GoFinTech Innovation (0290) buys more shares in Jinhai Medical Technology (2225)

The SFC issued a concentration warning in Jinhai's stock in Jul-2021 when 20 holders had 95.14%. It's up 48.7% since then, so GoFinTech appears to be buying into a bubble. Jinhai had net assets of just S$37.5m (then HK$222m) at 31-Dec-2023 and now has a market value of HK$5803m. GoFinTech's previous purchase on 15-Mar-2024 was from Bestone Asset Management (BAM), said to be an independent third party, the owners of which are not disclosed. We note that Liu Zhiwei, a 17% shareholder of GoFinTech and its chairman until 28-Feb-2024, was once Chairman of BAM.

Organisations

Bestone Asset Management Co., Ltd 博石資產管理股份有限公司
GALAXY WAY DEVELOPMENT LIMITED (VG) 利威發展有限公司
GoFintech Innovation Limited 國富創新有限公司
Jinhai Medical Technology Limited 今海醫療科技股份有限公司

People

Liu, Zhiwei (1967) 柳志偉

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