我是印廢紙- 中國環保能源(0986)、中國集成控股(1027)、匯隆控股(8021)、漢華專業服務(8193)、樂亞國際(8195)、聯旺集團(8217)

Random Tags

舞高整體奶被年選使用權均沾稅逾口不盤齊 EQ 物理戲飛刀明卡洛堂並或洽丟錢樓團公職原個結婚貴折百營在幹震創金圓券韓語空約醫務住死接觸貴米遲近傳惹與林 Bobbi 的搏楠拖 2828 屋佔黃溢蛙奴無毛煮竹珣陀存有食埋可觀找的濤略

我是印廢紙- 中國環保能源(0986)、中國集成控股(1027)、匯隆控股(8021)、漢華專業服務(8193)、樂亞國際(8195)、聯旺集團(8217)

http://www.hkexnews.hk/listedco/listconews/SEHK/2016/0818/LTN201608181093_C.pdf

公司買泡沫翠如BB，之後賣出幾隻雨傘、垃圾廢紙廠。

http://www.hkexnews.hk/listedco/listconews/GEM/2016/0818/GLN20160818006_C.pdf

近日，垃圾廢紙廠匯隆宣佈和人頭合資購入毛衣股樂亞國際，以約1.4仙現金加一堆炒高的匯隆控股(8021)支付。人頭的錢是由匯隆控股及其他公司借出來，股票是用張承兌票據印給大家。其實，樂亞國際懷疑都是給內部人控了股，用這個方法把真實股權浮面。最後，這堆內部人都是拿了堆炒貴了廢紙，現金可能都是利用財務公司借給人頭，於是兩相抵銷。

這一批如近期華仁醫療 (0648，前祥華發展、中國仁濟醫療) 換股收購銳康藥業(8037，前朗力福集團)及君陽金融 (0397，前合一集團、金寶國際集團、元開達利環保、星虹控股、康健醫療科技、香港體檢、中國保綠資產、君陽太陽能) 購入絲路能源 (8250，前普思基因生物科技、確思醫藥、中國天然投資)的套路的更新版，看看無本印股大法是否能繼續及印級呢。

PermaLink: https://articles.zkiz.com/?id=211328

中國環保能源(0986，前南興)討論區(只討論電動車項目的真偽，關係:1063、華匯、詹培忠)

1 : GS(14)@2010-07-19 22:19:53

http://www.hkexnews.hk/listedco/ ... TN20100719016_C.pdf
==============================================================================
賣殼前傳:

2007年7月16日，大股東買番貴重物業。
http://www.hkexnews.hk/listedco/ ... TN20070716397_C.pdf

2008年4月，公司祕書辭任，仍任會計師。
http://www.hkexnews.hk/listedco/ ... TN20080417077_C.pdf

2008年5月，大股東落實賣殼，此後一直洽談。
http://www.hkexnews.hk/listedco/ ... TN20080527325_C.pdf
http://www.hkexnews.hk/listedco/ ... TN20080610418_C.pdf

7月，發盈警。
http://www.hkexnews.hk/listedco/ ... TN20080709343_C.pdf

同月，賣殼正在洽談中。
http://www.hkexnews.hk/listedco/ ... TN20080715418_C.pdf

7月底，公司又出售廠地。
http://www.hkexnews.hk/listedco/ ... TN20080731502_C.pdf

11月，會計師都辭任埋，換上新人，給新主看數做準備。
http://www.hkexnews.hk/listedco/ ... TN20081103571_C.pdf

12月，又委任新執董，這是新主入主的準備。
http://www.hkexnews.hk/listedco/ ... TN20081201556_C.pdf

2009年6月，換核數師。
http://www.hkexnews.hk/listedco/ ... TN20090602965_C.pdf

7月，延遲發業績及年報。
http://www.hkexnews.hk/listedco/ ... TN20090731443_C.pdf

11月，大股東出售股權給詹先生，並辭任主席，他的關係人士悉數辭任。
http://www.hkexnews.hk/listedco/ ... N200911021213_C.pdf
http://www.hkexnews.hk/listedco/ ... TN20091116625_C.pdf

2 : fung3010(2389)@2010-07-19 23:21:25

講故仔時間~~

先講故仔，再搵人仔。最後研究電池仔~

23/11/2009 - 第一次提議玩收購比亞廸.....既同行 (電動車電池)

http://www.hkexnews.hk/listedco/ ... 091123492_C.pdf

09/12/2009 - 收購補充 (定好按金60,000,000港元)

http://www.hkexnews.hk/listedco/ ... 091209292_C.pdf

16/12/2009 - 董事會執位

http://www.hkexnews.hk/listedco/listconews/sehk/20091216/LTN20091216424_C.pdf

18/12/2009 - 圍圍喂配售新股份

http://www.hkexnews.hk/listedco/listconews/sehk/20091218/LTN20091218020_C.pdf

19/02/2010 - 過完年後，新一年當然要換一換人

http://www.hkexnews.hk/listedco/listconews/sehk/20100219/LTN20100219197_C.pdf

15/04/2010 - 停牌....收購有 "LOR" 味

http://www.hkexnews.hk/listedco/listconews/sehk/20100415/LTN20100415114_C.PDF

18/05/2010 - 第一次全購失敗。訂立終止協議時，986與賣方訂立補充諒解備忘錄。跟手復牌。(按金離奇地變左46,000,000港元)

http://www.hkexnews.hk/listedco/listconews/sehk/20100519/LTN20100519016_C.pdf

http://www.hkexnews.hk/listedco/listconews/sehk/20100519/LTN20100519061_C.HTM

31/05/2010 - 死心不息第一擊: 圍圍喂配售新股份

http://www.hkexnews.hk/listedco/listconews/sehk/20100531/LTN20100531601_C.pdf

10/06/2010 - 死心不息第二擊: 濕九補充改收購條文。(986有條件同意自賣方收購目標公司之銷售股份)

http://www.hkexnews.hk/listedco/listconews/sehk/20100610/LTN20100610432_C.pdf

28/06/2010 - 死心不息第三擊: 沖乾淨涼，甩走死皮等新主人~~ (銅箔及積層板製造及積層板貿易業務)

http://www.hkexnews.hk/listedco/listconews/sehk/20100628/LTN20100628701_C.pdf

02/07/2010 - 死心不息第四擊: 再圍圍喂配售新股份集資2億 + 增加法定股本預備好收購動作

http://www.hkexnews.hk/listedco/listconews/sehk/20100702/LTN201007021438_C.pdf

19/07/2010 - 完成收購股份同專利: 比人襟住搶，收購代價變左170,000,000港元同日加演白痴打錯字補充

http://www.hkexnews.hk/listedco/listconews/sehk/20100719/LTN20100719016_C.pdf
http://www.hkexnews.hk/listedco/listconews/sehk/20100719/LTN20100719311_C.pdf

3 : fung3010(2389)@2010-07-19 23:44:04

收購代價

收購事項項下銷售股份之總代價為170,000,000港元，將以下方式支付：
(a) 其中71,000,000港元之部分已根據諒解備忘錄之條款以現金（為可退還按金）支付；
(b) 於該協議完成時，買方將可絕對全權酌情按下列任何一種方式支付代價之餘額：
(i) 透過現金支付；或
(ii) 透過本公司發行可換股票據

代價將部分由現金及可換股票據償付。最多99,000,000港元將透過按初步轉換價0.28
港元（視乎重定價之調整而定）發行可換股票據償付。因此，倘持有人按初步轉換價
0.28港元悉數行使可換股票據附帶之轉換權合共99,000,000港元，則本公司將發行合共
353,571,429股轉換股份，相當於於本公告日期以本公司之已發行股本約58.61%及經配
發及發行轉換股份擴大後之已發行股本約36.95%。轉換股份將根據於股東特別大會上
尋求之特定授權予以發行。

---------------------------------------------------------------------------------------------------------------

1.7億買到咩呢?

將予收購之資產

銷售股份將包括目標公司之9.9%已發行股本。目標公司之餘下90.1%已發行股本將繼續由賣方持有。

目標公司為一間投資控股公司，其於二零零九年十一月十三日訂立兩份合約，包括(i)與曹先生訂立之協議，內容有關以象徵式代價每年1港元租賃關於應用電動車電池製造技術之獨家許可，自二零零九年十一月十三日起，為期15年；及(ii)與中盛訂立之協議，以於中國分許可用於電動車之多元聚合物電池之製造技術，直至二零一八年五月七日止，為期15年，專利權費為向市場銷售多元聚合物電池銷售額之12%（「專利權費」）。

專利

用於電動車之多元聚合物電池之製造技術乃由曹先生發明並以曹先生之名義於中國以專利號200820067136.4註冊為專利（「專利」）。曹先生與目標公司於二零零九年十一月十三日訂立合約，其中訂明(i)曹先生以象徵式代價每年1港元以獨家許可授予目標公司專利，為期15年；及(ii)目標公司有權分許可專利予其他廠房，以製造用於電動車之多元聚合物電池。

賣方商業化專利之角色及責任

曹先生為用於電動車之多元聚合物電池之製造技術之專利發明人。然而，彼並不擁有令該技術商業化以令中國汽車製造商（「汽車製造商」）接受之能力。因此，賣方之最終股東Lv Youzhen及Tang Bin有信心市場會接受用於電動車之多元聚合物電池之製造技術，彼等邀請賣方之其他最終股東成立目標公司以向汽車製造商介紹及推廣該技術，而就此曹先生須同意(i)以象徵式代價每年1港元授予目標公司為期15年之全球獨家許可；及(ii)目標公司有權將專利分許可予其他廠房，以製造用於電動車之多元聚合物電池。

除將專利分許可予中盛以於中國製造用於電動車之多元聚合物電池外，賣方最終股東之角色為透過彼等之業務網絡向國際市場推廣專利。

專利權費之基準

專利權費乃根據與中盛之磋商釐定，而中盛確認，其可承擔用於電動車之多元聚合物電池之生產成本以外之專利權費。董事認為，專利權費乃按一般及商業條款訂立，而董事會認為專利權費屬公平合理，並符合本集團及股東之整體利益。

---------------------------------------------------------------------------------------------------------------

部份可換股票據條款

轉換價轉換價（視乎一般調整而定）為每股轉換股份0.28港元。初步轉換價每股轉換股份0.28港元較：

(a) 股份於最後交易日於聯交所所報之收市價每股股份0.285港元折讓約1.75%；及
(b) 股份於直至及包括最後交易日之最後五個交易日之平均收市價每股股份約0.287港元折讓約2.44%。

可換股票據之轉換價須受屬相同類別可換股證券標準條款之調整條文規限。因股份出現若干變動（包括（其中包括）股份合併或拆細、溢利或儲備資本化、現金或實物資本分派，或其後發行本公司證券），則將會作出調整。

董事會確認，轉換價乃經本公司與賣方經計及股票市場狀況及股份之現行市價後公平磋商達致。

重定轉換價倘於緊隨完成前第五個營業日（「重定日」）（包括該日）後最後五個連續交易日股份於聯交所所報之平均收市價（「重定價」）低於當時之可換股票據之轉換價，則可換股票據之轉換價可於重定日予以重定（倘有需要）。倘出現此情況，則可換股票據當時之轉換價將自下一營業日起下調至重定價，而在任何情況下，重定之轉換價不可低於每股0.18港元。最低重定價乃經參考於二零零九年九月三十日之每股資產淨值0.168港元（經其後來自集資活動之所得款項調整）後釐定。

本公司日後將於初步轉換價有任何變動（可換股票據轉換價之任何其後變動）時發表公告，以遵守上市規則項下之相關規定。

假設可換股票據按初步轉換價0.28港元悉數轉換為轉換股份，則將發行合共353,571,429股轉換股份（相當於本公司於本公告日期之已發行股本約58.61%及經配發及發行轉換股份擴大後之本公司已發行股本約36.95% ）。

假設可換股票據按最低重定價0.18港元悉數轉換為轉換股份，則將發行合共550,000,000股轉換股份（相當於本公司於本公告日期之已發行股本約91.18%及經配發及發行轉換股份擴大後之本公司已發行股本約47.69% ）

---------------------------------------------------------------------------------------------------------------

仲有條尾巴~~股本由10億股變100億股

增加法定股本
本公司建議透過增設每股面值為0.10港元之9,000,000,000股股份，將法定股本由100,000,000港元（分為每股面值0.10港元之1,000,000,000股股份）增加至1,000,000,000港元（分為每股面值0.10港元之10,000,000,000股股份）。

於股東特別大會上，將提呈一項普通決議案以批准增加法定股本。

4 : fung3010(2389)@2010-07-19 23:49:55

好累...明天繼續

5 : GS(14)@2010-07-19 23:56:01

http://zhuanli.baidu.com/pages/s ... f0bd071fd878_0.html

申请号/专利号： 200820067136
本实用新型一种多元素电动汽车专用电池。属于电动汽车技术领域，具体地是涉及一种安装在电动汽车上的二次充电电池。解决现有使用在摩车、电动汽车上的电池由于容量小、功率小、效率低，电池使用寿命短的问题。本实用新型包括外壳和电池内芯，电池内芯由正、负极片之间加隔膜相隔，负极片包住正极片叠加而成，再由塑料膜包裹装入外壳；在电池外壳的盖上固定有与盖绝缘的正、负极柱，正、负极柱分别与正、负极片电连接；在盖上正、负极柱之间安装有防爆阀。本实用新型具有寿命长，正常工作条件下充入电循环次数大于５００至１０００次，充电速度快，无记忆效应，自放电小，可长时间存放等优点。
申请日：   2008年05月08日
公开日：
授权公告日：   2009年03月04日
申请人/专利权人：   曹青山
申请人地址：   湖北省保康县后坪镇东流水湖北保康青山能源研究所
发明设计人：   曹青山
专利代理机构：
代理人：   樊灵芬
专利类型：   实用新型专利
分类号：   H01M10/04;B60L11/18

有埋Blog...
http://hi.baidu.com/zblzy/blog/item/6a7eff03ef7be2713812bb8f.html
保康农民发明家曹青山：成功发明电动汽车
时间： 2008-01-10 10:08:17 来源：武汉晨报【关闭】

曹青山喜获“中国经济十大创新人物奖”。（资料图片）

   2007年12月29日，在北京举行的2007中国经济人物颁奖盛典新闻发布会上，保康县一位农民被授予“2007中国经济十大创新人物”称号。

   他就是曹青山，这次颁奖典礼上唯一的湖北人。获奖原因是，这个仅有小学文化程度的农民，自主研发了能连续行驶500公里的电动汽车。

  农民当上发明家

   在保康县，曹青山是名人。1946年，他出生于保康县后坪镇东流水村，因为家贫，小学毕业后就回家务农。因为遇事总爱琢磨，喜欢对不合理的东西进行改进，曹青山从小就有一个绰号——“发明家”。

   为了解决发明中的理论难题，他自学大学有关机械、电子、光学的专业教材。他发明的太阳能热水器自动跟踪仪，获得1993年中国第二届专利技术（漳州）博览会和1994年世界（新加坡）科技博览会双重金奖，一时轰动全国。

   不过，最让曹青山痴迷的还是电动汽车。20多年来，他先后借用红旗轿车、东风日产轿车，拆下其汽油发动机，改装为电力驱动小汽车。如今，他的电动汽车技术日趋成熟，基本具备规模化、产业化条件。

　　一年当27次被告

   为了维持被人称为“不务正业”的发明创造，曹青山只好通过借贷来解决经费。

   借贷要还，还不上就得吃官司。1986年那一年，曹青山为债务问题先后当了27次被告，房屋多次被查封。几十年来，曹青山大部分时间都在借债还债、官司缠身中度过。1987年春节，卖掉房屋还债的曹青山只剩下30元钱，最后在母亲的帮助下，才租到房子勉强过了年。

   近几年，曹青山情况略有好转，他采用技术有偿转让、技术入股等方式，与企业合作开发产品，才偿还了历年来的债务。

   虽然日子过得很艰难，但这却没有动摇曹青山发明创造的决心。曹青山逢人就说：“发明已成为我生命的一部分！”

40岁上中专

   57岁成功发明电动汽车

   造出电动汽车是曹青山一直以来的梦想。1985年，他开始将蓄电池改装在“长江750”机动三轮车上，车子居然行走了几公里，可一到爬坡，车就熄火了。通过检查，他发现是动力能源不足的原因。

   如何解决动力能源不足的问题？对只有小学文化程度的曹青山来说，是一个难以逾越的知识坎。当时，年近40的曹青山来到河南南阳工业学校上学，他一边学习机械电力知识，一边在附近机修厂打工实践。

   2002年9月，曹青山终于使试验车上了路，续驶里程近30公里，并让电动汽车爬上了坡，拿到了广东商人陈北川的500万元投资。曹青山又开始嫁接改装 “红旗V6”。

   2003年3月，曹青山创立湖北青山电动汽车有限公司。当年，他电动汽车试验行程已达500公里。

   为见证他的成功，清华大学机械工程系教授赵大庆、清华大学STF科技研发中心实验室主任、高级工程师董民超，专门乘坐老曹的这辆电动汽车，从襄樊一路来到了保康。

   2006年4月18日，曹青山的纯电动汽车跨越湖北、河南和河北3省，顺利抵达北京。2006年5月8日，中国机动车辆安全鉴定检测中心出具检测结果：样车实测最大续驶里程为507公里；60公里时速的能量消耗率为百公里8.02度；最高行驶时速为102.7公里。　（记者汪文汉实习生何芸）

神奇曹青山电动客车充电一次跑800公里
http://hi.baidu.com/prodicom/blo ... e7283cafc3ab18.html

保康农民曹青山研发纯电动汽车的故事
http://hi.baidu.com/prodicom/blo ... 8b760b4c088d13.html

法国雅高集团大中华区业务发展经理曹青山参观、考察紫檀项目 2007-11-23　
http://hi.baidu.com/sofitel_pr/b ... 2d62d0fc1f1074.html

無言.........
http://www.taoguba.com.cn/Article/221585/1
   这几句话听着像是给骗子。也许是记者太烂。难道它的原理是电池给电动机供电驱动汽车然后汽车动了之后有惯性又带动发电机给电池充电？？？这不就是永动机么？

...

公司就在我家隔壁，起先县里领导很重视，搞了几年后，好像没什么动静了，连投资人都找不到
...
这个技术就是电动自行车的放大版,至于回收能量是可以的,比喻刹车.风力不是用永磁材料转换能量吗?
....

6 : knman(1010)@2010-07-20 00:54:39

5樓提及
http://zhuanli.baidu.com/pages/sipo/20082006/71/200ba09448c07b411760f0bd071fd878_0.html

申请号/专利号： 200820067136
本实用新型一种多元素电动汽车专用电池。属于电动汽车技术领域，具体地是涉及一种安装在电动汽车上的二次充电电池。解决现有使用在摩车、电动汽车上的电池由于容量小、功率小、效率低，电池使用寿命短的问题。本实用新型包括外壳和电池内芯，电池内芯由正、负极片之间加隔膜相隔，负极片包住正极片叠加而成，再由塑料膜包裹装入外壳；在电池外壳的盖上固定有与盖绝缘的正、负极柱，正、负极柱分别与正、负极片电连接；在盖上正、负极柱之间安装有防爆阀。本实用新型具有寿命长，正常工作条件下充入电循环次数大于５００至１０００次，充电速度快，无记忆效应，自放电小，可长时间存放等优点。
申请日： 2008年05月08日
公开日：
授权公告日： 2009年03月04日
申请人/专利权人：曹青山
申请人地址： 湖北省保康县后坪镇东流水湖北保康青山能源研究所
发明设计人：曹青山
专利代理机构：
代理人：樊灵芬
专利类型：实用新型专利
分类号： H01M10/04;B60L11/18

有埋Blog...
http://hi.baidu.com/zblzy/blog/item/6a7eff03ef7be2713812bb8f.html
保康农民发明家曹青山：成功发明电动汽车
时间： 2008-01-10 10:08:17 来源：武汉晨报【关闭】

曹青山喜获“中国经济十大创新人物奖”。（资料图片）

2007年12月29日，在北京举行的2007中国经济人物颁奖盛典新闻发布会上，保康县一位农民被授予“2007中国经济十大创新人物”称号。

他就是曹青山，这次颁奖典礼上唯一的湖北人。获奖原因是，这个仅有小学文化程度的农民，自主研发了能连续行驶500公里的电动汽车。

农民当上发明家

在保康县，曹青山是名人。1946年，他出生于保康县后坪镇东流水村，因为家贫，小学毕业后就回家务农。因为遇事总爱琢磨，喜欢对不合理的东西进行改进，曹青山从小就有一个绰号——“发明家”。

为了解决发明中的理论难题，他自学大学有关机械、电子、光学的专业教材。他发明的太阳能热水器自动跟踪仪，获得1993年中国第二届专利技术（漳州）博览会和1994年世界（新加坡）科技博览会双重金奖，一时轰动全国。

不过，最让曹青山痴迷的还是电动汽车。20多年来，他先后借用红旗轿车、东风日产轿车，拆下其汽油发动机，改装为电力驱动小汽车。如今，他的电动汽车技术日趋成熟，基本具备规模化、产业化条件。

　　一年当27次被告

为了维持被人称为“不务正业”的发明创造，曹青山只好通过借贷来解决经费。

借贷要还，还不上就得吃官司。1986年那一年，曹青山为债务问题先后当了27次被告，房屋多次被查封。几十年来，曹青山大部分时间都在借债还债、官司缠身中度过。1987年春节，卖掉房屋还债的曹青山只剩下30元钱，最后在母亲的帮助下，才租到房子勉强过了年。

近几年，曹青山情况略有好转，他采用技术有偿转让、技术入股等方式，与企业合作开发产品，才偿还了历年来的债务。

虽然日子过得很艰难，但这却没有动摇曹青山发明创造的决心。曹青山逢人就说：“发明已成为我生命的一部分！”

40岁上中专

57岁成功发明电动汽车

造出电动汽车是曹青山一直以来的梦想。1985年，他开始将蓄电池改装在“长江750”机动三轮车上，车子居然行走了几公里，可一到爬坡，车就熄火了。通过检查，他发现是动力能源不足的原因。

如何解决动力能源不足的问题？对只有小学文化程度的曹青山来说，是一个难以逾越的知识坎。当时，年近40的曹青山来到河南南阳工业学校上学，他一边学习机械电力知识，一边在附近机修厂打工实践。

2002年9月，曹青山终于使试验车上了路，续驶里程近30公里，并让电动汽车爬上了坡，拿到了广东商人陈北川的500万元投资。曹青山又开始嫁接改装 “红旗V6”。

2003年3月，曹青山创立湖北青山电动汽车有限公司。当年，他电动汽车试验行程已达500公里。

为见证他的成功，清华大学机械工程系教授赵大庆、清华大学STF科技研发中心实验室主任、高级工程师董民超，专门乘坐老曹的这辆电动汽车，从襄樊一路来到了保康。

2006年4月18日，曹青山的纯电动汽车跨越湖北、河南和河北3省，顺利抵达北京。2006年5月8日，中国机动车辆安全鉴定检测中心出具检测结果：样车实测最大续驶里程为507公里；60公里时速的能量消耗率为百公里8.02度；最高行驶时速为102.7公里。　（记者汪文汉实习生何芸）

神奇曹青山电动客车充电一次跑800公里
http://hi.baidu.com/prodicom/blo ... e7283cafc3ab18.html

保康农民曹青山研发纯电动汽车的故事
http://hi.baidu.com/prodicom/blo ... 8b760b4c088d13.html

法国雅高集团大中华区业务发展经理曹青山参观、考察紫檀项目 2007-11-23　
http://hi.baidu.com/sofitel_pr/b ... 2d62d0fc1f1074.html

無言.........
http://www.taoguba.com.cn/Article/221585/1
这几句话听着像是给骗子。也许是记者太烂。难道它的原理是电池给电动机供电驱动汽车然后汽车动了之后有惯性又带动发电机给电池充电？？？这不就是永动机么？

...

公司就在我家隔壁，起先县里领导很重视，搞了几年后，好像没什么动静了，连投资人都找不到
...
这个技术就是电动自行车的放大版,至于回收能量是可以的,比喻刹车.风力不是用永磁材料转换能量吗?
....

今朝都有d心動,1.7億買到個"咁好"的專利...但見佢5月單野,都係唔入la,
睇完最後條link....好在無入...因為"勁量"會好過佢...佢e項真係"專利",無人用....
旅遊巴用"2吨"電池......令我回憶細個玩的4驅車....

7 : fung3010(2389)@2010-07-20 09:07:30

目前個人傾向986唔係好野.....原因如下:

1.) 6條友已先配股拎左2億股，集資8千萬。之後再發200,000,000.00港元之可換股債券。(現價可換6億幾股) 再加埋收購發行個3億幾，加埋已經10億股。連同現有6億已發行新股，已經16億股，係現時己發行股份既2.X倍.....小股東股份將被嚴重稀釋(在小股東手上既大慨得1億股)....加上有新CONCEPT，隨時又要再集資大搞.....到時比錢又死，唔比錢又死

2.) 986甩左死皮後，主要產能會無哂，得番個殼。如果佢有心做生意既，即係話個電池專利就係佢既"全世界"。

3.) 但奇就奇在佢只有目標公司既9.9%股權，連附屬公司既收入都無埋，佢食咩?

4.) 舊電睇黎得個樣.....之多元聚合物電池原料係咩都唔知......但照睇佢既件頭，我懷疑屬大塊頭既鉛酸類

其他做完RESEARCH再講。但目前睇，唔係986老千就係笨7

8 : GS(14)@2010-07-20 21:04:37

1.7億只是買約10%，剩下90%買埋先有用，我想只是之前付給他們的按金拿不回，只是想有東西炒下之餘，自己想拿番D所謂地下的沙，橫豎多印公仔紙不用錢。

9 : fung3010(2389)@2010-07-20 21:30:29

8樓提及
1.7億只是買約10%，剩下90%買埋先有用，我想只是之前付給他們的按金拿不回，只是想有東西炒下之餘，自己想拿番D所謂地下的沙，橫豎多印公仔紙不用錢。

但最奇怪係佢賣哂公司D架生比大股東.....唔通真係諗住食穀種??!!

10 : GS(14)@2010-07-20 21:35:32

9樓提及
8樓提及
1.7億只是買約10%，剩下90%買埋先有用，我想只是之前付給他們的按金拿不回，只是想有東西炒下之餘，自己想拿番D所謂地下的沙，橫豎多印公仔紙不用錢。

但最奇怪係佢賣哂公司D架生比大股東.....唔通真係諗住食穀種??!!

前面是為了大股東退出，因為他公司財務很差，經營困難，應早有賣殼的念頭，詹先生的角色屬於中間人，買入前大股東權益後，然後就搞花樣，炒高股價之後就走。

11 : GS(14)@2010-11-05 00:21:53

http://www.hkexnews.hk/listedco/ ... N201011041080_C.pdf
主要交易：
出售物業
及
恢復買賣

12 : GS(14)@2010-11-05 22:04:20

12樓提及
http://www.hkexnews.hk/listedco/listconews/sehk/20101104/LTN20101104338_C.pdf
市值才1億今天暴跌加上極大成交?意欲為何?請問?

人地散貨啦，小心睇車...隻股賣殼畀D不尋常的財技人/..

13 : yck(4313)@2010-11-08 21:18:21

一直延期

14 : GS(14)@2010-11-08 21:23:53

14樓提及
一直延期

睇來問題不簡單

15 : GS(14)@2010-11-16 00:43:56

http://www.hkexnews.hk/listedco/ ... TN20101115034_C.pdf
涉及發行可換股票據
之可能主要交易

16 : yck(4313)@2010-11-19 20:44:47

有收購﹗
http://www.hkexnews.hk/listedco/ ... TN20101119469_C.pdf

17 : GS(14)@2010-11-19 20:48:22

17樓提及
有收購﹗
http://www.hkexnews.hk/listedco/ ... TN20101119469_C.pdf

今次玩回收...

於二零一零年十一月十九日（於交易時段後），本公司（作為買方）就可能收購目標公司之80%已發行股本而與四名人士（作為賣方）訂立框架協議。目標公司透過其附屬公司主要於中國從事廢紙、廢金屬及生活性廢料之回收業務。

...

根據可能收購之框架協議，賣方已授出由可能收購之框架協議日期起計三個月之獨家期間，在期間內賣方不得就可能收購與任何其他第三方進行磋商（「獨家權利」）。賣方或彼等之代表須保證，倘本公司與賣方訂立正式協議，則項目公司截至二零一一年十二月三十一日止年度之除稅後溢利將不少於人民幣50,000,000元（「溢利保證」）。

....

目標公司及其附屬公司之資料目標公司（一間根據英屬處女群島法律註冊成立之公司）持有香港公司之全部權益。香港公司（一間根據香港法律註冊成立之公司）持有外商獨資企業（一間根據中國法律註冊成立之外商獨資企業）之全部權益。外商獨資企業為項目公司全部法定及實益權益之擁有人，而項目公司為一間根據中國法律註冊成立之公司，主要從事廢紙、廢金屬及生活性廢料之回收業務。

根據賣方所提供之資料，項目公司於截至二零零八年十二月三十一日止年度錄得未經審核收益、除稅前溢利╱（虧損）及除稅後溢利╱（虧損）約人民幣19,060,000元、人民幣(2,400,000)元及人民幣(2,400,000)元，而於截至二零零九年十二月三十一日止年度則約為人民幣241,940,000元、人民幣19,780,000元及人民幣16,690,000元。

...

「香港公司」指Topbright International Group Holdings Limited，一間根據香港法律註冊成立之公司

....

「項目公司」指蘇州百納再生資源有限公司，一間根據中國法律註冊成立之公司

18 : yck(4313)@2010-11-19 20:50:12

賺緊

截至二零零九年十二月三十一日止年度則約為人民幣241,940,000元、人民幣19,780,000元及人民幣16,690,000元。

19 : GS(14)@2010-11-26 11:19:50

http://www.hkexnews.hk/listedco/ ... TN20101125586_C.pdf

986's result

20 : GS(14)@2011-01-04 00:47:25

http://www.hkexnews.hk/listedco/ ... N201101031273_C.pdf
延長配售協議及所得款項用途

所得款項用途
該通函已載述，假設可換股債券獲悉數配售，配售事項之所得款項淨額估計約為193,200,000港元，其中最多50%將主要用於為收購事項提供資金，而餘額將用作本集團之一般營運資金、正常發展及收購活動所需以及其他一般公司開支。

倘可換股債券未獲悉數配售，最多100,000,000港元之所得款項淨額將主要用於為收購事項提供資
金及餘額（如有）將用作本集團之一般營運資金、正常發展及收購活動所需以及其他一般公司開支。

誠如本公司日期為二零一零年十二月三十一日之公告所披露，本公司已發行本金額為99,000,000港元之可換股票據以償付收購事項之代價。因此，配售事項之所得款項毋須再用作為收購事項提供資金。因此，配售事項之全部所得款項已並將用作本集團之一般營運資金、正常發展及收購活動所需以及其他一般公司開支。

配售本金額為110,000,000港元之可換股債券之所得款項淨額中之50,000,000港元已用作本公司日期為二零一零年十一月十九日之公告所披露之潛在收購回收業務（「回收業務」）之可退還按金，而餘額將用於為回收業務、其他可能收購提供資金及用作一般營運資金。

本公司建議將本金額為90,000,000港元之將予配售之餘下可換股債券之所得款項淨額用於為回收業務、其他可能收購提供資金及用作一般營運資金。

一份載有有關延長配售協議及所得款項用途之資料連同股東特別大會通告之通函將於切實可行情況下盡快寄發予本公司股東。

21 : GS(14)@2011-01-26 21:53:14

http://www.hkexnews.hk/listedco/ ... TN20110126456_C.pdf
好人頭feel

22 : GS(14)@2011-01-26 22:38:32

http://www.hkexnews.hk/listedco/ ... TN20110126133_C.pdf
南興集團有限公司（「本公司」）之董事會（「董事會」）注意到今天本公司之股份（各自
為一股「股份」）價格及成交量有所上升，並謹此聲明，董事會並不知悉導致有關波動
之任何原因。本公司現正考慮一項可能集資活動。

23 : sunshine(3090)@2011-01-27 22:00:14

集資是否和986 和譚先生的 poly strategic 早排話用$0.1收購1063的可換股債券有關?

24 : GS(14)@2011-01-27 22:03:21

24樓提及
集資是否和986 和譚先生的 poly strategic 早排話用$0.1收購1063的可換股債券有關?

應該有關，因為要駛公司錢嘛，用番D人頭接貨當然要...
算啦，唔好玩咁多，玩少D，輸少D

25 : sunshine(3090)@2011-01-27 22:05:39

唔買986，買1063是否有得唸

26 : GS(14)@2011-01-27 22:14:53

26樓提及
唔買986，買1063是否有得唸

點解仲要玩呢D街頭騙局，好好做好分析啦，炒過又成交大，一隻都唔好玩

27 : greatsouptest(4320)@2011-02-01 01:38:36

南興供股最多籌2.12億元明復牌
【22:48】2011年01月31日

【on.cc 東方互動專訊】南興(00986) 公布，建議將該公司已發行股本中每16股每股面值0.1元之股份合併為已發行股本中1股每股面值1.6元之已發行合併股份之股份合併，另建議按1股供26 股進行供股，涉發30.3億至31.2億股，每股供股價為0.068元，或較停牌前作價0.059元(16合1後為0.944元)折讓達92.8%，集資約2.06至2.12億元，擬將供股所得款項淨額用於為可能收購中國之回收業務、一般公司營運資金、降低集團負債及日後投資機會提供資金。該股明復牌。

此外，董事會建議將該公司之英文名稱由「Nam Hing Holdings Limited 」更改為「China Environmental Energy Investment Limited 」，並採納中文名稱「中國環保能源投資」以僅供識別，以取代現有中文名稱「南興集團」。

28 : 草帽(1253)@2011-02-01 12:52:25

黎料, 準備短炒. smiley

29 : greatsouptest(4320)@2011-02-01 14:33:24

29樓提及
黎料, 準備短炒.

later, not now.

30 : GS(14)@2011-02-01 21:03:27

金江證券啊，大家唔驚?

31 : greatsouptest(4320)@2011-02-01 21:40:03

都係個0的招數, 係有0的驚, 睇位小小地玩0下.

32 : GS(14)@2011-02-01 21:47:28

最怕他剛剛炒到那些位然後跌

33 : GS(14)@2011-02-04 13:12:11

28樓提及
南興供股最多籌2.12億元明復牌
【22:48】2011年01月31日

【on.cc 東方互動專訊】南興(00986) 公布，建議將該公司已發行股本中每16股每股面值0.1元之股份合併為已發行股本中1股每股面值1.6元之已發行合併股份之股份合併，另建議按1股供26 股進行供股，涉發30.3億至31.2億股，每股供股價為0.068元，或較停牌前作價0.059元(16合1後為0.944元)折讓達92.8%，集資約2.06至2.12億元，擬將供股所得款項淨額用於為可能收購中國之回收業務、一般公司營運資金、降低集團負債及日後投資機會提供資金。該股明復牌。

此外，董事會建議將該公司之英文名稱由「Nam Hing Holdings Limited 」更改為「China Environmental Energy Investment Limited 」，並採納中文名稱「中國環保能源投資」以僅供識別，以取代現有中文名稱「南興集團」。

http://www.hkexnews.hk/listedco/ ... TN20110131746_C.pdf
補番張公告

34 : GS(14)@2011-02-10 22:58:03

http://www.hkexnews.hk/listedco/ ... TN20110210593_C.pdf
終止收購新確科技有限公司之
所有已發行證券之可能自願現金要約

35 : akwok(6448)@2011-02-10 23:00:28

35樓提及
http://www.hkexnews.hk/listedco/listconews/sehk/20110210/LTN20110210593_C.pdf
終止收購新確科技有限公司之
所有已發行證券之可能自願現金要約

咁即係點?
收購行動取消?

36 : GS(14)@2011-02-10 23:01:57

36樓提及
35樓提及
http://www.hkexnews.hk/listedco/listconews/sehk/20110210/LTN20110210593_C.pdf
終止收購新確科技有限公司之
所有已發行證券之可能自願現金要約

咁即係點?
收購行動取消?

Yes

37 : akwok(6448)@2011-02-10 23:07:26

37樓提及
36樓提及
35樓提及
http://www.hkexnews.hk/listedco/listconews/sehk/20110210/LTN20110210593_C.pdf
終止收購新確科技有限公司之
所有已發行證券之可能自願現金要約

咁即係點?
收購行動取消?

Yes

咁你估佢會唔會取消埋合供股呢?
定趁機抽水?

38 : GS(14)@2011-02-10 23:07:54

38樓提及
37樓提及
36樓提及
35樓提及
http://www.hkexnews.hk/listedco/listconews/sehk/20110210/LTN20110210593_C.pdf
終止收購新確科技有限公司之
所有已發行證券之可能自願現金要約

咁即係點?
收購行動取消?

Yes

咁你估佢會唔會取消埋合供股呢?
定趁機抽水?

當然繼續抽啦

39 : uptowai(7380)@2011-03-04 13:36:39

呢兩日炒上,係咪引羊仔入局供股呢??

40 : kaipplppl(7299)@2011-03-04 14:24:24

d人收左一排貨, 收到乾一乾, 引埋間中資證券行出埋d貨就炒上黎散水
有人食飽左

41 : GS(14)@2011-03-04 22:34:45

40樓提及
呢兩日炒上,係咪引羊仔入局供股呢??

都好明顯啦，329都有試過

42 : kaipplppl(7299)@2011-03-04 23:54:19

42樓提及
40樓提及
呢兩日炒上,係咪引羊仔入局供股呢??

都好明顯啦，329都有試過

好野在炒返上個供股價就收手
星期一高開5,6格之後狂派落5仙樓下收市,散仔接左供又死唔供又無命

43 : uptowai(7380)@2011-03-05 09:11:30

其實我唔明.. 點解明知係老千局仲有咁多死士..?? 博有多20-30%升幅?

0.066 16合一 =1.056

一供26 @0.068 =1.768

如果供仲要比多1.7倍錢..但供完都只會係一個方向..

如果唔供.. 我諗個莊都唔會咁好死比你再有機會靚位走到貨最後都係輸番突...

真係慘不忍睹..

44 : GS(14)@2011-03-05 11:22:04

44樓提及
其實我唔明.. 點解明知係老千局仲有咁多死士..?? 博有多20-30%升幅?

0.066 16合一 =1.056

一供26 @0.068 =1.768

如果供仲要比多1.7倍錢..但供完都只會係一個方向..

如果唔供.. 我諗個莊都唔會咁好死比你再有機會靚位走到貨最後都係輸番突...

真係慘不忍睹..

就是咁，他們以為仙股平嘛，易炒起，少少玩下無事....莊是唔會輸，供股的錢，他隨時可以拿走

45 : GS(14)@2011-04-16 12:48:54

http://www.hkexnews.hk/listedco/ ... TN20110415770_C.pdf
換個不知名核數師

46 : 估民(6429)@2011-04-26 21:01:41

http://iis.aastocks.com/20110426/001194544-0.PDF
根據可換股債券之條款，可換股債券之兌換價已因供股而由每股股份2.88港元調整
為每股股份0.343港元，有幾多股會換到出黎？
又係金江包銷 smiley

47 : GS(14)@2011-04-26 21:12:37

47樓提及
http://iis.aastocks.com/20110426/001194544-0.PDF
根據可換股債券之條款，可換股債券之兌換價已因供股而由每股股份2.88港元調整
為每股股份0.343港元，有幾多股會換到出黎？

http://www.hkexnews.hk/listedco/ ... TN20110404224_C.pdf
這批CB得1,000萬多一點，都是換到大約2,985.4萬股的

反而那批9,000萬CB，攤薄作用更大

48 : 估民(6429)@2011-04-26 21:17:52

48樓提及
47樓提及
http://iis.aastocks.com/20110426/001194544-0.PDF
根據可換股債券之條款，可換股債券之兌換價已因供股而由每股股份2.88港元調整
為每股股份0.343港元，有幾多股會換到出黎？

http://www.hkexnews.hk/listedco/ ... TN20110404224_C.pdf
這批CB得1,000萬多一點，都是換到大約2,985.4萬股的

反而那批9,000萬CB，攤薄作用更大

\未換應該無份供？

49 : GS(14)@2011-04-26 21:20:21

49樓提及
48樓提及
47樓提及
http://iis.aastocks.com/20110426/001194544-0.PDF
根據可換股債券之條款，可換股債券之兌換價已因供股而由每股股份2.88港元調整
為每股股份0.343港元，有幾多股會換到出黎？

http://www.hkexnews.hk/listedco/ ... TN20110404224_C.pdf
這批CB得1,000萬多一點，都是換到大約2,985.4萬股的

反而那批9,000萬CB，攤薄作用更大
\未換應該無份供？

是，他們無換到，所以無供

50 : 估民(6429)@2011-04-26 21:37:43

e家個股價係未合？到時合左，佢隨時換黎沽都賺死？

51 : GS(14)@2011-04-26 21:38:23

51樓提及
e家個股價係未合？到時合左，佢隨時換黎沽都賺死？

原本是18仙，合完變2.88元，除權後變34.3仙

我想他們不會換的啦

52 : 估民(6429)@2011-04-26 21:41:25

個9千股cb換的機會大？

53 : fineram(806)@2011-04-26 21:41:41

原來可以跌得咁急.

明天出來了, 供了股的人真怕怕呢

54 : GS(14)@2011-04-26 21:50:02

53樓提及
個9千股cb換的機會大？

那個真是大一點

55 : GS(14)@2011-04-26 21:50:50

54樓提及
原來可以跌得咁急.

明天出來了, 供了股的人真怕怕呢

人地T-2先沽，當然快啦，得番0.2仙，真是唔知點

56 : 估民(6429)@2011-04-26 21:53:57

56樓提及
54樓提及
原來可以跌得咁急.

明天出來了, 供了股的人真怕怕呢

人地T-2先沽，當然快啦，得番0.2仙，真是唔知點

今日3億幾股成交好嚇人 smiley

57 : GS(14)@2011-04-26 21:54:24

57樓提及
56樓提及
54樓提及
原來可以跌得咁急.

明天出來了, 供了股的人真怕怕呢

人地T-2先沽，當然快啦，得番0.2仙，真是唔知點

今日3億幾股成交好嚇人

仲有幾十億未出來

58 : 估民(6429)@2011-04-26 21:56:20

58樓提及
57樓提及
56樓提及
54樓提及
原來可以跌得咁急.

明天出來了, 供了股的人真怕怕呢

人地T-2先沽，當然快啦，得番0.2仙，真是唔知點

今日3億幾股成交好嚇人

仲有幾十億未出來

好似得佢合、供，無爆上？

59 : GS(14)@2011-04-26 21:56:47

好似又係，可能都是補貨

60 : 估民(6429)@2011-04-26 21:58:12

60樓提及
好似又係，可能都是補貨

質低佢補貨？補夠貨炒番上供股價？

61 : GS(14)@2011-04-26 22:00:53

61樓提及
60樓提及
好似又係，可能都是補貨

質低佢補貨？補夠貨炒番上供股價？

都唔使炒，人地幾十仙買的貨補番嘛，現在又有彈藥向下炒了...

62 : GS(14)@2011-05-03 22:21:06

http://www.hkexnews.hk/listedco/ ... N201105031349_C.pdf
改名做中國環保能源

63 : GS(14)@2011-05-05 22:47:21

http://www.hkexnews.hk/listedco/ ... TN20110505359_C.pdf
贖回CB

64 : GS(14)@2011-05-10 16:24:07

http://www.hkexnews.hk/listedco/ ... TN20110509127_C.PDF
買垃圾

65 : GS(14)@2011-05-16 22:32:29

http://www.hkexnews.hk/listedco/ ... TN20110516468_C.pdf
財技得過份的收購

(ii) 賣方： Lucky Start Holdings Limited，一間於英屬處女群島註冊成立之有限公司，並由趙真真女士全資實益擁有
All Prosper Group Limited，一間於英屬處女群島註冊成立之有限公司，並由黃詩聰先生全資實益擁有
Triumph Return Holdings Limited，一間於英屬處女群島註冊成立之有限公司，並由吳曉英女士全資擁有及由許國釗先生實益擁有
Jia Sheng Holdings Limited，一間於英屬處女群島註冊成立之有限公司，並由陸衛康先生全資擁有及由唐國明先生（「唐先生」）實益擁有

(i) 銷售股份（即目標公司之80%已發行股本）將由賣方按下列比例出售：
銷售股份數目
於目標公司
之股權
Lucky Start Holdings Limited 144 48%
All Prosper Group Limited 36 12%
Triumph Return Holdings Limited 20 約6.7%
Jia Sheng Holdings Limited 40 約13.3%
總計： 240 80%

8.5億代價中，其中3億為現金，3.1億為現金及票據，2.4億為票據...

10.625億買這間公司，這間公司如何呢?

代價相當於根據目標集團截至二零一零年十二月三十一日止年度之除稅後溢利淨額約人民幣27,160,000元（相等於約32,330,000港元）之80%）計算之約32.86倍之過往市盈率，其高於其他從事回收業務之香港上市可資比較公司之平均數，但低於其他從事回收業務之中國上市可資比較公司之平均數。

溢利保證
根據買賣協議，賣方已向本公司承諾及擔保，項目公司於本公司核數師按照香港財務
報告準則將予編製之項目公司之會計師報告所示之自二零一一年四月一日至二零一二年三月三十一日期間之除稅後溢利淨額將不少於人民幣55,000,000元（「溢利保證」）。

由於銷售股份佔目標公司已發行股本之80%，故訂約方已協定，本金額為52,000,000港元（按1港元兌人民幣0.84元之匯率計算相等於溢利保證之80%）之或然票據將寄存於本公司將予委任之託管代理（現時預期為本公司之法律顧問）並由其以託管方式持有，作為溢利保證之抵押。

66 : GS(14)@2011-06-08 23:02:59

http://www.hkexnews.hk/listedco/ ... TN20110608500_C.pdf
董事會宣佈，自二零一一年六月八日起：
(1) 丘鈞山先生已辭任本公司之獨立非執行董事及審核委員會主席；
(2) 王正華先生已獲委任為本公司之非執行董事；及
(3) 陳英祺先生已獲委任為本公司之獨立非執行董事及審核委員會主席。

陳先生擁有逾20年會計及財務經驗。彼現時為銀創控股有限公司（一間於聯交所主板上市之公司；股份代號：706）之公司秘書及財務總監。於加入銀創控股有限公司前，彼曾擔任百威國際控股有限公司（「百威」，一間於聯交所主板上市之公司；股份代號：718）之執行董事兼公司秘書。於任職百威期間，陳先生、百威與百威若干其他相關董事於二零零二年就百威無法如期刊發其截至二零零零年三月三十一日止年度之年報；無法如期舉行其截至二零零零年三月三十一日止年度之股東週年大會；以及無法如期刊發其截至二零零零年九月三十日止六個月之中期業績而被聯交所公開譴責。有關公開譴責之進一步詳情載列於聯交所日為二零零二年九月十七日之新聞稿，該新聞稿刊載於聯交所網站。

陳先生現時亦為東星能源集團有限公司（一間於聯交所主板上市之公司；股份代號：
668）之獨立非執行董事

67 : CHAUCHAU(1254)@2011-06-28 22:49:37

http://www.hkex.com.hk/chi/marke ... /PMI2011-127(C).pdf
10股合併為1股，將於生效日期（2011年6月30日）
986
股份代號改為02933

68 : GS(14)@2011-07-01 00:24:33

http://www.hkexnews.hk/listedco/ ... TN20110630917_C.pdf
明賺實蝕，半殼

13. 其他應收款、預付款及已付按金
於二零一一年三月三十一日之其他應收款、預付款及已付按金已計入就回收業務之可能非常重大收購事項而已支付之可退還按金96,000,000港元以及自出售蘇州之土地及廠房產生之應收款項人民幣50,005,330元。

此外，在缺乏相關會計記錄及支持文件之情況下，吾等未能確定貴集團於二零一零
年四月一日之資產及負債以及累計虧損之期初結餘是否準確結轉自上一會計期間，
這令吾等未能確定該等資產、負債及累計虧損以及相關披露資料是否於綜合財務報
表內作準確記錄及入賬。

任何發現可能須對貴集團於二零一零年四月一日之資產、負債及累計虧損之期初
結餘作出之調整或會影響貴集團截至二零一一年及二零一零年三月三十一日止年
度之業績及綜合財務報表內之相關披露資料。

未能發表意見
由於未能發表意見之基準一節所述之事宜關係重大，故吾等未能對綜合財務報表是
否已根據香港財務報告準則真實而公平地反映貴集團於二零一一年三月三十一日之
財務狀況及貴集團截至該日止年度之虧損及現金流量發表意見。吾等認為，在任何
其他方面，綜合財務報表均已按照香港公司條例之披露規定妥為編製。

69 : GS(14)@2011-10-09 20:54:02

http://www.hkexnews.hk/listedco/ ... TN20111009018_C.pdf
天行配售1.1億票據，估計一半已有人訂購...換股價11仙，換股後，最大認購人剛巧成為不超過30%持股之大股東

70 : GS(14)@2011-10-09 20:54:27

配售事項：配售代理已有條件同意於配售期內按盡力基準促使承配人按配售價認購本金總額最多為110,000,000港元之可換股票據。可換股票據將由配售代理分兩批配售，各自本金總額為55,000,000港元及以1,000,000港元之完整倍數配售。

71 : CHAUCHAU(1254)@2011-11-14 19:38:56

http://www.hkexnews.hk/listedco/ ... TN20111114208_C.pdf
本集團預計截至二零一一年九月三十日止六個月
期間將較二零一零年同期錄得大幅增加之重大虧損。該增加之虧損乃主要由於因環
球投資市況低迷而確認之可供出售投資減值虧損以及就收購事項、財務顧問費用及
其他法律及專業費用引致之成本增加所致。

72 : greatsoup38(830)@2012-06-02 13:24:23

http://www.hkexnews.hk/listedco/ ... N201206011228_C.pdf
又玩番D舊華匯橋，又創新先河

本公告乃根據上市規則第13.09(1)條而作出。
於二零一二年六月一日（交易時段後），本公司與配售代理訂立配售協議，據此，配售代理已有條件同意按盡力基準促使承配人認購最多本金額為200,000,000港元之不可換股債券。
假設所有不可換股債券已獲成功配售，配售事項之所得款項總額將約為200,000,000港元，而配售事項之估計所得款項淨額將約為194,000,000港元。配售事項之所得款項淨額擬用於：
(i)不多於10%之所得款項用作本集團之一般營運資金（包括但不限於本集團於收購事項完成後之營運資金）；
及(ii)不少於90%之所得款項用作償還本公司於收購事項完成時發行之尚未償還承兌票據及可換股票據，有關詳情載於本公告「進行配售事項之理由及所得款項用途」一段。

...
進行配售事項之理由及所得款項用途
本集團現時從事買賣及生產印刷線路板及於電動車電池業務之投資，並將於收購事
項完成後從事廢紙回收業務。
誠如收購事項通函所披露，董事認為，經計及其內部資源及經擴大集團目前可動用之
貸款融資，於收購事項完成後，經擴大集團將並無足夠營運資金應付其目前所需（即
由收購事項通函日期起計最少未來十二個月）。鑑於上述情況，倘任何適合集資機會
湧現時，本公司將考慮採用適當股本融資方法以於未來支付收購事項之代價（即償還
於收購事項完成時發行之尚未償還承兌票據及可換股票據）及供本集團未來發展，並
改善經擴大集團之財務狀況。
收購事項已於二零一一年十一月四日完成。
誠如可換股票據通函所披露，本公司建議配售一系列最多本金總額為110,000,000港
元之可換股票據。於二零一二年六月一日，已集資77,000,000港元。由於市況不利，該
等可換股票據之配售期已延長至二零一二年六月三十日。
鑑於市況不利，董事認為，到期日大幅較於完成收購事項時發行之承兌票據之到期日
及可換股票據之屆滿日期為長之不可換股債券之配售事項可舒緩本集團之營運資金
需要。董事認為，配售協議乃由本公司與配售代理經公平磋商後按正常商業條款訂
立，而配售協議之條款屬公平合理，並符合本公司及股東之整體利益。

進行配售事項之理由及所得款項用途
本集團現時從事買賣及生產印刷線路板及於電動車電池業務之投資，並將於收購事
項完成後從事廢紙回收業務。
誠如收購事項通函所披露，董事認為，經計及其內部資源及經擴大集團目前可動用之
貸款融資，於收購事項完成後，經擴大集團將並無足夠營運資金應付其目前所需（即
由收購事項通函日期起計最少未來十二個月）。鑑於上述情況，倘任何適合集資機會
湧現時，本公司將考慮採用適當股本融資方法以於未來支付收購事項之代價（即償還
於收購事項完成時發行之尚未償還承兌票據及可換股票據）及供本集團未來發展，並
改善經擴大集團之財務狀況。
收購事項已於二零一一年十一月四日完成。
誠如可換股票據通函所披露，本公司建議配售一系列最多本金總額為110,000,000港
元之可換股票據。於二零一二年六月一日，已集資77,000,000港元。由於市況不利，該
等可換股票據之配售期已延長至二零一二年六月三十日。
鑑於市況不利，董事認為，到期日大幅較於完成收購事項時發行之承兌票據之到期日
及可換股票據之屆滿日期為長之不可換股債券之配售事項可舒緩本集團之營運資金
需要。董事認為，配售協議乃由本公司與配售代理經公平磋商後按正常商業條款訂
立，而配售協議之條款屬公平合理，並符合本公司及股東之整體利益。

「配售代理」指富通證券有限公司，一間根據證券及期貨條例可從事第
1類受規管活動之持牌法團

73 : greatsoup38(830)@2012-06-02 13:26:00

http://www.sfc.hk/sfcprd/eng/pr/ ... =AAE617&applNo=0003
富通

74 : GS(14)@2012-06-28 00:22:22

http://www.hkexnews.hk/listedco/ ... TN20120626583_C.pdf
767 認 986 CB

於二零一二年六月二十六日（交易時段後），發行人與認購人訂立認購協議，據此，
發行人已有條件同意發行，而認購人已有條件同意以現金認購本金總額95,000,000
港元之可換股票據。於可換股票據之條款及條件規限下，其可轉換為轉換股份。

...
可換股票據之主要條款
可換股票據之主要條款概要如下：
本金總額： 95,000,000港元
認購價：可換股票據本金額之100%
初步轉換價：轉換價須為發行人股份於完成日期前之五(5)個連續交易日
之平均收市價，惟轉換價於任何情況下將不可多於每股轉換
股份0.11港元或少於0.01港元。
最低轉換價0.01港元較：
i. 發行人股份於最後交易日所報之收市價每股0.031港元
折讓約67.74%；及
ii. 發行人股份於後交易日五(5)個連續交易日（包括該
日）於聯交所所報之平均收市價每股0.0304港元折讓約
67.11%。
最高轉換價0.11港元較：
i. 發行人股份於最後交易日所報之收市價每股0.031港元
溢價約254.84%；及
ii. 發行人股份於後交易日五(5)個連續交易日（包括該
日）於聯交所所報之平均收市價每股0.0304港元溢價約
261.84%。
...
轉換股份：
轉換股份將於所有方面與於配發及發行有關發行人股份當日之已發行發行人股份
享有同等權益。假設發行可換股票據已完成及(i)根據最高轉換價每股轉換股份0.11
港元計算，倘可換股票據所附帶之轉換權獲悉數行使時將予配發及發行最少數目之
863,636,363股轉換股份，相當於發行人於本聯合公告日期之已發行股本約60.28%及
發行人經悉數配發及發行轉換股份擴大後之已發行股本約37.61%；及(ii)根據最低轉
換價每股轉換股份0.01港元計算，倘可換股票據所附帶之轉換權獲悉數行使時將予
配發及發行最多數目之9,500,000,000股轉換股份，相當於發行人於本聯合公告日期之
已發行股本約663.07%及發行人經悉數配發及發行轉換股份擴大後之已發行股本約
86.89%。

...
發行人
發行人集團主要從事買賣及製造印刷線路板以及投資於電動車電池業務及廢紙回收
業務。
誠如收購通函所披露，發行人董事認為，經計及其內部資源及於收購事項完成後經擴
大發行人集團目前可供動用之信貸融資，經擴大發行人集團將不會擁有足夠營運資
金以滿足其目前所需，即自收購通函日期起計至少未來十二個月所需。鑑於上述者，
發行人將於任何合適集資機會湧現時考慮使用適當股本融資方法，以於日後支付收
購事項之代價（即償還尚未償還承兌票據及於收購事項完成時發行之可換股票據）及
發展經擴大發行人集團以及改善經擴大發行人集團之財務狀況。
收購事項已於二零一一年十一月四日完成。誠如配售可換股票據通函所披露，本公司
建議配售本金總額最多達110,000,000港元之一系列可換股票據。於本聯合公告日期，
已透過上述配售集資77,000,000港元。
鑑於不利市況，發行人董事認為，由於認購事項之到期日大幅遲於根據收購事項發行
之承兌票據之到期日（即二零一二年十一月七日），故認購事項將緩解本集團之營運
資金需求。於本聯合公告日期，上述承兌票據本金額221,000,000港元仍尚未償還。
發行人已於二零一二年六月一日就按盡力基準配售本金額最多為200,000,000港元之
不可換股債券與富通證券有限公司訂立配售協議。然而，於本聯合公告日期，配售代
理尚未物色任何合適承配人，故發行人董事決定進行認購事項。
認購事項集資所得款項總額將約為95,000,000港元。認購事項之所得款項淨額將約為
94,000,000港元。發行人擬將認購事項之所得款項其中(i)不超過10%之所得款項用作
發行人集團之一般營運資金，包括但不限發行人集團之營運資金；及(ii)不少於90%之
所得款項用於償還於二零一二年十一月到期之本金額為221,000,000港元之尚未償還
承兌票據。倘有關承兌票據持有人同意延遲承兌票據之到期日，則所得款項將用於尋
求為發行人集團將予物色之其他投資機會提供資金。
發行人董事認為，認購協議乃於發行人與認購人公平磋商後按一般商業條款訂立，而
認購協議之條款屬公平合理，並符合發行人及發行人股東之整體利益。
...
認購人
認購人集團主要從事借貸及提供信貸業務、提供企業秘書及諮詢服務以及證券投資
業務。
認購人董事認為，認購事項將可令認購人參與發行人集團之發展，並向認購人提供分
享發行人集團業務產生之回報之機會，而發行人集團之業務將可令認購人集團進軍
回收行業，及於認購人認為合適時，透過可能轉換全部或部份可換股票據為轉換股份
（須受轉換限制所規限）自發行人股價潛在上升表現中獲益。憑藉向認購人提供投資
於一間香港上市公司之若干股權之選擇，認購人董事亦認為認購事項為進一步發展
其融資業務之良機。
倘於完成認購事項後，可換股票據獲悉數轉換為轉換股份，則認購人將成為發行人之
最大股東，並可於發行人之股東大會上影響發行人之主要決定。然而，於本聯合公告
日期，認購人目前無意於完成後轉換任何可換股票據為轉換股份及認購人將維持為
可換股票據之持有人，而認購人於可換股票據項下之權益受其之相關反攤薄條款保
障。日後，認購人可考慮向發行人提名董事，致使認購人可參與發行人之管理及日常
營運。倘可換股票據尚未獲轉讓，則認購人將可每半年自可換股票據收取可觀之利息
收入。
認購事項將以認購人之內部資源（包括其借款人之還款及╱或可能未來集資活動籌
集之資金）提供資金。
認購人董事認為，認購協議之條款乃按一般商業條款訂立，並屬公平合理，且可能轉
換可換股票據符合認購人及認購人股東之整體利益。

75 : GS(14)@2012-08-01 19:54:18

http://www.hkexnews.hk/listedco/ ... N201208011080_C.pdf
根據本公司管理層對本集團管理賬目所作之初步審閱，本公司董事會（「董事會」）謹
此知會本公司股東及有意投資者，本集團預期於截至二零一二年三月三十一日止年
度將錄得溢利，而於二零一一年年度則錄得虧損。溢利增加乃主要由於財務負債之估
值收益及來自回收業務之溢利所致。

76 : GS(14)@2012-08-04 11:48:00

http://www.hkexnews.hk/listedco/ ... N201208031077_C.pdf
50合1...

77 : GS(14)@2012-08-11 14:16:04

http://www.hkexnews.hk/listedco/ ... TN20120810743_C.pdf
虧損擴大16%，至3,700萬，蝕錢空殼

本公司截至二零一二年三月三十一日止年度之綜合財務報表之獨立核數
師報告摘錄
保留意見之基準
截至二零一零年三月三十一日止年度之綜合財務報表已由前任核數師審核。前任核
數師發出之核數師報告載有有關（其中包括）未能確定載於該年度之綜合財務報表
內有關貴公司之於泰國註冊成立及經營之重大附屬公司之收入、開支、資產與負
債及相關披露資料是否已於該綜合財務報表內作準確記錄及妥為入賬之未能發表意
見。貴集團於二零一一年一月十八日終止該附屬公司所進行之業務並於該日出售
該附屬公司。由於該附屬公司於二零一零年四月一日之期初資產、負債及累計虧損之
賬面值影響確定貴集團於截至二零一一年三月三十一日止比較年度之已終止經營
業務之虧損，因此吾等未能確定是否需要對綜合全面收益表及相關說明附註中所呈
列之貴集團來自已終止經營業務之虧損及相應地貴集團於該比較期間之虧損作
出調整。
由於上述事項對綜合全面收益表及相關附註所載本年度數字及相應比較數字之比較
可能構成影響，故吾等修改對本年度之綜合財務報表之意見。
保留意見
吾等認為，除保留意見之基準一節所述事宜之相應比較數字之可能影響外，綜合財務
報表根據香港財務報告準則及香港公司條例之披露規定真實及公平地反映貴集團
於二零一二年三月三十一日之事務狀況及貴集團截至該日止年度之溢利及現金流
量。

注意事項
在並不進一步發表保留意見的情況下，吾等提請閣下垂注綜合財務報表附註2有關
採納持續經營基準編製綜合財務報表。於二零一二年三月三十一日，貴集團及貴
公司之流動負債淨額分別為約228,315,000港元及160,645,000港元，包括應付承兌票據
262,023,000港元。
綜合財務報表附註2所截之條件顯示存在重大不明朗因素，可能對貴集團及貴公
司持續經營之能力構成重大疑問。綜合財務報表並不包括於可見未來未能取得附註2
所述之有關資金以撥付貴集團及貴公司之營運資金及財務承擔而導致之任何調
整。吾等認為綜合財務報表已對上述事項作出充分披露。
...
前景
歐洲債務危機及美國經濟增長停滯已嚴重減低消費者之市場需求。管理層預計，經營
環境將會轉差，且將對本集團之成本及利潤率構成壓力。本公司將繼續於資源採購方
面實施更保守方法以減低營運成本。年內收購之廢紙回收業務已成為本集團之一項
主要收入來源。本集團相信，本集團之財務表現將得以改善。

78 : GS(14)@2012-10-04 22:24:39

http://realforum.zkiz.com/thread.php?page=33&tid=5786
波人:
合完就梗係呢一步啦

http://www.hkexnews.hk/listedco/ ... TN20121004995_C.pdf

1供1,2毛錢

建議供股
本公司建議透過以供股方式按認購價每股供股股份0.2港元按於記錄日期每持有一
(1)股現有股份獲發一(1)股供股股份之基準，向合資格股東發行不少於40,734,709股
供股股份但不多於49,410,284股供股股份，集資不少於約8,150,000港元但不多於約
9,880,000港元（扣除開支前）。合資格股東有權申請超出彼等各自於供股項下之配
額之未獲其他股東承購之供股股份。
本公司擬將供股之所得款項淨額之不多於10%用作本集團之一般公司及營運資金
需求，而不少於90%用於償還於二零一二年十一月到期之本金額為216,000,000港元
之尚未償還承兌票據。
記錄日期為二零一二年十一月二十三日（星期五）。按連權基準買賣股份之最後日
期為二零一二年十一月十六日（星期五）。股份將由二零一二年十一月十九日（星
期一）起按除權基準買賣。為符合供股資格，股東必須於記錄日期登記為本公司股
東及必須並非不合資格股東。
...
進行供股之理由：
於本公告日期，本公司之本金額為216,000,000港元之尚未償還承兌票據將於二零一二
年十一月到期。於二零一二年八月，本公司已與本金總額為156,000,000港元之承兌票
據持有人訂立一份不具約束力之意向備忘錄，據此，上述持有人允許本公司自票據到
期日起計一年內償付承兌票據，而毋須支付罰款或額外費用。然而，上述意向備忘錄
並不具法律約束力，且承兌票據持有人已表示於訂立具法律約束力之延遲協議前須
償付部份票據。本金總額為60,000,000港元之承兌票據之其他兩名持有人亦已要求於
就彼等之承兌票據到期日之任何可能延期與本公司進行任何正式討論前，須償付部
份票據。因此，本公司擬動用來自認購可換股票據之所得款項95,000,000港元償付承
兌票據之尚未償還本金及將予延期額外十二個月之承兌票據之任何餘下本金。本公
司將於承兌票據獲贖回及延期時適時另行刊發公告。
鑑於上述者，本公司急需資金以部份償付尚未償還承兌票據，致使餘下之尚未償還本
金可予以延期。由於認購可換股票據之所得款項95,000,000港元不足以償付大部份承
兌票據，故董事會就本集團可獲得之各種集資方法（包括可能動用發行授權）而持續
接觸其他金融機構。
供股所得款項之擬定用途
供股之所得款項總額將不少於約8,150,000港元但不多於約9,880,000港元（扣除開支
前）。供股之估計所得款項淨額將不少於約6,740,000港元但不多於約8,440,000港元。
本公司擬將供股之有關所得款項淨額之不多於10%用作本集團之一般公司及營運資
金需求，及不少於90%用於償還於二零一二年十一月到期之本金額為216,000,000港元
之尚未償還承兌票據。倘有關承兌票據持有人同意延期承兌票據之到期日，則所得款
項將用於尋求為本集團將予物色之其他投資機會提供資金。於本公告日期，本公司並
未已物色任何投資機會。

幾百個都供搞笑

79 : RY(2041)@2012-10-04 22:54:35

明想騙嗰啲讀過吓周生本書嗰啲人啦,小比例供股+只要幾球...唉

80 : GS(14)@2012-10-09 00:38:04

http://www.hkexnews.hk/listedco/ ... TN20121008981_C.pdf
於二零一二年十月八日（交易時段後），本公司與配售代理訂立配售協議，據此，配
售代理已同意按盡力基準以配售價每股配售股份0.57港元向獨立承配人配售最多
8,146,941股新股份。
配售事項須待聯交所上市委員會批准配售股份上市及買賣後，方可作實。倘該項條
件未能達成，則配售事項將不會進行。
最多數目之8,146,941股配售股份相當於本公司於本公告日期之全部已發行股本
40,734,709股股份之20%及本公司經配售股份擴大後之全部已發行股本約16.67%。
配售事項之所得款項淨額約4,350,000港元（假設配售股份已獲悉數配售，並已扣除
所有相關開支）將用作本集團之一般公司及營運資金。

81 : 自動波人(1313)@2012-10-09 02:45:33

痴L線架,股都未供又配
好想供股咁喎

82 : greatsoup38(830)@2012-10-09 21:54:41

82樓提及
痴L線架,股都未供又配
好想供股咁喎

都是向下炒格局，幾百萬都殺他都真是...

83 : 自動波人(1313)@2012-10-30 22:41:31

似乎佢地窮到窿

終止建議供股

http://www.hkexnews.hk/listedco/ ... TN20121030434_C.pdf

84 : greatsoup38(830)@2012-10-30 23:05:19

無人理隻股

誠如該公告所披露，供股須待多項條件獲達成後方可作實，其中包括認購可換股票據
持有人於發行認購可換股票據時，隨即向本公司及包銷商各自作出不可撤回承諾，
不會於記錄日期或之前將其所持有之全部或部份認購可換股票據轉換為新股份，亦
不會轉讓或以其他方式處理認購可換股票據，而認購可換股票據之有關持有人直至
及於記錄日期遵守有關承諾。本公司就上述不可撤回承諾接洽認購可換股票據認購
人，並得悉不大可能自認購可換股票據持有人取得有關承諾。其後，本公司接洽包銷
商及與其磋商增加其於供股項下之承諾，以令倘認購可換股票據於完成日期或之前
轉換為新股份，供股仍可獲悉數包銷。然而，本公司及包銷商未能就包銷協議之經修
訂條款達成協議，因此包銷協議被終止。
然而，倘條款於商業上可接納，且經計及本公司不時之財務狀況、融資成本、營運資
金需求等因素以及當時資本市場上其他方法後認為符合本公司及股東之整體利益，
則本公司對集資機會仍保持開放態度。因此，本公司及包銷商將持續交流，以評估本
公司之集資方法。本公司將於任何集資活動落實時另行刊發公告。

85 : greatsoup38(830)@2012-11-08 00:43:14

http://www.hkexnews.hk/listedco/ ... TN20121107408_C.pdf
董事會宣佈，本金額為30,000,000港元之若干承兌票據之到期日已由二零一二年十一
月六日延長至二零一二年十二月三十一日。除延長到期日外，上述本金額為30,000,000
港元之承兌票據之條款及條件將維持十足效力及效用。
於本公告日期，承兌票據尚未償還之本金額為132,000,000港元，其中72,000,000港
元、30,000,000港元及30,000,000港元分別於二零一三年五月七日、二零一二年十二月
三十一日及二零一二年十一月六日到期。本公司現正與本金額為30,000,000港元於二
零一二年十一月六日到期之若干承兌票據之持有人就該等逾期承兌票據之償還期限
及延長其到期日進行磋商。
董事會將繼續尋求股本╱債務融資機會以籌集進一步資金，從而減少本集團於未來
之短期債務數額。

86 : greatsoup38(830)@2012-12-01 13:20:00

http://www.hkexnews.hk/listedco/ ... TN20121130456_C.pdf
虧損增33%，至2,000萬，負資產爛殼

前景
歐洲債務危機及美國經濟增長停滯已嚴重打擊消費者之市場需求。管理層預計，經營
環境將會轉差，且未來將面臨多項挑戰，從而將對本集團之成本及利潤率構成壓力。
本公司將繼續於資源採購方面實施更保守方法以減低營運成本及整合本集團之業務。

87 : greatsoup38(830)@2013-03-06 01:11:48

986 過馬交賭輸認股

88 : ng caddy(36072)@2013-03-06 17:35:50

一年來都是向上炒?

89 : greatsoup38(830)@2013-03-06 22:17:16

89樓提及
一年來都是向上炒?

向下炒就有，我想都是澳門輸左錢當還錢，他用來還CB一鋪番晒來

90 : ng caddy(36072)@2013-03-06 22:29:09

由2012年10月到現在,一年來都是向上炒?應該沒有一年,我打錯

91 : greatsoup38(830)@2013-03-06 22:47:58

91樓提及
由2012年10月到現在,一年來都是向上炒?應該沒有一年,我打錯

呢半年左右啦，其餘都狂跌，呢年大約跌左3成
http://webb-site.com/dbpub/str.asp?i=1165
6-Mar-2013     2.210   2.210   38.13   2.300   1.650   2,119,204   4,404,029   2.078
5-Mar-2013     1.600   1.600   8.11   1.610   1.470   340,120   522,067   1.535
4-Mar-2013     1.480   1.480   -1.33   1.500   1.450   340,454   499,007   1.466
1-Mar-2013     1.500   1.500   5.63   1.520   1.500   230,377   345,916   1.502
28-Feb-2013     1.420   1.420   2.90   1.450   1.250   64,000   88,680   1.386
27-Feb-2013     1.380   1.380   0.00   1.380   1.380   47,050   63,660   1.353
26-Feb-2013     1.380   1.380   0.00   1.380   1.380   55,000   75,650   1.375
25-Feb-2013     1.380   1.380   -0.72   1.390   1.380   217,800   301,674   1.385
22-Feb-2013     1.390   1.390   0.00   1.440   1.380   120,219   168,655   1.403
21-Feb-2013     1.390   1.390   0.00   1.400   1.390   82,400   114,788   1.393
20-Feb-2013     1.390   1.390   -2.11   1.450   1.390   50,100   70,335   1.404
19-Feb-2013     1.420   1.420   -2.07   1.420   1.400   220,450   309,813   1.405
18-Feb-2013     1.450   1.450   -2.03   1.480   1.420   46,000   66,480   1.445
15-Feb-2013     1.480   1.480   4.96   1.500   1.500   21,720   32,343   1.489
14-Feb-2013     1.410   1.410   -2.76   1.440   1.410   70,000   99,000   1.414
8-Feb-2013     1.450   1.450   0.00   -   -   12   16   1.333
7-Feb-2013     1.450   1.450   4.32   1.450   1.380   178,000   249,280   1.400
6-Feb-2013     1.390   1.390   1.46   1.400   1.380   138,360   192,086   1.388
5-Feb-2013     1.370   1.370   -2.14   1.380   1.370   90,000   123,800   1.376
4-Feb-2013     1.400   1.400   0.00   1.420   1.400   173,691   243,679   1.403
1-Feb-2013     1.400   1.400   5.26   1.450   1.360   60,043   84,655   1.410
31-Jan-2013     1.330   1.330   -5.00   1.430   1.310   3,066,000   4,031,080   1.315
30-Jan-2013     1.400   1.400   0.00   1.400   1.400   11,114   15,525   1.397
29-Jan-2013     1.400   1.400   0.00   1.400   1.400   43,313   60,525   1.397
28-Jan-2013     1.400   1.400   -1.41   1.450   1.400   154,000   219,380   1.425
25-Jan-2013     1.420   1.420   -0.70   1.460   1.420   250,160   359,492   1.437
24-Jan-2013     1.430   1.430   0.00   1.430   1.430   50,401   72,061   1.430
23-Jan-2013     1.430   1.430   -2.72   1.470   1.430   257,580   370,847   1.440
22-Jan-2013     1.470   1.470   3.52   1.490   1.400   232,881   338,262   1.453
21-Jan-2013     1.420   1.420   4.41   1.450   1.380   837,641   1,179,580   1.408
18-Jan-2013     1.360   1.360   2.26   1.360   1.340   264,400   357,896   1.354
17-Jan-2013     1.330   1.330   0.00   1.330   1.280   107,600   138,668   1.289
16-Jan-2013     1.330   1.330   1.53   1.340   1.280   297,600   391,956   1.317
15-Jan-2013     1.310   1.310   -0.76   1.310   1.250   30,000   38,300   1.277
14-Jan-2013     1.320   1.320   1.54   1.320   1.270   150,708   194,877   1.293
11-Jan-2013     1.300   1.300   1.56   1.320   1.280   297,125   383,007   1.289
10-Jan-2013     1.280   1.280   1.59   1.320   1.250   158,062   203,016   1.284
9-Jan-2013     1.260   1.260   0.00   1.270   1.250   115,515   144,533   1.251
8-Jan-2013     1.260   1.260   -1.56   1.280   1.250   181,852   229,657   1.263
7-Jan-2013     1.280   1.280   -2.29   1.340   1.280   156,200   202,012   1.293
4-Jan-2013     1.310   1.310   -2.24   1.310   1.280   231,007   299,878   1.298
3-Jan-2013     1.340   1.340   0.00   1.340   1.310   426,337   567,625   1.331
2-Jan-2013     1.340   1.340   9.84   1.380   1.290   898,965   1,195,716   1.330
31-Dec-2012     1.220   1.220   0.00   -   -   0   0   -
28-Dec-2012     1.220   1.220   -3.17   1.220   1.210   140,000   169,700   1.212
27-Dec-2012     1.260   1.260   5.00   1.270   1.260   118,800   149,880   1.262
24-Dec-2012     1.200   1.200   -0.83   1.250   1.200   160,640   193,248   1.203
21-Dec-2012     1.210   1.210   1.68   1.210   1.190   75,243   89,929   1.195
20-Dec-2012     1.190   1.190   0.85   1.200   1.190   104,080   124,251   1.194
19-Dec-2012     1.180   1.180   -4.07   1.200   1.180   160,220   190,450   1.189
18-Dec-2012     1.230   1.230   -3.91   1.270   1.230   103,933   127,963   1.231
17-Dec-2012     1.280   1.280   9.40   1.340   1.190   917,820   1,164,530   1.269
14-Dec-2012     1.170   1.170   -1.68   1.180   1.160   50,000   58,500   1.170
13-Dec-2012     1.190   1.190   0.00   1.190   1.190   50,007   59,508   1.190
12-Dec-2012     1.190   1.190   -0.83   1.200   1.190   231,240   275,438   1.191
11-Dec-2012     1.200   1.200   1.69   1.200   1.180   77,168   92,004   1.192
10-Dec-2012     1.180   1.180   -0.84   1.180   1.170   72,000   84,580   1.175
7-Dec-2012     1.190   1.190   -0.83   1.240   1.190   243,700   294,855   1.210
6-Dec-2012     1.200   1.200   -4.00   1.200   1.200   61,061   73,221   1.199
5-Dec-2012     1.250   1.250   5.93   1.250   1.250   203,400   253,884   1.248
4-Dec-2012     1.180   1.180   0.00   1.190   1.180   104,040   122,546   1.178
3-Dec-2012     1.180   1.180   -0.84   1.200   1.170   260,866   308,585   1.183
30-Nov-2012     1.190   1.190   -1.65   1.210   1.170   436,425   520,860   1.193
29-Nov-2012     1.210   1.210   1.68   1.210   1.190   160,080   191,490   1.196
28-Nov-2012     1.190   1.190   2.59   1.190   1.120   240,925   284,633   1.181
27-Nov-2012     1.160   1.160   2.65   1.160   1.130   302,612   348,176   1.151
26-Nov-2012     1.130   1.130   -0.88   1.140   1.110   137,772   155,189   1.126
23-Nov-2012     1.140   1.140   0.88   1.140   1.110   96,000   106,780   1.112
22-Nov-2012     1.130   1.130   0.00   -   -   0   0   -
21-Nov-2012     1.130   1.130   -0.88   1.130   1.060   102,000   111,200   1.090
20-Nov-2012     1.140   1.140   0.00   1.160   1.140   117,959   134,974   1.144
19-Nov-2012     1.140   1.140   -1.72   1.200   1.140   73,000   83,600   1.145
16-Nov-2012     1.160   1.160   0.00   1.160   1.110   82,006   94,506   1.152
15-Nov-2012     1.160   1.160   -7.20   1.200   1.110   532,000   608,520   1.144
14-Nov-2012     1.250   1.250   7.76   1.250   1.100   30,800   35,988   1.168
13-Nov-2012     1.160   1.160   -2.52   1.200   1.160   124,137   147,841   1.191
12-Nov-2012     1.190   1.190   -5.56   1.250   1.170   90,000   111,000   1.233
9-Nov-2012     1.260   1.260   1.61   1.280   1.280   60,100   75,720   1.260
8-Nov-2012     1.240   1.240   -3.13   1.280   1.240   223,840   278,808   1.246
7-Nov-2012     1.280   1.280   1.59   1.300   1.270   241,300   310,707   1.288
6-Nov-2012     1.260   1.260   2.44   1.330   1.200   1,848,267   2,370,626   1.283
5-Nov-2012     1.230   1.230   -0.81   1.240   1.190   376,412   455,180   1.209
2-Nov-2012     1.240   1.240   8.77   1.260   1.150   1,128,972   1,367,028   1.211
1-Nov-2012     1.140   1.140   -4.20   1.190   1.120   452,200   514,522   1.138
31-Oct-2012     1.190   1.190   1.71   1.210   1.170   555,183   657,022   1.183
30-Oct-2012     1.170   1.170   0.00   1.200   1.170   203,000   239,590   1.180
29-Oct-2012     1.170   1.170   0.86   1.250   1.130   268,140   315,021   1.175
26-Oct-2012     1.160   1.160   -4.13   1.270   1.120   687,098   798,430   1.162
25-Oct-2012     1.210   1.210   -9.02   1.350   1.200   1,956,300   2,464,514   1.260
24-Oct-2012     1.330   1.330   12.71   1.400   1.200   5,533,371   7,335,712   1.326
22-Oct-2012     1.180   1.180   4.42   1.200   1.000   2,738,600   3,018,084   1.102
19-Oct-2012     1.130   1.130   -9.60   1.250   1.040   2,273,400   2,714,876   1.194
18-Oct-2012     1.250   1.250   -0.79   1.280   1.220   2,126,305   2,658,642   1.250
17-Oct-2012     1.260   1.260   3.28   1.330   1.220   4,207,334   5,346,255   1.271
16-Oct-2012     1.220   1.220   0.00   1.390   1.120   11,478,432   14,701,947   1.281
15-Oct-2012     1.220   1.220   60.53   1.350   0.790   25,066,436   27,605,630   1.101
12-Oct-2012     0.760   0.760   5.56   0.830   0.720   8,234,840   6,440,794   0.782
11-Oct-2012     0.720   0.720   46.94   0.850   0.490   15,164,610   11,083,291   0.731
10-Oct-2012     0.490   0.490   -18.33   0.610   0.490   2,012,311   1,094,202   0.544
9-Oct-2012     0.600   0.600   3.45   0.630   0.580   841,402   504,254   0.599
8-Oct-2012     0.580   0.580   1.75   0.680   0.550   1,759,344   1,068,951   0.608
5-Oct-2012     0.570   0.570   -22.97   0.780   0.550   3,590,847   2,336,022   0.651

92 : ng caddy(36072)@2013-03-06 23:04:59

我知,我是看圖明白,在FACEBOOK都有說

93 : ng caddy(36072)@2013-03-06 23:05:48

如果不看,那會在上年FACEBOOK推千股..

94 : greatsoup38(830)@2013-03-06 23:13:46

94樓提及
如果不看,那會在上年FACEBOOK推千股..

算啦

95 : ng caddy(36072)@2013-03-06 23:23:18

算啦..當是自我挑戰..

96 : ng caddy(36072)@2013-03-06 23:23:46

要做到計算千股也升,,,

97 : ng caddy(36072)@2013-03-07 17:19:16

做到計算千股也升,都有少少運氣..

98 : greatsoup38(830)@2013-03-07 22:10:46

98樓提及
做到計算千股也升,都有少少運氣..

呢隻真是跌得勁

99 : ng caddy(36072)@2013-03-07 23:01:11

呢隻真是跌得勁...是不是最近升得勁

100 : greatsoup38(830)@2013-03-24 18:09:31

終於還原

101 : greatsoup38(830)@2013-05-01 23:45:52

993 借畀986 都神神祕祕，一早知你有關啦

102 : greatsoup38(830)@2013-05-01 23:46:12

993 方公告

103 : GS(14)@2013-05-30 12:25:51

1拆4

104 : greatsoup38(830)@2013-06-18 01:39:23

盈警

105 : GS(14)@2013-07-02 10:00:04

轉盈為虧，虧2,600萬，負資產重債殼

106 : GS(14)@2013-08-06 18:05:30

986 買垃圾解釋

107 : greatsoup38(830)@2013-08-23 00:18:15

台灣人頭1.13認1,280萬股，睇來賭輸左錢

108 : greatsoup38(830)@2013-11-05 23:09:57

767 以溢價180%出售986 CB

109 : greatsoup38(830)@2013-11-19 00:27:58

2.01 元配8,300萬股，代理英皇

110 : greatsoup38(830)@2013-11-23 16:08:22

盈警

111 : greatsoup38(830)@2013-12-01 17:43:41

986
虧損增5%，至2,200萬，負資產重債

112 : GS(14)@2013-12-31 00:44:56

又1拆5

113 : greatsoup38(830)@2014-01-02 00:59:16

哈哈

114 : GS(14)@2014-01-06 23:10:43

986
配8億CB，每股換股價2.5元....真勁

115 : iniesta(1400)@2014-01-09 22:58:10

取消配CB
原因: 由於本公司股價之近期波動

哈哈股價波動咪又係你搞出黎

116 : greatsoup38(830)@2014-01-10 00:00:17

又炒油

117 : GS(14)@2014-01-20 23:15:59

986

118 : greatsoup38(830)@2014-01-22 00:03:22

23送1認購證，每行使1認購證送1紅利輪，行使價55.6仙(拆股前2.78元)真是好好玩....

119 : greatsoup38(830)@2014-01-25 13:21:27

又垃圾價買美國油田

120 : greatsoup38(830)@2014-01-25 13:22:34

個估值是200幾億，我賣2%畀你，1億幾是咪好平

121 : iniesta(1400)@2014-01-27 18:10:44

今日宰魚, 好多大陸老散被宰

122 : iniesta(1400)@2014-01-27 18:19:55

http://hkba.eastmoney.com/look,00986,369651.html

123 : GS(14)@2014-01-27 23:37:46

痴線佬至買

124 : GS(14)@2014-01-27 23:40:08

1
今天暴跌成這樣，如何是好？
本人聽朋友的接受，在4.87的時候入手了40000股（朋友本人也好像買了13萬股，他入手價是4.48）。那本錢幾乎是我這麼多年的所有積蓄。現在經過兩輪暴跌，快到我的承受極限了，下一步該如何是好？？雖然我也知道投資入市有風險，但沒有想到來的這麼猛烈。大大超出了相信，下一步怎麼辦啊？？心裡很慌。。

2
今天暴跌成這樣，如何是好？
我也有問過朋友，問他是怎麼回事？下一步如何是好？他也給不出一個所以然的答案出來。有高手指點一下迷路的小弟嗎？真快崩潰了。。虧了10幾萬了，對於有錢人來說，10幾萬不算什麼，但對於我來講，這就是我的全部，這麼多年來一個人在外面打拚的所有，現在還不敢跟家裡人說，心裡難受的很，該怎麼辦呢？
作者：116.24.26.*  發表時間：2014-1-27 13:39:49 [我支持] [不好說] [我反對] [引用] [回覆主題]

8
今天暴跌成這樣，如何是好？
總之有人在這次停牌前，在3.97附近也吸了不少貨，如果股價一直這樣，他們不是就SB了，所以那些4塊左右就開始吸貨的人如果是莊的話，大家就不用怕，拆分以後還會拉回那個價位之上。所以如果有不少人被套的話，等拆分後莊家一拉升，那時就趕緊逃吧，應該還有機會。
作者：124.200.255.*  發表時間：2014-1-27 14:05:59 [我支持] [不好說] [我反對] [引用] [回覆主題]
9
今天暴跌成這樣，如何是好？
8樓的朋友非常謝謝你的安慰。希望你的所言屬實吧。太難過了現在。。我是只能等拆分了，希望到時能回本錢就好了收益不講了
作者：116.24.26.*  發表時間：2014-1-27 14:08:23 [我支持] [不好說] [我反對] [引用] [回覆主題]
10
今天暴跌成這樣，如何是好？
[原帖]
總之有人在這次停牌前，在3.97附近也吸了不少貨，如果股價一直這樣，他們不是就SB了，所以那些4塊左右就開始吸貨的人如果是莊的話，大家就不用怕，拆分以後還會拉回那個價位之上。所以如果有不少人被套的話，等拆分後莊家一拉升，那時就趕緊逃吧，應該還有機會。
作者：124.200.255.* 2014-01-27 14:05:59

問題是吸貨的你確定是莊麼 - - 早上2.8的時候沒跑了不知道還能不能回2.8了
作者：118.144.114.*  發表時間：2014-1-27 14:16:16 [我支持] [不好說] [我反對] [引用] [回覆主題]
11
今天暴跌成這樣，如何是好？
你簽回執了麼？
作者：114.242.250.*  發表時間：2014-1-27 14:19:29 [我支持] [不好說] [我反對] [引用] [回覆主題]
12
今天暴跌成這樣，如何是好？
連跌3天直接到5毛5 然後等到1拆5攤低到9分，再繼續砸盤直到6分此時宣佈搞50供1，立刻回到3塊繼續砸。

作者：114.113.116.*  發表時間：2014-1-27 14:24:49 [我支持] [不好說] [我反對] [引用] [回覆主題]

20
今天暴跌成這樣，如何是好？
香港朋友說，是洗倉
作者：121.31.63.*  發表時間：2014-1-27 14:40:15 [我支持] [不好說] [我反對] [引用] [回覆主題]
21
今天暴跌成這樣，如何是好？
樓主短時間是解不了套了，你可以看看歷史做一波莊家需要好長時間的。還是努力工作多挽回一些損失，股市是天堂地獄。
作者：124.126.226.*  發表時間：2014-1-27 14:42:39 [我支持] [不好說] [我反對] [引用] [回覆主題]
22
今天暴跌成這樣，如何是好？

看來易貹百騙了很多人,那資金數額可能非常之大,就是大家沒有形成合力,一起去討回大家的本金和收益.光在這裡說說沒用的

作者：219.142.174.*  發表時間：2014-1-27 14:43:03 [我支持] [不好說] [我反對] [引用] [回覆主題]

就是不確定一定是莊，我也怕是某些不開眼的機構或大戶博傻往裡跳，但從那麼大的成交量上來看，至少不是散戶，應該沒那麼大手筆。現在也只能賭是莊在洗盤和吸籌，後期拉升看來有一段時間要等了，至少在拆分後了。

如果是其它機構吸籌，肯定不回炒到之前的位置。那些機構就像一個遊俠，只要有一點升幅肯定出貨。

因此，後期的炒作，沒有散戶可以把握住節奏。所以，我建議，逢高清倉。

28
今天暴跌成這樣，如何是好？

樓主買了這麼多，易勝百沒讓你轉成羅馬集團嗎？
作者：219.142.13.*  發表時間：2014-1-27 17:41:46 [我支持] [不好說] [我反對] [引用] [回覆主題]
29
今天暴跌成這樣，如何是好？
你們買的是香港著名的老千股集團的股票, 買之前自己有沒有做過調查分析?
沒有做分析, 輸清也是很自然的事.
港股老千著名的向下炒大法, 聽過沒
作者：220.241.192.*  發表時間：2014-1-27 18:08:47 [我支持] [不好說] [我反對] [引用] [回覆主題]
30
今天暴跌成這樣，如何是好？
我手裡也有好幾百萬股呢，不過我已經聽公司的話轉成羅馬集團了，羅馬現在的價格和我轉的價格差價我已經賺了不少了，我聽公司說年後給大家辦理的速度非常快，絕不會像原來一樣那麼慢
作者：明白人大贏家  發表時間：2014-1-27 18:17:20 [我支持] [不好說] [我反對] [引用] [回覆主題]

125 : GS(14)@2014-01-27 23:40:20

32
今天暴跌成這樣，如何是好？
向下炒的一大前提是股價較長期的進入下行趨勢裡，並且緩慢的跌至所謂看似的無法再跌，這種下跌都是人為去操控的，比如老闆虧本出貨，小散接手，價格越走越低，小散便不停的接手好攤低個股的成本，價格很低很低的時候小散以為該漲了，結果公司突然低價批新股給自己人。

00986從技術層面上看不出是向下炒，關鍵因素兩點，一點是價格過高（能向下炒的股票絕對是幾毛錢的股票，因為他要利用散戶錯誤的投機觀念來獲利），再一點是沒有形成技術上的下行趨勢現在是跌太狠。00986也不像老千股，老千股就是玩合股派股。

不過眼著現在的行情還是勸小散不要有自作聰明的動作。

126 : saintsheep(5619)@2014-01-27 23:57:16

看不出是向下炒.........痴線......

127 : saintsheep(5619)@2014-01-27 23:58:24

大陸打手, 而家有咁途徑出貨, 唔怪得華匯係不怕炒至天高

128 : GS(14)@2014-01-27 23:58:33

saintsheep在127樓提及
看不出是向下炒.........痴線......

現在有乜概念先

129 : GS(14)@2014-01-27 23:59:02

saintsheep在128樓提及
大陸打手, 而家有咁途徑出貨, 唔怪得華匯係不怕炒至天高

同六叔差唔多

130 : saintsheep(5619)@2014-01-27 23:59:30

greatsoup在126樓提及
32
今天暴跌成這樣，如何是好？
向下炒的一大前提是股價較長期的進入下行趨勢裡，並且緩慢的跌至所謂看似的無法再跌，這種下跌都是人為去操控的，比如老闆虧本出貨，小散接手，價格越走越低，小散便不停的接手好攤低個股的成本，價格很低很低的時候小散以為該漲了，結果公司突然低價批新股給自己人。

00986從技術層面上看不出是向下炒，關鍵因素兩點，一點是價格過高（能向下炒的股票絕對是幾毛錢的股票，因為他要利用散戶錯誤的投機觀念來獲利），再一點是沒有形成技術上的下行趨勢現在是跌太狠。00986也不像老千股，老千股就是玩合股派股。

不過眼著現在的行情還是勸小散不要有自作聰明的動作。

131 : GS(14)@2014-01-27 23:59:50

saintsheep在131樓提及
greatsoup在126樓提及
32
今天暴跌成這樣，如何是好？
向下炒的一大前提是股價較長期的進入下行趨勢裡，並且緩慢的跌至所謂看似的無法再跌，這種下跌都是人為去操控的，比如老闆虧本出貨，小散接手，價格越走越低，小散便不停的接手好攤低個股的成本，價格很低很低的時候小散以為該漲了，結果公司突然低價批新股給自己人。

00986從技術層面上看不出是向下炒，關鍵因素兩點，一點是價格過高（能向下炒的股票絕對是幾毛錢的股票，因為他要利用散戶錯誤的投機觀念來獲利），再一點是沒有形成技術上的下行趨勢現在是跌太狠。00986也不像老千股，老千股就是玩合股派股。

不過眼著現在的行情還是勸小散不要有自作聰明的動作。

呢系一定向下炒

132 : saintsheep(5619)@2014-01-28 00:01:54

大陸人多錢多, 炒到天價又有人接.. 唔怪得之之前有證券行朋友話

133 : saintsheep(5619)@2014-01-28 00:02:18

d人有好多986實貨, 一張張咁入

134 : GS(14)@2014-01-28 00:02:36

saintsheep在133樓提及
大陸人多錢多, 炒到天價又有人接.. 唔怪得之之前有證券行朋友話

今次真是發

135 : saintsheep(5619)@2014-01-28 00:02:52

咁樣做唔知證監理唔理

136 : GS(14)@2014-01-28 00:03:54

saintsheep在136樓提及
咁樣做唔知證監理唔理

點理可以?

137 : GS(14)@2014-01-28 00:04:07

saintsheep在134樓提及
d人有好多986實貨, 一張張咁入

華匯班人發死

138 : saintsheep(5619)@2014-01-28 00:06:11

陰質錢...

139 : GS(14)@2014-01-28 00:06:47

saintsheep在139樓提及
陰質錢...

陰騭是肯定，所以莊老闆好似無仔女

140 : iniesta(1400)@2014-01-28 01:04:45

greatsoup在140樓提及
saintsheep在139樓提及
陰質錢...

陰騭是肯定，所以莊老闆好似無仔女

其實有又點o者, 好似義氣官個仔女, 都係有PP的啦, 只不過成副賊相

141 : GS(14)@2014-01-28 01:05:29

iniesta在141樓提及
greatsoup在140樓提及
saintsheep在139樓提及
陰質錢...

陰騭是肯定，所以莊老闆好似無仔女

其實有又點o者, 好似義氣官個仔女, 都係有PP的啦, 只不過成副賊相

相由心生哈哈

142 : 投機家(40568)@2014-01-28 03:19:46

greatsoup在126樓提及
32
今天暴跌成這樣，如何是好？
向下炒的一大前提是股價較長期的進入下行趨勢裡，並且緩慢的跌至所謂看似的無法再跌，這種下跌都是人為去操控的，比如老闆虧本出貨，小散接手，價格越走越低，小散便不停的接手好攤低個股的成本，價格很低很低的時候小散以為該漲了，結果公司突然低價批新股給自己人。

00986從技術層面上看不出是向下炒，關鍵因素兩點，一點是價格過高（能向下炒的股票絕對是幾毛錢的股票，因為他要利用散戶錯誤的投機觀念來獲利），再一點是沒有形成技術上的下行趨勢現在是跌太狠。00986也不像老千股，老千股就是玩合股派股。

不過眼著現在的行情還是勸小散不要有自作聰明的動作。

如果唔合股咁點解釋2010年既200幾蚊高價xd??
大陸人真係天真踩咗屎居然搵d咁既理由去安慰自己
又唔諗下隻野半年唔夠升咗咁多倍係點解...
就算係莊家收貨, 都唔會俾你d老散咁易估到佢要拉升啦化, 俾我係莊玩多你幾轉先啦

143 : iniesta(1400)@2014-01-28 10:17:33

其實我諗講唔係向下炒呢位都是打手, 佢講野實在太膠
莊生真係堅, 呢D大生意

144 : 自動波人(1313)@2014-01-28 10:22:30

143樓提及
greatsoup在126樓提及
32
今天暴跌成這樣，如何是好？
向下炒的一大前提是股價較長期的進入下行趨勢裡，並且緩慢的跌至所謂看似的無法再跌，這種下跌都是人為去操控的，比如老闆虧本出貨，小散接手，價格越走越低，小散便不停的接手好攤低個股的成本，價格很低很低的時候小散以為該漲了，結果公司突然低價批新股給自己人。

00986從技術層面上看不出是向下炒，關鍵因素兩點，一點是價格過高（能向下炒的股票絕對是幾毛錢的股票，因為他要利用散戶錯誤的投機觀念來獲利），再一點是沒有形成技術上的下行趨勢現在是跌太狠。00986也不像老千股，老千股就是玩合股派股。

不過眼著現在的行情還是勸小散不要有自作聰明的動作。

如果唔合股咁點解釋2010年既200幾蚊高價xd??
大陸人真係天真踩咗屎居然搵d咁既理由去安慰自己
又唔諗下隻野半年唔夠升咗咁多倍係點解...
就算係莊家收貨, 都唔會俾你d老散咁易估到佢要拉升啦化, 俾我係莊玩多你幾轉先啦

A股有板你睇，他們已習慣

145 : jjolean(1007)@2014-01-28 10:46:27

big 6 好多人都係聽"消息"炒

old thousand股發發啦上面這麼多錢

146 : 投機家(40568)@2014-01-28 22:13:34

唔計d藍籌，港股大把中小型靚股好炒，偏要搵老千股炒，唉

147 : greatsoup38(830)@2014-01-28 23:55:22

iniesta在144樓提及
其實我諗講唔係向下炒呢位都是打手, 佢講野實在太膠
莊生真係堅, 呢D大生意

買個垃圾油田一野拿走晒錢....

那個人講野好好笑

148 : greatsoup38(830)@2014-01-28 23:55:41

jjolean在146樓提及
big 6 好多人都係聽"消息"炒

old thousand股發發啦上面這麼多錢

有錢是咁送畀他們咁

149 : GS(14)@2014-02-06 10:52:19

紅利輪換股價由55.6仙降至13.02仙

150 : greatsoup38(830)@2014-04-19 02:01:42

986

151 : GS(14)@2014-04-23 01:55:27

986

152 : greatsoup38(830)@2014-06-05 00:11:10

賣垃圾

153 : GS(14)@2014-06-09 01:33:05

盈警

154 : GS(14)@2014-06-20 00:07:47

唔知買乜垃圾

155 : iniesta(1400)@2014-06-27 17:04:00

转--易百胜骗局全揭秘
收藏本帖回复主题
易胜佰骗局全揭秘点击量：6472　回复数：0 举报天山宝宝发表于 2014-01-27 10:10:50首先，易胜佰通过香港壳公司与上市公司签署购买上市公司可转股公司债券和可换股权证协议，然后开始在大陆宣传其有00986股票，这里实际是权证和债券，在香港市场都是按照股价打折的，同时他们卖给老百姓是按照当时股价的，于是乎1块钱他们香港公司包销的权证变成2、3甚至4块卖给老百姓，而且钱都打给香港公司，易胜佰不构成股票经纪实际行为，你买的价格再高也是符合香港法律的，于是易胜佰赚到第一桶金。其次，仔细看下给你的收据，有几个是易胜佰自己公司的公章？都是加盟公司的，这就增加了法人诉讼主体，当你诉讼的时候只能先诉讼那些给收据的小公司，他们根本不是易胜佰。销售人员所说的一切都是个人行为，没有易胜佰的实际证据，同时易胜佰推介的是香港公司销售的所谓纸质票，没有虚构事实所以不构成诈骗。再次，易胜佰明年更名中国易胜佰，吸引了某国企参股，这就是要背靠大树，把和谐风险转嫁给国企。如果股票大涨，则上市公司给予美锦集团的对价更高，可以获得更多的资产，但是随着股票大涨，庄家手中筹码逐步减少，必须打压股价吸收更多筹码，才能完成与美锦集团的换股行为，从而实现最后逃离。为什么要让投资人都转成罗马集团，就是因为易胜佰已经获利了，3.3每股转，5快多买的人积极上就是让他们已经吃了差价，可这个差价不让他们吃就得暴跌，实际上就是绑架！彻头彻尾合法的金融诈骗。3.3每股很可能是他们代卖罗马集团可转股公司债券的价格，可转债是保本保息的，也就是股价跌了不转股每年给你一点利息，股价涨了一般3个月左右就可以转股，转股以后卖掉就好了，唯一一点就是可转债是一百万港币的投资门槛。他们卖给咱们先吃差价，风险让咱们担，要是跌了他们就说给咱们保本，照样利息被他们赚走了。易胜佰玩的真不错！高实在是高！

http://www.guba.com.cn/hk/news,hk00986,109346816.html

156 : GS(14)@2014-06-29 20:04:18

986

虧損增7%，至4,900萬，負資產重債

157 : GS(14)@2014-07-25 16:31:31

986

158 : GS(14)@2014-08-21 01:21:07

20合1

159 : greatsoup38(830)@2014-11-16 11:28:50

盈警

160 : GS(14)@2014-11-21 00:46:24

1供8，每股19.5仙

161 : GS(14)@2014-12-02 14:47:46

虧損增8成，至3,300萬，負資產重債

162 : greatsoup38(830)@2014-12-23 02:11:54

有野搞

163 : ninomiyau(41302)@2015-01-15 07:31:21

哈哈，供股截止，魚仔落晒搭，午後拆棚。

164 : greatsoup38(830)@2015-01-16 00:11:35

高手

165 : nhizlee(26265)@2015-01-21 12:34:12

根據暫定配額通知書及額外申請表格之有效接納及申請之合共796,759,533股供股
股份相當於根據供股可供認購之總數為2,313,143,472股供股股份之約34.44%。

因此，供股股份認購不足1,516,383,939股供股股份，相當於根據供股可供認購之總數
為2,313,143,472股供股股份之約65.56%。

包銷左總股數58%

166 : ninomiyau(41302)@2015-01-21 12:55:29

呢隻根本唔使理個結果...

167 : nhizlee(26265)@2015-01-21 23:05:02

即刻提款?

收購PLATINUM PLUS INTERNATIONAL LIMITED　作價$63,750,000

承兌票據即係唔流比錢住?

168 : greatsoup38(830)@2015-01-21 23:35:41

畀住廢紙先

169 : greatsoup38(830)@2015-01-23 00:21:14

還票據

170 : greatsoup38(830)@2015-02-03 01:56:21

不投資了

171 : ninomiyau(41302)@2015-02-03 04:21:58

用張MOU吹完水，引魚入場之後就終止收購，真正曲終人散。

172 : greatsoup38(830)@2015-02-03 23:47:43

老千股少玩為妙

173 : GS(14)@2015-03-03 16:13:48

profit warning and huge pay

174 : greatsoup38(830)@2015-03-13 01:48:19

又炒股票

175 : GS(14)@2015-03-20 00:12:58

986認8021股

176 : GS(14)@2015-04-19 01:29:18

986買1063股權

177 : GS(14)@2015-05-05 01:57:39

盈警

178 : GS(14)@2015-05-13 01:16:22

986 buy 8195

179 : GS(14)@2015-05-20 00:19:24

買美容公司

180 : GS(14)@2015-07-01 22:57:43

虧損增7成，至7,000萬，輕債

181 : greatsoup38(830)@2015-09-05 10:30:00

買垃圾

182 : greatsoup38(830)@2015-09-28 23:14:46

Bubbles and troubles in Hong Kong
24th September 2015

As readers may recall, last year, Lerado Group (Holding) Co Ltd (Lerado, 1225) announced the proposed sale of its core business of baby strollers and infant car seats to Canadian listed firm Dorel Industries Inc (Dorel) for HK$930m. Lerado was planning to squat on most of the cash proceeds and only pay out $0.30 per share, or $228m. For this reason, we opposed the sale, because of concern that Lerado would become a cash shell trading at a discount to its net asset value. Your editor, David Webb, is a disclosed substantial shareholder currently holding over 8%. However, the sale was approved by shareholders on 16-Sep-2014 and completed on 31-Oct-2014.

Our concerns have now proven justified, culminating in current egregious proposals not just by Lerado but by other listed companies. We hope to stop them, if the regulators will require certain parties to play fairer. This article is long and complicated, and we thought about breaking it into pieces, but the picture becomes clearer if you assemble the whole jigsaw, so here it is. Apart from Lerado, this article covers transactions by numerous other listed companies in which you may have an interest, and several billion US dollars of bubbles.

So pour yourself a large coffee and let's get started.
Lerado share movements

The first sign of movement in Lerado came on 25-Nov-2014. Intelligence Hong Kong Group Ltd (IHK) is a company owned 68.27% by Lerado Chairman Henry Huang Ying Yuan (Mr Huang) and 31.73% by his wife, Jamy Huang Chen Li Chu. IHK owns 148,353,540 shares which was 19.50% of Lerado at 31-Dec-2014, before the recent dilutions. On 25-Nov-2014, our system shows those shares moving from CTBC Asia Ltd (the local subsidiary of a Taiwan bank) where they had rested since 30-Dec-2009, to Convoy Investment Services Ltd (Convoy IS), the brokerage sister of Convoy Financial Holdings Ltd (Convoy FH, 1019). Convoy IS is in the process of trying to list on the GEM in the form of CIS Holdings Ltd, which filed an application proof on 23-Mar-2015, sponsored by Quam Capital Ltd.

There can be any number of reasons for such transfers, but one possibility is that the shares are security for a loan. Banks and brokers are exempt from disclosing security interests in shares pledged to them. It wouldn't be so worrying were it not for the fact that Mark Mak Kwong Yiu (Mr Mak), CEO of Convoy FH and a director of Convoy IS, is also claimed to be an INED of Lerado since 25-Apr-2014. Mr Mak joined Convoy as CFO in 2002.

You may recall that in Some bubbles for New Year (31-Dec-2014) we warned about a bubble then called Finsoft Corporation (Finsoft, 8018), which was then trading at $1.235 (adjusted for the subsequent 2:1 split), with a market value of HK$4.94bn, or 110 times its net asset value. Convoy FH owned over 5% of Finsoft. The stock didn't stop there though. It reached a high of $2.92 on 20-May-2015, when Finsoft was valued at HK$11.68bn. Since then, it has crashed 94.8% to its close on Wednesday (23-Sep-2015) at $0.139, down a net 88.7% since our article. Finsoften aren't what they seem.

The Finsoft bubble allowed Convoy FH to book unrealised gains of HK$238.4m for 2014. It sold 40m shares (2%) of Finsoft on 20-Jan-2015 for about $73.5m (split-adjusted: $0.919 per share) and went below the 5% disclosure threshold. The sale was purportedly on-market but it was far larger than market volume that day of 1.925m shares so the disclosure must be wrong.

Returning to Lerado, another large chunk of 96,805,800 shares (12.71% at 31-Dec-2014) was held by Hwa Foo Investment Ltd (Hwa Foo), 30% controlled by Patrick Chen Chun Chieh (Mr Chen), an Executive Director and the son of the late co-founder of Lerado, and 70% by his mother. He joined the board on 3-Apr-2008 following his father's death on 14-Feb-2008. On 8-Sep-2014 those shares moved from HSBC (where they had rested since 27-Jun-2007) to UBS Securities HK Ltd , and then, more interestingly, they moved to small broker Win Fung Securities Ltd (Win Fung) on 9-Dec-2014, two weeks after IHK's holding moved to Convoy IS. So the Huangs and the Chens had moved custody of 32.21% of Lerado after leaving it untouched for years. More on Win Fung below.
Dispute with Dorel

First let's mention that on 10-Feb-2015, Lerado announced that it was in dispute with Dorel over the final net asset value of the business, which may lead to a partial repayment of the purchase price, in an unspecified "significant" amount.

On 27-Mar-2015, Lerado announced that it could not reach agreement with Dorel, so under the terms of the sale they had agreed to go to arbitration with an independent accountant, not yet appointed. In the 2014 annual results announcement on 30-Mar-2015, Lerado revealed that the disputed amount was HK$307m, which accordingly had been booked as a liability in the balance sheet. Still, Lerado ended 2014 with cash of $797m or HK$1.048 per share and no bank borrowings. The disputed amount was about $0.404 per share, so even if they have to pay all of that back, there would have been $0.644 per share of cash, and net assets of $633m or $0.832 per share.

On 20-Jul-2015, Lerado announced that it and Dorel had appointed RSM Nelson Wheeler as the independent accountant to determine the disputed items. Two months later, the result has not yet been announced. If Lerado were to win all of it, then the pro forma net asset value at 31-Dec-2014 increases to $1.236 per share.
Lerado swaps shares for property from CIFG

The day after the results, 31-Mar-2015, Lerado announced the acquisition of a property in Guangzhou from China Investment and Finance Group Ltd (CIFG, 1126) for HK$39m, but despite being flush with cash, only HK$1m was payable in cash and the rest in 76m new Lerado shares (9.49% of then existing shares) issued under the general mandate at $0.50 each, again a discount to cash and NAV per share.

The intended use of the property is as premises for the residual business of Lerado, which is mainly mobility scooters for the elderly and disabled, or what it calls "medical products". However, even if intended use of the property sounds plausible, the issue of shares at a discount to net cash and NAV was entirely inappropriate. The deal completed on 17-Apr-2015, giving CIFG a 8.59% stake in Lerado. Our system shows that CIFG deposited the shares into CCASS with Astrum Capital Management Ltd (Astrum) on 5-May-2015.

CIFG is not a regular listed company, but is a closed-end investment company listed under Chapter 21. This prohibits taking controlling positions (over 30%) in companies, and requires it to adhere to its stated investment restrictions. We asked the Stock Exchange why CIFG was allowed to invest in property in the first place. The result was this "clarification announcement" on 7-Aug-2015, admitting that investment properties were outside the scope of CIFG's Investment Policy and blaming it on the former Chairman and Vice Chairman. They had been removed by the Board on 14-Sep-2012, 6 months after becoming uncontactable.
Lerado begins money-lending and stockbroking

The "Prospects" section of Lerado's 2014 results indicated a new direction. The board had "concrete financial knowledge and background" and had decided to diversify into "securities trading, money lending business and other financial and property investment." It revealed that on 23-Feb-2015, Lerado had agreed to buy an unnamed target company, for HK$1.6m plus its net asset value. The target was a securities broker and planned to engage in margin financing business after the acquisition was completed. On 17-Apr-2015, Lerado announced that it would reallocate HK$300m of its cash pile for these activities.

On 2-Jul-2015 Lerado announced the name of the target, Yim Cheong Share Broking and Investment Co Ltd, and that the acquisition was completed that day. This was then renamed Black Marble Securities Ltd (Black Marble Securities), and Lerado intended to pump HK$200m into it. This small, nearly-dormant broker at that point had a minimal two licensed staff and minimal holdings in its CCASS account shown here.

Policy note: This highlights a defect in the Listing Rules: if you make a "Major Acquisition" (over 25% of your total assets), then you need shareholders' approval, but if you buy or establish a small company and then pump your funds into this new line of business, then this is completely exempt, even though shareholders are exposed to very new and different risks.

Lerado had also established BlackMarble Capital Ltd, incorporated 28-Jan-2015, a licensed money-lender. The application was gazetted on 27-Feb-2015 and the license was granted on 22-May-2015.
Lerado option grants

On 12-Feb-2015, Lerado granted options over 75m new shares (equivalent to 9.86% of the existing shares), of which half went to an unspecified number of employees, and half to "5 consultants". The options were exercisable for 2 years at $0.592 per share. It makes no sense whatever to be granting options which exercise at less than net cash per share, and much less than NAV per share, diluting both. Staff could have been incentivised with a restricted share purchase scheme to use the company's cash to buy stock in the market, which closed at $0.58 on the date of the option grants.

Despite being options of 2 years duration, 48m of the 75m were quickly exercised. We arranged an inspection of the share register on 14-Apr-2015 to discover who had been in such a hurry. We combined that with two filings of allotments by Lerado, which did not name the recipients. Here are the results:
Shareholder   Shares   Date entered   Status
Chu Chun Ting   7,500,000   11-Mar-2015   1 employee, 1 consultant
Kung Yiu Fai   7,500,000   11-Mar-2015
Chan Kam Fuk   7,500,000   17-Mar-2015   employee
Law Yee Man, Thomas   3,000,000   17-Mar-2015   employee
Wang Zewei   7,500,000   20-Mar-2015   consultant
Wong Sin Fai, Cynthia   7,500,000   20-Mar-2015   consultant
Kwok Wai Leung   7,500,000   2-Apr-2015   consultant
Total so far   48,000,000   14-Apr-2015   3 employees, 4 consultants

That leaves 1 more consultant who has not exercised the options. We recognise some of these names:

  Chan Kam Fuk is Dominic Chan Kam Fuk (Dominic Chan), proprietor of accountancy firm Dominic K.F. Chan & Co. He was appointed as Company Secretary of Lerado on 1-Aug-2014.
  Thomas Law Yee Man (Mr Law), an architect, is an INED of two listed companies, AcrossAsia Ltd (AcrossAsia, 8061) and Sage International Group Ltd (Sage, 8082). Here's a connection: Mr Law joined AcrossAsia on 28-May-2010, replacing Mr Mak of Convoy, who resigned as INED four days earlier. Perhaps Mr Mak helped to arrange Mr Law as his replacement at AcrossAsia. And here's another connection: Leung Tin Fu (Mr Leung), founder and Chairman of Sage until 14-Dec-2007, is also a pre-IPO holder of 10% of Convoy IS. Dominic Chan was an INED of Sage, resigning the same day as Mr Leung. We don't know what role Mr Law plays as an "employee" of Lerado.

  Cynthia Wong Sin Fai (Cynthia Wong) is a solicitor who consults for Robertsons and has been Company Secretary of Suncorp Technologies Ltd (Suncorp, 1063) since 15-Feb-2011. We'll come back to that. We don't know what role she plays as a "consultant" to Lerado.

  Wang Zewei (Mr Wang) is the name of the person who in 2014 sold 22.5% of Sincere Smart International Ltd to Hao Wen Holdings Ltd (Hao Wen, 8019) for HK$69m, valuing the business at $306.7m when it had net assets of $2.9m. Two other companies, Capital VC Ltd (Capital VC, 2324) and Unity Investments Holdings Ltd (Unity, 0913), bought 14% and 29.5% for $42.7m and $90m respectively, without naming the vendor(s). For more, see our article Hao Wen, Capital VC and Unity today. We don't know what role Mr Wang plays as a "consultant" to Lerado. He was the only mainlander on the list, and he gave an office address at 10 Gaoxin South 4th Road, Nanshan District, Shenzhen.

Incidentally, Mr Mak was also an Executive Director of Computech Holdings Ltd, now named China Mobile Games and Cultural Investment Ltd (CMG, 8081), from 30-Jul-2008 to 28-Apr-2014, three days after he joined Lerado. In fact he was the only ED of CMG from 17-Sep-2009 to 8-Nov-2011. The Convoy FH IPO prospectus dated 29-Jun-2010 said that despite this, Mr Mak considered Convoy his main focus and "has devoted more than 80% of his time to his duties" at Convoy during 2007-2009 and he would continue to allocate a similar proportion of his time to Convoy after listing. That basically meant that CMG only had about 0.2 Executive Directors!

Win Fung acted as the placing agent for CMG in a placing on 22-Apr-2015.

The option shares were deposited into CCASS via various brokers as follows. Click on the dates to see the movements in CCASS:
Date   Broker   Number
15-Apr-2015   SBI China Capital Financial Services Ltd (SBI CCFS)   7,500,000
29-Apr-2015   Win Fung   7,500,000
8-May-2015   Gransing Securities Co Ltd (Gransing)   7,500,000
27-May-2015   Gransing   7,500,000
24-Jun-2015   Prudential Brokerage Ltd   7,500,000
4-Aug-2015   Convoy IS   3,000,000
13-Aug-2015   UOB Kay Hian (HK) Ltd   7,500,000
Total      48,000,000

It appears likely that Mr Law deposited his 3m shares with Convoy IS, as all the other deposits matched the 7.5m option grants.

Incidentally, the other pre-IPO investor in 10% of Convoy IS is Howard Jiang Qi Hang, who featured in several previous investigations on Webb-site Reports.

Gransing is a name you will see again - it has acted 4 times as a placing agent for Convoy FH, in a bond placing on 21-Jan-2015 and a bond placing on 16-Sep-2014 as well as two unannounced bond placings on 8-Jul-2014 and 14-Nov-2014 mentioned in Convoy FH's annual report. Gransing's client list in Webb-site Who's Who also shows that it has acted as placing agent for Hao Wen, Suncorp and WLS Holdings Ltd (WLS, 8021), a company which we cover below.
CIFG-Lerado cross-holding

On 22-Apr-2015, probably in response to queries from the regulators, Lerado made a "voluntary announcement" trying, and in our view failing, to justify its decision to use shares rather than cash to buy the property from CIFG.

On 21-May-2015, Lerado announced that it had agreed to subscribe for 130m shares (12.44%) of CIFG at at $0.275, or $35.75m in total, setting up a cross-holding between the two, as CIFG still held 8.59% of Lerado. This was, incidentally, highly dilutive to CIFG, a 66.9% discount to its NAV per share at 30-Apr-2015 of $0.83. This fact was omitted from the CIFG announcement. The issue completed on 2-Jun-2015. Our system indicates that Lerado deposited 70m CIFG shares with Gransing on 23-Jun-2015, and deposited 60m CIFG shares with Kingston Securities Ltd (Kingston) the next day.

On 11-Aug-2015, Lerado cut its holding in CIFG from 128.8m shares (12.32%) to 103.392m shares (9.89%), selling the shares at an average $0.196, a 29% loss. As the stake was cut below 10%, Lerado is no longer a "substantial shareholder" and "connected person" of CIFG under the Listing Rules.

Policy note: the disclosure threshold for substantial shareholdings in HK-listed companies was reduced by law from 10% to 5% on 1-Apr-2003, but the Listing Rules have never been updated to match this.
Lerado issues shares to CAID (0048)

On 26-May-2015, Lerado announced the acquisition of Brilliant Summit Ltd from China Automotive Interior Decoration Holdings Ltd (CAID, 0048), for HK$45m, but again, not using any of the cash pile. Instead, it issued 75m shares at $0.60 each, or 7.82% of the enlarged issued shares of Lerado, further diluting existing shareholders. The target was "engaged in the trading of garment accessories, such as nylon tape, polyester tape and polyester string". It had net assets of just $7.24m and a net profit in the year to 31-Mar-2015 of $0.9m.

In giving reasons, Lerado claimed that "certain fabric products and expertise knowledge of the Target Group can be utilised in the Group's business of manufacturing medial products, including but not limited to powered and non powered mobility aid, wheel chairs and other durable equipment". Stretching the polyester tape further, they claimed that the Target Group's "sizable clientele" would allow Lerado to "penetrate into a new market." This rather ignores the fact that Lerado already had its own expertise in sourcing fabrics for baby strollers, infant car seats and mobility aids over many years.

CAID had purchased Brilliant Summit from its manager, a Mr Cheung Ngai, for HK$42m on 15-May-2013. He apparently goes by the name of "Elman" and apart from Brilliant Summit (products here), he runs another company in the same line of business called San Wah Holdings Ltd. CAID, announcing the sale of Brilliant Summit to Lerado, said that "as a result of the constantly increasing costs of sales and competition, the Company is of the view that its business is not expected to grow at its current rate without further investments and developments." CAID intended to hold the Lerado shares "to achieves earnings in the form of capital appreciation."

The transaction completed on 16-Jun-2015. We can see that CAID deposited the 75m new Lerado shares with Win Fung in two batches, 40m on 23-Jun-2015 and 35m on 14-Jul-2015. Of all the brokers it could use, why this little firm, and why is this the same firm in which Mr Chen and one of the option holders also deposited their Lerado shares? The shares are positioned in the same custodian ahead of an important vote on Lerado's future. To summarise those deposits of shares with Win Fung:
Shareholder   Shares   Deposit date
Mr Chen (Hwa Foo)   96,805,800   9-Dec-2014
An exercised option holder   7,500,000   29-Apr-2015
CAID   40,000,000   23-Jun-2015
CAID   35,000,000   14-Jul-2015
Total   179,305,800

CAID's new INED or mooncake coordinator

For some light relief, on 4-Sep-2015 CAID appointed a new INED and audit committee member, Ms Adeline Ng Li La, who "has over 10 years of experience in human resources and corporate management". She also has a Certificate of Human Resources Management from HK Baptist University and is "a senior administrative officer of a renowned international technology company in Hong Kong". Wow, she sounds highly qualified, doesn't she?

A quick search discovers her Linked In page (copy here). Since May 2015, she has been personal assistant to the General Manager of Amadeus Hong Kong Ltd - and her duties include "supervise the receptionist and the cleaning lady", "coordinate mooncake distribution", "manage pantry cabinet" and planning the Christmas party. Now this of course is all important work, but probably not that relevant to the duties of a listed company director and audit committee member. We wonder how she was introduced to CAID. This is probably not what HKEx had in mind when it started promoting board diversity, but it's what you get when as a regulator, you let controlling shareholders vote on INED elections.
CAID and Convoy

On 30-Jun-2015, CAID announced a placing via Convoy IS, listing the Financial Adviser as Opus Capital Ltd (Opus Capital) and using the full 20% general mandate of 276.48m shares at $0.485, a 19.2% discount to the closing price of $0.60. However, the price then collapsed, and on 9-Jul-2015, they cut the placing price to $0.345, a 42.5% discount to the original closing price. The placing completed on 21-Jul-2015. Our CCASS analysis shows that 125.48m shares were deposited with Astrum, only 68m with Convoy IS and 25m with Kingston, with the remaining 58m to 4 other brokers.

CAID's interim results for 30-Jun-2015 disclosed a huge unrealised gain of RMB 448.6m (HK$561m) on "held-for-trading investments" which then had a market value of RMB564.0m (HK$705m). In other words, a gain of about 389% in 6 months. No normal stock will give you that, but a bubble stock will. Net tangible assets at 30-Jun-2015 were RMB761.9m (HK$952m) or about $0.689 per share, so the investments accounted for 74% of that.

CAID's interim report contains the following statement, which we regard as false and misleading:

"At 30 June 2015, there was no significant investment held by the Group."

Policy note: Some of the listed companies which have recently reported exceptionally large percentage gains on listed securities must own bubble stocks. If you know what stocks a listed company owns, then you would be able to take the SFC's concentration warnings into account and discount those investments to what you regard as fair value, rather than relying on inflated market valuations. But unfortunately, the Stock Exchange and SFC do not require such disclosure, even when inflated listed investments make up the bulk of a companies net assets. They simply rely on the company having to announce losses as inside information after the bubble has burst, rather than telling you that they hold bubble stocks in the first place.

This is despite the fact that Listing Rules Appendix 16 paragraphs 32(4) and 40(2) (or on GEM, Rules 18.41(4) and 18.59) require that companies disclose "significant investments held, their performance during the financial [year/half-year] and their future prospects". It seems that SEHK just doesn't want to enforce this.

Although the Listing Rules which require such disclosure contain no definition of "significant", it should be seen in the context of the size of the holder's balance sheet and therefore the potential impact on shareholder value if the market value of the investments were to change. Whether the investment is "held-for-trading" or as a long-term "available for sale" asset is irrelevant to the potential impact on shareholder value, except for the fact that profits tax applies to trading.

Separately, many listed companies have avoided the notifiable transaction rules in Chapter 14 by declaring themselves to be "in the business" of trading securities. This then allows them to invest as much of their shareholders' money as they like on purchasing "held-for-trading" securities without announcing the transactions, because they are deemed transactions "of a revenue nature in the ordinary and usual course of business" under Listing Rule 14.04(1)(g). The Stock Exchange should close this loophole. Investments in securities, regardless of how they are booked, should be subject to the notifiable transaction rules.

You might wonder then why CAID did not just cash in some of its $705m of investments rather than raise $94.2m in a placing of 20% new shares, claiming that it needed the money. The results failed to identify these spectacular investments, but noted that by 31-Aug-2015, the value had decreased by 23.5% since the end of June. That's about HK$224m of loss.
CIFG and Lerado: parallel open offers

On 17-Aug-2015, Lerado announced a massive 3:1 open offer of new shares at $0.15 each, a 68% discount to the market price of $0.47, with no excess applications. The primary underwriter is Gransing, the Financial Adviser is Octal Capital Ltd (Octal Capital) and the IFA is Opus Capital, the same as the Financial Adviser to CAID.

As we've said before, deep discount open offers are a form of extortion of existing shareholders, because they are faced with the choice of either being heavily diluted economically, or putting in cash to prevent the dilution. Unlike rights issues, the holder does not have the third option of selling his entitlements to recover the discount and thereby mitigate the economic damage. For this reason, the UK Listing Rules include a limit (set decades ago) of not more than a 10% discount on open offers. Hong Kong, still in many ways a developing market, allows this extortion to continue. See UK Listing Rule 9.5.10.

Adding to this abuse is that an open offer often involves no ability for shareholders to make "excess application" for unsubscribed shares. Nor are the unsubscribed shares sold in the market to capture the premium above the issue price for the benefit of passive shareholders. This leaves the underwriter with the benefit of the discount on shares which shareholders cannot or do not subscribe. In these circumstances, the open offer in practice is a conditional placing of deeply discounted shares with the "underwriter", subject to a right of first refusal by existing shareholders pro rata to their holdings.

Gransing cannot end up as a controlling shareholder of Lerado, so it has to have sub-underwriters. From a disclosure of interest, we can see that Capital VC (mentioned above) is a sub-underwriter for 370m shares, or 9.64% of the enlarged capital. Another disclosure shows that Barry Lau Wang Chi is a sub-underwriter for 370m shares. He is a Responsible Officer of Adamas Asset Management (HK) Ltd (Adamas), which will feature below.

On 9-Sep-2015, CIFG announced a huge 8:1 open offer with no excess applicatoins, "underwritten" by Black Marble Securities, which is owned by Lerado. The Financial Adviser to CIFG is Akron Corporate Finance Ltd (Akron) and the IFA is Opus Capital, the same as Lerado's IFA and CAID's FA.

As Lerado owns less than 10% of CIFG, the underwriting is not a "connected transaction". However, it is blatantly clear that Lerado has a "material interest" in the CIFG transaction and should be prohibited from voting in the EGM of CIFG to approve the open offer. Furthermore, Lerado stands to benefit from any unsubscribed shares at the discounted offer price. As there are no excess applications, this is in effect a discounted placement with Lerado subject to clawback by existing holders.Listing Rule 2.15 states:

"Where a transaction or arrangement of an issuer is subject to shareholders' approval under the provisions of the Exchange Listing Rules, any shareholder that has a material interest in the transaction or arrangement shall abstain from voting on the resolution(s) approving the transaction or arrangement at the general meeting."

Correspondingly, we submit that CIFG should not be permitted to vote in the Lerado EGM, because obviously Lerado is engaged in a commercial transaction with CIFG to provide it with funding under the CIFG open offer.
Mr Chen's "disposal" at a 53% loss

Now, according to a disclosure of interest, on 9-Sep-2015, Mr Chen, ED of Lerado, sold his entire interest of 97,823,800 shares, including a personal holding of 1,018,000 shares and those held by Hwa Foo. Some of it was on-exchange at $0.25, but most of it was off-market at $0.22 because total market volume that day was only 7,625,800 shares. When we look at CCASS movements, on the settlement date of 11-Sep-2015 we see his personal holding of 1,018,000 shares leaving Core Pacific Yamaichi, and only 2,805,800 shares leaving Win Fung, and there have been no reductions in Win Fung's balance since then. So it appears that the other 94,000,000 shares were transferred, off market, to other clients of Win Fung and remain there.

As an ED of Lerado, Mr Chen would have been prohibited from voting in favour of the proposed open offer, so it is a matter of great concern that these shares may have been placed in friendly hands, along with the positions held by CIFG and CAID, to vote in favour (if they are not required to abstain).

This disposal, at a deep discount to cash and to net asset value, of a key block of shares, really makes no economic sense for Mr Chen. If he was unhappy with the effects of the proposed open offer, he could have joined us in voting against the proposal. He was only prohibited from voting in favour. At a purported disposal price (for most of his shares) of $0.22, he appears to have accepted a loss of 53% since the open offer was announced. We find this hard to believe. Accordingly we urge the SFC to investigate the true nature of the transactions and who has bought the shares. We would be surprised if the "buyers" had not been mentioned elsewhere in this article.

China 33 Media (8087)

There's another open offer we need to tell you about, and the background is this.

On 26-Jan-2015, China 33 Media Group Ltd (C33M, 8087) announced that its controlling shareholder, Lizhong Ltd (Lizhong), which had held 243.756m shares (43.13%) had 5 days earlier pledged 192m shares (32.00%) to a lender and on 22-Jan to 26-Jan Lizhong had sold its remaining 66.756m shares (11.13%) in the market. They didn't say who the lender was, but a subsequent disclosure of interest shows that it is funds managed by Adamas, which was mentioned above. Our analysis shows the average price received by Lizhong in the 3 days was $0.4192 per share, a total of $27.98m. Now, why did Lizhong need to sell those shares and borrow that money by pledging the remainder? Read on.

On 10-Apr-2015, CIFG, via its 100% subsidiary New Express Investment Ltd, agreed to subscribe 120m shares (16.67%) of China 33 Media Group Ltd (C33M, 8087) at $0.22, exhausting its general mandate, for a total of HK$26.4m. The deal completed on 22-Apr-2015, diluting Lizhong from 32.00% to 26.67%. Our system shows that on 6-May-2015, CIFG deposited its C33M shares with Gransing.

Three months later, on 24-Jul-2015, C33M announced a massive 7 for 1 open offer at $0.10, a 75.6% discount to the closing price of $0.41, without excess applications. The Financial Adviser was Octal Capital (the same as for Lerado's open offer), and the underwriters were Gransing, Kingston and RHB OSK Securities HK Ltd (RHB OSK). The IFA again was Opus Capital, the same as for Lerado. Lizhong undertook to take up part of its entitlement amounting to 844,799,700 shares, which to the nearest thousand is 4.4 shares for each share it owns, not 7. That would cost it $84.5m, but of course, it had already raised about $27.98m by selling shares in the market in January, so there was a funding gap of $56.5m, or about $0.294 per existing share, which it might have borrowed from Adamas funds.

If CIFG was to maintain its holding, it would have to put in another $0.70 for each share it held. It had sold a few shares but still held 113.622m (15.78%). The share price dived 26.8% on the day after the news, but the prospect strangely seemed to delight CIFG, which undertook not to sell any more and to take up all its entitlements to 795.354m shares at a cost of $79.5m. However, on 4-Aug-2015, C33M announced that it and Gransing had agreed to cut CIFG's commitment to 290m shares. As a result CIFG would be diluted to 7.01% of C33M.

Under GEM Listing Rule 10.39(1) or Main Board Listing Rule 7.24(5)(a), if an open offer is at a ratio higher than 1 for 2 then it must be approved by "independent" shareholders excluding the controlling shareholder or, if none, the executive directors and their associates. So the largest holder of C33M, Lizhong, could not vote in favour at the EGM, as it is an associate of the Chairman.

How convenient, then, that there was another "independent" shareholder who could vote in favour. Look at the EGM results on 31-Aug-2015. CIFG almost certainly voted its 113.622m shares in favour, and only 2,050 other shares voted in favour, while 28,638,000 shares voted against. The open offer was thereby approved, and the prospectus was published on 14-Sep-2015.
Update, 26-Sep-2015

The C33M open offer prospectus discloses that several sub-underwriters have been engaged. Gransing, with a commitment of 1,905,200,300 shares (33.07% of the enlarged shares), engaged SBI CCFS for 800m shares (13.89%) and 3 other unnamed sub-underwriters for a total of 540m shares (9.37%), each with less than 5% of enlarged shares. RHB OSK, with a commitment of 500m shares (8.68%) had engaged 2 unnamed sub-underwriters to take all of them.

Kingston, with an underwriting commitment of 1500m shares (26.04%), had engaged but then terminated 4 sub-underwriters to take all of it. One was Harvest Aspect International Ltd, which a filing shows is owned by William Yu Tsung Chin, for 644.64m shares (11.19%). The remaining 3 each had less than 5% but totaled 14.85%. After these 4 were terminated, Kingston engaged a single sub-underwriter for the whole lot. Guess who? Black Marble Securities (owned by Lerado).

SBI CCFS and Black Marble have each failed to file a disclosure of interest.

The denominator in the calculation of percentage for disclosure of interests under s308 of the Securities and Futures Ordinance is based on the number of "issued shares", not the number which may be in issue in the future. So in a 7:1 open offer, there are new shares equivalent to 700% of existing shares. All the filings by the underwriters and sub-underwriters in the C33M case use the wrong denominator (the number of shares which will be in issue if the open offer completes) and hence show the wrong percentage, which should be multiplied by a factor of 8. Anyone with an underwriting commitment equal to 5% or more of the existing shares (in the case of C33M, 36m shares) should make a filing, and clearly, that has not happened, with several sub-underwriters of Gransing, RHB OSK and Kingston. The SFC should require them to correct their filings and to procure filings by their sub-underwriters, including those which have now been terminated.
GreaterChina Professional Services (8193)

Now let's look at how Lerado (via Black Marble Securities) and Akron (Financial Adviser to CIFG on its open offer) have been working together in another transaction.

GreaterChina Professional Services Ltd (GPS, 8193) is listed on GEM and owns Greater China Appraisal Ltd, which values real estate and other assets. On 13-Nov-2014, GPS began to deviate from its core business, by buying 80% of Golden Vault Ltd, which indirectly owns a mainland advertising business with in-elevator poster frames and LCD displays in Changshu, PRC, for HK$110m in promissory notes.

Golden Vault had turnover of RMB 7.34m in 2013 and net assets of RMB 5.73m (HK$7.16m) at 30-Sep-2014. This business was valued by Roma Appraisals Ltd at $184m, because, hey, elevators are difficult to get into - especially when they are going up. That valuer is owned by Roma Group Ltd (Roma, 8072) and the financial adviser on the profit forecast was Akron.

A disclosure of interest shows that on 11-May-2015, China Environmental Energy Investment Ltd (CEEI, 0986) increased its holding in GPS from 2.63% to 5.13%, buying 21.495m shares at $0.556 per share. From our CCASS system we see the shares deposited with Southwest Securities (HK) Brokerage Ltd (SWSHK, formerly Tanrich Securities Co Ltd).

On 8-Jul-2015, Roma announced that it had agreed to lend up to HK$58m to Brilliant One Holdings Ltd (Brilliant One) for 12 months at 12% p.a., secured by 310.85m shares in an unnamed GEM-listed company and guaranteed by persons named Ip Kwok Kwong and Wong Chi Keung, the ultimate owners of Brilliant One. That non-disclosure of the GEM company's name was silly, because it was easily determined that Brilliant One was the 36.23% controlling shareholder of GPS, which eventually announced the loan facility on 4-Aug-2015. Ip Kwok Kwong is the MD of GPS, while Wong Chi Keung (this one) is an accountant with 13 INED positions. The loan facility includes a maximum loan-to-value ratio of 65%. So if they draw the full loan, then the share price falling below $0.287 would trigger a top-up obligation. The shares were moved from Emperor Securities Ltd to Infast Brokerage Ltd on 9-Jul-2015.

On 9-Jul-2015, the day after the share pledge, GPS announced a huge proposed placing of shares under a specific mandate, 2.6bn shares at $0.10, a 74.4% discount to the market price of $0.39, via Black Marble Securities, which is owned by Lerado. The Financial Adviser is Akron (the same as for Lerado's open offer). That represents 303% of the existing shares, and they are not even bothering to make the shares available to existing shareholders by an open offer or rights issue. Simultaneously, it was proposed that SEEC Media Group Ltd (SEECM, 0205) would subscribe 1.4bn shares at the same price, a total of $140m, for 28.82% of the enlarged shares.

Policy note: As we mentioned above, open offers or rights issues larger than 1 for 2 (a 50% enlargement of issued shares) must be subject to shareholders' approval with controlling shareholders abstaining, or if there are none, then with executive directors and their associates abstaining. That does provide some small measure of protection, (unless the vote is being manipulated with warehoused shares). However, this protection is negated by the fact that a massive placing under a "specific mandate" can be approved without requiring controllers or executive directors to abstain. The Listing Rules should be amended to close the loophole so that controllers/executive directors should be required to abstain from voting in favour of any proposal to approve a "specific mandate" that enlarges the issued shares by more than 50%.

Brilliant One, which has pledged its controlling shareholding to Roma, was allowed to vote to approve this outrageous proposal.

Of the $395.1m net proceeds, GPS intends to use $100m in its money-lending subsidiary, Colbert Finance Ltd, and $150m to develop its securities brokerage business. It doesn't own a stockbroker yet, but it plans to either buy one or set one up. The EGM approved the placing on 14-Sep-2015 without objection. With an avalanche of shares due to hit the market at $0.10, it is quite impressive that the stock still closed at $0.495 on 23-Sep-2015.
SEECM (0205)

Now let's look at a fourth open offer involving Lerado (via Black Marble Securities) and Opus Capital.

SEECM is, or was, principally engaged in advertising agency, distribution of books and magazines. And securities trading, of course, like all shoddy companies should be. It announced its investment in GPS on 10-Jul-2015.

On 17-Jul-2015, SEECM announced that it had agreed to subscribe 103.02m shares (16.67%) of China New Economy Fund Ltd (CNEF, 0080) at $0.385, for a total of HK$39.66m, exhausting CNEF's general mandate. CNEF is another Chapter 21 investment company, and that was a 61.5% discount to the NAV of CNEF at 30-Jun-2015 of $1.00. As we noted in our article Some Bubbles for New Year on 31-Dec-2014, CNEF had shares in the Finsoft bubble alongside Convoy FH, and Tony Tai Man Hin, the CFO and Company Secretary of CNEF, was an INED of Finsoft. He retired from Finsoft on 5-May-2015. The CNEF announcement of the subscription named Astrum as the placing agent and did not mention the discount to NAV.

Also on 17-Jul-2015, SEECM announced that it is applying to the SFC to set up a stockbroker. Now everyone wants to be a broker. Lerado, GPS and SEECM.

On 19-Aug-2015, SEECM announced a huge open offer, 3 for 1 at $0.10, a 61.5% discount to the market price of $0.26. The Financial Adviser is Opus Capital (the FA of CAID and the IFA of C33M and Lerado), the IFA is Hercules Capital Ltd (Hercules) and the underwriter is Black Marble Securities, owned by Lerado. Again there will be no excess applications, so the "underwriter" gets the benefit of discounted unsubscribed shares. Of net proceeds of $624m, SEECM plans to use HK$365m to set up a stockbroker, $30m to set up a corporate finance advisory and asset management firm and $225m for the acquisition and operation of an unspecified e-commerce platform.

The shares dived on the news, dropping 35.4% to $0.168 the next day. But they weren't done yet. On 9-Sep-2015, they decided to increase the carnage by consolidating the shares 2:1 and then changing the offer terms to 5 new shares for each consolidated share at $0.10, equivalent to $0.05 before the consolidation. So the offer discount becomes an effective 80.8% discount to the original closing price of $0.26. This will raise a bit less though, HK$519m. This news caused another drop in the price, by 16.7% from $0.156 to $0.13 the next day. So the stock price had now halved even before putting the plan to a vote.

A circular for the capital reorganisation went out on 18-Sep-2015 for an EGM on 12-Oct-2015. We urge shareholders to vote against the resolutions. They are special resolutions that require a 75% majority to pass, so blocking it is more feasible than usual. If it passes, then a circular to propose the open offer is due out on 28-Oct-2015.
Chan Cheong Yee and CESHK

There is a common person to a number of these companies. Chan Cheong Yee (C Y Chan) is a Responsible Officer of China Everbright Securities (HK) Ltd (CESHK). CESHK is the investment manager of four Chapter 21 companies: CIFG, CNEF, China Innovation Investment Ltd (CII, 1217) and China Investment Development Ltd (CID, 0204). C Y Chan is an ED of all 4 companies, and he is also an ED of Capital VC.
CID (0204)

CID is in its own little bubble - it closed on 23-Sep-2015 at $0.157, compared with NAV of $0.024 at 31-Aug-2015.
CEEI (0986)

Now remember we mentioned CEEI, the investor in GPS? On 12-Nov-2014, CEEI announced a placing of 48,190,489 shares at $0.97 per share to raise HK$46.28m, exhausting the general mandate, followed by a huge 8:1 rights issue at $0.195 per share, an 82.4% discount to the market price of $1.11, to raise between $376m and $451m. Excess applications were allowed. At the time, CEEI had no substantial shareholders.

Win Fung was both the placing agent and the rights issue underwriter. The placing was on a best efforts basis, and on 27-Nov-2014, the placing price was cut to $0.66. The placing was completed on 3-Dec-2014, and all the shares were deposited into the CCASS account of Win Fung for its clients. Not a single share moved out of that account until after the EGM to approve the rights issue. And guess what, the EGM results on 18-Dec-2014 show that the number of shares voted in favour of the rights issue was 48,437,576, just 247,087 more than the number of placing shares.

On 12-Mar-2015, CEEI announced that it would start investing in "quality stock and other financial products", so don't say you weren't warned! On 17-Apr-2015, CEEI announced that it had bought 51m shares (0.337%) of Suncorp (mentioned above) that day in the market for HK$61.45m at an average of $1.205 after a huge run up in the share price following completion of a placing at $0.245 per share on 13-Apr-2015. The stock closed at $0.204 on 23-Sep-2015, down 83% since the purchase by CEEI. Some of the other investments by CEEI are covered below.
WLS (8021)

Now let's tell who may have benefitted from a huge bubble in the shares of WLS Holdings Ltd (WLS, 8021), a construction company.

As background, on 21-Oct-2014, WLS announced that CIFG would subscribe for 79m shares (16.67% of enlarged) at $0.177, a 0.6% premium to market, exhausting the general mandate. On the face of it, WLS had no other substantial shareholders. The deal completed on 31-Oct-2014. The shares were deposited with Fordjoy Securities and Futures Ltd (Fordjoy) on 5-Nov-2014. CIFG rapidly sold off the shares, from 12-Nov-2014, dropping below 5% on 3-Dec-2014.

WLS owns a licensed money-lender, Gold Medal Hong Kong Ltd, incorporated on 19-Mar-2014 and licensed on 26-Nov-2014.

On 21-Jan-2015, WLS announced a 5:1 share consolidation and a proposed massive placing of 540m consolidated shares (563.16% of the existing shares) at $0.30 via SWSHK (then Tanrich Securities Co Ltd). The Financial Adviser was Akron. This placing price was a 42.3% discount to the adjusted closing price of $0.52. At the 5-Mar-2015 SGM to approve the placing, votes in favour were 89,597,500, or 18.69% of the issued shares. Total turnout was only 19.00%. We suspect most of those votes in favour were shares previously held by CIFG, but we'll never know for sure.

Of the 540m shares, we know that CEEI took 63m shares (9.91% of enlarged), because it announced the subscription on 18-Mar-2015. Disclosures of interests show that Samuel Chiu Se Chung, a licensed Representative of Roofer Securities Ltd, also subscribed 9.9%. Unity, mentioned above, subscribed 31.5m shares (4.95%), as did Capital VC, mentioned above and Avant Capital Management (HK) Ltd (Avant), as asset manager. Mr Ye Ruiqiang subscribed 4.95%. As of 31-Dec-2014, he owned 6.44% of Capital VC.

There are 4 subscribers whom we cannot identify. A person named Zhang Yan subscribed 40.67m shares (6.40%) which were probably deposited with Emperor Securities Ltd, and a person named Zheng Wanying subscribed 31.33m shares (4.93%). A person named Civic Cheung Sun Kei subscribed 54m shares (8.49%) and another named Cheung Kam Hong subscribed the same number.

A person named Wong Chun Wah subscribed 23m shares (3.62%). It's a common name but we see that the same number went to the custody of Henik Securities Ltd, where there is a licensee called Wong Chun Wah. Similarly a person named Ma Kin Lung subscribed 31.0m shares (4.88%), and we see that number deposited with Get Nice Securities Ltd, where Ma Kin Lung is a licensed representative.

A person named Tam Siu Ki subscribed 54m shares (8.49%), increasing his stake to 9.28%. That may or may not be the same as Simon Tam Siu Ki, who was a representative of RHB OSK (then known as Prudence Securities Co Ltd) until his license was revoked on 30-Oct-2003 for rat-trading and other trading malpractices. In summary, then after the placing, the holdings were:
  Name   Shares   Stake %
1   CEEI (0986)   63,000,000   9.91
2   Samuel Chiu Se Chung   63,000,000   9.91
3   Tam Siu Ki   59,000,000   9.28
4   Cheung Kam Hong   54,000,000   8.49
5   Cheung Sun Kei, Civic   54,000,000   8.49
6   Zhang Yan   40,670,000   6.40
7   Avant   31,500,000   4.95
8   Capital VC (2324)   31,500,000   4.95
9   Unity (0913)   31,500,000   4.95
10   Ye Ruiqiang   31,500,000   4.95
11   Zheng Wanying   31,330,000   4.93
12   Ma Kin Lung   31,000,000   4.88
13   Wong Chun Wah   23,000,000   3.62
  Total   540,000,000   85.71

The WLS placing completed on 27-Mar-2015 and the CCASS deposits are here. By that time, the stock had more than doubled to $1.25. Unlike the allotments after the IPO, there was no concentration warning. Yet 13 holders held 85.71% of the stock.

The price continued to climb. On 15-May-2015, with the stock at $2.26, 7.53x the placing price, WLS announced a 7:1 bonus issue. The stock spiked again and was suspended at $4.27 on 17-Jun-2015, prompting the company to announce that it was negotiating for a possible share issue. After a brief correction to $2.50, it was suspended again on 19-Jun-2015, pending announcement on 23-Jun-2015 of a "framework agreement" for possible subscriptions by Avant and Shin Kong Capital Management Inc (SKCM) of 1920m and 5760m shares (post-bonus) at $0.06875, a 78% discount to the bonus-adjusted closing price of $0.3125, to raise $528m gross and enlarge the issued shares by 151%.

While the stock was suspended, it went ex-bonus on 23-Jun-2015 and the bonus shares were distributed on 3-Jul-2015, so for 10 days straddling the half-year point, only 1/8 of the company was tradable. When trading in those shares resumed on 24-Jun-2015, the stock shot up again on heavy volume, reaching a daily high of $1.22 on 26-Jun-2015. Remember that most of the existing shares had been issued at a bonus-adjusted $0.0375, so they were now up 32.5x. WLS closed at $1.05 on 30-Jun-2015, allowing those listed companies which held the stock to book enormous "fair value gains" in their interim results. At the end of June, WLS had a market capitalisation of HK$5341m, compared with net tangible assets at 30-Apr-2015 of HK$282m ($0.055 per share), so it was trading at 18.9x NAV.

Disclosures of interest indicate that SKCM was using a vehicle called SKCM TMT I, L.P., which was 50% owned by Chiang Chun Yi and 50% by Yam Tak Cheung, and managed by SKCM TMT GP Co. Ltd, which is 40% owned by SKCM. After all that excitement, SKCM backed out of the deal on 8-Aug-2015 citing disagreement over due diligence on WLS, but Avant signed a new agreement on 12-Aug-2015 to continue to subscribe 1920m shares at $0.06875, conditional on WLS issuing at least 252m shares in a fund-raising exercise so that Avant ends up with 29.48% of less - certainly under the 30% takeover trigger.

Now this long and winding road takes us back to Lerado. On 18-Aug-2015, WLS announced two placings via Black Marble Securities, owned by Lerado. The underwritten tranche is of 360m shares (7.08% of existing shares) at $0.06875, and there is a further "best efforts" placing of 5400m shares (106.15%) at the same price, at 82.1% discount to the closing price of $0.385. Together these could raise $389.22m mostly for, you guessed it, money-lending and securities business. The shares closed on 23-Sep-2015 at $0.27, down 74.3% since the end of June, but still at 4.9x NAV.
Raise the umbrellas: China Jicheng (1027)

Perhaps the most ridiculous bubble in our market at present (although there is a lot of competition for that title) is umbrella maker China Jicheng Holdings Ltd (CJ, 1027) which listed on 13-Feb-2015. It peaked on 18-Sep-2015 at $3.18 with a market value of HK$47.7bn, compared with net tangible assets in the 30-Jun-2015 interim results of $399.6m, or $0.0267 per share. So it was trading at 119x NTA.

Adjusting for a 25:1 stock split in June, CJ's IPO priced the shares at $0.044, so was up 72.3x since the IPO. This gives new meaning to the term "umbrella movement". The initial custody positions of the 150m IPO shares (25%) are in our records here. The top 3 brokers will now be familiar to you: Gransing (8.72% of CJ), Win Fung (8.18%) and SWSHK (3.73%), a total 20.64% or 82.54% of the float.

On 14-May-2015, the SFC warned that 16 shareholders owned 24.02% of CJ, or 96.08% of the float, leaving 0.98% of CJ for everyone else. The stock closed at $13.76 the day before that warning, or $0.5504 after the stock split, so it is up 5.14x since then.

In its annual results for 31-Mar-2015, CEEI (mentioned above) disclosed a holding of 12.67m shares (2.11%) in CJ at a purchase cost of $1.10 per share, which means they were allocated in the IPO, because they have never traded that low. After the stock split that will be 316.75m shares at $0.044. So CEEI doesn't always pay bubble prices for bubble shares - it occasionally gets in at the bottom.

The controlling shareholder of CJ is its Chairman, Huang Wenji, with 11.25bn shares (75%) which, on paper, makes him a US$ umbrella multi-billionaire. We note that on 17-Sep-2015, he deposited 1.5bn shares into CCASS with Black Marble Securities, owned by Lerado. That could be preparation for a placing of existing shares and possibly a subscription of new ones, if anyone is dumb enough to buy them.

Lerado interim results show massive gain

Lerado is one of several companies which have made enormous market gains in the first half of 2015 without disclosing what stocks it bought. In the 30-Jun-2015 interim results, it disclosed "held-for-trading investments" comprising "equity securities listed in Hong Kong" of HK$702.1m. It also said that by 28-Aug-2015, the value had declined by 11%. It booked an unrealised gain of $626.5m, implying a purchase cost of $75.6m and a gain of 829% in 6 months or less. No normal stock does that. Whatever stock(s) they hold, it must be bubble paper, and investors deserve to know what it is so that they can make their own assessment of "fair value" rather than relying on an artificial market price.

After providing for $105m of profits tax on the gains, Lerado had net tangible assets at 30-Jun-2015 of $1220m, or $1.27 per share. But if those gains evaporate, then the NTA drops to $698.5m, or $0.728 per share. Both figures are before dilution from the proposed open offer. If the offer proceeds, then that NAV would be diluted to about $0.430 (with the gains) or $0.295 (without the gains). Both figures assume that Lerado loses the Dorel arbitration, which is worth $307m, which is $0.320 per share before the open offer or $0.080 per share after the open offer.
Capital VC's open offer

On 13-Mar-2015, Capital VC announced a 5:1 share consolidation to be followed by a 7:1 open offer at $0.25 per consolidated share without excess applications. That was a 76.5% discount to the adjusted closing price of $1.065 per share. The Financial Adviser was Akron, and the "underwriter" was SBI CCFS. The last published NAV at 28-Feb-2015 was an adjusted $4.821, so the issue discount to NAV was 94.8%. The stock sold off on the news, down 39.9% the next day to an adjusted $0.64.

Policy note: Chapter 21 investment companies like Capital VC have to publish their NAV monthly. This involves valuing all their listed investments at market prices, so they know what they are. Until 2002, these announcements had to be published in newspapers, so space was at a premium. Now that announcements are online for the last 13 years, this is no longer the case. Yet the Listing Rules still only require Chapter 21 companies to disclose the top 10 investments once per year in the annual report. This is ridiculous. The top 10 investments should be disclosed every month so that shareholders know what risks they are taking.

Again, investors faced the extortion of having to either see the investment heavily diluted, or put in more cash, and no excess applications were allowed, so it is really a placing with the "underwriter" subject to first refusal of existing holders pro rata. The underwriter benefits from any unsubscribed shares at a discount to market. To eliminate the possibility of SBI CCFS holding a controlling stake, it had to arrange sub-underwriters. They included Gransing, for 180m shares, Jun Yang Securities Co Ltd (Jun Yang Securities), for 152m, Avant, for 142.5m, and Fordjoy, for 80m shares.

Incidentally, SBI CCFS is 52% owned by Cao Guo Qi, a director of several listed companies, and 48% by Zhang Xiongfeng, the current Chairman of CMG, mentioned above.

On 11-Jun-2015, Capital VC shareholders approved the consolidation and open offer without objection. Voting turnout was only 14.39% of the issued and eligible shares, probably including the 6.44% owned by Ye Ruiqiang.

Policy note: shareholders are often unaware of opportunities to protect themselves by voting against such egregious proposals, because the SFC does not require banks and brokers who hold their stock to inform them of EGMs and seek voting instructions. As a result, most banks and brokers, in the small print of the client contracts, state that they are not obliged to do so. This is a major barrier to investor participation in governance, and the SFC should act to resolve this, as we said in our submission Principles of Responsible Regulation (26-May-2015).

On 24-Jun-2015, six days before Capital VC's financial year-end, it announced that it was changing its year-end to 30-Sep-2015, so it would produce a second set of condensed "interim" results for the 12 months to 30-Jun-2015. The purported reason for this was:

"to align the Company's financial year end date with that of the Company's principal associate, CNI Bullion Limited, which is the Group's substantial investment."

This holds no water though. Remember, Capital VC is a Chapter 21 investment company, so under Rule 21.04(3)(a), it is not allowed to take "legal, or effective, management control of underlying investments" and under Rule 21.04(3)(b) it is required to maintain a "reasonable spread of investments". So there is no logical reason to align the year ends of Capital VC and any of its investments, including CNI Bullion Ltd, which only accounted for 9% of Capital VC's NAV at 31-Dec-2014.

So what was the real reason for extending the year-end? In our view, to delay the annual disclosure of the portfolio. It's so embarrassing to have to show that your castle is built on sand.

On 15-Jul-2015 Capital VC announced that its NAV at 30-Jun-2015 was $9.0782 per share, and on 27-Aug-2015 it announced the second interim results for the 12 months to June. Capital VC booked a pre-tax profit on financial assets of $1314m for the 12 months, compared with $163m in the first 6 months, so the second-half profit was $1151m. As an investment company, it does not distinguish between realised and unrealised gains, but we can deduce them from the amount of deferred tax, which is tax that is only payable when they cash out. Note 8 shows deferred tax of $132m, so as profits tax is 16.5% they have about $800m of net unrealised gains, probably in bubble stocks.

Anyway, with that NAV in mind, let's return to the open offer. 7:1 at $0.25, versus NAV of $9.0782, so the open offer would dilute NAV to $1.354 before expenses. Shareholders who did nothing would lose 85% of their net asset value. Yet, when the offer closed on 9-Jul-2015, only 23.7% of the shares were subscribed. That left the underwriters and whoever was behind them with 66.75% of the company, acquired at $0.25 per share. The market price closed that day at $0.32. Due to market losses in July, the NAV closed that month at $1.0292, and $0.8824 at the end of August. Amazingly there was nobody with a disclosed 5% shareholding after the offer closed.

Meanwhile, even in market price terms, the shareholders who did not subscribe (and most of them did not vote against the open offer) had seen the price collapse from $1.065 before the open offer to $0.32, even while Capital VC was racking up huge gains as a holder of the unnamed inflated stocks.
Jun Yang (0397)

Jun Yang Securities is owned by Jun Yang Financial Holdings Ltd (Jun Yang, 0397). Until August, this was known as Jun Yang Solar Power Investments Ltd, but that's out of fashion, so now, like everyone else, it wants to be a financial services powerhouse.

Note 24 on page 113 of Jun Yang's 2014 annual report reveals that it owned 2.49% of Tech Pro Technology Development Ltd (Tech Pro Technology, 3823) and 4.49% of Town Health International Medical Group Ltd (Town Health, 3886). Those had a market value of about HK$235m and $280m respectively, out of total listed equities of $854m. Jun Yang booked an unrealised gain on held-for-trading investments of HK$350m for 2014, without which it would have made a loss before tax of $98m.
Tech Pro Technology (3823)

This is another bubble stock, up 93.14% in 2014, and it has kept on going, up a net 22.62% this year so far. It closed on 23-Sep-2015 at $1.87, valuing the firm at HK$12.13bn. When a company includes the syllable "Tech" in its name twice, you know it is desperate for attention. The company makes LED lamps and losses. Oh and football. Yes, it has bought a French soccer club, FC Sochaux-Montbeliard SA. After all, why sponsor the shirts when you can buy the whole thing?

The interim report at 30-Jun-2015, shows net tangible assets of RMB475m (HK$594m) or about HK$0.092 per share. Turnover for the period was RMB111m, so if you annualize that you get RMB222m or HK$278m. So the shares are trading at about 20.4x NTA and about 44x turnover.

L&A (8195)

This is another bubble stock. L & A International Holdings Ltd (L&A, 8195) makes cashmere sweaters. It listed on 10-Oct-2014 after a placing at $0.06 per share (adjusted for the 10:1 split on 21-Apr-2015). In the placing, the top 10 placees received 89.74% of the float. It closed on 23-Sep-2015 at $2.92, up 48.7x since the listing. The market value is HK$11.68bn, compared with net tangible assets of HK$129m at 31-Mar-2015, or about $0.032 per share, so it trades at 90x book value. Revenue for the year was $350m, so it trades at 33x sales.

Despite this ridiculous valuation, or perhaps because of it, CEEI bought 69.384m L&A shares (1.73%) in the market from 17-Apr-2015 to 12-May-2015, spending a total of HK$112.7m or an average of $1.62 per share. This was announced on 12-May-2015. Of course, we don't know who the sellers were. Lucky them.

On 24-Jun-2015, the SFC issued a concentration warning, noting that 19 shareholders held 23.18% out of the 25% float.
Roundup

What you have seen here is a repeated pattern of abuse. The key steps in several transactions are:

  Position votes in friendly hands which are not visibly connected to controlling shareholders or executive directors, by issuance of new shares or transfer of existing shares.
  Arrange loan financing for any existing controller to take up entitlements, or even sell shares in the market with enough time gap to deter allegations of insider dealing.
  Announce either (i) a large, deep-discount open offer without excess applications; or (ii) a "special mandate" placing, which in the first case will need "independent" shareholders' approval and in the latter, just shareholders' approval.
  Use friendly votes to approve the proposal which damages the financial interests of anyone who cannot or does not put up cash (in the case of a placing, this isn't even an option).
  Complete the fund-raising and receive deeply discounted shares as the underwriter, sub-underwriter or placee of the shares.

Hong Kong deserves better if it wishes to make a claim to be a world-class financial centre.

© Webb-site.com, 2015

183 : GS(14)@2015-10-19 02:41:01

http://webb-site.com/articles/CAID.asp
CAID (0048) gains from umbrella bubble
10th October 2015

In our article Bubbles and Troubles in Hong Kong (24-Sep-2015) we noted that there were huge unrealised investment gains in the interim results of China Automotive Interior Decoration Holdings Ltd (CAID, 0048) for the 6 months to 30-Jun-2015 and that it had failed to disclose what these investments were, claiming:

"At 30 June 2015, there was no significant investment held by the Group"

Webb-site filed complaints with SEHK (under the Listing Rules) and the SFC (under the Securities and Futures Ordinance, that this was a false and misleading statement). Last night, CAID made an announcement, noting that "errors have been found" in this binary statement. So it was false. CAID now discloses 3 investments. The largest by far is about 227.3m shares (1.52%) of umbrella-maker China Jicheng Holdings Ltd (CJ, 1027). As we noted in the article, this stock is in a huge bubble. CAID says these shares were purchased for about RMB 7.9m (HK$9.9m) which implies that they were allocated in the IPO at HK$0.044 (split-adjusted).

At 30-Jun-2015, CAID's shares in CJ were valued at RMB 371.2m, or 48.7% of CAID's net tangible assets of RMB 761.9m. The other 2 holdings disclosed yesterday were 0.7% of Suncorp Technologies Ltd (Suncorp, 1063, also mentioned in our article) and 0.8% of China Properties Investment Holdings Ltd (CPI, 0736). CPI was also in a bubble and has dropped 89.5% from $2.37 to $0.25 since 30-Jun-2015. Suncorp was a bubble but peaked at $1.51 on 5-May-2015, and was already down to $0.52 by 30-Jun. It closed on Friday at $0.222, down 57.3% since the end of June. Meanwhile the umbrella bubble is staying up. By last night, CJ had only fallen 9.6% since 30-Jun-2015 and had a market value of HK$28.2bn, or 70.6x its net tangible assets of $399.6m.

In Chinglish, the CAID announcement says:

"Although the recent weakness in the stock market, the Board expects the performance of Significant Investments will still contribute positive return to the Group in the near future"

The Board does not give any reasons for that expectation. In our view, nobody could reasonably expect a bubble to grow larger or even to stay inflated, assuming that person did not know of any plan to make that happen. CJ accounted for 65.8% of the held-for-trading investments at 30-Jun-2015, and the other two holdings are down sharply, so it is hard to see how the overall portfolio returns "in the near future" could be expected to be positive. The Stock Exchange should require CAID to either justify that statement or withdraw it.

As readers will recall, CAID also holds 75m shares (7.82%) of Lerado Group (Holding) Co Ltd (Lerado, 1225) received at $0.60 each in exchange for a business sale. At the 30-Jun-2015 closing bid price of $0.59, these were worth HK$44.25m, or RMB 35.4m. So the 4 investments together amounted to RMB 514.6m, or 91.2% of CAID's investments. Lerado closed on Friday at $0.27, down 54.2% since the end of June.
Lerado next?

So now we have identified 2 shareholders of the umbrella bubble, namely CAID with 1.52% and China Environmental Energy Investment Ltd (CEEI, 0986) with 2.11%, out of the 25% float. As we noted in the article, CEEI also bought into the Suncorp bubble. Given the other identified connection between CAID and Lerado Group (Holding) Co Ltd (1225), we suspect that Lerado's massive market gains for the first half of 2015 also involve a shareholding in CJ, but so far, they're not saying. The SFC probably knows who held the stock at 27-Apr-2015, because it announced that 16 shareholders then held 96.1% of the float.

© Webb-site.com, 2015

184 : greatsoup38(830)@2015-11-04 01:26:23

laugh

185 : greatsoup38(830)@2015-11-15 10:13:01

buy rubbish

186 : greatsoup38(830)@2015-11-21 09:58:02

change rubbish plan

187 : greatsoup38(830)@2015-11-21 10:04:09

change sell rubbish plan

188 : greatsoup38(830)@2015-11-27 01:16:49

盈警

189 : greatsoup38(830)@2015-11-29 02:05:26

賣出O2O

190 : greatsoup38(830)@2015-11-29 02:11:49

虧損降40%，至1,900萬，空殼重債

191 : GS(14)@2016-02-04 14:22:56

賣紙公司

192 : greatsoup38(830)@2016-02-25 02:40:32

換Auditor

193 : GS(14)@2016-03-06 16:51:15

986賣8021

194 : greatsoup38(830)@2016-05-22 11:31:17

賣左個廢物業務

195 : greatsoup38(830)@2016-07-03 15:08:09

虧損降45%，至3,800萬，986持有745、802、1027、1063、1225、2324、8021、8193、8195

196 : greatsoup38(830)@2016-07-26 08:08:03

986買8021

197 : greatsoup38(830)@2016-07-26 08:08:03

986買8021

198 : Clark0713(1453)@2016-08-18 23:49:13

buy so much #8217

199 : GS(14)@2016-08-19 06:26:34

手中多左錢當然要花

200 : GS(14)@2016-08-19 17:16:49

986 SELL 1027 BUY 8217 SELL 8193

201 : 太平天下(1234)@2016-08-20 10:15:33

greatsoup在197樓提及
986 SELL 1027 BUY 8217 SELL 8193

明目張瞻，擺明同係。

202 : GS(14)@2016-08-20 23:00:47

好明顯啦呢樣

203 : greatsoup38(830)@2016-08-21 05:05:27

8120 holds 8195、1389、8193、986、8087、736、1027、8217

204 : GS(14)@2016-08-21 15:22:53

Webb 稱:
What it doesnt say: CEEI has breached Listing Rules by failing to obtain shareholders approval in advance of Major Transactions and by failing to announce them for 4 weeks. Each stock is the subject of SFC concentration warnings. We calculate that the purchase of Luen Wong shares is at a P/B of 321 and a P/E of 861. CEEI says the deal is fair and reasonable, a good investment opportunity and an attractive investment which will provide satisfactory return.

他們並沒有說: 中國環保能源(986)已經因並未預先取得股東許可進行重大交易，並無在4個星期前公佈觸犯了上市規則。每隻股證監會都已經發出股權集中公告。我們計算過聯旺股份的PB達到321倍，PE達861倍。中國環保能源指出交易是公允合理、良好投資機會、吸引的投資並會帶來合理回報。

205 : greatsoup38(830)@2016-09-13 00:36:22

10合1

206 : GS(14)@2016-09-28 04:16:16

986 賣 745

207 : greatsoup38(830)@2016-10-19 06:18:36

虧錢

208 : GS(14)@2016-10-20 11:21:10

986 sell 8193

209 : greatsoup38(830)@2016-11-22 01:25:46

盈喜

210 : GS(14)@2016-11-29 11:44:28

虧損降1成，至1,600萬，9.4億可變現資產，持有802、736、1027、1063、1225、2324、8021、8027、8087、8193、8195、8217

211 : GS(14)@2017-03-01 14:05:22

本公司董事（「董事」）會（「董事會」）提述年報附註21(b)，並藉此提供有關下列經修
訂段落所述之非上市可供出售投資及相關減值之額外資料：

212 : greatsoup38(830)@2017-06-28 17:20:43

虧損降3成，至2,400萬，6億可變現資產。

持有：205、243、630、736、745、802、913、1027、1055、1063、1225、1226、1327、1389、1647、2324、8019、8021、8027、8193、8195、8217、8321

213 : greatsoup38(830)@2017-07-03 02:30:41

Webb曰:
Proceeds were $18.66m, or $1.046 per share. CEEI bought the shares on 20-Jul-2016 at an average $6.977 per share. At the time, CEEI said that Luen Wong was "a good investment opportunity" and "an attractive investment which will provide satisfactory return". As we said at the time, the Price/Book ratio was 321 and the P/E was 861. How could any reasonable board make such statements?
套現金額只有1,866萬，或每股1.046元。中國環保能源在2016年7月20日以6.977元買入，當時他們稱聯旺是「好的投資機會」及「吸引的投資，並提足滿意回報」。但在那時，PB是321倍，PE是861倍，究竟一個合理的董事會會做這些嗎?

214 : GS(14)@2017-07-07 02:56:03

745持有1027、986

215 : GS(14)@2017-07-07 02:56:22

還有1327 債券

216 : GS(14)@2017-07-12 15:22:05

於二零一七年七月十一日，本公司與承兌票據持有人訂立償付契據，據此，本公
司已同意透過按發行價每股償付股份0.26港元向承兌票據持有人或其代名人發行
62,910,000股償付股份償付承兌票據之尚未償還金額及其所有尚未償還應計利息。
償付股份將根據一般授權予以發行。

217 : GS(14)@2017-10-09 05:03:11

CEEI is in what we call the "Enigma Network". When the investment in Luen Wong (8217) was announced, Webb-site called it a bubble stock trading on a P/B of 321 and a P/E of 861. CEEI said the deal was "fair and reasonable", "a good investment opportunity" and "an attractive investment which will provide satisfactory return". It subsequently crashed, of course. We pointed out the breach of the Listing Rules, for which the company and its directors have now been criticised by the Listing Committee. There was no criticism of the bullish statements made by the CEEI board about Luen Wong.

中國環保能源即是我們稱為「謎之網絡」(本網稱「康健系」、「粉哥系」)之成員。當對聯旺(8217)之投資正式公佈，Webb-site 稱之為泡沫股，並以321倍PB及861倍PE交易。中國環保能源稱這交易是「公平及合理」，「良好投資機會」，「吸引的投資並會提供合理回報」。後來突然崩潰，當然。我們指出他們違反上市規則，當然公司及董事需要給上市委員會譴責，但並無譴責由該董事會對聯旺這些看好言論。

218 : GS(14)@2017-10-12 01:57:08

人頭

219 : GS(14)@2017-10-31 23:12:20

以承付票據抵債

220 : GS(14)@2017-11-11 12:44:26

盈警

221 : GS(14)@2017-11-21 11:04:33

profit warning

222 : GS(14)@2017-12-03 17:14:00

虧損降2成，至1,300萬，輕債，持1027、802、8021、8193、8217、8321

223 : GS(14)@2018-05-10 04:45:32

配售事項
於二零一八年五月八日（交易時段後），本公司與配售代理訂立配售協議，據此，配
售代理已有條件同意按盡力基準促使不少於六(6)名承配人（本公司另行同意者除
外）認購本金總額最多為78,400,000港元之可換股債券，轉換價為0.35港元。
倘所有可換股債券按初步轉換價0.35港元獲悉數轉換，則224,000,000股轉換股份相
當於(i)本公司於本公告日期之已發行股本約42.74%；及(ii)本公司經悉數配發及發
行轉換股份擴大後之已發行股本約29.94%。
股東特別大會將予召開，以考慮及酌情批准（其中包括）授出特別授權、配售協議
及其項下擬進行之交易

用於做財仔

224 : GS(14)@2018-05-29 05:58:16

賣垃圾油田

225 : GS(14)@2018-06-17 13:35:00

本公司董事（「董事」）會（「董事會」）欣然宣佈，於二零一八年六月十五日（交易時段
後），本公司與兩名賣方（「賣方」）訂立無法律約束力之諒解備忘錄（「諒解備忘錄」），
據此，本公司將收購而賣方將出售一間於中華人民共和國成立之公司（「目標公司」）
之全部股權（「可能收購事項」），其主要從事買賣及鑲嵌黃金、白銀、白金、鑽石、翡
翠、玉器及手工藝以及提供珠寶設計。可能收購事項之代價釐定為不少於40,000,000
港元。
據董事經作出一切合理查詢後所深知、盡悉及確信，賣方為獨立於本公司及其關連人
士（定義見上市規則）且與彼等概無關連之第三方。

226 : GS(14)@2018-06-22 00:19:53

賣垃圾

227 : GS(14)@2018-07-03 06:26:49

虧，輕債

228 : GS(14)@2018-11-14 16:45:48

本集團截至二零一八年九月三十日止六個月之未經審核綜合管理賬目以及對現時可
得資料之初步評估，董事會預期，與本集團截至二零一七年九月三十日止六個月之虧
損相比，本集團將於本期間錄得虧損大幅減少超過90％。有關變動乃主要由於以下各
項之綜合影響所致：
(i) 得益於珠寶之設計、原設備製造及市場營銷分部（由「買賣黃金及鑽石」分部重
新定義），本集團之收益及毛利較去年同期分別增加近300%及100%；
(ii) 於截至二零一七年九月三十日止六個月錄得商譽及可供出售投資減值虧損約為
29,000,000港元及218,000,000港元，而於截至二零一八年九月三十日止六個月並
無作出有關減值；及
(iii) 於截至二零一八年九月三十日止六個月抵銷有關授予董事及僱員之購股權之開
支，以及以股份為基礎之付款開支約為7,200,000港元。

229 : GS(14)@2018-12-03 05:39:18

虧，4,800萬現金

PermaLink: https://articles.zkiz.com/?id=270112

新確科技(1063)專區(關係:0986、華匯)

1 : GS(14)@2010-10-17 18:27:25

http://realforum.zkiz.com/thread.php?tid=7138
新聞專區

2 : GS(14)@2010-10-17 18:27:45

iniesta:
關於這個公告我有點睇唔明
http://iis.aastocks.com/20100804/001040393-0.PDF

1. 配股的股數
3,555,555,555 @ 0.45
3,344,444,445 @ 0.5
是4合1之前或之後的股數?

2. 承配人是誰, 我找不到, 唔知是否睇漏

1. 是之後。
...本公司擬與若干配售代理訂立配售協議，據此，有關配售代理將按盡力基準配售最多6,900,000,000股新合併股份予獨立承配人...

2. 暫時是unknown，有時pdf 的search 功能會幫到你。

3 : GS(14)@2010-12-17 12:44:16

http://www.hkexnews.hk/listedco/ ... TN20101215238_C.pdf
呢單都搞唔成

4 : GS(14)@2011-01-01 17:36:38

4樓提及
是真的搞唔成, 還是暫時搞唔成呢?
^$%是一例子

645靚呢隻好多...1063是財困迫住賣

5 : 自動波人(1313)@2011-01-14 21:22:51

http://www.hkexnews.hk/listedco/ ... TN20110114407_C.pdf

被南興收購CB

6 : GS(14)@2011-01-14 23:03:52

6樓提及
http://www.hkexnews.hk/listedco/listconews/sehk/20110114/LTN20110114407_C.pdf

被南興收購CB

左手交右手

7 : i3640(1387)@2011-01-18 19:49:31

都系吾系好明,搞到咁大,成件買起,爲咗物呢?
http://www.hkexnews.hk/listedco/ ... TN20110114407_C.pdf

8 : GS(14)@2011-01-18 22:26:51

8樓提及
都系吾系好明,搞到咁大,成件買起,爲咗物呢?
http://www.hkexnews.hk/listedco/ ... TN20110114407_C.pdf

轉錢

9 : sunshine(3090)@2011-01-18 22:50:04

Brother Soup, both stocks big drop today. market did not like the action of 986 while for 1063, the market worry about the financial state of 986 and poly strategic and so fall below the $0.1 acquire price. Since 1063 really need money, the current price of 1063 seem attractive for speculation, any comment?

10 : GS(14)@2011-01-18 22:56:18

可以更賤D，算啦

11 : sunshine(3090)@2011-01-19 22:30:29

那個首創創投基金會唔會有爭奪抑或會發脾氣掟貨呢?

12 : GS(14)@2011-01-19 22:30:52

12樓提及
那個首創創投基金會唔會有爭奪抑或會發脾氣掟貨呢?

好朋友來的...

13 : sunshine(3090)@2011-01-19 22:42:07

咁到底1063和986為乜事下跌呢?

14 : GS(14)@2011-01-19 22:48:20

14樓提及
咁到底1063和986為乜事下跌呢?

向下炒囉...兩隻都是毒素甚重的

試下啦
[realblog]http://realblog.zkiz.com/greatsoup/21483[/realblog]

15 : sunshine(3090)@2011-01-19 22:57:08

港交所又唔要佢地解釋!!!!!!!!!

16 : GS(14)@2011-01-19 22:58:47

點解要解釋?

17 : sunshine(3090)@2011-01-19 23:05:18

成交大，股價狂插，大波動向下

18 : pars(2406)@2011-01-19 23:32:00

del

19 : GS(14)@2011-01-20 21:31:21

20樓提及
19樓提及
del

湯兄

1063和986為乜事今日上十大呢?

特別係南興今日的成交量和升幅
高位: 0.09 成交量:1.360B
看量午後好似有人想買間野？

做下成交引下人，睇少隻啦

20 : mimer(1366)@2011-01-20 21:43:38

下晝望升七成時呆左兩秒，跟住得啖笑

21 : GS(14)@2011-02-10 22:57:44

http://www.hkexnews.hk/listedco/ ... TN20110210593_C.pdf
終止收購新確科技有限公司之
所有已發行證券之可能自願現金要約

22 : kamfaiAthrun(1488)@2011-03-22 22:45:58

http://www.hkexnews.hk/listedco/ ... TN20110322672_C.pdf

截至二零一零年十二月三十一日止年度之末期業績公佈

23 : GS(14)@2011-03-24 00:59:14

24樓提及
http://www.hkexnews.hk/listedco/listconews/sehk/20110322/LTN20110322672_C.pdf

截至二零一零年十二月三十一日止年度之末期業績公佈

每年蝕3,000萬

應該好快有搞錢動作

24 : GS(14)@2011-05-24 22:45:31

http://www.hkexnews.hk/listedco/ ... TN20110524400_C.pdf
於二零一一年五月二十四日，買方（其為本公司之直接全資附屬公司）與賣方訂立收購協議，據此，買方將收購目標公司之10%已發行股本，總代價為32,000,000港元，當中的5,000,000港元將以現金支付，而27,000,000港元將以發行承付票的方式支付。

估值3.2億wor...

於本公佈日期，賣方之最終實益擁有人為吳國榮先生、李鋈發先生及劉基穎先生，彼等分別持有賣方已發行股本之40%、30%及30%。

李鋈發先生
http://www.pokoi.org.hk/tc/councilmember1_detail.aspx?id=355

中國雲錫礦業集團有限公司執行董事
比富達證券(香港)有限公司董事局主席
http://webb-site.com/dbpub/positions.asp?p=62602&hide=N
http://www.hkexnews.hk/listedco/ ... TN20101126163_C.pdf

劉基穎
http://webb-site.com/dbpub/positions.asp?p=10690&hide=N
http://www.hkexnews.hk/listedco/ ... TN20101208398_C.pdf
劉先生，39歲，在中華人民共和國電子業務之多項生產程序之經營管理方面有逾10年經驗。劉先生自二零零零年六月二十二日至二零零七年八月二十八日期間為盛源控股有限公司（股票代號：851）之執行董事，該公司於香港聯合交易所有限公司（「聯交所」）主板上市。劉先生曾積極參與為該等公司制定投資策略並負責監管多個投資項目之管理運作。

25 : GS(14)@2011-05-24 22:46:40

截至本公佈日期，目標公司、Smart Sign Limited及Well Effort Limited均為投資控股公司，而中國公司之主要業務為於中國生產果糖。截至二零一零年十二月三十一日，中國公司之未經審核資產淨值約為人民幣75,500,000元（相當於約88,800,000港元）。

中國公司截至二零零九年十二月三十一日止年度之稅前及稅後虧損淨額均為人民幣6,300,000元（相當於約7,400,000港元）。中國公司截至二零一零年十二月三十一日止年度之稅前及稅後純利分別為人民幣12,100,000元（相當於約14,200,000港元）及人民幣11,200,000元（相當於約13,180,000港元）。

「中國公司」 指湖南潤濤生物科技有限公司，於中國註冊成立之外商獨資企業，由Well Effort Limited全資擁有

26 : GS(14)@2011-05-24 22:50:45

原來是破產野，真是屈公司屈到底
http://59.51.9.107:82/gate/big5/ ... -b82424d78315.shtml
依託節會廣招商。重點利用節會平臺，全面展示宣傳耒陽形象，大力引進戰略投資者，促進優勢資本、戰略資源、生產要素與耒陽優勢產業和資源結合，推進產業結構調整，加快新型工業化進程，大力發展現代農業和現代服務業。今年5月4日—7日，耒陽市參加湖南省政府在廣州召開的“粵洽周”招商引資活動，會上成功簽約潤濤生物與香港麗盛集團富域資本投資有限公司合作開發抗病毒生物魚粉項目。7月24日至26日，參加了上海世博會湖南經貿活動月活動，會上實現項目簽約8個，引進資金16億元，簽約項目與引進資金均居衡陽市各縣市區之首。

創新招商方式，摸索資本運作模式。進一步創新招商方式，豐富招商內涵，在融資和引智方面做文章。如湘南農業綜合服務有限公司，通過市擔保公司擔保，引進英國凱爾森投資公司注入6060萬元人民幣成立利捷藥業中藥材生產基地，已完成選址、環評、測量工作，發展中藥材種植面積5000畝，建成投產後年生產能力可達2萬噸，出口創匯3000萬元。潤濤生物科技項目，因資金短缺導致企業已停產，通過招商聯絡處老鄉的牽線搭橋，引進香港富域資本有限公司股本投資4000萬元，使奄奄一息的潤濤生物科技又煥發了生機和活力，現擬建設年產4萬噸抗病毒生物魚粉生產線，佔地50畝，建成投產後產值可達6億元，年創利稅2500萬元，將成為華南地區最大的糖醇產品生產企業。

27 : GS(14)@2011-05-24 22:50:59

富域資本
http://www.sfc.hk/sfcprd/eng/pr/ ... =ARW775&applNo=0001
http://www.donvex.com/team_cn.htm

28 : sunshine(3090)@2011-05-24 22:51:36

換咗舊朱老板不久便來单小收購，現價似乎有得唸 smiley

29 : GS(14)@2011-05-24 22:52:26

30樓提及
換咗舊朱老板不久便來单小收購，現價似乎有得唸

偷錢多

30 : sunshine(3090)@2011-05-24 23:00:37

梗要作啲故事來包裝下 smiley

31 : GS(14)@2011-05-24 23:22:36

32樓提及
梗要作啲故事來包裝下

人地投四千萬，現在賣一成就拿番三千幾個，是咪爽

32 : GS(14)@2011-06-14 22:54:29

http://www.hkexnews.hk/listedco/ ... TN20110614480_C.pdf
於二零一一年六月十四日交易時段後，本公司與配售代理訂立配售協議，據此，配售代理已同意按竭盡所能基準，代表本公司按每股配售股份0.022港元之價格向不少於六名獨立承配人配售最多653,000,000股新股份。

33 : GS(14)@2011-06-15 22:51:51

http://www.hkexnews.hk/listedco/ ... TN20110615503_C.pdf
10合1

34 : GS(14)@2011-07-08 23:13:22

http://www.hkexnews.hk/listedco/ ... TN20110708547_C.pdf
華匯又攻下一隻
1. 每手由4千改萬2
2. 30合1
3. 合股後，又改成2萬股一手(即是舊股60萬股)
4. 1供[email protected](合股前0.003333)

35 : 估民(6429)@2011-07-08 23:25:39

10合1取消？又先配後供

36 : Voka(11117)@2011-07-09 11:04:33

自從767後, 都唔覺邊隻大比例供股既股票可以大幅炒上, 頂多只係好似993咁, 升一兩成就倒跌嘔突,睇黎呢隻老千1063都係升少少呃人入局然後向下派.

37 : GS(14)@2011-07-09 11:21:03

是，10合1取消

273、767、986、993等等等等都是全部都是同一堆人

38 : ballball506(12283)@2011-07-09 20:55:40

想請教湯兄點解好多千股都要係供股前先配股呢? 係因為好缺水籌得幾多得幾多, 定係想集中股權, 定還是想做低股價 993 1063 正就是 THX

39 : 估民(6429)@2011-07-10 14:46:15

36樓提及
http://www.hkexnews.hk/listedco/listconews/sehk/20110708/LTN20110708547_C.pdf
華匯又攻下一隻
1. 每手由4千改萬2
2. 30合1
3. 合股後，又改成2萬股一手(即是舊股60萬股)
4. 1供[email protected](合股前0.003333)

1.係咪改左後唔夠一手果d股唔會比番你，會自動轉番入公司？
2.經2、3，好多貨已經歸晒邊？
3.如果歸晒邊，點解仲要供到咁大？方便之後向下炒？

40 : GS(14)@2011-07-10 15:15:42

1. 唔係，合股前轉手數前你持股數照舊，但是如果你持的手數不是3的倍數，有可能會變碎股。
2. 又唔算歸邊，只是玩野搞到D股難流通，方便炒，貨其實好散ga
3. 他們只是利用賤招，控制短時期供求，供大只為控制貨源，取得控制權，方便日後炒作，向下炒也方便。

錢之後利用之前我講的原理轉出，使供股成本只是一些必要行政費用

41 : GS(14)@2011-07-19 23:47:57

http://www.hkexnews.hk/listedco/ ... TN20110719125_C.pdf
董事會亦謹確認，本公司目前正就可能收購一目標集團而進行早期磋商，該目標
集團主要於中華人民共和國從事派對商品及節慶產品以及季節裝飾用品之製造、
銷售及分銷，若該項可能進行之收購成事，則可能構成一項須予公佈之交易，

42 : 估民(6429)@2011-07-19 23:56:29

43樓提及
http://www.hkexnews.hk/listedco/listconews/sehk/20110719/LTN20110719125_C.pdf
董事會亦謹確認，本公司目前正就可能收購一目標集團而進行早期磋商，該目標
集團主要於中華人民共和國從事派對商品及節慶產品以及季節裝飾用品之製造、
銷售及分銷，若該項可能進行之收購成事，則可能構成一項須予公佈之交易，

供股d錢要黎收購？

43 : Hierro(1191)@2011-07-20 01:48:44

43樓提及
http://www.hkexnews.hk/listedco/listconews/sehk/20110719/LTN20110719125_C.pdf
董事會亦謹確認，本公司目前正就可能收購一目標集團而進行早期磋商，該目標
集團主要於中華人民共和國從事派對商品及節慶產品以及季節裝飾用品之製造、
銷售及分銷，若該項可能進行之收購成事，則可能構成一項須予公佈之交易，

周老師的至理名言：「供股永遠伴隨收購…」

44 : GS(14)@2011-07-28 21:44:54

http://www.hkexnews.hk/listedco/ ... TN20110728631_C.pdf
唉，又來了...

目標公司及其附屬公司之資料
目標公司為一間於英屬處女群島註冊成立之有限責任公司，而目標集團之主要業務為銷售、分銷及製造產品（例如派對用品、䇴上即用即棄物品、絨紙製造之派對帽、乳膠製造之面具及節日裝飾等）。目標集團之主要生產廠房位於中國東莞。

45 : GS(14)@2011-08-24 22:39:44

http://www.hkexnews.hk/listedco/ ... TN20110823534_C.pdf
蝕錢爛殼

46 : GS(14)@2011-08-24 22:40:06

2324是大股東

47 : GS(14)@2011-08-24 22:40:42

本集團最近宣佈擬收購位於中國的一間果糖廠房少數股權及一間節慶產品廠房。
目前正對該兩個項目進行盡職審查，並將於簽立任何具法律約束力協議後作出適
當披露。此外，為確保本集團之手頭現金得到最理想的運用，本集團於二零一一年
第二季開始作證券投資。董事會將繼續發掘具吸引力之投資機遇，以壯大並提升
本集團之收入基礎。

已華匯ed

48 : CHAUCHAU(1254)@2011-09-27 19:41:15

http://www.hkexnews.hk/listedco/ ... TN20110927504_C.pdf
終止建議供股
董事會謹此宣佈，於二零一一年九月二十七日（交易時段後），本公司接獲包銷
商通知，有鑑於環球經濟及金融市場之不利狀況，加上香港股票市場波動，包銷
協議已根據其條款終止。有鑑於此，於二零一一年九月二十七日，本公司與包銷
商確認，根據包銷協議，包銷商於包銷協議項下之所有責任均已終止及終結。因
此，建議供股將不會繼續進行，而建議供股將會失效。

49 : CHAUCHAU(1254)@2011-09-27 19:48:55

市況差,連莊生都唔玩

50 : fineram(806)@2011-09-27 19:53:45

咁咪通殺?

除左權, 咁rights 果份係咪唔會派返比除權前股東?

預左有cd-rom 會問, 我幫口.

51 : CHAUCHAU(1254)@2011-09-27 20:05:11

股份合併及第二次更改每手買賣單位將會繼續有效，並將會根據該通函內所載
之時間表繼續進行。

52 : fineram(806)@2011-09-27 20:23:20

按除權方式買賣合併股份, 無再繼續進行

53 : GS(14)@2011-09-27 20:35:05

51樓提及
市況差,連莊生都唔玩

信我，唔關呢個事，他在試緊底線，那些股他想認一定過到

54 : GS(14)@2011-09-27 20:36:01

咁咪通殺?

除左權, 咁rights 果份係咪唔會派返比除權前股東?

預左有cd-rom 會問, 我幫口.

唔會啦，唔供股就無權

55 : sunshine(3090)@2011-09-27 23:22:01

The stock before ex-right is 0.3 and the theoretical ex right price is 0.10x something and the stock had already fryed up to 0.205 level. the current level do not differ much. However, the jong will obviously do other tricks to get the money and the control of the stock smiley

56 : greatsoup38(830)@2011-12-24 18:38:20

http://www.hkexnews.hk/listedco/ ... TN20111223433_C.pdf
自己玩晒批股

於二零一一年十二月二十三日（交易時段後），本公司與配售代理訂立配售協議，
據此，本公司有條件同意透過配售代理以盡力基準按每股配售股份0.20港元之
價格，向不少於六名獨立承配人配售最多26,000,000股配售股份。配售股份相當
於本公司於本公佈日期之現有已發行股本130,631,557股股份之19.90%，並相當
於本公司經配售事項擴大之已發行股本約16.60%。配售事項項下之配售股份之
總面值將為78,000港元。

57 : GS(14)@2012-02-21 23:40:51

http://www.hkexnews.hk/listedco/ ... TN20120221273_C.pdf
旺市又作怪

董事會亦謹此確認，除本公司目前正與一配售代理就一項潛在集資活動（若成事則可能構成一項須予公佈交易）進行初步討論外，並無有關擬議集資交易之任何磋商或協議須根據香港聯合交易所有限公司證券上市規則（「上市規則」）第13.23條予以披露，董事會亦不知悉根據上市規則第13.09條施加之全面責任須予披露且會或可能對股價構成影響之任何事宜。

58 : GS(14)@2012-03-22 00:15:13

http://www.hkexnews.hk/listedco/ ... TN20120321886_C.pdf
此外，為確保本集團之手頭現金得到最理想的運用，本集團於二零一一年第二季
開始作證券投資。為了在可接受的風險水平下達致合理的資本增值，本集團主要
投資的投資組合是由香港上市公司之獲批准證券所組成。於回顧年度，雖然二零
一一年內市況波動不利，本公司錄得58,000港元之輕微虧損。董事會將繼續發掘
新商機，以實現本集團現有業務之多元化，並冀為全體股東創造價值。

爛殼

59 : 自動波人(1313)@2012-07-13 22:42:13

配股了....當然是配到盡

http://www.hkexnews.hk/listedco/ ... TN20120713592_C.pdf

於二零一二年七月十三日（交易時段後），本公司與配售代理訂立配售協議，據
此，本公司有條件同意透過配售代理以盡力基準按每股配售股份0.179港元之價
格，向不少於六名獨立承配人配售最多31,320,000股配售股份。配售股份相當於
本公司於本公佈日期之現有已發行股本156,631,557股股份之約20%，並相當於
本公司經配售事項擴大之已發行股本約16.67%。配售事項項下之配售股份之總
面值將為93,960港元。
每股配售股份之配售價0.179港元較(i)股份於二零一二年七月十三日（即配售協
議日期）在聯交所所報之收市價每股0.218港元折讓約17.89%；及(ii)股份於直至
及包括二零一二年七月十二日連續五個交易日在聯交所所報之平均收市價每股0.21
港元折讓約14.76%。
配售事項之所得款項總額最多將約為5,610,000港元。本公司計劃將配售事項之
所得款項淨額最多約5,120,000港元用作本集團之一般營運資金。

60 : greatsoup38(830)@2012-07-14 14:10:13

向下炒

61 : 自動波人(1313)@2012-07-14 14:41:35

炒到咁上下應該有供股出現

62 : greatsoup38(830)@2012-07-14 14:42:25

63樓提及
炒到咁上下應該有供股出現

因為呢d新股可以投票

63 : 自動波人(1313)@2012-07-14 15:00:39

64樓提及
63樓提及
炒到咁上下應該有供股出現

因為呢d新股可以投票

一來吧,二來又可以拿多一點貨去供
隻野盤細,雖然易炒起,但無乜肉食

供一供佢拿點平貨,貨又多左,何樂而不為!

64 : greatsoup38(830)@2012-07-14 15:04:00

65樓提及
64樓提及
63樓提及
炒到咁上下應該有供股出現

因為呢d新股可以投票

一來吧,二來又可以拿多一點貨去供
隻野盤細,雖然易炒起,但無乜肉食
供一供佢拿點平貨,貨又多左,何樂而不為!

錢他會買垃圾拿番

65 : 自動波人(1313)@2012-07-14 15:06:42

黎黎去去都係果D招數
無希望,無失望

66 : greatsoup38(830)@2012-07-14 15:12:14

so boring I am

67 : 自動波人(1313)@2012-07-14 15:13:17

呢D股你都唔會玩....

68 : GS(14)@2012-07-14 15:28:28

我是不玩這些股...但是不代表我不留意

69 : greatsoup38(830)@2012-07-23 18:00:47

http://www.hkexnews.hk/listedco/ ... TN20120723443_C.pdf
買堆D垃圾
董事會欣然宣佈，於二零一二年七月二十三日（交易時段結束後），本公司與賣方
訂立諒解備忘錄，據此，賣方表示有意於組建及重組完成時出售而本公司則表示
有意收購項目公司之69.9%股本權益。
諒解備忘錄之主要條款
賣方：中國汽車投資管理有限公司，一間根據香港法律註冊成立之公司
買方：本公司

賣方確認，其及其最終實益擁有人均為與本公司及其關連人士（定義見上市規則）
概無關連之獨立人士。
盡職審查
本公司將就建議投資進行盡職審查，其範圍涵蓋項目公司及其附屬公司之財務、
法律及稅務情況，包括但不限於估值報告（如需要）。賣方承諾在本公司可能合理
要求時，向本公司提供其所擁有有關建議投資之一切所需資料，並在本公司及其
專業顧問可能要求時，提供一切合理協助及途徑。
正式協議
預期於本公司接納就項目公司及其他相關公司所作盡職審查後，有關訂約方將就
建議投資訂立正式協議及任何其他文件（如有），以與賣方落實買賣項目公司股份
之具體條款。正式協議與任何其他交易文件（如有）須包括以下主要條款及條件。
收購價為人民幣100,000,000元（在本公司與賣方作進一步磋商後可予調整），並參
考項目公司（於組建及重組完成時）之資產淨值之兩倍。建議投資之收購價將以現
金支付。
本公司向賣方承諾，其將於諒解備忘錄日期起計三個月內展開集資計劃（視乎能
否安排配售代理╱包銷商）以籌集資金支付收購價及用作項目公司之營運資金。
約束效力
本公司與賣方明白並同意，諒解備忘錄並無法律約束力，亦不得強制執行，且不
構成要約、反要約、接納及╱或承諾訂立任何交易，而任何具約束力承諾須待正
式協議簽立及交付後方可作實。
...
項目公司之資料
為利便本公司收購項目公司之股本權益，賣方將進行組建及重組以令到賣方將於
組建及重組（統稱為「組建及重組」）完成時直接及間接持有項目公司之合共69.9%
股本權益。
項目公司為一間將於中國註冊成立之有限公司，其唯一資產為一間位於中國浙江
省金華市之一個著名汽車品牌4s店。於組建及重組完成後，該4s店將向一個著名
汽車品牌取得在中國浙江省金華市之4s代理權。

「項目公司」指一間將於中國註冊成立之有限公司而其唯一資產將
為一間位於中國浙江省金華市之一個著名汽車品牌
4s店

70 : 自動波人(1313)@2012-08-02 18:05:09

http://www.hkexnews.hk/listedco/ ... TN20120802618_C.pdf

李浩堯先生，34歲，本公司之獨立非執行董事，於審計、會計及財務管理方面擁
有豐富經驗。彼現時為李歐會計師行之合夥人。李先生亦為香港聯合交易所上市
公司東吳水泥國際有限公司（聯交所股份代號：695)、佳訊（控股）有限公司（聯交
所股份代號：30)及動感集團控股有限公司（聯交所股份代號：1096)之獨立非執行
董事。李先生曾擔任一跨國高檔品牌集團之助理財務總監，亦曾於四大國際會計
師行之一任職。李先生為英國特許公認會計師公會資深會員、香港會計師公會執
業會員、註冊稅務師及香港稅務學會會員、註冊內部審計師及國際內部審計師公
會會員、註冊信息系統審計師及國際信息系統審計協會會員。李先生持有華威大
學理學學士學位，並於北京清華大學獲得中國法學學士學位。

695,新鮮滾熱辣

71 : greatsoup38(830)@2012-08-02 22:22:20

都是蛇鼠一窩，下次入tag

72 : GS(14)@2012-08-22 20:19:48

http://www.hkexnews.hk/listedco/ ... TN20120822552_C.pdf
虧損減少40%，至1,700萬，爛殼

73 : GS(14)@2012-09-18 00:59:52

http://www.hkexnews.hk/listedco/ ... TN20120917249_C.pdf
謹此提述本公司日期為二零一一年五月二十四日之公佈（「該公佈」），內容有關建
議收購事項之收購協議。除文義另有所指外，本公佈所用詞彙與該公佈所界定者
具有相同涵義。
董事會謹此宣佈，於二零一二年九月十七日交易時間後，本公司與賣方訂立協議
（「終止協議」）以即時終止收購協議。根據終止協議，賣方須於簽訂終止協議後向
本公司退回根據收購協議獲支付之5,000,000港元按金，其後，訂約各方須絕對及不
可撤回地解除另一方在收購協議項下之一切責任及義務，而訂約各方概不得向另
一方提出任何申索。

74 : greatsoup38(830)@2012-11-08 00:44:37

http://www.hkexnews.hk/listedco/ ... TN20121107479_C.pdf
買垃圾

收購事項
於二零一二年十一月七日，買方與該等賣方訂立買賣協議，據此，買方有條件
同意向該等賣方購買而該等賣方有條件同意向買方出售銷售股份（即目標公司
之全部已發行股本），代價為40,000,000港元並將以現金加上發行承付票據之方
式支付。根據買賣協議之條款及條件並在其規限下，目標公司須於完成後成為
本公司之全資附屬公司。
...

75 : greatsoup38(830)@2012-11-08 00:45:39

訂約各方
買方： Excel Gainer Limited（其為本公司之全資附屬公司）
該等賣方：馬彬輝先生、葉惠珊女士及黃文雅女士
目標公司由馬彬輝先生、葉惠珊女士及黃文雅女士分別擁有
76%、15%及9%權益。就董事作出一切合理查詢後所知、所
悉及所信以及據董事所知悉，該等賣方為獨立第三方。
所收購之資產
銷售股份，即目標公司之全部已發行股本。
目標集團之主要業務為處理來自發達國家的二手電腦相關組件（譬如集成電路芯片、
硬盤和主機板）並轉售往發展中國家。
代價
買賣銷售股份之代價合共為40,000,000港元。代價將由本公司按以下方式支付：其
中3,000,000港元屬可獲退還按金，已於買賣協議日期以現金支付，並將於完成時
以現金支付15,000,000港元及以發行票息為2%之承付票據（年期為完成日期開始直
至由本公司暫管之承付票據獲解除之日期為止）支付22,000,000港元。承付票據將
由本公司暫管，直至目標集團截至二零一三年十二月三十一日止財政年度之經審
...
核報告已呈交予買方為止並須受到下一節「溢利保證」所述之調整機制所規限。倘
若買賣協議因任何原因而被終止，則該等賣方須於終止日期後的三個營業日內將
按金（不計利息）退還予買方。
代價由買方與該等賣方按公平原則商定，當中已參考：
(i) 該等賣方就截至二零一三年十二月三十一日止年度提供4,000,000港元溢利保
證；
(ii) 三間電腦相關貿易公司之平均市盈率約為20倍，而選出該等公司之準則為
(a)公司從事電腦相關的軟硬件貿易行業；(b)目前於聯交所上市；及(c)錄得
盈利並具備市盈率，而屬異常的最高數據已被剔除。董事會明白目前並無可
作直接比較的聯交所上市公司，惟因收購事項所代表的10倍市盈率遠低於上
述的平均20倍市盈率，董事會認為代價已給予足夠折讓以反映目標公司之規
模較小以及品牌認知度較低的情況；
(iii) 代價之付款時間表；及
(iv) 下文所述之進行收購事項之理由及得益。
部份代價將以現金支付，而有關現金將由內部資源及╱或本公司可能進行之潛在
集資活動的所得款項而撥付，譬如配售新股份、供股、公開發售、貸款或本公司
可獲提供之其他信貸融資，或於董事會按當時市況認為合適並且符合本公司及股
東之最佳利益時同時運用上述任何項目。
董事認為收購事項之代價為公平合理，而支付代價之條款符合本公司及股東之整
體利益。
溢利保證
該等賣方於買賣協議中共同及各別地向買方保證及擔保目標公司截至二零一三年
十二月三十一日止財政年度之經審核綜合除稅後純利將不少於4,000,000港元（「保
證溢利」）。
倘若未能達到保證溢利，該等賣方須根據以下算式向買方支付X港元之賠償款項：
X港元 = (4,000,000港元 – 實際錄得之溢利) x 10
..
有關本集團之資料
本公司乃一間投資控股公司，亦提供企業管理服務。其附屬公司之主要業務為提
供電話及相關產品之裝配服務，以及根據摩托羅拉之特許授權為其品牌從事家居
電話產品之銷售及市場推廣業務。
有關目標集團之資料
目標公司為一間投資控股公司並由馬彬輝先生、葉惠珊女士及黃文雅女士分別擁
有76%、15%及9%權益。
目標集團之主要業務為處理來自發達國家的二手電腦相關組件（譬如集成電路芯片、
硬盤和主機板）並轉售往發展中國家。
有關目標公司之財務資料
目標公司之唯一營運附屬公司於二零一一年十二月三十一日之經審核負債淨額為
618,550港元。目標公司為一間投資控股公司而並無重要資產。並無就目標集團編
製綜合賬目。
於截至二零一零年及二零一一年十二月三十一日止兩個年度各年，目標公司之唯
一營運附屬公司之除稅及非經常項目前後之經審核虧損淨額載列如下：
截至十二月三十一日止年度
二零一一年二零一零年
除稅及非經常項目前之虧損淨額 84,271港元 330,809港元
除稅及非經常項目後之虧損淨額 84,271港元 330,809港元
於完成後，目標公司將成為本公司之全資附屬公司而目標集團之財務資料將會綜
合計入本集團之賬目。
進行收購事項之理由
從本公司以往之財務報表可見，本集團一直身處充滿挑戰的營商環境並持續錄得
虧損。本集團計劃在精簡現有業務之同時，亦透過收購事項進軍電腦組件貿易行
業，藉此實行其長線的業務多元化策略。透過收購事項進軍電腦組件貿易行業而
實現的業務多元化，預期可為本集團帶來正面貢獻。倘若開拓電腦組件貿易業務
為本集團帶來顯著增長及可觀回報，本公司在未來或會考慮調撥更多資源予此業
務分部。
基於以下主要原因，本集團預期可因收購事項而獲益：
(a) 收購事項將讓本公司藉著進軍具潛力的電腦組件貿易行業而推行其長線業務
多元化策略，從而進一步提升其收益來源以及為股東帶來正面回報；
(b) 該等賣方已作出溢利保證並將能夠為本集團帶來正面貢獻；
(c) 目標集團之目標市場是中東、俄羅斯聯邦及印度等發展中國家，而本集團亦
因為旗下的電話產品貿易業務而熟悉該等國家並對其市場潛力充滿信心；
(d) 由於目標集團之其中一項新貿易分部是將發達國家的二手電話轉售到發展中
國家，本集團預期可借助目標集團之經驗，開拓及善用目標集團之銷售網絡
以加快本集團分銷電話庫存的步伐；及
(e) 由於以營業額而言目標集團目前的規模尚小，本集團預期，本集團所具備的
香港上市公司之雄厚背景可提升目標集團在業內的聲譽及信譽，目標集團可
憑此優勢迅速拓展業務。
董事認為收購事項是本集團推行其長線業務多元化策略的良機。

76 : greatsoup38(830)@2013-04-06 22:34:51

http://www.hkexnews.hk/listedco/ ... TN20130320681_C.pdf
1063
盈利降55%，至2,000萬，負資產殼

77 : GS(14)@2013-08-24 00:36:47

1063
虧損降3成，至1,100萬，負資產爛殼

78 : GS(14)@2013-09-04 09:30:45

placing 110m convertible notes, converting price 0.1

79 : Clark0713(1453)@2013-10-24 17:14:33

短暫停牌

???????

80 : greatsoup38(830)@2013-10-24 22:25:04

Clark0713在81樓提及
短暫停牌

???????

81 : iniesta(1400)@2013-10-25 21:32:28

痴9線
食左偉哥

82 : greatsoup38(830)@2013-10-26 23:25:52

iniesta在83樓提及
痴9線
食左偉哥

但本質垃圾仍然不變

83 : Clark0713(1453)@2013-11-21 23:37:02

建議拆細股份及更改每手買賣單位

1拆10

84 : LHC(34894)@2013-11-21 23:46:09

準備散貨，有沒有人幫手接火棒呀 smiley

85 : greatsoup38(830)@2013-12-16 23:35:30

1046 變成他股東

86 : lemonwongwong(33038)@2014-01-24 12:44:58

大無人估到, 1046之前入左745, 而家又入1063做股東.....幾樣野加埋, 有無咩關連?

87 : 投機仁(34693)@2014-01-24 12:49:58

都係層層疊既關係je
唔洗lock 住咁多$ 就控左好幾間公司

88 : lemonwongwong(33038)@2014-01-24 12:55:54

隻野車散貨..

89 : Banana Republic(1499)@2014-01-24 20:57:50

系咪1046个老板离婚，比人分左好多钱，而家5行欠水，所以发狂炒股CAP水呀？

90 : greatsoup38(830)@2014-01-25 13:07:23

Banana Republic在91樓提及
系咪1046个老板离婚，比人分左好多钱，而家5行欠水，所以发狂炒股CAP水呀？

他賣左殼畀人玩

91 : lemonwongwong(33038)@2014-02-10 17:09:36

greatsoup38在87樓提及
1046 變成他股東

但係1046佔佢好少股咋喎

92 : GS(14)@2014-02-10 23:27:18

lemonwongwong在93樓提及
greatsoup38在87樓提及
1046 變成他股東

但係1046佔佢好少股咋喎

但都有少少關

93 : lemonwongwong(33038)@2014-02-27 13:13:13

湯兄, 1046賣左殼心? 咁尼個新主會否會連埋745, 1063一齊做野? 因為之前745, 1063都用超平的價批股比1046..

94 : greatsoup38(830)@2014-02-27 23:34:16

lemonwongwong在95樓提及
湯兄, 1046賣左殼心? 咁尼個新主會否會連埋745, 1063一齊做野? 因為之前745, 1063都用超平的價批股比1046..

1046賣左，新主已經一齊搞啦

95 : lemonwongwong(33038)@2014-02-27 23:57:57

湯兄，尼幾間野以你經驗會有什麼故事攪出來？

96 : lemonwongwong(33038)@2014-02-27 23:58:30

湯兄，尼幾間野以你經驗會有什麼故事攪出來？

97 : greatsoup38(830)@2014-02-28 00:12:27

lemonwongwong在98樓提及
湯兄，尼幾間野以你經驗會有什麼故事攪出來？

又搞d唔知乜鬼科技野囉

98 : GS(14)@2014-03-15 16:47:13

盈喜

99 : 2hit6(46398)@2014-03-22 11:53:25

brada Tong, 745 down 30% y'day! do u think 1063 will follow to fall crazy soon?

100 : greatsoup38(830)@2014-03-22 19:20:21

應該都不會遠了

101 : GS(14)@2014-07-29 00:24:19

1063

102 : kkfun(40420)@2014-08-05 16:32:46

點解隻野可以有幾十億市值...

103 : greatsoup38(830)@2014-08-05 23:06:56

kkfun在102樓提及
點解隻野可以有幾十億市值...

多謝國內朋友

104 : lemonwongwong(33038)@2014-08-06 10:08:16

greatsoup38在103樓提及
kkfun在102樓提及
點解隻野可以有幾十億市值...

多謝國內朋友

為何是多謝國內朋友?

105 : GS(14)@2014-09-05 00:24:19

虧損增14%，至800萬負資產重債殼

106 : GS(14)@2015-04-19 01:29:24

986買1063股權

107 : GS(14)@2015-05-22 16:58:30

銀聯

108 : greatsoup38(830)@2015-08-21 02:40:57

虧增1.8倍，至2,800萬，4.8億現金

109 : greatsoup38(830)@2015-09-13 22:06:14

笑

110 : 陳啦毛(55129)@2015-10-09 15:31:24

請教一下，1063呢隻股票都係屬於華匯班人旗下嗎？有人講呢隻的莊家係孫粗洪，但我又查唔到1063和孫生有咩關係

111 : GS(14)@2015-10-10 00:44:05

陳啦毛在110樓提及
請教一下，1063呢隻股票都係屬於華匯班人旗下嗎？有人講呢隻的莊家係孫粗洪，但我又查唔到1063和孫生有咩關係

是，華匯

孫先生同華匯都是一派

112 : 陳啦毛(55129)@2015-10-13 13:31:46

greatsoup在111樓提及

是，華匯

孫先生同華匯都是一派

請問有咩線索表明華匯同孫先生係一派呢？

113 : GS(14)@2015-10-14 00:46:59

配售代理共通，請看1141

114 : GS(14)@2015-10-19 02:39:58

http://webb-site.com/articles/CAID.asp
CAID (0048) gains from umbrella bubble
10th October 2015

In our article Bubbles and Troubles in Hong Kong (24-Sep-2015) we noted that there were huge unrealised investment gains in the interim results of China Automotive Interior Decoration Holdings Ltd (CAID, 0048) for the 6 months to 30-Jun-2015 and that it had failed to disclose what these investments were, claiming:

"At 30 June 2015, there was no significant investment held by the Group"

Webb-site filed complaints with SEHK (under the Listing Rules) and the SFC (under the Securities and Futures Ordinance, that this was a false and misleading statement). Last night, CAID made an announcement, noting that "errors have been found" in this binary statement. So it was false. CAID now discloses 3 investments. The largest by far is about 227.3m shares (1.52%) of umbrella-maker China Jicheng Holdings Ltd (CJ, 1027). As we noted in the article, this stock is in a huge bubble. CAID says these shares were purchased for about RMB 7.9m (HK$9.9m) which implies that they were allocated in the IPO at HK$0.044 (split-adjusted).

At 30-Jun-2015, CAID's shares in CJ were valued at RMB 371.2m, or 48.7% of CAID's net tangible assets of RMB 761.9m. The other 2 holdings disclosed yesterday were 0.7% of Suncorp Technologies Ltd (Suncorp, 1063, also mentioned in our article) and 0.8% of China Properties Investment Holdings Ltd (CPI, 0736). CPI was also in a bubble and has dropped 89.5% from $2.37 to $0.25 since 30-Jun-2015. Suncorp was a bubble but peaked at $1.51 on 5-May-2015, and was already down to $0.52 by 30-Jun. It closed on Friday at $0.222, down 57.3% since the end of June. Meanwhile the umbrella bubble is staying up. By last night, CJ had only fallen 9.6% since 30-Jun-2015 and had a market value of HK$28.2bn, or 70.6x its net tangible assets of $399.6m.

In Chinglish, the CAID announcement says:

"Although the recent weakness in the stock market, the Board expects the performance of Significant Investments will still contribute positive return to the Group in the near future"

The Board does not give any reasons for that expectation. In our view, nobody could reasonably expect a bubble to grow larger or even to stay inflated, assuming that person did not know of any plan to make that happen. CJ accounted for 65.8% of the held-for-trading investments at 30-Jun-2015, and the other two holdings are down sharply, so it is hard to see how the overall portfolio returns "in the near future" could be expected to be positive. The Stock Exchange should require CAID to either justify that statement or withdraw it.

As readers will recall, CAID also holds 75m shares (7.82%) of Lerado Group (Holding) Co Ltd (Lerado, 1225) received at $0.60 each in exchange for a business sale. At the 30-Jun-2015 closing bid price of $0.59, these were worth HK$44.25m, or RMB 35.4m. So the 4 investments together amounted to RMB 514.6m, or 91.2% of CAID's investments. Lerado closed on Friday at $0.27, down 54.2% since the end of June.
Lerado next?

So now we have identified 2 shareholders of the umbrella bubble, namely CAID with 1.52% and China Environmental Energy Investment Ltd (CEEI, 0986) with 2.11%, out of the 25% float. As we noted in the article, CEEI also bought into the Suncorp bubble. Given the other identified connection between CAID and Lerado Group (Holding) Co Ltd (1225), we suspect that Lerado's massive market gains for the first half of 2015 also involve a shareholding in CJ, but so far, they're not saying. The SFC probably knows who held the stock at 27-Apr-2015, because it announced that 16 shareholders then held 96.1% of the float.

© Webb-site.com, 2015

115 : greatsoup38(830)@2016-03-26 03:39:54

8179虧損增277%，至3,400萬，3億可變現資產，持有8195、8193、1389、736、8087、1027、8109、1063，已成康健系

116 : GS(14)@2016-03-28 22:46:57

虧損增180%，至5,700萬，5.31億現金

117 : greatsoup38(830)@2016-07-03 15:08:39

虧損降45%，至3,800萬，986持有745、802、1027、1063、1225、2324、8021、8193、8195

118 : greatsoup38(830)@2016-08-23 06:46:59

虧損降60%，至1,200萬，3.5億可變現資產

119 : greatsoup38(830)@2017-02-07 05:33:38

盈警

120 : GS(14)@2017-05-04 19:39:34

虧損降50%，至2,800萬，5.1億現金

121 : greatsoup38(830)@2017-06-28 06:06:59

盈警

122 : greatsoup38(830)@2017-06-28 17:39:50

本公司董事會（「董事會」）謹此知會本公司股東（「股東」）及有意投資者，基於董
事會現時可得之資料，預期於截至二零一七年六月三十日止六個月，本集團將錄
得股東應佔重大虧損。有關重大虧損乃主要由於上市證券中持作買賣投資之已變
現公平值虧損所致。
本公司現正落實本集團截至二零一七年六月三十日止六個月之財務報表。本公佈
所載資料僅為董事會基於現時可得資料作出之初步評估及須由董事會作出進一步
審閱。本集團之財務資料及其他詳情將於本集團截至二零一七年六月三十日止六
個月之中期業績公佈內披露。

123 : GS(14)@2018-01-26 18:26:29

本公司董事會（「董事會」）謹此知會本公司股東（「股東」）及有意投資者，基於現
時可得之資料，預期截至二零一七年十二月三十一日止年度，本集團將錄得股東
應佔重大虧損。有關重大虧損乃主要由於持作買賣投資之公平值虧損達約219.2百
萬港元所致。

124 : GS(14)@2018-01-27 11:03:44

盈警

125 : GS(14)@2018-03-28 05:14:41

虧損降7成，至900萬，1.32億可變現資產

126 : GS(14)@2018-03-28 05:15:08

持有1884、1226

127 : GS(14)@2018-05-24 15:47:24

1063 sell 1647

128 : GS(14)@2018-08-13 19:16:48

本公司董事會（「董事會」）謹此知會本公司股東（「股東」）及有意投資者，基於現
時可得之資料，本集團預期截至二零一八年六月三十日止六個月錄得股東應佔溢利，
而截至二零一七年六月三十日止六個月錄得股東應佔重大虧損約208,300,000港元。
預期轉虧為盈乃主要由於截至二零一八年六月三十日止六個月錄得持作買賣投資
之公平值收益達約8.8百萬港元所致。

PermaLink: https://articles.zkiz.com/?id=271190

中國環保能源(0986，前南興)討論區(只討論電動車項目的真偽，關係:1063、華匯、詹培忠)

1 : GS(14)@2014-08-24 23:33:57

http://realforum.zkiz.com/thread.php?tid=6483\r\nhttp://realforum.zkiz.com/thread.php?tid=5786\r\n前專區

2 : GS(14)@2014-09-19 01:37:58

5,800萬買垃圾

3 : GS(14)@2014-09-19 01:38:33

5,800萬買垃圾

PermaLink: https://articles.zkiz.com/?id=285168

📖 ZKIZ Archives

Random Tags