Liu, Wen (1967) 劉文
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.
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.
Sign up for our free newsletter
Recommend Webb-site to a friend
Copyright & disclaimer, Privacy policy