong LingLing purchased the warrants on 24-Jan-2017 from CCB (0939) at $0.015 per warrant.
SFC seeks court orders against ex-chairman of Kong Sun (0295) and China Sandi (0910)
SFC, 13-Feb-2017
For allegedly using a nominee to take discounted shares in placings.
SFC, 13-Feb-2017
For allegedly using a nominee to take discounted shares in placings.
ZJW v SY
HK District Court, 21-Sep-2016
Mr Sun Yan, a former HK-listed company director who now works for a subsidiary of Burwill (0024), succeeds in showing that he has no substantial connection with HK, so the divorce petition by his wife Zhou Jianwu is dismissed. Both are based in Shenzhen. Mr Sun is involved in a claim in HCA 813/2014 which involves over HK$337m of assets held by Superb Jade Ltd, which is owned by his wife's brother. Mr Sun claims beneficial ownership.
HK District Court, 21-Sep-2016
Mr Sun Yan, a former HK-listed company director who now works for a subsidiary of Burwill (0024), succeeds in showing that he has no substantial connection with HK, so the divorce petition by his wife Zhou Jianwu is dismissed. Both are based in Shenzhen. Mr Sun is involved in a claim in HCA 813/2014 which involves over HK$337m of assets held by Superb Jade Ltd, which is owned by his wife's brother. Mr Sun claims beneficial ownership.
China Sandi (0910) proposes to issue unlisted warrants
Company announcement, 21-Dec-2015
It fails to say who owns the BVI subscriber, Chance Talent Management Ltd. We can tell you that it is wholly owned by China Construction Bank (0939). The 2-year warrants will be issued for just $0.01 each, far below theoretical value. A parallel issue of HK$150m of 10% notes to the same entity is not conditional on the warrant issue.
Company announcement, 21-Dec-2015
It fails to say who owns the BVI subscriber, Chance Talent Management Ltd. We can tell you that it is wholly owned by China Construction Bank (0939). The 2-year warrants will be issued for just $0.01 each, far below theoretical value. A parallel issue of HK$150m of 10% notes to the same entity is not conditional on the warrant issue.
Sun Yan v Superb Jade Ltd & others
HK Court of First Instance, 23-Oct-2015
A dispute over the beneficial owner of securities and cash held by Superb Jade Ltd worth as much as HK$300m. Mr Sun Yan is based in Shenzhen but has been a director of various HK-listed companies. He has posted HK$1m as security for costs, which the court rules is adequate given that the defendants still hold the assets which are frozen under a Mareva injunction. Superb Jade is owned by Lin Li Dong, the brother of Sun's wife, Zhao Jianwu.
HK Court of First Instance, 23-Oct-2015
A dispute over the beneficial owner of securities and cash held by Superb Jade Ltd worth as much as HK$300m. Mr Sun Yan is based in Shenzhen but has been a director of various HK-listed companies. He has posted HK$1m as security for costs, which the court rules is adequate given that the defendants still hold the assets which are frozen under a Mareva injunction. Superb Jade is owned by Lin Li Dong, the brother of Sun's wife, Zhao Jianwu.
SFC suspends Ms Chiang Yuk Oi, ex-Wing On Cheong Securities Co Ltd, for 6 months for recklessly misleading SFC
SFC, 23-Jul-2002
SFC, 23-Jul-2002
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