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關於生果日報首都創投(2324)文章的補充

今日看完生果日報引述Webb先生文章關於 首都創投(2324,前德泰大中華)及朗力福(8037)的報導,覺得還有一些不足,謹此補充如下:

1. David Webb列出 5大張紙,詳細道出丘忠航與朗力福和首都創投之間的關係。

筆者在星期日已經用Chrome打印出此文章,發覺只有3頁,可能用了不同的瀏覽器,所以頁數有偏差吧。

2. 除股權上有密切關係外, Webb亦指出,朗力福主席張鴻,原來於 03年曾協助首都創投上市,張鴻當時為國泰君安銷售部副總裁。此外,朗力福獨立非執董陳慧殷來自首都創投持 30%權益的 CNI Bullion,任職銷售部董事,其獨立性亦受到質疑。

可能David Webb 不懂太多中文和生果日報不懂查年報,補充少量資料如下:

1. 張鴻

如果細心留意投資一周明報的訪問,你就明白了:

這篇報導所講發行可換股債券的上市公司,經小弟細心查找後,發覺有兩家公司適合,但這兩家公司不是因集資發行可換股債券,主要因為在這堆公司發行可換股債券收購發行的。作為Webb提及這堆公司的主席之一,為何要歪曲事實,記者又不作小心查證?

另外,那本周刊還有幾篇報導訪問他本人,每一篇都是見到這名人士不停誇大事實,更有一篇在6月11日的報導唱衰David Webb,請自行參考這些報導。

今次到筆者懷疑他們,當在5月17日的時候,朗力福把首都創投股權增持至9.12%,觸發全購,但並無作出任何表示,在接受訪問的時候,那人已經是該公司主席,是否當時已經接到David Webb的查詢,導致要寫一篇這樣的文章,先給他打毒針,以減少這些東西發生的時候,減低對他們的傷害?

另外,這本雜誌不停地提出一些似是而非的文章,在基本上完全站不住腳,訪問的人物是我極欽佩的股市人物,為甚麼? 

2. CNI Bullion

如果生果日報肯花心機尋找年報資料,可以得悉到這公司的中文名稱是中國北方金銀業有限公司。

然後順藤摸瓜,又找到這些東西:

 

然後又找到些類似名稱的東西

 我相信也不用解釋甚麼吧,可以見到這些機構的獨立性有多高。

另外Webb的文章有很多值得留意的東西,因時間所限,不能解釋更多,稍後我會把它全部翻譯出來的。

關於 生果 日報 首都 創投 2324 文章 補充
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馬斯葛(0136)專區(關係:華匯、詹培忠、廖駿倫、鼎珮、Penta、0273、0622、0913、1141、2324)

1 : GS(14)@2011-01-19 23:09:56

http://zkiz.com/tag.php?tag=%E9%A6%AC%E6%96%AF%E8%91%9B
文章
2 : GS(14)@2011-01-19 23:18:00

http://www.hkexnews.hk/listedco/ ... TN20110119509_C.pdf
1. 公司買山陽光伏50.1%股權,作價1.5億美元
http://realblog.zkiz.com/greatsoup/17110
釐定代價之基準
代價乃本公司與賣方經參考
(i)估值師於二零一零年六月三十日之初步業務估值介乎274,000,000美元至330,000,000美元;

(ii)山陽科技計劃開始興建額外五個生產廠房,將可於二零一二年第一季之前由目前設計產能3,500公噸增至產能高達21,000公噸;

(iii)降低太陽能電池用多晶硅生產成本之技術缺乏;及

(iv)對太陽能電池用多晶硅之預期未來需求後,按公平原則磋商釐定。

因此,銷售股份應佔價值介乎137,274,000美元至165,330,000美元。

按山陽科技於二零一零年六月三十日之未經審核管理賬目所示,山陽科技之資產淨值為新台幣
845,605,449元(或相等於約28,771,876美元)。


2. 公司信納海潤光伏對山陽科技樣品之測試結果,。預期山陽科技將於二零一一年第一季展開多晶硅商業生產。

3. 海潤光伏楊懷進及Improve認購股份354,100,608股,每股40仙。楊懷進乃海潤光伏副主席兼行政總裁。海潤光伏總部設於中國江蘇省,增長迅速,為硅錠、鑄錠、硅片、電池及組件等太陽能光伏產品之垂直整合製造商,其客戶遍佈全球。楊懷進亦為納斯達克上市公司晶澳太陽能控股有限公司(納斯達克:JASO)之創辦人及尚德太陽能控股有限公司(紐約證券交易所:STP)與中電光伏有限公司(納斯達克:CSUN)之共同創辦人。

4. 配售12億元新股及16億CB,新股發售價40仙,CB換股價不得低於配售價110%或44仙,以較高者為準,以發展光伏業務,真是夠大。
3 : GS(14)@2011-01-21 07:54:11

馬斯葛購台多晶硅 股價一度茘逾兩成
  2011年1月21日


馬斯葛宣布收購山陽科技,左為主席Peter Whitelam,右為執行董事老元華。(何家達攝)
4 : GS(14)@2011-01-29 21:36:42

http://www.hkexnews.hk/listedco/ ... TN20110128426_C.pdf
完成認購新股份
董事會欣然宣佈,認購事項已於二零一一年一月二十八日完成,354,100,608股認購股份已根據認購協議之條款配發及發行予認購人(由楊懷進100%實益擁有)。
5 : GS(14)@2011-02-07 23:09:45

http://www.hkexnews.hk/listedco/ ... TN20110207603_C.pdf
莊友衡博士(「莊博士」),現年55歲,彼持有美國南加州大學石油工程學碩士學位及工商管理碩士學位。二零零七年,俄羅斯杜布納大學向莊博士頒授榮譽博士學位,表揚其於石油工程領域之成就。莊博士師承George Chilingar教授,並曾經多年擔任其助理,而George Chilingar教授為石油工程領域首屈一指的專家。除多年於能源業之實際經驗外,莊博士於企業財務及發展工作方面亦積逾十八年經驗。
除上文所披露者外,莊博士:

(i) 除目前擔任威利國際控股有限公司(股份代號:273)主席兼執行董事外,莊博士於過去三年並無於其他上市公司擔任任何董事職位,威利國際控股有限公司為香港聯合交易所有限公司上市公司及本公司主要股東;
(ii) 並無於本公司或本集團其他成員公司擔任任何其他職位;
6 : GS(14)@2011-02-12 14:20:30

http://www.hkexnews.hk/listedco/ ... TN20110211179_C.pdf
又想印多30億股,真是想變成洗錢中心...一次過解決內部的死帳爛帳...

授出增發選擇權之理由及所得款項之用途
誠如公佈所述,山陽科技預期將於二零一一年七月開始興建另外五間多晶硅生產廠房,而有關該等新增生產廠房之資本開支總額估計介乎200,000,000美元至250,000,000美元之間,此舉將導致產能提升至21,000公噸。

此外,山陽科技預期將於中國興建一間大型多晶硅生產廠房。該生產廠房之資本開支估計將為150,000,000美元,預期年產能估計將為18,000公噸。有關目標集團業務擴展計劃之進一步詳情,將載於就收購事項及配售授權而寄發予股東之通函(「通函」)內。

董事相信,新廠房在中國所處位置將鞏固山陽科技與其客戶及戰略夥伴之間的戰略合作關係,並將有助山陽科技實現多晶硅生產之快速商業化、未來業務發展及大量生產多晶硅。
7 : GS(14)@2011-04-16 12:49:34

http://www.hkexnews.hk/listedco/ ... TN20110415776_C.pdf
136炒股輸錢
8 : GS(14)@2011-05-21 13:42:15

http://www.hkexnews.hk/listedco/ ... TN20110519608_C.pdf
通函發出

經擴大集團之無形資產減值虧損或會影響其財務狀況。
未經審核備考綜合財務資料載於本通函附錄三,當中列明於二零一零年十二月三十一日,核心技術之視作成本為2,100,214,000港元。根據本集團之會計政策,本集團所收購之無形資產須於本集團之財務狀況表以成本減去累計攤銷和減值虧損計量。

上述各多晶硅製造商之產能及市場份額載列於下表:
Hemlock Wacker 保利協鑫 REC OCI MEMC Tokuyama
之產能(公噸) 36,000 30,500 25,000 17,000 16,000 12,500 8,200
截至二零一零年底市場份額 24% 20% 17% 11.5% 11% 8.5% 5.5%

...
Sun Mass於二零一零年五月十七日註冊成立,為持有祿訊之權益之特別目的公司。於簽訂日期,Sun Mass由謝女士實益擁有100%。重組包括由Sun Mass收購祿訊之全部已發行股份,須經台灣之投資委員會事先批准。於二零一零年七月二十六日,Sun Mass就以購買價新台幣900,000,000元收購祿訊之全部已發行股份向投資委員會提交申請。經謝女士及賣方告知,購買價乃由謝女士(作為SunMass之實益擁有人)與當時祿訊之其他股東按祿訊當時之資產淨值並經參考重組完成後對祿訊當時股東之潛在稅務影響後,公平磋商釐定。投資委員會於二零一零年八月四日批准Sun Mass以購買價新台幣900,000,000元收購祿訊之全部已發行股份。

...
於二零一一年一月十九日,董事會欣然宣佈,本公司已於二零一零年十二月三十一日與賣方、謝女士及吳博士訂立買賣協議。據此,本公司有條件同意根據買賣協議之條款及條件,以150,000,000美元向賣方購入目標公司50.1%已發行股份。

...
山陽科技相信,於其首個生產廠房全面投入商業生產後,其多晶硅之價格
及品質均具競爭力。按照有關基準及根據山陽科技之預測,直至二零二零年年
末,上述購買協議產生之訂單將佔其預計之重大部份產能。由二零一零年至二零
一五年,山陽科技根據現有購買協議供應之多晶硅最高數量總額及於台灣之設計
產能如下:
年份
根據購買協議
之最高數量
(附註1)
設計產能
(t.p.a)
(附註2)
產能之概約
使用率
(附註3)
二零一零年╱二零一一年 2,500噸 3,500 t.p.a. 71%
二零一二年 5,000噸 15,000 t.p.a. 33%
二零一三年 6,000噸 21,000 t.p.a. 29%
二零一四年 7,000噸 21,000 t.p.a. 33%
二零一五年 8,000噸 21,000 t.p.a. 38%

估值結論
根據上文概述之調查及分析以及採用之估值方法,吾等認為,山陽科技於估值日之業務企業之公平值定為三億六百萬美元(306,000,000美元正),乃屬合理。
9 : sunshine(3090)@2011-05-21 18:19:09

變咗台灣公司smiley
10 : greatsoup38(830)@2011-05-21 18:20:08

9樓提及
變咗台灣公司smiley


邪台公司
11 : sunshine(3090)@2011-05-21 18:29:13

楊懷進 會唔會係 福方 嘅 楊老板的親戚smileysmiley
12 : GS(14)@2011-07-01 22:05:31

http://www.hkexnews.hk/listedco/ ... TN20110630018_C.pdf
136已華匯化
發表於:2011-07-01 19:15:06
13 : GS(14)@2011-07-01 22:05:53

http://www.hkexnews.hk/listedco/ ... TN20110630875_C.pdf
繼續統一河山,買埋25樓
14 : GS(14)@2011-07-06 23:11:54

http://www.hkexnews.hk/listedco/ ... TN20110706834_C.pdf
完成建檔程序
董事會欣然宣佈,配售事項之建檔程序已於二零一一年七月五日完成,且本公司已獲投資者承諾認購2,200,000,000股配售股份及總額為1,450,000,000港元之可換股債券。

又被佢過關...唉

配售事項之所得款項總額
配售配售股份及可換股債券預期可籌集所得款項總額2,330,000,000港元,其中880,000,000港元將來自按配售價配售2,200,000,000股配售股份。
15 : GS(14)@2011-07-06 23:23:06

http://sdinotice.hkex.com.hk/di/ ... 6&src=MAIN&lang=ZH&

friend 過打band

廖駿倫  101(L)
1,000,000,000(L)
HKD 0.500  1,024,000,000(L)
44.43(L)
30/06/2011

Capital VC Limited  101(L)
195,000,000(L)
HKD 0.400  195,000,000(L)
8.46(L)
29/06/2011

Beijing Yu Sheng Tang Pharmaceutical Group Limited  101(L)
200,000,000(L)
HKD 0.400  315,000,000(L)
13.67(L)
29/06/2011

PMA Capital Management Limited  101(L)
780,000,000(L)
HKD 0.500  780,000,000(L)
33.84(L)
29/06/20
Penta Investment Advisers Limited  101(L)
550,000,000(L)
HKD 0.400  550,000,000(L)
23.86(L)
29/06/2011

PMA Capital Management Limited  101(L)
780,000,000(L)
HKD 0.500  780,000,000(L)
33.84(L)
29/06/2011

http://sdinotice.hkex.com.hk/di/ ... 6&src=MAIN&lang=ZH&

VMS Investment Group Limited

http://sdinotice.hkex.com.hk/di/ ... 6&src=MAIN&lang=ZH&


張文山
16 : GS(14)@2011-07-16 13:58:49

http://www.hkexnews.hk/listedco/ ... TN20110715734_C.pdf
朋友多就真著數...

董事會欣然宣佈,配售協議所載之所有條件均已達成,且配售事項已於二零一一年七月十四日完成,據此,(i)合共2,200,000,000股配售股份及(ii)總金額為1,450,000,000港元之可換股債券已配售予至少於六名承配人,且該等承配人及其最終實益擁有人均獨立於本公司或其關連人士且與彼等概無關連。
17 : wanker44(12796)@2011-07-16 18:09:51

係咁印股票, 睇黎又要一輪大工程啦.....雖然周生話呢隻想改邪歸正,睇黎都幾難...似係本性難移
18 : GS(14)@2011-07-16 18:21:36

把錢集中在其中一家公司,然後又大手供股駛晒去..的確想改邪歸正,但是錢唔輪到你賺
19 : Louis(1212)@2011-07-20 21:36:07

馬斯葛(00136)獲張文山增持1984萬股
【19:42】2011年07月20日

【on.cc專訊】聯交所股權變動資料顯示,馬斯葛(00136)於11年7月18日獲張文山增持1,984萬股,令持股數目增加至41,780萬股( 每股的平均價HKD 0.492)。

http://sdinotice.hkex.com.hk/di/ ... 6&src=MAIN&lang=ZH&
20 : GS(14)@2011-07-20 22:15:31

又想呃人
21 : GS(14)@2011-08-02 07:44:52

http://www.hkexnews.hk/listedco/ ... N201108011236_C.pdf
換爛big 4
22 : GS(14)@2011-08-30 08:01:29

http://www.hkexnews.hk/listedco/ ... TN20110829780_C.pdf
給一堆40仙購股權給管理層,都是老招
23 : Louis(1212)@2011-08-31 13:30:10

http://www.hkexnews.hk/listedco/ ... TN20110829780_C.pdf
馬斯葛136給一堆40仙購股權給管理層,都是老招



承授人職務  購股權相當於
吳以舜博士董事及山陽科技之主席兼行政總裁 450,000,000股股份
胡耀東先生董事及山陽科技之總裁 115,000,000股股份
莊友衡博士非執行董事及本公司之副主席 75,000,000股股份
朴義源先生本公司之顧問 50,000,000股股份
老元華先生董事 10,000,000股股份
鄭蓮晃先生山陽科技之副總裁兼一廠廠長 10,000,000股股份
張永明先生山陽科技之高級副總裁兼營運總監 10,000,000股股份
沈昭先生山陽科技之高級副總裁兼財務總監 10,000,000股股份

勁人吳以舜博士的著名資格:

首席科學家 - 吳以舜博士

介紹加入時間:2011 -03- 2320:04文章來源:未知添加作者:

ADMINhttp://gxsnoil.com/a/shunnenjishu/jishutuandui/2011/0323/3.html

吳以舜博士(Mark Yi-Shune Wu)著名美籍華人科學家,1981年畢業於台灣大學化學系,1992年取得美國加州理工學院量子化學動力學博士學位,歷任加州理工學院研究員、資深研究員、教授、北京大學客座教授、加州聖地亞哥超級電腦中心主任、IBM瑞士研究中心專案講師、美國NASA/APPA HPC項目規劃主管、NASA/JPL顧問等職。現任美國ENERAGE公司(美國安炬科技科份公司)執行長和董事局主席、Sun Materials Technology公司技術長、亞太替代能源理事會會長。同時出任天津東方舜能潤滑材料有限公司首席科學家、技術長。

吳以舜博士曾參與多項大型研發計劃,如美國APPA SDI化學激光的研發、美國ARPA/NSF/DOE兆位元資訊高速綱絡的建設及開發。他在1991年首度發現化學反映的幾何相位,被美國物理協會列為1993年年度最重要發現之一。吳博士在量子​​動力學的研究上曾獲得多項獎項,也是高速電腦中平行處理器研發的首創者之一。

吳以舜博士也是新型燃料電池的早期發明者之一。燃料電池作為一種清靜、高率能源,早在七十年代美國阿波羅太空計劃中就展現其無可比擬的優勢。吳博士研發的新式甲醇燃料電池,質子交換膜採用特殊材料製成,利用甲醇做燃料,同時利用納米技術提高電池效能,其價格僅與一般可充電式二次電池相當,而能量密度卻提高十倍以上,使3C產業擺脫了電能嚴重不足的窘境,從而進入了一個嶄新的境界。 2004年美國能源部己將燃料電池加以推廣,廣受尖端科技產業、學術界人士及環保團體的高度肯定,並且列為二十一世紀十大高科技技術之首。在新能源的應用領域,吳以舜博士研發的太陽能多晶矽技術為廣泛利用太陽能作出了傑出貢獻。

吳博士原創的金屬表面陶瓷合金潤滑技術,開創了潤滑領域的革命。金屬表面陶瓷合金潤滑技術是將美國宇航科技應用於潤滑領域,它以金屬表面陶瓷合金耦合劑為核心,潤滑油為載體,創造性地以化學耦合方式,在機具運轉過程中生成共價鍵結陶瓷結構,形成超硬、超滑、耐高溫、抗腐蝕等特性的陶瓷金屬材料,使摩擦表面陶瓷化,從而大幅度降低摩擦係數,使機具具備了超強的極壓抗磨性能,表現出優異的節能環保功效。作為華人,吳以舜博士首先將該技術引進國內,在試生產試營銷過程中,金屬表面陶瓷合金潤滑技術的原創技術優異性能分別在發動機領域、齒輪領域、軸承領域等創造了一系列世界紀錄,並獲得國家科技部、商務部、質檢總局、環保部四大部委的《國家重點新產品》證書和《國家科技成果重點推廣計劃》項目證書,央視《科技博覽》以世界尖端科技作專題報導。它最突出的貢獻是用最經濟的方式將航天科技民用化,具有極大的經濟價值和社會價值,為有效解決我國能源問題、環保問題和建設節約型經濟可持續性發展的和諧社會將作出不可估量的貢獻。


使用勁人吳以舜博士的著名資格作為藉口和準備炒作?
24 : GS(14)@2011-08-31 19:10:17

向上炒不用的
25 : GS(14)@2011-10-05 11:08:29

http://www.hkexnews.hk/listedco/ ... N201110041239_C.pdf
又用25億買埋舊垃圾剩下的49.9%股權,以現金及債券支付,D錢就咁洗晒出來啦...

董事會欣然宣佈,本公司已於二零一一年九月十二日(交易時段結束後)與賣
方及謝女士訂立買賣協議,據此,本公司有條件同意根據買賣協議之條款,
以2,500,000,000港元向賣方購入目標公司49.9%已發行股份。收購事項之代價
將由本公司於完成時以下列方式支付:(i)以現金750,000,000港元;及(ii)本公
司通過向賣方(或其代名人)發行代價債券籌資1,750,000,000港元。待收購事
項完成後,目標公司將成為本公司之全資附屬公司。
收購事項須待各項銷售條件達成(或豁免,如適用)後,方告完成。
買賣協議規定,待完成後,賣方與山陽科技將訂立備用信貸限額協議,據
此,賣方將有條件同意向山陽科技提供至多500,000,000港元之備用信貸限
額,以供撥付山陽科技一般營運資本所需。
26 : GS(14)@2011-10-05 11:09:35

商業化進程之重大飛躍
自從本公司有關初步收購事項之通函於二零一一年五月二十日備案至今,山陽科
技在提高其工序效率及進一步降低潛在生產成本方面已取得重大進步。

儘管山陽科技能夠於二零一一年六月之前開始有限規模之商業生產,但其認為可
進一步提升效率,令製造過程中中間生產設備一個主要部件之產量得以大幅提
高。山陽科技在諮詢本公司後決定,提高效率所帶來之好處遠勝於任何潛在推遲
開始商業化生產之弊端。與該中間過程相關之製造成本佔總製造成本之約40%,
故此效率之任何提升均會大幅改變本公司多晶硅之製造成本。隨著本季度全新改
良工序之實施,山陽科技預期將於二零一一年第四季度完成餘下輔助設備之安裝
並投入商業生產。
進行收購事項之時機
鑒於彼等對山陽科技實現多晶硅商業化生產之可能性信心不斷提升,董事認為,
倘在山陽科技開始商業生產前便協定支付銷售股份之代價,則代價之金額很可能
會遠低於原須支付之金額。此外,開始商業生產所導致之目標集團估值或收益之
增加額之全部(而非收購事項進行前之僅50.1%)將由本公司保留。
集中控制權
董事獲悉,整個投資界均感難以對本公司作出估值。儘管本公司現時透過持有山
陽科技50.1%權益保持技術上控制山陽科技,但董事認為,由於市場認為本公司
對山陽科技缺乏明確之控制權,故本公司之股份價值在市場上被大打折扣。投資
者已表示擔憂彼等於山陽科技之實際權益將因本公司日後發行股份(包括因行使
根據本公司未轉換可換股債券賦予之轉換權及與日後可能集資相關之任何股份發
行而發行股份)而被攤薄至低於可接納水平。此外,本公司是否會行使認購期權
及收購山陽科技剩餘之49.9%權益以及任何相關收購之代價結構及應付款項尚存
在市場不明朗因素。董事認為,該等因素已導致現有及潛在投資者對本公司之價
值持保守看法。董事認為,收購山陽科技全部控制權將有助於消除該等擔憂。
如上文所述,山陽科技需要資金撥付其現有及未來擴張計劃,而該等計劃對其實
現收益及盈利能力最大化至關重要。山陽科技現時之融資能力受到限制,此乃由
於賣方可供按比例分攤山陽科技資本需求之財務資源有限。將境外資金匯至台灣
可能亦需賣方耗費大量管理時間及金錢,以符合台灣海外投資法規。取得海外投
資批准以向台灣境內匯付資金所需之冗長時間會影響山陽科技自賣方獲得資金。
儘管賣方準備克服程序性困難就備用信貸限額所規定之限定匯款次數遵守台灣外
國投資法規,但賣方認為因其身為股東須持續注資而作出此行動乃屬不智。董事
認為,將山陽科技之所有權歸於單一控股股東麾下,將能夠使山陽科技以更便
利、快捷及更低成本獲得進一步股本投資及股東貸款。
收購事項將令山陽科技可取道債券及股票市場獲得資金,倘山陽科技並非由本公
司間接全資擁有,則其將難以借助此門徑。賣方就收購事項向山陽科技提供備用
信貸限額,亦將提升山陽科技之財務狀況。

董事認為,投資者及僱員將對本公司收購目標集團100%控制權以展示本公司對目
標集團之長遠承諾作出積極回應。
27 : GS(14)@2011-10-05 11:10:38

董事亦認為,收購目標集團100%控制權將產生一個乾淨利落之股權架構,從而令
本公司得以進行併購活動及其他相關價值提升活動。

目標集團之所有權集中於本公司後,日常業務營運、集資及業務擴張將得以簡
化。由於在進行初步收購事項時與目標公司少數股東協定之少數權益保障權於完
成後將不再適用,故內部企業管治亦將因目標公司成為全資擁有而大幅提升。

D小股東真是給你玩到乾淨利落,認購的錢就咁分番畀真正的金主,實現無本生利的計謀
28 : greatsoup38(830)@2011-10-23 10:00:14

2011-10-15 HJ
...

值得注意的,已承諾向山陽科技提供5 億元備用信貸,即馬斯葛手頭資金已用盡,如有需要,將另作安排。
預期山陽科技未來數年的大部分現金流,將用於發展及營運,由於至明年底的資本需求達21.45 億元,或需透過銀
行借貸或進軍國際資本市場,以取得額外融資。換言之,未來數年將難向馬斯葛提供現金流, 而兩年期非換股債券
17.5 億元,可能選擇延期,而三年期的可換股債券14.5億元,換股價50 仙,希望股價配合,如可換股,相當於不
必還款。至於兩年期非換股債券,要留意的是首兩年利率2.5 %,其後是12.5%,利息負擔沉重。
馬斯葛的收購未擁有的山陽科技股權,耗資龐大,雖事前已集資,仍要承擔大量債項。山陽科技據說年底可以獲利
,相信為數有限,較多的現金流及盈利,只能期望發展計劃於2012 年底完成之後,但仍有計劃於內地興建廠房,山
陽科技或需借貸,難以對馬斯葛提供現金流。馬斯葛需要作出更理想的安排。
筆者過去討論曾指股權不明,至今已大致塵埃落定,董事會只佔完成債券換股後0.05%,而現時持有可換股債券持
有人共佔38.33%,相信頗為分散。較為明顯的,是一投資機構佔7.43%以及威華達(622)佔6.75%,。
戴兆
29 : andy(858)@2011-10-24 19:06:30

http://www.hkexnews.hk/listedco/ ... TN20111024304_C.pdf

盈利警告
30 : GS(14)@2011-10-24 21:10:00

本公司董事會(「董事會」)謹此通知本公司股東及有意投資者,預計本集團截至二零一一年九月三十日止六個月之業績相較二零一零年同期將錄得重大虧損,此乃主要由於香港股票市場近期普遍下跌導致本集團之持作買賣投資錄得已變現及未變現重大虧損所致。本公佈所載資料乃基於本公司現時可用之資料及本公司管理層對本集團管理賬目之初步評估而刊發,該管理賬目並未經本公司核數師審閱或審核。

應該是華匯系股票投資,真是唔小心
31 : Clark0713(1453)@2012-03-06 23:01:22

建議股本重組

http://www.hkexnews.hk/listedco/ ... N201203061041_C.pdf

"建議股本重組
董事擬向股東提呈實施股本重組之建議,將會涉及下列各項:
(i) 建議將本公司股本中每十六(16)股每股面值0.10港元之已發行及未發行股
份合併為一(1)股每股面值1.60港元之合併股份;

(ii) 透過註銷本公司繳足股本(即當時每股已發行合併股份註銷1.59港元,將
當時合併股份之面值由每股1.60港元削減至0.01港元)以削減本公司已發行
股本;及

(iii) 將當時每股面值1.60港元之法定但尚未發行合併股份拆細為160股每股面值
0.01港元之新股份。"
32 : GS(14)@2012-03-06 23:06:54

是都要食晒D錢先向下炒,好賤
33 : wanker44(12796)@2012-03-07 09:05:02

十六合一...唔...果然賤..到時碎股多到無倫.
34 : GS(14)@2012-03-07 20:56:43

33樓提及
十六合一...唔...果然賤..到時碎股多到無倫.


華匯作風差唔多啦
35 : sunshine(3090)@2012-03-11 17:16:33

622 had bought 136 at 0.4 and cut loss recently,around 0.06-0.1 level, before the announcemnt of reorganisation. will the relationship of them continue?
36 : GS(14)@2012-03-11 17:19:29

35樓提及
622 had bought 136 at 0.4 and cut loss recently,around 0.06-0.1 level, before the announcemnt of reorganisation. will the relationship of them continue?


都唔只呢樣啦,買歌德、Hennabun都易已話呢間公司華匯化緊
37 : GS(14)@2012-03-11 17:20:09

http://realforum.zkiz.com/thread.php?page=2&tid=6817
38 : GS(14)@2012-03-23 00:37:14

http://www.hkexnews.hk/listedco/ ... TN20120321808_C.pdf
算唔算關連交易?
董事會宣佈,於二零一二年三月二十一日交易時段後,貸方(本公司之全資
附屬公司)與借方訂立貸款協議,據此,貸方同意向借方借出一筆為數最多
50,000,000 港元之貸款,自提取日期起計為期十二個月,年利率為8 厘。貸款
以擔保作抵押。
鑑於貸款按上市規則計算之若干相關適用百分比率超過5%但低於25%,故
提供貸款構成上市規則第十四章項下本公司一項須予披露交易,須遵守上
市規則之申報及公告規定。
貸款協議
日期: 二零一二年三月二十一日
貸方: 星晨外幣找換有限公司,本公司之全資附屬公司
借方: STI Wealth Management (Cayman) Limited

http://sdinotice.hkex.com.hk/di/ ... h&src=MAIN&lang=ZH&
VMS Private Investment Partners II Limited
39 : GS(14)@2012-04-01 21:20:08

http://www.hkexnews.hk/listedco/ ... TN20120401379_C.pdf
又吹水了

更新多晶硅業務之狀況
誠如本公司於二零一一年十二月十九日之通函(「非常重大收購事項之通函」)所
闡釋,內容有關非常重大收購事項及關連交易,山陽科技股份有限公司(「山陽科
技」)通過進一步提高生產工序的效率為即將開始的生產進行產能提升。預期產能
提升後能大幅提高製造過程中中間生產設備一個主要部件之四氟化硅的產量,最
終進一步減少四氟化硅的整體生產成本。本公司認為,由於相關設備的複雜性、
精密性及高科技特徵,完成產能提升工作須耗費時間及間接影響開始生產的時
間。然而,本公司相信,產能提升後所帶來的潛在好處遠超過耗費額外時間帶來
的不利影響。於刊發非常重大收購事項之通函之時,預期在工序改進之後,生產
將於二零一一年年底前開始。
本公司謹此向股東及潛在投資者更新有關上述產能提升工作於本年度第一季度之
狀況。完成生產設備安裝改進後,山陽科技之研發及操作團隊已調試及調整新安
裝設備的多個精密部件。該程序所耗時間超過預期並仍在繼續,因此當前生產尚
未開始。儘管如此,四氟化硅的產量提升工作進展順利。本公司估計,根據本季
度已取得的進展,隨著目前改進工作的持續進行,產量將得到進一步提升。四氟
化硅產量的提升最終將減少整體生產成本,主要因為節省了原料的使用,而產能
將與原計劃一致。本公司已設定一個提升四氟化硅產量的內部指標,從而提升整
個生產工序的整體競爭力,而當達標後(預期於二零一二年第二季度實現),山陽
科技將為現有客戶進行生產而獲得收益。
本公司相信,於目前評估山陽科技就其多晶硅生產所採用的技術是否存在任何預
期的減值虧損尚屬過早,因為評估必須考慮關鍵業務及經營因素,包括上文提及
的目前仍在進行的產能提升工作成果及修訂後的生產時間表,才能達到公平及合
理。然而,本公司認為目前尚無任何跡象顯示已產生減值虧損。
本公司將持續監督產能提升工作的進展,且截至本公佈日期,本公司並未知悉有
任何事宜可能對本公司業務造成重大不利影響。
40 : greatsoup38(830)@2012-04-11 00:11:38

http://webb-site.com/
The original purchase price was $0.40 per share, $200m in total, and they have been sold for $40.26m, or about $0.0805 per share, an 80% loss.

Webb話個認購價是每股40仙,合計2億,但只是賣得4,026萬,或每股8.052仙,即是錄得約80%損失。
41 : GS(14)@2012-06-19 00:09:41

http://www.hkexnews.hk/listedco/ ... TN20120618649_C.pdf
成功試生產
42 : GS(14)@2012-06-20 01:36:41

http://www.hkexnews.hk/listedco/ ... TN20120619495_C.pdf
民豐配5,700萬股@24仙
43 : GS(14)@2012-07-01 00:58:36

http://www.hkexnews.hk/listedco/ ... TN20120629299_C.pdf
華匯爛殼
44 : GS(14)@2012-07-17 23:41:12

http://www.hkexnews.hk/listedco/ ... TN20120717504_C.pdf
痴線的,1供8,每股17仙
45 : GS(14)@2012-07-17 23:41:22

馬斯葛集團有限公司(「本公司」,連同其附屬公司「本集團」)知悉今日本公司股份成交價及成
交量上升。本公司董事會(「董事會」)茲聲明,本公司擬進行供股活動,其條款仍須待本公司
與建議包銷商進一步磋商及最終協定。截至本公佈日期,可能供股擬按於記錄日期每持有一
股股份供八股供股股份之基準,以每股供股股份0.17 港元之建議認購價進行。本公司暫時考
慮籌集所得款項總額約465,810,000 港元,本公司擬將所得款項淨額約40%用作償還現有債
務及支付利息,以及約60%用作一般營運資金,包括提升本集團有關其多晶硅業務之生產設
施。
46 : greatsoup38(830)@2012-11-10 16:59:35

http://www.hkexnews.hk/listedco/ ... TN20121108531_C.pdf
136
Nothing special
根據一般授權配售68,501,684 股新股份
董事會宣佈,於二零一二年十一月八日(交易時段後),配售代理與本公司訂立配售協議,據此,配售代理有條件同意按全數包銷基準以每股股份0.17 港元之價格配售合共68,501,684 股新股份予不少於六名承配人。
配售事項下之68,501,684 股配售股份相當於本公司於本公佈日期之現有已發行股本371,048,420 股股份約18.46%,及經配售事項擴大之當時已發行股本439,550,104 股股份約15.58%。
配售價0.17 港元較(i) 於二零一二年十一月八日(即配售協議日期)在聯交所所報之股份收市價0.204 港元折讓約16.67%;及(ii) 緊接二零一二年十一月八日前過去最後五個連續交易日在聯交所所報之股份平均收市價0.202 港元折讓約15.84%。
配售事項之所得款項總額將約為11,640,000 港元,而配售事項之所得款項淨額則將約為11,100,000 港元,將用作一般營運資金。
47 : greatsoup38(830)@2012-11-25 19:31:43

http://www.hkexnews.hk/listedco/ ... TN20121122535_C.pdf
有條件協議
於二零一二年十一月十九日(交易時段後),Mega Soar、本公司及買方訂立有條件協議,據此,(i) Mega Soar 已同意出售而買方已同意購買SS 股份;及(ii) Mega Soar 已同意轉讓╱或促使其聯繫人士轉讓SD貸款之利益及權益予買方,總代價為88,000,000 港元。有條件協議之詳情載於下文「有條件協議」一節。
賣華匯中心25樓畀中南財務
完成有條件協議之財務影響及出售事項之所得款項用途
根據初步評估,本集團預期於完成後確認虧損淨額約1,700,000 港元,乃總代價88,000,000港元減本公司給予Smart Style 集團之SD貸款總額約67,900,000 港元及於二零一二年十月三十一日之按揭貸款未償還金額24,000,000 港元(如「代價」一節所披露,將於完成後落實調整),再加回於二零一二年十月三十一日之負債淨額3,200,000 港元,並計入出售事項之估計交易成本約1,000,000 港元。出售事項之所得款項淨額約63,000,000 港元將用作抵銷本公司向中南証券財務借入本金總額
為100,000,000 港元、每月利率1%之貸款融資於完成日期之金額。於二零一二年十月三十一日,本公司向中南証券財務借入之貸款本金已全數用作本集團之營運資金。

進行出售事項之理由及好處
本集團主要從事在台灣製造太陽能級多晶硅、證券投資及買賣、提供融資、物業投資及照相及多媒體產品配件製造及銷售業務。
本公司之流動資金緊絀,原因如下:
於本公佈日期,本集團之多晶硅業務尚未完成,實施回收廠房及其他設施之資金相當倚賴本集團之內部資源,仍未確定本集團多晶硅業務之商業生產日後會否進一步延遲。因本集團多晶硅業務之性質,商業生產之任何進一步延遲必會影響預期流入本公司之經濟利益(如收益、純利及現金流量淨額)。
本公司最近已用盡辦法透過建議供股及配售新股份集資,應付財政困難。本公司於二零一二年七月十七日最先宣佈有意建議進行供股,所得款項總額約465,810,000 港元主要用作償還現有債項及支付利息,以及提升本集團多晶硅業務之生產設施。可惜,本公司在建議供股方面之過程意外冗長。過去四個月,本公司之股價下跌了超過20%,因應股價下跌,建議認購價
可能會下調,因而減少建議供股將籌集之所得款項淨額,令本公司日後之流動資金進一步受壓。
另外,誠如於二零一二年十一月八日所宣佈,本公司訂立配售協議以籌集所得款項淨額約11,100,000 港元作一般營運資金用途,該金額不足以讓本公司償還其未償還債項(於下文披露)。因此,股東在於二零一二年九月二十五日舉行之股東週年大會上授予董事以配發、發行及處理本公司當時已發行股本20%之一般授權已獲全數動用。
於二零一二年十月三十一日,本集團之未償還債項主要形式為(i) 於二零一四年一月到期、未償還總額1,260,000,000 港元及按年利率2.5%計息之代價債券;(ii) 於二零一四年七月到期、未償還總額1,419,000,000 港元、按年利率5%計息及可按每股股份8 港元(經調整)之轉換價
轉換為新股份之可換股債券;(iii) 於二零一三年一月到期、未償還本金額100,000,000 港元、按每月1%計息之中南証券財務提供之貸款融資;及(iv) 該物業之未償還按揭貸款24,000,000出售事項為本集團減債之吸引選擇及最佳方案,因為該物業能否於短時間內售出、其他尚未確定潛在買家可能協定之售價以及本公司能否租回該物業以供本公司使用,在現階段均費
時、不確定或對本公司不具成本效益。
董事會決定將出售事項之銷售所得款項淨額用作抵銷將於兩個月內到期之未償還中南証券財務貸款。本公司向中南証券財務借入之餘下貸款將重組,並須於完成後或本公司與中南証券財務可能協定之其他日期進行進一步協商。
同時,本公司正等待╱尋求可動用財務資源以支持本集團多晶硅業務之財務需要,同時降低其債務水平及提升其營運資金,包括但不限於債務重組及╱或其他集資活動。儘管若干債項將不會於本公佈日期起計12 個月期間內到期,惟本公司有必要致力於應付未來資金需要,以於到期時支付債項及相關融資成本。
此外,透過訂立租賃協議,本集團將能於完成後以議定租金獲得該物業之租賃一年,並可選擇續租額外一年。另外,本公司將按市況適用條款及條件向其現有租戶分租2501 室,並繼續收取正常租金收入。
之前故事
http://realforum.zkiz.com/thread.php?tid=22423
48 : greatsoup38(830)@2012-12-02 11:19:15

http://www.hkexnews.hk/listedco/ ... TN20121129658_C.pdf
136
虧損增2.25倍,至2.6億,負資產爛殼
前景
二零一二年已接近尾聲,來年之經濟前景仍然不確定。儘管全球各主要中央銀行採取寬鬆貨幣措施,惟歐洲之主權債務問題及美國之財政懸崖難題等主要因素,對世界各地主要經濟體及金融市場復甦及穩定性造成持續風險及不確定性。在個別行業層面上,光伏業,特別是多晶硅市場持續受壓,主要為由於過去數年行業產能大幅擴展導致供應過剩,以及歐洲電力收購制度減弱所致。宏觀經濟短期認為,行業將於短期內持續淘汰弱勢業者,在眾多多晶硅製造商並無長期合約支持按低於現金成本之現貨價格進行銷售之情況下,行業已步近轉折點,且由於弱勢業者繼續加快倒閉或退出行業之步伐,未來數月將出現產能下降。
鑒於太陽能及多晶硅行業之當前市況,本集團之未來前景將主要倚賴山陽科技開始多晶硅之商業生產,以及此業務營運日後之成功。誠如早前所述,具備額外提升生產設備之回收廠正在興建,以於商業生產開始時確保成本效益及生產環境安全之產品。回收廠之興建正在進行,大致與計劃相符。未來數月是回收廠完成興建之關鍵,本集團將密切監察進度,致令商業生產可根據預期成功於二零一三年上半年開始。
另一方面,本集團可用之財務資源被削減至低於滿意程度。本公司正發掘不同渠道尋找新資金,如最近配發新股。發掘新資金之努力不斷持續,包括計劃供股及債務重組,旨在重拾本集團之財務狀況。
49 : GS(14)@2012-12-04 00:02:33

http://www.hkexnews.hk/listedco/ ... N201212031713_C.pdf
背景
謹此提述馬斯葛集團有限公司(「本公司」)於二零一一年五月二十日刊發之通函(「該通
函」)及於二零一一年七月十五日及二零一二年四月二十五日刊發之公佈(「該等公佈」),
內容有關(其中包括)發行可換股債券。除非文義另有所指,否則本公佈所用詞彙與該通
函所界定者具有相同涵義。
於二零一一年七月十四日,配售本金總額1,450,000,000 港元、附帶可按初步換股價0.50
港元轉換為本公司股份(「股份」)之換股權之可換股債券已告完成。可換股債券將於發行
日期後36 個月當日(即二零一四年七月十四日)到期,屆時本公司將按贖回價贖回各份債
券。
於二零一二年四月二十六日,根據可換股債券之條款及條件,換股價於本公司股本重組
生效後由每股股份0.50 港元調整為每股股份8.00 港元。
於本公佈日期,可換股債券之尚未行使本金總額為1,419,000,000 港元,可於可換股債券
附帶之換股權獲行使後轉換為177,375,000 股股份。共有六名可換股債券持有人(「債券
持有人」)。經作出一切合理查詢後,就董事所知、所悉及所信,債券持有人(除彼等持
有可換股債券外)為根據上市規則獨立於本公司及其關連人士之第三方。
修訂契據(「契據」)
根據債券文件所規定之條款及條件,本公司作出任何修改須經持有尚未行使債券本金總
額51%或以上之債券持有人之書面批准。
於二零一二年十二月三日,本公司與持有尚未行使可換股債券本金總額100%之債券持
有人訂立契據,內容有關更改可換股債券之若干條款及條件。
日期: 二零一二年十二月三日(交易時段後)
訂約方: 本公司
債券持有人
更改條款
根據契據,可換股債券之條款及條件建議更改(「更改條款」)如下:
現有條款修訂
換股價每股股份0.50 港元,可予調整(其後
於本公司股本重組於二零一二年四
月二十六日生效後調整為每股股份
8.00 港元)
每股股份0.20 港元, 可予調

...
作出建議更改之理由
(i) 本集團主要從事在台灣製造太陽能級多晶硅、證券投資及買賣、提供融資、物業投
資以及製造及銷售照相及多媒體產品配件業務。然而,於本公佈日期,多晶硅之商
業生產尚未展開,故尚未為本集團帶來任何收益、純利或現金流量淨額,因此已對
本集團之經濟利益構成不利影響。進一步延遲開始商業生產(如有)將會繼續對本集
團之未來經濟利益構成不利影響。
此外,根據日期為二零一二年十一月二十八日之估值報告,本集團於本集團多晶
硅業務投資之賬面總值確認減值虧損約1,921,000,000 港元。因此,截至二零一二
年九月三十日止六個月,本集團錄得股東應佔虧損約2,392,200,000 港元,而於二
零一二年九月三十日,本集團之流動資產及流動負債分別約為119,500,000 港元及
162,400,000 港元。
(ii) 儘管本公司於二零一二年十一月十五日完成配售新股份,籌集所得款項淨額約
11,100,000 港元作一般營運資金用途,並於二零一二年十一月二十二日宣佈建議出
售其於一間全資附屬公司之全部股權,嘗試減少本集團之負債,所籌集之總所得款
項淨額遠不足以償還本集團所有未償還債項。
本公司於二零一二年七月十七日最先宣佈披露有意建議進行供股,以償還現有債項
及利息,以及提升本集團多晶硅生產設施。然而,本公司落實建議供股之過程冗
長。鑒於本公司之流動資金緊絀及本集團多晶硅商業生產之不確定性,本公司正在
考慮修訂建議供股之架構,包括增加建議供股將籌集之所得款項淨額。所得款項淨
額將主要投放於債項償還,而餘額將保留作本集團之一般營運資金。然而,股東應
注意概無建議供股之條款經已落實,且仍未確定建議供股會否進行。
(iii) 於二零一一年七月十四日(可換股債券發行日期),股份之收市價為7.68 港元(經隨
後之股本重組調整)。由二零一二年四月二十六日(股本重組之生效日期)至本公佈
日期,股份以每股0.168 港元至0.620 港元買賣。本公司股本重組後之經調整換股價
8.00 港元較於本公佈日期於聯交所所報之收市價0.169 港元溢價約47.34 倍。因此,
任何理性持有人兌換未行使可換股債券之可能性不大。由於可換股債券將於本公佈
日期起計少於兩年內到期,故董事預期,如無進行進一步集資或債務重組活動,本
公司將無法於債券到期時履行可換股債券之付款責任。
鑒於更改條款將刪去對本公司施加藉現金結算贖回可換股債券之強制性條件,更改
條款將為本公司管理其營運資金提供更高靈活性。倘本公司選擇透過發行股份贖
回可換股債券,本公司之負債總額將會減少,而本公司之權益基礎在並無現金流出
之情況下將會擴大,因而本集團可加強其財務狀況並改善其資本負債比率。因此,
更改條款容許本公司保留資金來源作未來投資機會及╱或償還截至到期日之其他債
項。因此,更改條款不會對本集團之營運造成任何不利影響。
同時,本公司繼續物色可動用財務資源(包括但不限於進一步債務重組及╱或其他
集資活動)以降低其債務水平及提升其營運資金。儘管若干債項將不會於本公佈
日期起計未來12 個月內到期,惟董事認為本公司有必要積極致力於應付其資本架
構,以於債項到期時支付債項引起之營運資金需要及相關融資成本。
經考慮上文所述,董事會認為更改條款符合本公司及股東之整體利益。
50 : GS(14)@2012-12-25 01:01:38

http://www.hkexnews.hk/listedco/ ... TN20121224341_C.pdf
無特別

根據特別授權配售176,000,000 股新股份
於二零一二年十二月二十四日(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根據全數包銷基準,按每股配售股份0.165 港元
之價格配售176,000,000 股配售股份。配售股份佔本公司於本公佈日期之現有已發行股
本439,550,104 股股份約40.04%,及其經配售事項擴大之已發行股本約28.59%。根據
配售事項,配售股份之總面值將為1,760,000 港元。
...
由於在於二零一二年九月二十五日舉行之股東週年大會上授出之一般授權獲全數動用,
故董事認為配售事項為現時唯一可採用之股本集資方法。
董事認為配售協議之條款及配售價屬公平合理。此外,董事認為配售事項將擴大本公司
之股東及資本基礎。因此,董事認為配售事項符合本公司及股東之整體利益。
本公司已採取多項措施降低其債務水平及提升其營運資金,包括但不限於債務重組及出
售資產。此外,董事正積極發掘進一步集資活動之可能性,對本集團持續營運及遵守債
務契諾相當重要,亦正等待╱尋求可動用財務資源以支持本集團多晶硅業務之財務需
要。就此而言,由於現有一般授權已獲全數動用,故本公司將於本公司下屆股東週年大
會前更新一般授權,以促進日後之股本集資得以及時進行。除更新一般授權外,本公司
擬進行其他集資活動,包括但不限於供股及物色本集團現有營運之潛在投資者╱夥伴,
以應付其財政困難。

51 : greatsoup38(830)@2012-12-29 11:38:08

http://www.hkexnews.hk/listedco/ ... TN20121228720_C.pdf
北京證券是1227附屬,又是好朋友,配售票據

本金總額: 最多100,000,000港元

進行配售事項之理由及所得款項用途
本集團主要從事於台灣製造太陽能級多晶硅、投資及買賣證券、提供融資、物業
投資及製造及銷售照相及多媒體產品配件業務。
配售事項之最高所得款項總額將不多於100,000,000港元。配售事項之最高所得
款項淨額(於扣除配售佣金及其他有關成本及開支後)估計約為94,800,000港
元。所得款項淨額將用作償還部分代價債券。
董事會認為,配售事項符合本公司及股東之整體最佳利益。
52 : greatsoup38(830)@2013-01-05 11:56:51

http://www.hkexnews.hk/listedco/ ... N201301041097_C.pdf
本公司董事會(「董事會」)謹此指出,截至本公佈日期,本公司與建議包銷商仍正在就可
能供股之條款進行協商。可能供股之條款概未落實。該公佈所披露建議供股之條款(包
括認購價)可於本公司與建議包銷商進一步協商及最終協定後更改。
本公司暫時有意透過可能供股籌集約490,000,000 港元,並將該等所得款項用作(i) 償還
現有債項及支付利息;及(ii) 作營運資金用途,包括提升本集團有關其多晶硅業務之生
產設施。
53 : greatsoup38(830)@2013-01-23 00:47:06

http://www.hkexnews.hk/listedco/ ... TN20130122523_C.pdf
於二零一三年一月二十二日,本公司與配售代理訂立配售協議之補充協議(「補
充協議」),為本公司與配售代理同意之配售事項提供修訂條款。根據補充協議,
本公司及配售代理同意,將就配售票據本金額應付利息之年利率由3.5%調高至
5%(「利率修訂」)。除於本公佈上述披露之修訂外,配售協議之所有條款及條件
於各方面均維持充分效力及作用。
54 : 0o4(31752)@2013-01-23 07:35:45

其實股民用咩心態去玩尼d股呢?
55 : greatsoup38(830)@2013-01-23 22:46:42

54樓提及
其實股民用咩心態去玩尼d股呢?


當炒炒下點知結埋婚
56 : GS(14)@2013-01-31 00:12:34

50樓提及
http://www.hkexnews.hk/listedco/listconews/sehk/2012/1224/LTN20121224341_C.pdf
無特別

根據特別授權配售176,000,000 股新股份
於二零一二年十二月二十四日(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根據全數包銷基準,按每股配售股份0.165 港元
之價格配售176,000,000 股配售股份。配售股份佔本公司於本公佈日期之現有已發行股
本439,550,104 股股份約40.04%,及其經配售事項擴大之已發行股本約28.59%。根據
配售事項,配售股份之總面值將為1,760,000 港元。
...
由於在於二零一二年九月二十五日舉行之股東週年大會上授出之一般授權獲全數動用,
故董事認為配售事項為現時唯一可採用之股本集資方法。
董事認為配售協議之條款及配售價屬公平合理。此外,董事認為配售事項將擴大本公司
之股東及資本基礎。因此,董事認為配售事項符合本公司及股東之整體利益。
本公司已採取多項措施降低其債務水平及提升其營運資金,包括但不限於債務重組及出
售資產。此外,董事正積極發掘進一步集資活動之可能性,對本集團持續營運及遵守債
務契諾相當重要,亦正等待╱尋求可動用財務資源以支持本集團多晶硅業務之財務需
要。就此而言,由於現有一般授權已獲全數動用,故本公司將於本公司下屆股東週年大
會前更新一般授權,以促進日後之股本集資得以及時進行。除更新一般授權外,本公司
擬進行其他集資活動,包括但不限於供股及物色本集團現有營運之潛在投資者╱夥伴,
以應付其財政困難。

於二零一三年一月三十日交易時段後,本公司與配售代理訂立終止契據(「契據」)終止配
售協議,代價為100,000 港元,須由本公司支付予配售代理。根據契據,本公司與配售
代理均獲解除彼等各自根據配售協議須承擔之責任。
誠如該公佈所述,本公司計劃使用配售事項之所得款項擬定用途約27,620,000 港元支付
本集團尚未償還債務之利息。本公司認為,倘本公司能適時進行本公司於二零一三年一
月四日公佈之建議供股(「建議供股」),則終止配售協議不會對本集團之現有業務及財務
狀況構成任何重大影響。本公司認為,終止配售協議符合本公司及股東之整體利益。
然而,本公司仍須倚賴其他集資活動,尤其是建議供股,以應付其營運資金及資本開支
需求,以及於二零一二年十二月二十八日首次公佈之票據配售事項,以償還部分代價債
券。除此之外,本公司將於應屆股東週年大會前更新一般授權,以便日後能適時進行股
本集資,以及考慮進行其他集資活動及物色本集團現有業務之潛在投資者╱夥伴,以應
付其財政困難。

57 : greatsoup38(830)@2013-02-01 00:55:32

http://www.hkexnews.hk/listedco/ ... TN20130131528_C.pdf
該公佈載述配售事項之所得款項淨額將用作一般營運資金,本公司於二零一二年十二月
二十四日刊發之公佈則進一步載述配售事項之所得款項淨額已用作擬定用途。董事會謹
此澄清,配售事項籌集之所得款項淨額約11,100,000 港元之實際用途應為贖回部分本公
司已發行、於二零一四年一月到期並按年票息率2.5%計息之餘下未贖回之代價債券。
58 : VA(33206)@2013-02-04 21:52:50

馬 斯 葛 集 團 建 議 供 股 集 資 , 按 每 持 有 1 股 股 份 供 4 股 , 每 股 認 購 價 0.07 港 元 , 將 發 行 不 少 於 61.38 億 股 及 不 超 過 73.65 億 股 供 股 股 份 予 合 資 格 股 東 , 估 計 集 資 淨 額 將 不 少 於 約 4.08 億 港 元 及 不 多 於 約 4.94 億 港 元 。
公 司 表 示 , 集 資 所 得 擬 用 作 建 成 多 晶 硅 業 務 所 需 回 收 廠 房 及 設 施 , 以 及 償 還 部 分 信 貸 額 度 。

http://rthk.hk/rthk/news/express ... &20130204&55&900318
59 : GS(14)@2013-02-04 22:00:33

http://www.hkexnews.hk/listedco/ ... N201302041424_C.pdf
真是預左班PK會咁做...不過用金仔,新奇

建議供股
本公司建議按於記錄日期每持有一(1) 股股份供四(4) 股供股股份之基準,透過供
股以認購價每股供股股份0.07 港元發行不少於6,138,200,416 股供股股份及不超過
7,365,996,744 股供股股份予合資格股東,籌集所得款項總額不少於約429,670,000 港
元及不多於約515,620,000 港元。
供股之估計所得款項淨額將不少於約408,670,000 港元及不多於約494,620,000 港元,
本公司擬用作建成其多晶硅業務所需回收廠房及設施,以及償還部分信貸額度。
...
佣金: 最高包銷股份數目之總認購價之3%
...
進行供股之理由及所得款項用途
本集團主要從事在台灣製造太陽能級多晶硅、證券投資及買賣、提供融資、物業投資,
以及製造及銷售照相及多媒體產品配件業務。自二零一二年九月三十日起,本集團各業
務分類並無重大變動。
誠如本公司於截至二零一二年九月三十日止期間之中期報告所披露,本集團於二零一一
年完成收購Sun Mass 集團前,曾計劃於多晶硅商業生產開始後興建及建成回收設施,而
回收設施之資本承擔將以商業生產產生之現金流量撥付。於二零一二年四月,改善生產
廠房之熱分解能力後,山陽科技能夠使用商業生產線以生產多晶硅樣本。在投入正式商
業生產前需要加快進一步提升其生產設施,理由包括倘在未提升生產設施前進行生產,
於颱風季節高峰期內累積大量氫氟酸可能引起環境污染之風險。因此,本集團現須先提
升其生產設施,方展開正式大規模生產。
本集團預期完成提升其生產設施之分解及回收╱再生能力及按計劃投產後,便會將同一
模式套用至其他五個生產廠房之建設。
本集團多晶硅業務之業務最新消息之進一步詳情載於本公司截至二零一二年九月三十日
止期間之中期報告第37 至50 頁。
本公司現時無意更改其業務策略,而各業務分類之資金撥付情況將以其本身之日後發展
為基礎。
於本公佈日期,本公司現時並無有關任何收購、業務合作或任何出售、縮減及╱或終止
其現有業務之磋商、協議、安排及承諾。然而,倘及於日後機會出現時,本公司將採取
一切必要步驟以持續經營本集團之業務,包括就其業務尋求策略性投資者及夥伴以減少
其債務水平及增加其營運資金,本公司亦將考慮符合股東利益之任何機會。

董事會於達致供股前已考慮之因素:
本集團可動用之現有財務資源
在達致供股時,本公司已考慮本集團可動用之財務資源。於二零一二年十二月三十一
日,本集團之未經審核現金結餘約為37,900,000 港元。於本公佈日期,本集團並無任何
可提取之融資。
本集團之營運資金需求變動
於第二份非常重大收購事項通函日期,董事相信本集團未來十二個月(自第二份非常重
大收購事項通函日期起計)之營運將倚賴(其中包括)(i) 可動用之內部財務資源、(ii) 當時
之現有孖展信貸、(iii) 備用額度,及(iv) 山陽科技之經營活動預期產生之現金流量。
然而,基於以下原因,營運資金需求已變動:
(a) 備用額度已屆滿
根據備用額度協議之條款,備用額度已於二零一三年一月三日屆滿。
(b) 延遲商業生產影響本集團之現金流量預測
誠如上文所述,商業生產未能於提升生產及回收廠房及設施前展開。
由於多晶硅之商業生產延遲而影響本集團之現金流量預測,董事認為有迫切需要加
快提升本集團生產設施之回收廠,以應付釋出之大量氫氟酸。
除上文所披露者外,本集團之營運資金需求自二零一二年九月三十日(即本集團最
近刊發截至二零一二年九月三十日止六個月之未經審核財務報表之年結日)起並無
其他重大變動。

以下載列自二零一二年九月三十日以來之本公司主要現金流入及流出項目:
概約
百萬港元
於二零一二年九月三十日之未經審核現金及銀行結餘31.0
加:
中南証券財務有限公司之無抵押貸款(附註1) 60.0
行使購股權計劃項下購股權之所得款項(附註2) 5.8
出售證券及投資之所得款項34.6
根據一般授權配售68,501,684 股新股份之所得款項(附註3) 11.1
提取信貸額度415.0
小計557.5
減:
贖回代價債券(附註4) 399.0
支付代價債券之利息9.5
支付中南証券財務有限公司之有抵押貸款之利息0.6
有關信貸額度之文件費3.1
償還無抵押貸款 — 中南証券財務有限公司35.0
建成回收廠房之資本支出50.0
本集團多晶硅業務之營運資金8.5
貸款分期還款(本金加利息) 1.8
專業費用6.6
薪酬 — 本公司4.1
其他1.4
於二零一二年十二月三十一日之未經審核現金及銀行結餘37.9
附註:
1. 應付中南証券財務有限公司本金總額最多100,000,000 港元、按每月利率1%計息,並於二零
一三年一月到期之無抵押貸款融資。

2. 誠如日期為二零一二年十月五日之公佈所披露,本公司根據購股權計劃按行使價每股0.204
港元向若干合資格參與者提呈授出合共28,540,000 份可認購本公司股本中每股0.01 港元之新
普通股之購股權。該28,540,000 份購股權已於二零一二年十月九日獲悉數行使。
3. 誠如日期為二零一二年十一月八日之公佈所披露,本公司訂立配售協議,據此,配售代理
已有條件地同意按悉數包銷基準根據本公司之一般授權以每股0.17 港元之價格配售合共
68,501,684 股每股0.01 港元之新普通股予不少於六名承配人。配售事項之所得款項淨額約為
11,100,000 港元。
此外,以下載列自二零一二年十二月三十一日至本公佈日期之主要現金流項目:
概約
百萬港元
(i) 可換股債券之利息付款(35.7)
(ii) 代價債券之利息付款(5.8)
(iii) 贖回部分代價債券(29.0)
(iv) 進一步提取信貸額度85.0

融資形式選擇
本集團流動資金緊絀,本公司正發掘若干股權集資、發行新票據及出售資產及投資組合
等不同渠道以尋找新資金。同時,本公司亦公佈修改可換股債券之條款。本公司首次於
二零一二年七月十七日公佈其供股意向,由於進行供股之過程較預期有所延長,本公司
與包銷商最終於二零一三年二月四日訂立包銷協議。

董事已考慮銀行融資,且鑒於額外融資成本及控股股東之證券抵押品需要之影響,董事
已決定不進行銀行融資。更重要的是,董事會認為尋求相當於應付本公司資金需要所需
金額之銀行借貸並不實際及不可行,尤其是鑒於本公司之現行財務狀況,及借入資金將
用作並無確定往績記錄之本公司新業務分類。
董事相信,透過長期權益為本公司之增長提供資金實屬審慎之舉。供股將向全體股東提
供同等機會增加其對本公司前景之權益。鑒於當前市場環境及經衡量其他選擇之優劣,
董事得出結論認為供股為本公司集資之最佳方法。

因此,董事認為彼等在考慮供股之公平性及合理性時已履行其受信責任及技能、謹慎及
勤勉責任。
...
減少融資成本及資本負債
本公司於收購Sun Mass 完成後之債務權益比率及融資成本均高於二零一一年,現正積極
減少兩者。本公司密切監察其日常運作,務求透過節省成本提升其效率及日常業務之現
金結餘。

以下載列於二零一三年一月三十一日之債務資料及與債務有關之融資成本之比較:
描述
貸款人
身份
於二零一三年
一月三十一日
概約未償還本金額年期到期日
概約年
利率
根據本金
餘額應付之
概約基本年息
(附註1)
利息
償還
安排
代價債券(附註2) 代價債券
持有人
890,000,000
港元
2年二零一四年
一月四日
2.5% 22,250,000
港元
每季
可換股債券(附註3) 可換股債
券持有人
1,200,000,000
港元
3年二零一四年
七月十四日
5.0% 60,000,000
港元
每半年
信貸額度中南証券
財務有限
公司
500,000,000
港元
2年二零一四年
十一月
二十一日
10.25%
(相等於
最優惠
利率加
5%)
51,250,000
港元

每月
銀行借貸銀行及
金融機構
42,700,000港元
(相等於新台幣
160,000,000元)
(附註4)
10年二零二三年
二月三日
1.8% 770,000港元
(相等於新台幣
2,900,000元)
(附註4)
每月
合計2,632,700,000港元134,270,000港元
附註:
1. 應付利息根據截至二零一三年一月三十一日之相似法及未償還本金估計;
2. 代價債券之到期日為發行代價債券之第二週年或倘本公司酌情選擇延長代價債券之期限,則為
發行代價債券之第七(7)週年當日,其後之利息按未償還代價債券之本金額以年利率12.5%每日
累計;

3. 於二零一二年十二月三日,本公司與可換股債券之各債券持有人訂立修訂契約,以修訂可換股
債券之若干條款及條件,修訂契約於二零一三年一月十八日經股東批准。修訂契約之進一步詳
情載於本公司日期為二零一二年十二月三十一日之通函;及
4. 以新台幣計值之負債之本金額已按約1 港元=3.75 新台幣兌換為港元。
本集團於二零一二年九月三十日之虧絀總額約為1,101,300,000 港元(於二零一二年三月
三十一日:本集團之權益總額約為1,231,200,000 港元)。按本集團債務總額(計息之銀行
及其他借貸加可換股債券及代價債券)除以股東資金計算之資本負債比率約為(211.2%)
(於二零一二年三月三十一日:約193.7%)。鑒於與信貸額度有關之融資成本高,董事
認為儘管信貸額度至二零一四年方會到期,惟償還部分信貸額度符合本公司之利益。

董事於本公司刊發第二份非常重大收購事項通函時已知悉利息負擔及資本負債惡化。於
第二份非常重大收購事項通函刊發時,董事信納利息負擔及資本負債之影響屬可接受。
然而,加上本集團截至二零一二年九月三十日止期間之虧損淨額狀況及延遲本公司之多
晶硅商業生產,董事認為本公司在信貸額度於二零一四年到期前繼續承擔與信貸額度有
關之高融資成本對本公司不利。
本公司將主要依賴多晶硅業務於商業投產後所產生之超額現金流量,以撥付償還未償還
債務。
鑒於多晶硅之商業生產在所需的提升工作及建設回收設施完成前無法展開,本公司現時
尚未能估計生產多晶硅所產生現金流量之可靠金額。然而,山陽科技已為由獨立估值
師為二零一二年中期業績進行之減值測試編製估計現金流量。除於二零一二年十二月
二十四日寄發之本公司中期報告所披露者外,已披露編製基準。自二零一二年中期報告
刊發至本公佈日期,所披露之資料並無重大變動。
即使商業生產會於短期內展開,本公司估計多晶硅業務所產生之超額現金流量金額可能
仍低於到期前撥付償還所有未償還債務之所需總額。此乃由於債務即將到期及延遲商業
投產,本公司將未能自多晶硅業務產生現金流量。於本公佈日期,本公司預期債務到期
前多晶硅業務可產生之現金總額為零。因此,本公司相信,發掘其他融資方法為必要,
包括進行進一步股本集資,以籌集資金撥付償還債務。

所得款項淨額之應用
供股之估計所得款項淨額將約為408,670,000 港元(假設於記錄日期或之前並無進一步發
行新股份),其中約149,700,000 港元(相當於供股之所得款項淨額約36.63%),將用作興
建第二份非常重大收購事項通函所披露之回收廠房及設施,而餘下部分約258,970,000
港元(相當於供股之所得款項淨額約63.37%),將用作償還部分信貸額度。


假設於記錄日期或之前發行授權獲批准及悉數動用,尚未行使購股權獲悉數行使以及
並無進一步發行新股份,供股之估計所得款項淨額將約為494,620,000 港元,其中約
149,700,000 港元將用作興建回收廠房及設施,而餘下部分約344,920,000 港元將用作償
還部分信貸額度,兩者分別佔供股之所得款項淨額約30.27%及69.73%。
供股之所得款項淨額之應用概況如下:
假設於記錄
日期或之前
並無進一步
發行新股份
假設於記錄
日期或之前
發行授權
獲批准及
悉數動用,
尚未行使購
股權獲悉數
行使以及並
無進一步發
行新股份
百萬港元百萬港元
概約概約
(A) 資本開支 — 興建回收廠房及設施(附註1)
— 應用於擴建部分之額外土木工程、一般公用設施
╱管道、生產╱管道及建築成本(附註2) 53.50 53.50
— 應用於採購額外及╱或精煉工廠機械╱管道
(附註2) 96.20 96.20
(B) 償還信貸額度 258.97 344.92
總計408.67 494.62

附註:
1. 成本乃按提升廠房以按其商業設計產能運行而估計。
2. 該等涉及提升生產設施以應對第16 至17 頁「進行供股之理由及所得款項用途」一節所載之風險。
就有關興建回收廠房及設施之提升工作而言,「擴建部分之額外土木工程、一般公用設
施╱管道、生產╱管道及建築成本」覆蓋用以存放傳送氣體至生產單位,並由生產單位
傳送至本集團生產設施之回收廠之新氣體分解設施及其他配套設施之新樓宇建築成本。
建設新回收反應器以儲存及分解釋出之氫氟酸以及建設額外管道以配合回收廠之處理能
力╱儲存能力增加而需要「採購額外及╱或精煉工廠機械╱管道」。
以下載列本集團多晶硅業務自本公佈日期起計未來12 個月之資本開支計劃之概要:
提升現有廠房回收
設施之項目概約金額實際開始日期預期完成日期
(百萬港元)
土木工程39.0 二零一二年六月二零一三年三月
廠房生產機器96.2 — —
一般公用設施及相關
管道工作14.5 二零一二年七月二零一三年三月
總計149.7

購辦公室設備及工具之時間乃視乎管道工程及建設回收廠之進度而定。預期管道工程
及回收廠之建設將於二零一三年初完成。以下載列土木工程、一般公用設施及管道之時
間表,連同進度指標日期及完工百分比,以供參考:
完工百分比估計完工日期實際完工日期
1. 土木工程
10% 二零一二年六月十日二零一二年六月
35% 二零一二年八月二十日二零一二年八月
60% 二零一二年十月二十日二零一二年十月
75% 二零一二年十二月五日二零一二年十二月
90% 二零一二年十二月二十五日—
100% 二零一三年一月三十一日—
2. 一般公用設施
10% 二零一二年六月十日二零一二年七月
35% 二零一二年八月二十日二零一二年十二月
60% 二零一二年十月二十日—
75% 二零一二年十二月五日—
90% 二零一二年十二月二十五日—
100% 二零一三年一月三十一日—
3. 管道
50% 二零一三年一月十八日二零一二年十二月
100% 二零一三年二月二十二日—
於本公佈日期,本集團尚未開始其多晶硅業務之全面生產。證券買賣及放債等本集團其
他主要業務之性質為並無固定營業週期,並取決於市況。本集團製造及貿易業務之營業
週期介乎幾星期至幾個月,視乎產品規格而定。因此,本集團並無特定營業週期,因而
無法就該週期之長度作出準確估計。
資本開支約149,700,000 港元(相等於19,200,000 美元)將主要用作第二份非常重大收購
事項通函所披露之提升本公司之現有廠房,使其達致全面產能。
對本集團之現有產能以及平面圖進行之檢討反映為達到全規模生產,應對兩大重要生產
週期範疇(即分解及回收╱再生)作出迅速提升。
生產足夠四氟化硅以配合現有反應燃燒室需要更多分解爐,而本集團遵守相關環境法律
及法規則需要提升廠房之回收╱再生功能。
因此,應建設新燃氣生產及回收建築物,配備有關管道設施及設備,如材料乾燥系統、
氣體壓縮系統及洗滌器,以應付已增加之產能。
經衡量與多個融資選擇有關之成本及好處後,董事認為供股乃較可接受之選擇。因此,
董事相信以供股方式集資符合本公司之最佳利益,且現時乃最佳時機。
根據現行市況,董事相信獲得包銷商承擔供股乃屬困難。因此,誠如本公佈所披露,董
事認為包銷商支持供股已為增加本公司之股本基礎及減少本公司負債帶來機會,而透過
其他來源籌集資金並不可行或屬不適宜。

董事會亦注意到供股在參與率低之情況下產生之攤薄影響,並確認此乃供股之壞處。基
於以下理由,董事會認為供股屬公平合理,並符合本公司及獨立股東之整體利益:
(i) 相比其他股本選擇,股東獲提供同等機會參與,倘彼等選擇不承購彼等之配額亦可
受惠於未繳股款股份買賣。供股之主要條款符合香港按悉數包銷基準進行之供股所
普遍採納者。
(ii) 攤薄影響不應獨立考慮,而應比對供股對本公司及其股東整體之潛在利益(載於本
公佈「進行供股之理由及所得款項用途」一節)作出評估。
(iii) 配售股份等其他股本集資選擇將同樣地對股東之持股量造成重大攤薄影響。

經衡量各項選擇之優劣,董事得出結論認為,鑒於現行市場環境,供股乃本公司集資之
最佳方法。
除供股及票據配售事項外,本公司將繼續尋求可動用財務資源,包括為其業務進行進一
步集資活動及╱或尋求策略投資者及夥伴,以減少其債務水平及增加其營運資金。
供股之所得款項之擬定用途乃經董事審慎周詳考慮後達致。董事認為所得款項之擬定用
途具體明確且具有靈活性,可按所擬定者為本公司所動用。供股為各合資格股東提供機
會可認購及維持彼於本公司之權益比例。此外,本公司相信,供股將加強其資本基礎及
財務狀況。
本集團各業務分類於未來12 個月之營運資金需要
除多晶硅業務外,本集團之主要業務分類均已成熟,而之前應用作業務經營之財務資源
足以滿足未來十二個月現有活動水平之營運資金需要。此外,概無計劃於可見將來擴展
該等業務分類之活動規模。
以下載列各業務分類於未來十二個月之營運資金需求:
貸款融資及投資分類
貸款融資及投資分類之活動現時均不及以往活躍。事實上,本公司於二零一二年第一季
已開始變賣其證券投資及償還其應收貸款。本公司並無計劃向其貸款融資及投資分類注
入額外營運資金,兩個分類乃及將以已投放之營運資金撥付。於本公佈日期,本集團並
無未償還之應收貸款及投資。
物業投資分類
物業投資收入由兩份與第三方簽訂之租賃協議作抵押,協議年期介乎兩年至五年。現
時,物業投資分類之營運由其物業投資組合所產生之租金收入提供資金。
由於出售一間本公司全資附屬公司已於二零一三年一月八日完成,故本公司已與現任業
主訂立新租賃協議。根據本公司作出之初步評估,自本公佈日期起計未來12 個月用作物
業投資業務之估計額外營運資金約為2,500,000 港元,其將以信貸額度及╱或其他集資
活動所得款項清償。
製造及銷售照相及多媒體產品配件分類
製造及銷售照相及多媒體產品配件分類足以產生足夠現金以為其本身業務提供資金。此
外,此分類已於過去兩年維持平均現金結餘約10,000,000 港元。因此,本公司相信,其
自行產生之資金將足以支持此業務由本公佈日期起計未來十二個月之營運。
就資本開支而言,此分類之生產廠房全部均位於中國,且營運設備齊全。因此,預期自
本公佈日期起計未來十二個月將不會產生重大資本開支。
多晶硅分類
按現有廠房規模及過去十二個月每月產生之成本計算,多晶硅業務日常營運所需之營
運資金(如行政開支,包括員工成本)約為每月2,800,000 港元。根據本公司之初步分析
(假設概無進一步資本開支需要及概不會產生收入),本公司將需要額外營運資金為數約
33,600,000 港元以自本公佈日期起計未來十二個月維持多晶硅業務之日常營運。額外營
運資金將自信貸額度及╱或其他集資活動所得款項分配。
其他分類(包括未分配企業開支)
根據本公司截至二零一二年三月三十一日止年度之經審核賬目,每月之平均經營成本
(不包括收購Sun Mass 之法律及專業開支,以及非現金流量項目如證券公平值變動、債
務利息開支之折舊及攤銷)約達2,500,000 港元,當中約1,100,000 港元乃歸屬於員工成
本。此外,自本公佈日期起計未來十二個月之利息付款總額約為134,300,000 港元。所
需營運資金總額約為200,400,000 港元,其將由信貸額度及╱或其他集資活動所得款項
涵蓋。
應用於該等分類之現有內部資金來源乃自本集團之現金及銀行結餘及信貸額度。於本公
佈日期,本集團之現金結餘約為40,600,000 港元。
總括而言,就未來十二個月之營運資金總額需求(並非計劃以供股之所得款項涵蓋)約為
200,400,000 港元,其乃以本公司之現有財務資源及╱或信貸額度及╱或其他集資活動所
得款項清償。

延遲多晶硅之商業生產之主要事件概要
以下所載為自刊發第一份非常重大收購事項通函至刊發第二份非常重大收購事項通函期
間,導致本集團多晶硅商業生產有所延誤之主要事件及發展之概要:
日期事項╱發展
二零一一年五月二十日刊發第一份非常重大收購事項通函
二零一一年第一季末至
第三季
持續於二零一一年三月二十八日為新第二代分解爐進行
氟硅酸鈉分解測試,結果反映爐具之供應系統因過程中
供應管道經常阻塞而未能完全分解氟硅酸鈉。阻塞後經
常維修,引至效率降低,本公司於二零一一年第二季及
第三季期間一直尋求方法解決問題。
二零一一年十一月整月本公司開始持續重新評估產生四氟化硅之氟硅酸鈉分解
爐之效率。本公司決定重新設計爐具,而新第三代爐具
於二零一一年九月十五日付運。新設計與舊系統完全不
同,並解決了物料供應問題。爐具於二零一一年十月開
始使用,較第二代設計改善了整體效率。然而,於測試
期間發現爐具強度不足處理達致四氟化硅濃度80%所需
之壓力水平。
二零一一年十二月爐具賣方完成廣泛改善工作,惟現有第三代爐具設計之
壓力相關問題仍未能解決。吳博士及其團隊要求更多時
間進行新第四代設計。
二零一一年十二月董事議決接納吳博士之建議,讓吳博士有更多時間優化
分解過程,以達致四氟化硅之80%目標濃度水平。
二零一一年十二月十九日刊發第二份非常重大收購事項通函
60 : GS(14)@2013-02-04 22:00:52

學到野
61 : greatsoup38(830)@2013-02-23 14:09:55

http://www.hkexnews.hk/listedco/ ... TN20130222561_C.pdf
配售3億股每股10仙,看來為造票做準備
62 : greatsoup38(830)@2013-04-12 00:15:48

136把太陽能業務賣少少畀474,你唔悶我都悶啦
63 : GS(14)@2013-04-12 01:21:38

136向273借2,500萬,每月1.5%息
64 : fin_freedom(6594)@2013-04-12 12:14:07

俾136買"資產"?
65 : greatsoup38(830)@2013-04-13 12:46:33

64樓提及
俾136買"資產"?


136唔是買,是賣
66 : greatsoup38(830)@2013-04-13 13:40:55

前幾日再賣1227,唉
67 : 0o4(31752)@2013-04-13 17:25:56

做咩唉?
68 : GS(14)@2013-04-13 17:26:31

67樓提及
做咩唉?


好無聊
69 : greatsoup38(830)@2013-04-20 12:28:47

買唔成
70 : greatsoup38(830)@2013-04-20 12:32:10

136版本
71 : greatsoup38(830)@2013-05-21 12:37:31

有基金仲中老千計
72 : greatsoup38(830)@2013-06-07 00:22:26

136
73 : GS(14)@2013-06-08 14:43:56

474 買 136 股,not suprise
訂約方: 買方,本公司之直接全資附屬公司
中南證券有限公司,買方之經紀
74 : GS(14)@2013-06-29 13:58:04

又是騙局
75 : GS(14)@2013-06-29 14:19:25

136
虧損增50%,至4.5億,負資產重債爛殼
76 : GS(14)@2013-06-30 16:11:40

136
77 : GS(14)@2013-06-30 16:12:47

136
虧損增66%,至5億,負資產重債
78 : GS(14)@2013-07-22 22:58:49

136 同海潤合作
79 : GS(14)@2013-08-02 12:06:36

136 唉
80 : greatsoup38(830)@2013-10-24 23:39:11

哈哈哈
81 : GS(14)@2013-10-28 23:54:11

無晒
82 : greatsoup38(830)@2013-11-09 19:20:17

配12.5億股@8.5仙
83 : greatsoup38(830)@2013-11-09 19:20:41

哈哈哈
84 : GS(14)@2013-11-11 22:13:46

降低債券利息
85 : greatsoup38(830)@2013-11-19 00:38:29

136
86 : greatsoup38(830)@2013-11-30 18:07:57

136
虧損降50%,至1.2億,負資產重債
87 : greatsoup38(830)@2014-02-08 14:11:44

汪汪做主席
88 : greatsoup38(830)@2014-02-11 00:04:51

汪汪都有股
89 : GS(14)@2014-06-01 19:35:13

盈警
90 : GS(14)@2014-06-03 22:48:13

136
91 : GS(14)@2014-06-17 02:11:29

136
92 : GS(14)@2014-06-17 02:12:24

哈哈
93 : GS(14)@2014-06-17 02:12:37

購股權無埋
94 : GS(14)@2014-06-28 12:32:11

136

虧損降5成,至2.1億,負資產重債
95 : trader(30981)@2014-07-26 18:04:55

請問有無朋友有華富湯同仁那篇136的文章?
96 : greatsoup38(830)@2014-07-26 18:14:30

有版權唔貼得的
97 : GS(14)@2014-09-12 01:31:28

配售847,015,679股@9仙,自己人做
98 : GS(14)@2014-11-13 09:17:30

profit warning
99 : GS(14)@2014-12-03 12:43:23

虧損降83%,至2,000萬,負資產重債
100 : GS(14)@2015-01-08 15:59:00

http://webb-site.com/articles/CNN.asp
華匯系的互相關係:474
412
273
279
1141
985
279
329
139
1227
1004
913
136
101 : GS(14)@2015-05-02 00:58:22

friend
102 : GS(14)@2015-06-23 12:15:04

3333 and 700 入股
103 : GS(14)@2015-06-26 00:12:57

虧損降62%,至7,500萬,負資產重債
104 : greatsoup38(830)@2015-08-01 23:58:27

3333 及 700 認購新股
105 : GS(14)@2015-08-02 13:50:28

http://www.mpfinance.com/htm/finance/20150801/news/ec_ecm1.htm
馬斯葛做社區網絡
  2015年8月1日

【明報專訊】停牌近兩個月的馬斯葛(0136),落實引入騰訊(0700)及恒大地產(3333)為股東。後兩者將認購馬斯葛新股,分別佔擴大後股本25%及50%,按例會提出全面收購。每股認購價0.61仙,較停牌前每股0.285元折讓97.9%。馬斯葛據此發行1084.6億股,倘五年期認股證獲行使,最終將新股數目增至1230.6億股,集資6.6億至7.5億元,今年9月起12個月內用作開發互聯網社區服務網上平台(ICS)。

馬斯葛引入新股東後,會開始進行ICS首階段發展,先以恒大社區為首批用戶,之後再擴展到其他中國住宅社區。公司將撥款2.56億元,用於研發ICS及相關技術、聘請300名專業人士、薪酬及研發開支,當中包括採購停車場管理及導航系統,甚至電子商務軟件。

該集團在恒大社區內實施ICS平台及推廣,將動用約1.73億元;另擬投資1.91億元發展所需電腦、雲計算中心等配套基礎設施;餘額用於投資及收購服務供應商和營運資金。該公司又建議每股拆細為10股,再按每2股合併為1股,並且申請於下周一復牌買賣。

106 : greatsoup38(830)@2015-08-05 12:40:45

http://www.mpfinance.com/htm/finance/20150805/news/ec_eck1.htm
民眾金服沽馬斯葛套3.5億 料為先「收取」部分殼價
  2015年8月5日

【明報專訊】獲騰訊控股(0700)及恒大(3333)攜手入股的細價股馬斯葛(0136),周一(3日)復牌後股價爆升超七成,惟原主要股東之一、被獨立股評人David Webb歸類為「中南網絡」的民眾金服(0279,前稱民豐企業),當日卻疑在場外以低價狂沽約23.5億股,套現逾3.5億元。有市場人士估計,原股東低價售股或是先收取部分殼價有關。

明報記者 鄧偉忠

據證監會股權資料披露,民眾金服於周一以每股0.15元,大手沽出23.5億股馬斯葛股份,完成出售後,民眾金服仍持有約23.6億股,按馬斯葛昨日收市價0.5元計,市值高達11.8億元。惟翻查當日場內成交紀錄,最低成交價亦高達0.46元,意味交易或在場外完成。

騰訊恒大攤薄原大股東股份

馬斯葛於上周五(7月31日)公布,獲騰訊及恒大聯手入股,以每股0.0061元認購逾百億新股,合共相當於擴大後股本約75%(見表),原有大股東民眾金服、VMS及中南融資攤薄至各持約3%,其中民眾金服與中南融資,均與被戲稱為「細價股玩家」的股壇活躍人士莊友堅關係密切。

周一復牌後升72%

馬斯葛周一復牌股價狂升72%,昨日仍微升2%。有不具名本地基金經理認為,民眾金服目前仍持有馬斯葛市值逾11億元股份,估計復牌首日狂沽套現目的是先取回「殼價」,其餘股份則繼續持有,等待騰訊恒大有所動作後,才再作處置。

賣殼交易藉發行新股套現

另有中資投行高層稱,近年不少賣殼交易改以發行新股形式進行,新投資者旨在增加股本方便日後注入資產,至於原有大股東則可以透過多種形式套現,其中包括在完成交易後直接在場內沽貨套現,由於原大股東持股可能已攤薄至低於5%以下,故市場不易發現。他又指,由於復牌後股價高低「無保證」,因此過去有部分個案,新投資者會預先安排「接貨人」,協助原大股東套現。

107 : greatsoup38(830)@2015-08-08 00:35:45

279 減持投資, 還剩下136
108 : GS(14)@2015-09-20 00:12:13

改為恒騰網絡集團
109 : GS(14)@2015-09-21 01:23:48

好作品
110 : greatsoup38(830)@2015-11-18 01:41:41

change name to 恒騰網絡集團
111 : greatsoup38(830)@2015-11-30 00:11:57

改名恆騰網絡,虧損增8倍,至1.9億,重債
112 : greatsoup38(830)@2015-12-01 02:10:48

http://www.mpfinance.com/htm/finance/20151128/news/ec_eci1.htm


【明報專訊】恒騰網絡(0136)8月獲恒大地產(3333)及騰訊(0700)入主,昨日管理層終於現身中期業績會,被問到公司會否獲注資,恒騰網絡兼恒大地產首席財務官謝惠華稱,恒騰網絡不一定要獲注資才能經營業務。恒騰網絡昨最多升一成,高見0.67元,收報0.61元,無升跌。

為恒大業主提供網絡服務

早前恒大地產聯同騰訊斥資7.5億元收購恒騰網絡(前名馬斯葛)75%股權,其中恒大持有55%,騰訊則持有20%。謝惠華指目前大股東持股比例不會大改變,原來管理層亦已退出,變成小股東,與兩大股東無大關係。

恒騰網絡公布截至9月底止的中期業績虧損2.17億元,去年同期純利為1794萬元。謝惠華表示,公司今後主要為內地樓盤新業主提供網上購買家具及金融產品服務,會涵蓋恒大地產樓盤,亦有意攻入其他社區,而公司會從中抽佣,相信盈利空間巨大,估計公司明年會錄得盈利,但他未有透露佣金比例與用戶人數目標等。

他又提到,公司明年用於研發的資本開支將介乎2億至3億元,用於基建的資本開支則介乎1億至2億元,以現時現金約7億元計,現金流仍屬健康水平,暫無計劃集資如配股等。

113 : GS(14)@2016-03-29 01:51:06

虧損降6成,至2,200萬,6.9億現金
114 : GS(14)@2016-08-23 17:45:04

轉賺280萬,7.65億現金
115 : greatsoup38(830)@2016-09-15 01:01:18

轉虧1.5億,13億現金,持有6138、32、136、1031、1224、708、996、1004、1476、1051、139、279、412、985
116 : greatsoup38(830)@2016-11-21 19:24:20

what is acquiring?
117 : greatsoup38(830)@2016-11-22 01:23:59

超高價買科技野
118 : GS(14)@2017-01-24 09:13:17

laugh me die
119 : GS(14)@2017-02-20 09:39:48

正面盈利預告
120 : GS(14)@2017-03-21 18:30:47

轉盈400萬,7.8億現金
121 : GS(14)@2017-04-28 18:00:06

轉盈520萬,9.2億現金
122 : GS(14)@2017-10-27 09:39:03

業務情況更新
本集團的戰略發展方向
123 : GS(14)@2018-03-08 03:30:16

本公司董事會(「董事會」)謹此通知本公司股東及潛在投資者,根據管理層目前所得的資料,預期
本集團於截至2017年12月31日止年度錄得之未經審計淨利潤及本公司股東應分配利潤將較去年
同期大幅上升,其中未經審計淨利潤預期為去年同期約20倍。該大幅增長乃主要由於互聯網社區
家居業務的迅猛發展,家居業務服務的社區數量大幅增長及新發展的互聯網材料物流業務之貢
獻。
124 : GS(14)@2018-06-15 07:29:10


馬斯 0136 專區 關係 華匯 匯、 、詹 詹培 培忠 忠、 、廖 廖駿 駿倫 倫、 、鼎 鼎珮 珮、 Penta 0273 0622 0913 1141 2324
PermaLink: https://articles.zkiz.com/?id=272642

金至尊(0870,前恆豐金業)專區(關係:2882、0901、2324、華匯、霍英東)

1 : GS(14)@2011-05-16 22:17:29

http://www.hkexnews.hk/listedco/ ... TN20090208008_C.pdf
http://www.hkexnews.hk/listedco/listconews/sehk/20090423/LTN20090423621_C.pdf
重組計劃
2 : GS(14)@2011-05-16 22:19:00

http://www.hkexnews.hk/listedco/ ... TN20110516462_C.pdf
901又想重組870,華匯第18間分店,好團購feel

萊 福 資 本 投 資 有 限 公 司(「本 公 司」)( 作 為 一 名 擔 保 人 )及 其 附 屬 公 司Winning Point Limited(「Winning Point」)( 作 為 一 名 投 資 者 )已 於 二 零 一 一 年 五 月 十 六 日 與( 其中 包 括 )金 至 尊 珠 寶 控 股 有 限 公 司( 一 間 於 聯 交 所 上 市 之 公 司 )( 前 稱 恒 豐 金 業 科 技 有限 公 司 )( 股 份 代 號:870)(「金 至 尊」)及 金 至 尊 之 共 同 及 各 別 臨 時 清 盤 人(「臨 時 清 盤人」)何 熹 達 先 生、楊 磊 明 先 生 及 程 華 邦 先 生 訂 立 專 有 及 託 管 協 議(「託 管 協 議」)。

根 據託 管 協 議,於Winning Point及 另 一 名 投 資 者( 統 稱「該 等 投 資 者」)分 階 段 及 等 額 支 付 合共20,000,000港 元( 其 中5,000,000港 元 為 不 可 退 還 並 須 於 簽 訂 託 管 協 議 時 支 付 )之 誠 意 金後,該 等 投 資 者 獲 賦 予 專 有 權,可 於 直 至 二 零 一 一 年 十 二 月 三 十 一 日 與 金 至 尊 及 臨 時 清盤 人 就 透 過 認 購 金 至 尊 新 股 份(「認 購 事 項」)而 投 資 於 金 至 尊( 可 能 會 構 成 金 至 尊 之 復牌建議之一部份)進行磋商。誠如金至尊所宣佈,金至尊現時正處於聯交所除牌之第三階段,並 且 一 份 可 行 復 牌 建 議 已 於 二 零 一 一 年 五 月 十 六 日 呈 交 予 聯 交 所。

...
受進一步磋商結果及上市規則及╱或本公司組織章程細則對本公司施加之任何投資限制( 於 認 購 事 項 完 成 後 不 超 過 金 至 尊 經 擴 大 股 本 之30%及 本 公 司 資 產 淨 值 之20%)所 規 限,各 該 等 投 資 者 擬 透 過 認 購 事 項( 將 不 超 過 金 至 尊 經 擴 大 股 本 之30%)向 金 至 尊 投 資 不 超過60,000,000港 元 之 總 金 額。
3 : GS(14)@2011-05-18 00:25:27

http://www.hkexnews.hk/listedco/ ... TN20110516472_C.pdf
本公告乃根據香港聯合交易所有限公司(「聯交所」) 證券上市規則 (「上市規則」)第13.09條規定而作出。首都創投有限公司 (「本公司」) (作為擔保人) 及其附屬公司 Huge Energy Holdings Limited (「Huge Energy」) (作為投資者),與金至尊珠寶控股有限公司 (「金至尊」) (於聯交所上市,前稱恆豐金業科技有限公司,股份代
號:870) 及金至尊的共同及各別臨時清盤人(「臨時清盤人」) 何熹達先生、楊磊明先生及程華邦先生,於二零一一年五月十六日簽訂一份專有及託管協議 (「託管協議」)。
4 : Wilbur(1931)@2011-05-18 09:08:10

我變相成為華匯系投資者

叫我宜後點見人... smiley

快d復牌,我收番1蚊當賺10蚊...
5 : GS(14)@2011-05-18 21:04:47

4樓提及
我變相成為華匯系投資者

叫我宜後點見人... smiley

快d復牌,我收番1蚊當賺10蚊...


上次救885的時候勁升10倍wor...
6 : Wilbur(1931)@2011-05-18 21:32:45

5樓提及
4樓提及
我變相成為華匯系投資者 叫我宜後點見人... smiley 快d復牌,我收番1蚊當賺10蚊...
上次救885的時候勁升10倍wor...


望係咁望

我揸住50K股

一晃眼就3年...
7 : GS(14)@2011-05-18 21:48:45

6樓提及
5樓提及
4樓提及
我變相成為華匯系投資者 叫我宜後點見人... smiley 快d復牌,我收番1蚊當賺10蚊...
上次救885的時候勁升10倍wor...


望係咁望

我揸住50K股

一晃眼就3年...


現在就是有當年的感覺,日日輸
8 : GS(14)@2011-05-18 22:02:59

http://www.hkexnews.hk/listedco/ ... TN20110516472_C.pdf
睇來2324投入最多,901次之,2882最少
9 : GS(14)@2011-05-18 22:10:34

http://www.hkexnews.hk/listedco/ ... TN20110518551_C.pdf
團購殼股
10 : Wilbur(1931)@2011-08-03 12:45:54

928都就黎得

870就冇聲冇氣

仲連續2個月冇update
11 : GS(14)@2011-08-03 21:10:26

10樓提及
928都就黎得

870就冇聲冇氣

仲連續2個月冇update


928都搞了兩年幾也,870都差唔多三年都有
12 : Wilbur(1931)@2011-08-15 18:03:52

命懸一線
http://www.hkexnews.hk/listedco/listconews/sehk/20110815/LTN20110815441_C.pdf
13 : Sunny^_^(11601)@2011-08-15 18:54:46

我見佢仲有做生意喎.現金流應該好左好多先係嫁.點解仲未得既??
14 : Wilbur(1931)@2011-08-15 19:13:55

13樓提及
我見佢仲有做生意喎.現金流應該好左好多先係嫁.點解仲未得既??


做緊生意個金至尊已經唔係870金至尊一部份... smiley
15 : Sunny^_^(11601)@2011-08-15 19:17:15

14樓提及
13樓提及
我見佢仲有做生意喎.現金流應該好左好多先係嫁.點解仲未得既??


做緊生意個金至尊已經唔係870金至尊一部份... smiley


元來...係咁
16 : Clark0713(1453)@2012-07-07 10:52:38

Sorry, brothers are going to be disappointed.....

取消上市地位

http://www.hkexnews.hk/listedco/ ... TN20120706619_C.pdf





港交所:下周一起取消金至尊<00870.HK>上市地位
2012-07-06 18:03:15
Twitter    分享    電郵    列印   
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港交所宣布,由2012年7月9日上午9時起,金至尊珠寶控股<00870.HK>股份的上市地位即予以取消。

該公司股份由2008年9月30日起停牌。因此,該公司的股份實際上已暫停買賣超過了三年零九個月。(ad/u)


阿思達克財經新聞
傳真: 852 2186 8286
電郵: newsroom@aastocks.com
網址: www.aastocks.com


新聞由阿斯達克提供

http://www.aastocks.com/tc/News/HK6/NOW.496317.html
17 : Clark0713(1453)@2012-07-07 10:53:11

監管者發出的公告及消息
關於按照《上市規則》第17項應用指引取消金至尊珠寶控股有限公司(已委任臨時清盤人)上市地位的通告

http://www.hkexnews.hk/listedco/ ... TN20120706469_C.PDF
18 : GS(14)@2012-07-07 14:08:25

2324的錢就泡湯了
19 : GS(14)@2012-07-07 14:08:34

聯交所宣布,由2012年7月9日上午9時起,該公司股份的上市地位將按照《上市規則》第17項應用指引的除牌程序(除牌程序)予以取消。第17項應用指引正式訂明了聯交所將長期停牌公司除牌的程序。
該公司股份由2008年9月30日起停牌。因此,該公司的股份實際上已暫停買賣超過了三年零九個月。
該公司自2010年12月1日起已處於除牌程序的第三階段。根據除牌程序,倘該公司於第三階段屆滿時仍無提交可行的復牌建議,聯交所將會取消該公司股份的上市地位。第三階段已於2011年5月31日屆滿,但該公司並未有提供可行的復牌建議,證明其有足夠的業務運作或相當價值的資產以符合《上市規則》第13.24條的規定。因此,聯交所將取消該公司股份的上市地位。
聯交所已通知該公司,其須根據《上市規則》第17項應用指引第3.1段,於本通告發出的同一日刊發公告,向公眾交代其股份的上市地位被取消一事。
聯交所建議該公司股東如對該公司除牌的影響有任何疑問,應徵詢適當的專業意見。
20 : Wilbur(1931)@2012-07-07 15:40:55

炒股多年第1次換到牆紙...
21 : GS(14)@2012-07-07 15:46:52

20樓提及
炒股多年第1次換到牆紙...


可唔可以隱名影張牆紙?
22 : GS(14)@2012-07-07 18:39:49

http://www.hkexnews.hk/listedco/ ... TN20120706622_C.pdf
901

根據託管協議,本公司之附屬公司Winning Point已於簽訂託管協議時支付不可退還誠意
金2,500,000港元。本公司謹此知會本公司股東,由於聯交所宣佈金至尊將自二零一二年
七月九日上午九時正起除牌,故將不會進行認購事項及實施有關金至尊之復牌建議。因
此,本公司已就不可退還誠意金2,500,000港元作出減值虧損撥備。
23 : i3640(1387)@2012-07-08 14:57:13

打靶
06/07/2012   00870  恆豐金業  取消上市地位
http://www.hkexnews.hk/listedco/ ... TN20120706619_C.pdf
24 : GS(14)@2012-07-21 12:34:28

http://www.mpfinance.com/htm/Finance/20120721/News/ec_ecm1.htm
【明報專訊】本月9日正式撤銷上市地位的金至尊珠寶控股有限公司,日前聯同6間子公司,入稟控告羅兵咸永道會計師事務所(下稱羅兵咸),指羅兵咸於2006年替金至尊及子公司任核數師期間涉及違約及誤導,要求羅兵咸退回服務費及利息。

指06年處理財報時違約

原訴包括:金至尊珠寶控股有限公司、恆豐珠寶首飾有限公司、佳恆珠寶首飾有限公司、恆豐珠寶首飾(國際)有限公司、恆豐發展國際有限公司、Macadam Profits Ltd.及Soycue Ltd.。

原訴指出,當年聘請被告羅兵咸為核數師,替原訴準備2006年3月31日的財務報告,有關財務報告亦於同年7月20日由被告簽署作實。但原訴指被告在處理有關財務報告時違約、違反受信責任及疏忽誤導。
至尊 0870 恆豐 金業 專區 關係 2882 0901 2324 、華 華匯 匯、 霍英東 霍英
PermaLink: https://articles.zkiz.com/?id=274335

首都創投(2324,前德泰中華投資)專區(關係:華匯、0870、8037、8082)

1 : GS(14)@2011-05-18 21:59:23

(blank)
2 : GS(14)@2011-05-18 22:00:09

http://www.hkexnews.hk/listedco/ ... TN20100928138_C.pdf

人力資源
於二零一零年六月三十日,本集團有2名僱員(不包括董事)。總員工成本(不包括董事酬金)約705,388港元(二零零九年:1,057,714港元)。彼等在本集團擔任文職、研究、業務發展及行政等職務。本集團薪酬政策符合現行市場慣例,並按個別僱員之表現及經驗而釐定其薪酬。

2 man band,開枱麻雀都唔夠,公司點聯誼?

greatsoup:
可以猜下枚

得兩丁友....咁份annual report 邊個去做....做會計入數都要有人做ga...outsource?..呢d公司上市黎做咩,

greatsoup
這間是21章,1個做基金經理,1個做會計,夠啦..
3 : GS(14)@2011-05-18 22:02:14

http://www.hkexnews.hk/listedco/ ... N201012011258_C.pdf

2324批股

http://www.hkexnews.hk/listedco/ ... TN20110112573_C.pdf

2供1,每股0.3

見到金江大家識啦

自動波人:
金剛同忠楠,都係避一避好d
4 : GS(14)@2011-05-18 22:02:17

http://www.hkexnews.hk/listedco/ ... TN20110222404_C.pdf
業績
5 : GS(14)@2011-05-18 22:02:32

http://www.hkexnews.hk/listedco/ ... TN20110516472_C.pdf
看來投入最多是2324
6 : 拔刺者(4132)@2011-06-09 23:22:57

正興二世
7 : GS(14)@2011-06-11 09:39:43

http://www.hkexnews.hk/listedco/ ... TN20110609698_C.pdf
華匯ed... 買一間就有又多四間入袋,徐先生今次死啦...

8037、8082他們都持有超過10%股權

870重組緊
8 : greatsoup38(830)@2011-07-10 17:59:17

http://www.mmt.gov.hk/eng/rulings/SKIC.Ruling.12042011.pdf
德泰中華投資有限公司
二零一一年四月十二日財政司司長根據《證券及期貨條例》(第571章)第252(2)條及附表9向市場失當行為審裁處發出的通知
9 : GS(14)@2011-08-14 20:06:36

http://webb-site.com/articles/cvclonglife.asp
Webb哥話丘忠航的持股在意義上已超過30%,觸發要約全面收購,但他無提出
10 : GS(14)@2011-08-14 20:06:48


11 : 200(9285)@2011-08-17 20:36:50

丘忠航涉持股超法規
股壇長毛踢爆 朗力福昨停牌
2011年08月17日

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股壇長毛 David Webb近日又玩踢爆,今次對象是朗力福( 8037)、首都創投( 2324),關鍵人物則是首創大股東兼執董丘忠航。他質疑丘忠航透過私人投資,又藉朗力福及首都創投互相持股,共持朗力福和首都創投逾 30%權益,觸發全面收購而未提出,違反法規。 記者:周燕芬

受消息影響,朗力福昨停牌,稱待發佈股價敏感消息。首創收 0.31元,跌 1.6%。
David Webb列出 5大張紙,詳細道出丘忠航與朗力福和首都創投之間的關係。文章指出,首都創投早於 09年已入股朗力福,去年底朗力福亦開始於市場購入首都創投權益,有趣的事情於是開始出現。

建議證監會研全面收購
放大圖片

12345678910

按聯交所權益披露資料, Webb指, 7月底丘忠航透過首創已持朗力福 22.8%權益,加上丘忠航直接持有朗力福 7.99%權益,兩者直接共持有朗力福 30.79%權益,而早於 7月 25日更曾達 31.13%權益,他要求證監會決定丘忠航和首都創投對朗力福是否已觸及全面收購線,朗力福宜暫停買賣直至事件清晰。
而由於丘忠航直接持有首都創投 22.18%權益,朗力福則直接持有首都創投 8.92%,兩者合共持有首都創投達 31.1%,他質疑丘忠航和朗力福亦是一致行動人士。他建議證監會研究丘忠航和朗力福於首都創投是否一致行動人士,是否需要提出全面收購。由於事情或涉及兩間公司互相提全面收購,變成無意義之舉,他認為最後應由其中一家作出全面收購行動。
管理層獨立性受質疑

除股權上有密切關係外, Webb亦指出,朗力福主席張鴻,原來於 03年曾協助首都創投上市,張鴻當時為國泰君安銷售部副總裁。此外,朗力福獨立非執董陳慧殷來自首都創投持 30%權益的 CNI Bullion,任職銷售部董事,其獨立性亦受到質疑。
還有,去年 4月 9日,朗力福給予首都創投認購權,於未來 10年以每股 0.355元認購朗力福 50萬股,但卻沒有任何解釋。而兩間公司更可共用辦公室,去年 7月始一齊租用環球貿易中心( ICC) 76樓;並同時僱用鄭鄭會計師事務所,在在顯示兩間公司關係密切。

http://hk.apple.nextmedia.com/te ... 320&art_id=15531264

中南金融傑作也‧
12 : GS(14)@2011-08-17 21:02:27

CNI Bullion = 北方證券呀
13 : 200(9285)@2011-08-17 21:12:36

12樓提及
CNI Bullion = 北方證券呀=中國 北方金銀業


仲有一間金道貴金屬有限公司係fm104賣廣告‧
14 : GS(14)@2011-08-17 22:05:55

13樓提及
12樓提及
CNI Bullion = 北方證券呀=中國 北方金銀業


仲有一間金道貴金屬有限公司係fm104賣廣告‧


http://www.sfc.hk/sfcprd/eng/pr/ ... =AUE994&applNo=0001
呢間?
15 : 200(9285)@2011-08-17 22:09:07

http://24k.hk/
16 : GS(14)@2011-08-18 22:25:27

http://www.hkexnews.hk/listedco/ ... TN20110817616_C.pdf
呢班人...


(6) 由於丘先生與本公司各自於二零一一年七月二十六日至二零一一年七月二十九日 期 間 進 行 之 一 連 串 交 易(而 丘 先 生 亦 未 就 此 遞 交 披 露 權 益 通 知),截 至 二 零
一 一 年 七 月 二 十 九 日,本 公 司 持 有 朗 力 福 已 發 行 股 本 之22.75%,而 丘 先 生 持
有 朗 力 福 已 發 行 股 本 之7.06%。
(7) 基 於 前 述 因 由,直 至 本 公 司 收 到 上 述 詢 問 後,本 公 司 方 才 察 覺 到 本 公 司 與 丘先 生 於 二 零 一 一 年 六 月 十 日 至 二 零 一 一 年 七 月 二 十 八 日 期 間 於 朗 力 福 已 發 行股 本 之 總 持 股 量 超 過30%。
(8) 雖 然 根 據《收 購 守 則》,本 公 司 被 假 定 為 與 丘 先 生 一 致 行 動,惟 因 本 公 司 相 信本 公 司 可 證 實,在 所 有 關 鍵 時 刻,本 公 司 與 丘 先 生 或 其 他 人 士 並 無 任 何 協 議
或 默 契(不 論 正 式 或 非 正 式)以 通 過 購 入 朗 力 福 之 表 決 權 而 合 作 取 得 或 鞏 固 對朗 力 福 之 控 制。
(9) 因 此,本 公 司 並 不 認 為 已 出 現 對 朗 力 福 股 份 提 出 全 面 要 約 的 任 何 責 任,而 本公 司 或 丘 先 生 均 無 意 對 朗 力 福 股 份 提 出 任 何 全 面 要 約。
17 : 200(9285)@2011-08-18 22:28:23

直 至 本 公 司 收 到 上 述 詢 問 後,本 公 司 方 才 察 覺 到

( 9 U P )
18 : GS(14)@2011-08-18 22:50:21

17樓提及
直 至 本 公 司 收 到 上 述 詢 問 後,本 公 司 方 才 察 覺 到

( 9 U P )


好似當人白痴,呢班高手玩野

8037
http://www.hkexnews.hk/listedco/ ... LN20110818008_C.pdf

丘 先 生 及 首 都 創 投 其 後 已 經 向 董 事 會 確 認:
1. 於 二 零 一 一 年 六 月 十 日 至 二 零 一 一 年 七 月 二 十 八 日 期 間 內,首 都 創 投 及 丘 先生於本公司之已發行股份的累積股權達30%以上,然而,首都創投及丘先生於二 零 一 一 年 八 月 十 二 日 後 方 察 覺 該 情 況;
2. 在所有關鍵時刻,根據《收購守則》的定義,丘先生與首都創投並非一致行動;及
3. 因 此,首 都 創 投 及 丘 先 生 均 認 為 上 述 股 權 並 無 產 生 就 本 公 司 普 通 股 提 出 強 制全 面 要 約 的 任 何 責 任,而 彼 等 均 無 意 就 此 提 出 任 何 全 面 要 約。
另 外 亦 謹 此 提 述 首 都 創 投 日 期 為 二 零 一 一 年 八 月 十 七 日 的 公 告。
19 : 200(9285)@2011-08-20 01:05:13

丘忠航辭任皇朝董事被研訊
2011年08月19日

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【本報訊】首都創投( 2324)執行董事丘忠航被指涉及要對朗力福( 8037)提出全面收購後,又涉及市場失當行為而被研訊。皇朝傢俬( 1198)公佈,丘氏辭任獨立非執行董事,公告透露,市場失當行為審裁處已開始對丘氏研訊,以確定他有否從事首都創投前身,即德泰大中華的股份虛假交易和操縱證券市場等不當行為,但強調這純屬丘氏私事,與公司無關。丘氏事前也沒有向公司知會研訊一事。

朗力福復牌升近 9%

市場失當審裁處資料顯示,丘忠航於 2009年 1月 7日後,就討論德泰股份配售期間,曾於當年 1月 9日出售德泰股份,而當時出任主席的徐德強購入股份的交易,則被指涉嫌推高股價。
另外,首都創投公佈,公司與丘忠航方於今年 7月 25日分別持有 23.14%及 7.99%朗力福,合計逾 30%,兩者可能因被視為《收購守則》的「一致行動」人士,要提出全面收購一事,已獲證監會查詢跟進。不過首都創投及朗力福均強調,首都創投與丘氏並非一致行動,因此不會向朗力福提出全購。
首都創投及朗力福均指出,本月 12日證監致函詢問,才發覺首都創投及丘忠航按「一致行動」人士定義,在朗力福持股逾 30%,達全購觸發點。
但朗力福指出,首都創投及丘忠航在所有關鍵時刻並非一致行動,亦無提出全購責任,甚至毋須停牌。朗力福昨日復牌,股價扯高 8.7%,收報 0.25元。

出事了

http://hk.apple.nextmedia.com/te ... 320&art_id=15538145
20 : 拔刺者(4132)@2011-08-20 04:15:32

正式表示關注的那份
http://www.hkexnews.hk/listedco/ ... TN20110819655_C.pdf

(何時能夠將通告的webb-site.com變為zkiz.com?湯兄smiley)
21 : GS(14)@2011-08-20 07:55:27

唔知啊,但呢單野前一排都出了,舊聞當新聞真是有點...
22 : 200(9285)@2011-08-20 21:10:24

丘忠航 及 歐陽啟初 大家也是中南系內人,佢地同主持人莊先生也有共同興趣
就係養馬了,兩位係澳門有隻配售馬叫北方勇士成績唔錯有5冠2亞算有馬運了‧
23 : GS(14)@2011-08-20 21:25:54

是咩,有無馬睇?
24 : 200(9285)@2011-08-20 21:29:59

23樓提及
是咩,有無馬睇?


http://www.mjc.mo/NEWMJCPAGE/blo ... 0&blog_type=2&lang=

ready for you .
25 : GS(14)@2011-08-20 21:34:05

唔識睇馬,但是好似唔太聽話...
26 : 200(9285)@2011-08-20 21:38:22

25樓提及
唔識睇馬,但是好似唔太聽話...


好馬來的,配售馬唔係隻隻好野特別是澳門‧
27 : 拔刺者(4132)@2011-08-20 21:40:14

26樓提及
25樓提及
唔識睇馬,但是好似唔太聽話...
好馬來的,配售馬唔係隻隻好野特別是澳門‧
昨晚贏了派3.3倍
28 : 200(9285)@2011-08-20 21:46:25

27樓提及
26樓提及
25樓提及
唔識睇馬,但是好似唔太聽話...
好馬來的,配售馬唔係隻隻好野特別是澳門‧
昨晚贏了派3.3倍


丘忠航無拉頭馬
29 : 拔刺者(4132)@2011-08-20 21:47:11

c+拉一樣啫
30 : 200(9285)@2011-09-15 20:59:04

推介垃圾
http://www.hkdailynews.com.hk/finance.php?id=181240
31 : GS(14)@2011-09-15 21:00:37

沉瀣一氣
32 : 200(9285)@2011-09-15 21:00:44

司徒明慧股票牌轉左公司

但佢仲有幫中國北方做野

http://www.sfc.hk/sfcprd/eng/pr/ ... =AXI117&applNo=0002

http://www.cni-gold.com/inner_blog_detail.php?id=121


咁奇怪既
33 : GS(14)@2011-09-15 21:02:15

查下間怡安又點,好平二十幾就得
34 : 200(9285)@2011-09-15 21:05:26

沉瀣一氣???
35 : GS(14)@2011-09-15 21:13:13

你見周老師同班人的guanxi好緊密就知啦
36 : GS(14)@2011-10-01 14:07:22

叫做賺錢的
http://www.hkexnews.hk/listedco/ ... N201109301071_C.pdf
展望未來,本集團預期美國及歐洲之經濟增長將放緩。市場避險情緒升溫可能引發更大的市場不確定性,發達國家發展中國家均難倖免。即便如此,美聯儲承諾再維持兩年之低利率,此對股本投資而言實屬有利。另一利好的一面是,中國政府於近期進一步收緊當前之宏觀政策的機會似乎減低。董事將採取審慎措施以管理本集團之投資組合。
37 : greatsoup38(830)@2011-10-22 10:43:42

http://www.hkexnews.hk/listedco/ ... TN20111021126_C.pdf
邊個出假支票?

茲提述一宗最近由一名Chan Ping Yee先生 (「原告」) 在高等法院對本公司 (作為被
告) 提出的訴訟,訴訟編號為 HCA 1700/2011。訴訟理由涉及一張日期為二零一一
年五月一日,金額為39,000,000港元的未能承兌支票,原告聲稱該筆款項須向其支付
但在欲兌現該支票時遭拒兌。
本公司在徹底調查此事及就此充分諮詢過法律意見後,確信原告的索償毫無理據,
因為 (1) 所述的支票在該情況下,並不構成可執行之票據;及(2)根據匯票條例,
所述的支票在發出上述訴訟的傳訊令狀前已經註銷。

http://sdinotice.hkex.com.hk/di/ ... ee&src=MAIN&lang=ZH
同名同姓的人叫陳秉義,當年他就認購了這批8%債...

http://www.hkexnews.hk/listedco/ ... LN20060216035_C.pdf

這間Concept Capital 是否和德泰有關? 這筆錢剛好和他欠的錢差不多
http://www.hkexnews.hk/listedco/ ... LN20110621038_C.pdf
38 : greatsoup38(830)@2011-10-22 10:44:46

http://www.hkexnews.hk/listedco/ ... LN20101019002_C.pdf
原來佢都有同人一齊買了8351
39 : greatsoup38(830)@2011-10-22 10:45:01

http://sdinotice.hkex.com.hk/di/ ... ee&src=MAIN&lang=ZH
40 : GS(14)@2012-01-19 00:03:46

http://www.hkexnews.hk/listedco/ ... TN20120118664_C.pdf
茲提述首都創投有限公司 (「本公司」) 分別於二零一一年八月十九日、十二月
十二日及十二月二十九日就市場失當行為審裁處對本公司兩名執行董事的查詢
所刊發的公告 (「該等公告」)。除另有界定或文意另有所指外,本公告所用詞
彙與該等公告所界定者具有相同涵義。
本公司董事會現就該查詢的進展提供進一步資料,實質聽證會將增加兩天,即二
零一二年一月十八日及一月二十日。
本公司在需要及適當時會作進一步公告。
41 : 摘星(6904)@2012-02-26 11:57:40

http://www.hkexnews.hk/listedco/ ... TN20120224457_C.pdf

公告及通告 - [中期業績]

截至二零一一年十二月三十一日止六個月中期業績公布

截至二零一一年十二月三十一日止六個月(「本期間」),本集團錄得負數營業額
107,000,000港元(二零一零年:正數20,700,000港元)及本公司股權持有人應佔虧損
86,500,000港元(二零一零年:溢利40,500,000港元)。



本公司股權持有人應佔業績由
盈轉虧,主要由於全球投資環境不穩定。本期間之財務資產虧損淨額為111,100,000
港元,而去年同期則錄得溢利20,000,000港元。於本期間,本集團聯營公司中國北
方金銀業有限公司之表現保持理想,為本集團帶來應佔溢利30,900,000港元。
42 : traveller(1405)@2012-03-05 23:36:52

邱生又上場,佢都幾好搵
43 : 200(9285)@2012-03-15 21:13:02

中環在線:首都創投 大股東唔撈

中期業績見紅嘅首都創投( 2324),再有董事唔撈,繼舊年 11月非執行董事蕭少滔辭職之後,家就連大股東兼執行董事丘忠航都唔做董事。

人事變動頻頻

其實丘忠航同另一位董事徐德強,舊年 8月曾經因為涉嫌虛假交易、操控股價及操控證券市場三項控罪,被市場失當行為審裁處進行調查,自此之後,公司亦陸續開始出現人事變動,上星期一就重新委任咗劉大貝做董事會主席,邱恩明及張國裕就分別做執董同非執董。今次丘忠航退任,唔知係咪公司想洗底嘅先兆呢?

http://hk.apple.nextmedia.com/te ... 320&art_id=16154170
44 : GS(14)@2012-03-16 22:31:34

唉,華匯玩
45 : 200(9285)@2012-03-16 22:34:02

44樓提及
唉,華匯玩


丘忠航唔係華匯人嗎?
46 : GS(14)@2012-03-16 22:34:48

是啊,但有事
47 : 200(9285)@2012-03-16 22:39:44

46樓提及
是啊,但有事


莊先生炒q埋佢‧
48 : GS(14)@2012-03-16 22:40:15

遲D另有用途
49 : 200(9285)@2012-03-31 17:10:49

27樓提及
26樓提及
25樓提及
唔識睇馬,但是好似唔太聽話...
好馬來的,配售馬唔係隻隻好野特別是澳門‧
昨晚贏了派3.3倍


隻新馬琴晚贏了兩位也無出現‧
50 : 200(9285)@2012-04-14 13:57:33

入左的新馬也不要了‧
http://www.mjc.mo/race/info/hrs_info.php?brand_no=C204
51 : GS(14)@2012-04-14 19:34:11

Like Mr. Hui
52 : GS(14)@2012-05-03 00:35:26

http://www.hkexnews.hk/listedco/ ... N201205021788_C.pdf
買垃圾

收購事項
董事欣然宣佈,於二零一二年五月二日(交易時段後),本公司與賣方訂立買賣協
議,以收購Long Surplus之權益。本公司根據買賣協議應付之代價將以向賣方配發
及發行代價股份 (入賬列作繳足) 清償。發行代價股份須待聯交所上市委員會批准
代價股份上市及買賣後,方可作實。
根據買賣協議,本公司同意購買,而賣方亦同意出售Long Surplus之全部已發行股
本,代價為19,008,480港元,將以發行84,116,984股代價股份清償,代價股份相當
於本公司現有已發行股本約10.00%,另相當於經發行代價股份擴大之本公司已發
行股本約9.09%。
每股代價股份之發行價為0.226 港元,較股份於最後交易日期之收市價每股0.228
港元折讓約0.88%,另較股份於買賣協議日期前過去五個完整交易日之平均收市價
每股0.233港元折讓約3.00%。
..
(G) 本公司接獲且全權酌情信納由本公司所委聘之獨立專業估值師行對Go
Markets Pty Limited全部股本權益作出之估值報告指其於二零一二年四月三
十日之公平市值為不少於501,480,000港元;

...
有關LONG SURPLUS之資料
Long Surplus為一間投資控股公司,其持有247 Capital Limited之241,642股每股面值
1.00美元B類股份,相當於其全部已發行股本之3.98%。247 Capital Limited擁有Go
Markets Pty Limited之100%股本權益,該公司由二零零六年起於澳洲從事網上貿易
業務。Go Markets Pty Limited為「直通式處理」(Straight Through Processing)供應商,
專門為零售投資者提供網上外匯交易。董事已獲告知,Go Markets Pty Limited之客
戶基礎遍及全球超過120個國家,擁有逾16,000個各戶賬戶。Go Markets Pty Limited
於荷蘭亦設有歐洲支部。
據董事於作出一切合理查詢後所深知、盡悉及確信,且經Long Surplus確認,Long
Surplus及其最終實益擁有人均為獨立第三方,與本公司及本公司之關連人士概無關
連。
53 : GS(14)@2012-05-03 00:36:02

http://www.gomarketsaus.com/
54 : donaldleung0804(5940)@2012-05-09 10:43:15

小魚又推8082了!
55 : GS(14)@2012-05-09 21:26:36

正一垃圾粉皮
56 : 200(9285)@2012-05-23 23:20:19

證監會昨對首都創投(2324)及公司前董事丘忠航(圖)採取紀律行動,指兩者於去年6月增持朗力福(8037)至30.19%股權,觸發全面收購責任,但並無提出全面收購,違反《收購合併守則》。
證監向丘忠航施加冷淡對待令,禁止他直接或間接使用香港證券市場設施,為期18個月,由今日起至明年11月22日止,並公開譴責丘氏及首都創投在此事上的行為。
首都創投是一間根據聯交所《上市規則》第21章上市的投資公司,主要投資於中港上市及非上市公司,丘忠航在事發時是公司執行董事、大股東兼投資委員會成員。
證監指,在事發期間,丘氏管理兩個投資賬戶,一個屬於首都創投,另一個屬於他的個人投資,在買入朗力福股份時,他是唯一決策者。他聲稱,因計算錯誤才買入過多朗力福股份,雖然他知道需要把公司及個人於朗力福的合併持股量保持於30%以下,但無證據顯示他認真地實施有效的合規程序。丘忠航及首都創投均承認違反《收購守則》,並同意今次紀律處分行動。

http://hk.apple.nextmedia.com/financeestate/art/20120523/16360445
57 : GS(14)@2012-06-19 00:14:48

http://www.hkexnews.hk/listedco/ ... TN20120618005_C.pdf
本公告乃由本公司根據香港聯合交易所有限公司證券上市規則(「上市規則」)第13.09
條而作出。
首都創投有限公司(「本公司」)董事會(「董事會」)各董事(「董事」)謹此公佈,於
二零一二年六月十五日(交易時段後),本公司與一名獨立第三方(與本公司董事、最
高行政人員、主要股東及管理層股東或彼等各自之任何聯繫人士(定義見上市規則)
概無關連,且非與上述人士一致行動)(「獨立第三方」)訂立意向書(「意向書」)。意
向書乃有關獨立第三方認購佔本公司經擴大已發行股本不低於10%及不超過30%之新
股份,認購價有待商定(「認購事項」)
根據意向書條款,於認講事項完成時,獨立第三方及其一致行動人士將會持有本公司
經擴大發行股本不超過30%。除訂約方之保密條文外,意向書之所有其他條款均無法
律約束力。

58 : i3640(1387)@2012-07-08 16:38:50

1/復牌呢味野都可以夾份搞齊齊上?!
2/佢地系親戚檔?!

“根據託管協議,本公司之附屬公司Winning Point已於簽訂託管協議時支付不可退還誠意金2,500,000港元。”
06/07/2012   00901  萊福資本  有關金至尊珠寶控股有限公司復牌建議之託管協議之最新資料
http://www.hkexnews.hk/listedco/ ... TN20120706622_C.pdf
“根據託管協議,本公司的附屬公司Huge Energy於簽訂託管協議時已支付不可退還的誠意金2,500,000港元”
06/07/2012   02324  首都創投  有關金至尊珠寶控股有限公司復牌建議的託管協議的最新情況
http://www.hkexnews.hk/listedco/ ... TN20120706592_C.pdf
59 : greatsoup38(830)@2012-07-08 16:46:28

1. 可以,好多都是例如286

2. 都算是親戚,同一堆人
60 : kwuntl(19490)@2012-07-26 23:12:58

首都創投(HKSE:2324.HK - 新聞 - 公司資料)(前名德泰中華)大股東兼前執行董事丘忠航,以及集團執行董事徐德強,被市場失當行為審裁處裁定,違反《證券及期貨條例》有關虛假交易、操控價格及操控證券市場的罪名成立。

事發在2009年1月,首都創投於同月13日配售1.5015億股新股,配售價為0.045元,較當天停牌前收市價折讓18.2%。而於1月8日的收市價只有0.042元,股價大升原因是兩人的內幕交易所致。丘忠航於1月9日收市前20分鐘,把超過180萬股股份售予徐德強,每股介乎0.49至0.55元。(ir/a)


其實點解會係丘忠航同徐德強親自出手...? 唔搵人頭去做...?
61 : GS(14)@2012-07-27 09:56:43

60樓提及
首都創投(HKSE:2324.HK - 新聞 - 公司資料)(前名德泰中華)大股東兼前執行董事丘忠航,以及集團執行董事徐德強,被市場失當行為審裁處裁定,違反《證券及期貨條例》有關虛假交易、操控價格及操控證券市場的罪名成立。
事發在2009年1月,首都創投於同月13日配售1.5015億股新股,配售價為0.045元,較當天停牌前收市價折讓18.2%。而於1月8日的收市價只有0.042元,股價大升原因是兩人的內幕交易所致。丘忠航於1月9日收市前20分鐘,把超過180萬股股份售予徐德強,每股介乎0.49至0.55元。(ir/a)
其實點解會係丘忠航同徐德強親自出手...? 唔搵人頭去做...?


有人建議的,自己睇下份野啦
http://www.mmt.gov.hk/eng/reports/SKIC_Report_Part_I.pdf
62 : Alfred Ho(32091)@2012-08-22 14:27:09

求救入左 2324

小弟上2个星期和朋友食飯,我朋友帶左个肥仔一起到場,並說肥仔為新進財金精英.局上肥仔財金精英不斷推介隻2324.話短期内会有surprise。叫我唔好miss 左个幾会. $0.156左右買左成2球……吊,今日得反0.115….点好?
63 : GS(14)@2012-08-22 14:44:38

62樓提及
求救入左 2324
小弟上2个星期和朋友食飯,我朋友帶左个肥仔一起到場,並說肥仔為新進財金精英.局上肥仔財金精英不斷推介隻2324.話短期内会有surprise。叫我唔好miss 左个幾会. $0.156左右買左成2球……吊,今日得反0.115….点好?

斬,講完

呢個風報紙講幾百次,無句真
64 : Alfred Ho(32091)@2012-08-22 14:50:14

63樓提及
62樓提及
求救入左 2324
小弟上2个星期和朋友食飯,我朋友帶左个肥仔一起到場,並說肥仔為新進財金精英.局上肥仔財金精英不斷推介隻2324.話短期内会有surprise。叫我唔好miss 左个幾会. $0.156左右買左成2球……吊,今日得反0.115….点好?

斬,講完
呢個風報紙講幾百次,無句真



大股东要玩完?冇得等?
65 : GS(14)@2012-08-22 14:53:16

64樓提及
63樓提及
62樓提及
求救入左 2324
小弟上2个星期和朋友食飯,我朋友帶左个肥仔一起到場,並說肥仔為新進財金精英.局上肥仔財金精英不斷推介隻2324.話短期内会有surprise。叫我唔好miss 左个幾会. $0.156左右買左成2球……吊,今日得反0.115….点好?

斬,講完
呢個風報紙講幾百次,無句真

大股东要玩完?冇得等?

隻野向下炒的
66 : kwuntl(19490)@2012-08-22 15:12:22

我都有個朋友介紹我買呢隻...累我埋單輸左一千蚊...
金融界老X何其多...
67 : GS(14)@2012-08-22 16:08:57

66樓提及
我都有個朋友介紹我買呢隻...累我埋單輸左一千蚊...
金融界老X何其多...


我唔明點解仲有人輸在這隻股
68 : Alfred Ho(32091)@2012-08-23 10:19:54

67樓提及
66樓提及
我都有個朋友介紹我買呢隻...累我埋單輸左一千蚊...
金融界老X何其多...

我唔明點解仲有人輸在這隻股



曰日波幅成6-8%,成个赌场咁.....
69 : GS(14)@2012-08-23 10:20:36

68樓提及
67樓提及
66樓提及
我都有個朋友介紹我買呢隻...累我埋單輸左一千蚊...
金融界老X何其多...

我唔明點解仲有人輸在這隻股

曰日波幅成6-8%,成个赌场咁.....


直情是九死一生
70 : Alfred Ho(32091)@2012-08-23 10:25:28

69樓提及
68樓提及
67樓提及
66樓提及
我都有個朋友介紹我買呢隻...累我埋單輸左一千蚊...
金融界老X何其多...

我唔明點解仲有人輸在這隻股

曰日波幅成6-8%,成个赌场咁.....

直情是九死一生



今日斬左,輸左8个。
71 : GS(14)@2012-08-23 10:27:17

70樓提及
69樓提及
68樓提及
67樓提及
66樓提及
我都有個朋友介紹我買呢隻...累我埋單輸左一千蚊...
金融界老X何其多...

我唔明點解仲有人輸在這隻股

曰日波幅成6-8%,成个赌场咁.....

直情是九死一生

今日斬左,輸左8个。


希望唔好我烏雅口累你可版輸少D... 因為呢D 股實在太cheap
72 : Alfred Ho(32091)@2012-08-23 10:45:25

71樓提及
70樓提及
69樓提及
68樓提及
67樓提及
66樓提及
我都有個朋友介紹我買呢隻...累我埋單輸左一千蚊...
金融界老X何其多...

我唔明點解仲有人輸在這隻股

曰日波幅成6-8%,成个赌场咁.....

直情是九死一生

今日斬左,輸左8个。

希望唔好我烏雅口累你可版輸少D... 因為呢D 股實在太cheap


多谢你先啱,其实隻野有D咩事?点解突然插得咁利害?有故仔?
73 : GS(14)@2012-08-23 10:47:24

72樓提及
71樓提及
70樓提及
69樓提及
68樓提及
67樓提及
66樓提及
我都有個朋友介紹我買呢隻...累我埋單輸左一千蚊...
金融界老X何其多...

我唔明點解仲有人輸在這隻股

曰日波幅成6-8%,成个赌场咁.....

直情是九死一生

今日斬左,輸左8个。

希望唔好我烏雅口累你可版輸少D... 因為呢D 股實在太cheap

多谢你先啱,其实隻野有D咩事?点解突然插得咁利害?有故仔?

隻野個老細被人捉左內幕交易走左你咪唔是唔知吧,可能他要散貨找你做替死鬼
74 : Alfred Ho(32091)@2012-08-23 11:04:40

73樓提及
72樓提及
71樓提及
70樓提及
69樓提及
68樓提及
67樓提及
66樓提及
我都有個朋友介紹我買呢隻...累我埋單輸左一千蚊...
金融界老X何其多...

我唔明點解仲有人輸在這隻股

曰日波幅成6-8%,成个赌场咁.....

直情是九死一生

今日斬左,輸左8个。

希望唔好我烏雅口累你可版輸少D... 因為呢D 股實在太cheap

多谢你先啱,其实隻野有D咩事?点解突然插得咁利害?有故仔?

隻野個老細被人捉左內幕交易走左你咪唔是唔知吧,可能他要散貨找你做替死鬼


唔知......個朋友話会升爆.....吊.....
75 : GS(14)@2012-08-23 11:05:52

升爆都唔會話你聽啦
76 : Alfred Ho(32091)@2012-08-23 11:08:33

75樓提及
升爆都唔會話你聽啦


吊,班仆街老千幾時死呀...
77 : GS(14)@2012-08-23 11:09:23

76樓提及
75樓提及
升爆都唔會話你聽啦

吊,班仆街老千幾時死呀...


唔知呀,唔聽扮傻就得
78 : Alfred Ho(32091)@2012-08-23 11:11:25

77樓提及
76樓提及
75樓提及
升爆都唔會話你聽啦

吊,班仆街老千幾時死呀...

唔知呀,唔聽扮傻就得


Thank you~~~
79 : hopingu(1296)@2012-08-23 13:34:16

留意湯財的文, 未必可以發達(甚至阻大家發達), 但肯定可以輸少好多冤枉錢係ot 股身上~~

http://hk.apple.nextmedia.com/financeestate/art/20120823/16627593
投資一周:發達要賺窮人錢

首都創投(2324)的故事:上星期,一位線人打電話過來,說首都創投(2324)會炒起,那時的股價是0.16元。誰知過了兩天,不但不升,反而跌至0.14元。
我沒有買,但作為專業蠱惑仔,馬上致電線人,爆着粗說﹕「我買了50萬錢,家陣點算先(下略100字粗口)……」
他說﹕「好大沽壓,現在先放下去,會跌至0.12元以下,收齊貨先再踢返上來。」
我說﹕「你哋不是好乾嘅咩?邊個有貨掟你?」
他說﹕「有條友叫『 T君』,在高位買了幾百萬錢,猛咁沽貨。我梗係把股價質低,接齊貨,先至炒啦!」
「咁而家即係點?」
「 T君分開五日沽貨,沽清了,所以股價也已穩定下來。」他說﹕「家陣二三線咁旺,隻嘢又得一億市值咁多,我都要炒返轉,賺返點錢啦,如果唔係要隻殼來做乜?」
80 : Alfred Ho(32091)@2012-08-23 13:41:41

79樓提及
留意湯財的文, 未必可以發達(甚至阻大家發達), 但肯定可以輸少好多冤枉錢係ot 股身上~~
http://hk.apple.nextmedia.com/financeestate/art/20120823/16627593
投資一周:發達要賺窮人錢
首都創投(2324)的故事:上星期,一位線人打電話過來,說首都創投(2324)會炒起,那時的股價是0.16元。誰知過了兩天,不但不升,反而跌至0.14元。
我沒有買,但作為專業蠱惑仔,馬上致電線人,爆着粗說﹕「我買了50萬錢,家陣點算先(下略100字粗口)……」
他說﹕「好大沽壓,現在先放下去,會跌至0.12元以下,收齊貨先再踢返上來。」
我說﹕「你哋不是好乾嘅咩?邊個有貨掟你?」
他說﹕「有條友叫『 T君』,在高位買了幾百萬錢,猛咁沽貨。我梗係把股價質低,接齊貨,先至炒啦!」
「咁而家即係點?」
「 T君分開五日沽貨,沽清了,所以股價也已穩定下來。」他說﹕「家陣二三線咁旺,隻嘢又得一億市值咁多,我都要炒返轉,賺返點錢啦,如果唔係要隻殼來做乜?」



......................................!!!
81 : GS(14)@2012-08-24 09:28:01

http://www.hkexnews.hk/listedco/ ... TN20120823716_C.pdf
配售8,400萬股@11.3仙

配售之所得款項淨額約9,000,000港元。董事會擬視乎市況及投資機會而將所得款
項淨額用作投資及營運資金。
82 : Alfred Ho(32091)@2012-08-24 12:49:34

81樓提及
http://www.hkexnews.hk/listedco/listconews/SEHK/2012/0823/LTN20120823716_C.pdf
配售8,400萬股@11.3仙
配售之所得款項淨額約9,000,000港元。董事會擬視乎市況及投資機會而將所得款
項淨額用作投資及營運資金。



大股东係威利,邱中行比人踢走左.
83 : greatsoup38(830)@2012-08-24 12:53:12

是呀,無錯
84 : Alfred Ho(32091)@2012-08-24 12:56:01

83樓提及
是呀,無錯



邱中行仲有D咩?D fds 話佢好劲.
85 : greatsoup38(830)@2012-08-24 13:09:09

84樓提及
83樓提及
是呀,無錯

邱中行仲有D咩?D fds 話佢好劲.


他勁個鬼... 幾萬銀街數都畀唔起,個個都勁做唔到生意都是廢
86 : Alfred Ho(32091)@2012-08-24 13:16:08

85樓提及
84樓提及
83樓提及
是呀,無錯

邱中行仲有D咩?D fds 話佢好劲.

他勁個鬼... 幾萬銀街數都畀唔起,個個都勁做唔到生意都是廢



哈…幾萬銀街數都畀唔起,未同我差唔多。佢又做淫爱堂經理,吊完來係空心牛老官。
87 : greatsoup38(830)@2012-08-24 13:18:25

86樓提及
85樓提及
84樓提及
83樓提及
是呀,無錯

邱中行仲有D咩?D fds 話佢好劲.

他勁個鬼... 幾萬銀街數都畀唔起,個個都勁做唔到生意都是廢

哈…幾萬銀街數都畀唔起,未同我差唔多。佢又做淫爱堂經理,吊完來係空心牛老官。


唔作大個屎眼邊個信佢呀
88 : Alfred Ho(32091)@2012-08-24 13:24:09

87樓提及
86樓提及
85樓提及
84樓提及
83樓提及
是呀,無錯

邱中行仲有D咩?D fds 話佢好劲.

他勁個鬼... 幾萬銀街數都畀唔起,個個都勁做唔到生意都是廢

哈…幾萬銀街數都畀唔起,未同我差唔多。佢又做淫爱堂經理,吊完來係空心牛老官。

唔作大個屎眼邊個信佢呀


今次玩完鸟。
89 : oman(1154)@2012-08-24 13:33:01

STARMAN'S COLUMN - 江小魚
首創主席暗助「保釣」  
(2012年08月24日)

所謂港澳「保釣勇士」到釣魚台「宣示主權」,原來整隊人能夠成行,都要拜民間累捐超過七位數字之助,收了錢,怎可以不出海?這些錢,等同「戲金」?
日本右翼分子也到尖閣諸島插上太陽旗。其實,若不帶著所謂有點盲目的民族主義角度,客觀而言,這群島嶼,西方人稱之為Pinnacle Islands,日文譯之為尖閣諸島(Senkaku)。
中華人民共和國叫作釣魚島,在台灣的中華民國,則稱之為釣魚台。不少香港人叫「釣魚台」,可能政治不正確,因北京方面是叫「釣魚島」。
很多中國人都以為,中日關係「卡」在歷史問題,至今仍爭拗不斷。不過,這款想法似乎頗有問題,也反映持此論點的有關蛋頭專家不學無術。
早在1972年日中兩國建交,在「歷史問題」上──即二戰當中的中日戰爭問題的處理上,中日兩國已達成共識;日本侵略了中國,給中國政府和中國人民帶來巨大傷害和災難,日本對此進行由衷反省。
這一共識實現了中日兩國的邦交正常化,它意味著兩國從政治和外交意義上已就歷史問題達成了共識。否則,中日根本無法建立邦交,時任中共總理周恩來亦不可能同意並簽字,因這無法給國民合理交代。
周恩來總理在40年前實現中日邦交正常化的邏輯很清楚。歷史是客觀存在的,誰也改變不了,今天中日兩國人民其實面對的關鍵不在歷史本身,而是在於對歷史的認識。「歷史認識問題」即我們如何認識當年發生的歷史事件,這才是主要關鍵點。日本人,和中國人差異有多大?大家可能敢認而不敢講,正因有差異,看同一件事,自然有不同觀點。
中共「十八大」快將召開,所謂保釣不過是政治姿態的目光轉移;其實日本都幾無癮,你中國內部要「講數」,就搵著日本來搞,日本國內輿論對此清楚不過。
個人最討厭香港某些媒體,狗吠甚麼「中日必將一戰」!香港人好想打仗咩?到時股、樓「冧」到七彩呀!到時戰情稍見嚴峻,全國糧食供作軍需,無多餘可輸港,餓死你班友呀!中日必將一戰,知唔知自己講乜呀!
某周刊報道今次所謂「保釣」,提及一位暗地補給糧水的台灣猛人、中國國民黨中常委劉大貝,其現任職首都創投(2324)主席;我曾和他在「福臨門」吃過一次晚飯,當然只講股票不談政治。
我當時在想,他在中台兩邊均「吃得開」,現又坐正首都創投主席,難免幻想,該股未來究竟有何大龍鳳搞作?
90 : Alfred Ho(32091)@2012-08-24 13:36:02

89樓提及
STARMAN'S COLUMN - 江小魚
首創主席暗助「保釣」
(2012年08月24日)
所謂港澳「保釣勇士」到釣魚台「宣示主權」,原來整隊人能夠成行,都要拜民間累捐超過七位數字之助,收了錢,怎可以不出海?這些錢,等同「戲金」?
日本右翼分子也到尖閣諸島插上太陽旗。其實,若不帶著所謂有點盲目的民族主義角度,客觀而言,這群島嶼,西方人稱之為Pinnacle Islands,日文譯之為尖閣諸島(Senkaku)。
中華人民共和國叫作釣魚島,在台灣的中華民國,則稱之為釣魚台。不少香港人叫「釣魚台」,可能政治不正確,因北京方面是叫「釣魚島」。
很多中國人都以為,中日關係「卡」在歷史問題,至今仍爭拗不斷。不過,這款想法似乎頗有問題,也反映持此論點的有關蛋頭專家不學無術。
早在1972年日中兩國建交,在「歷史問題」上──即二戰當中的中日戰爭問題的處理上,中日兩國已達成共識;日本侵略了中國,給中國政府和中國人民帶來巨大傷害和災難,日本對此進行由衷反省。
這一共識實現了中日兩國的邦交正常化,它意味著兩國從政治和外交意義上已就歷史問題達成了共識。否則,中日根本無法建立邦交,時任中共總理周恩來亦不可能同意並簽字,因這無法給國民合理交代。
周恩來總理在40年前實現中日邦交正常化的邏輯很清楚。歷史是客觀存在的,誰也改變不了,今天中日兩國人民其實面對的關鍵不在歷史本身,而是在於對歷史的認識。「歷史認識問題」即我們如何認識當年發生的歷史事件,這才是主要關鍵點。日本人,和中國人差異有多大?大家可能敢認而不敢講,正因有差異,看同一件事,自然有不同觀點。
中共「十八大」快將召開,所謂保釣不過是政治姿態的目光轉移;其實日本都幾無癮,你中國內部要「講數」,就搵著日本來搞,日本國內輿論對此清楚不過。
個人最討厭香港某些媒體,狗吠甚麼「中日必將一戰」!香港人好想打仗咩?到時股、樓「冧」到七彩呀!到時戰情稍見嚴峻,全國糧食供作軍需,無多餘可輸港,餓死你班友呀!中日必將一戰,知唔知自己講乜呀!
某周刊報道今次所謂「保釣」,提及一位暗地補給糧水的台灣猛人、中國國民黨中常委劉大貝,其現任職首都創投(2324)主席;我曾和他在「福臨門」吃過一次晚飯,當然只講股票不談政治。
我當時在想,他在中台兩邊均「吃得開」,現又坐正首都創投主席,難免幻想,該股未來究竟有何大龍鳳搞作?






劉大貝係中南人????
91 : GS(14)@2012-08-24 23:08:12

他話是就是啦,打手
92 : kwuntl(19490)@2012-09-12 17:53:21

呢隻係咪想向下炒...?
93 : GS(14)@2012-09-12 22:29:54

92樓提及
呢隻係咪想向下炒...?



94 : GS(14)@2012-09-28 00:32:30

http://www.hkexnews.hk/listedco/ ... TN20120927639_C.pdf
炒股蝕死左,無錢

業務回顧及前景
於回顧年度內,經濟問題不僅局限於歐洲及北美地區,中國及其他發展中國家亦
出現增長倒退,情況令人憂慮。現時令人擔心的是新興國家的強大經濟體系亦將
陷入西方經濟發展放緩的困局。全球投資氣氛因此變得更加脆弱。由於投資環
境正在不斷惡化,本集團按公平值計入損益之財務資產錄得虧損約153,100,000港
元。除上文所述之上市投資外,可供出售投資– Quidam Assets Limited之估值亦受
到市場不確定因素之不利影響。Quidam Assets Limited投資之公允值變動虧損約
15,000,000港元已經於本年度確認。
在低息環境下,貴金屬已經成為對抗通脹之熱門投資產品,導致年內金銀交易活
動頻仍,本集團聯營公司中國北方金銀業有限公司因而表現出色,本集團分佔其
溢利高達49,100,000港元,部分彌補本集團股本投資平平之表現。
除現有業務外,於二零一二年五月,本集團收購Go Markets Pty Limited投資,其
作為「直通式處理」(Straight Through Processing)供應商,專門為零售投資者提供網
上外匯交易。收購代價為數約19,000,000港元,以本公司配發及發行約84,100,000
股股份予賣方的方式支付。
儘管投資環境自去年底起重大改變,本集團為加強資本及股東基礎、提升本集團
競爭力及參與具有較高發展潛力之項目,本公司於年內進行配售。本公司於二零
一一年八月成功按每股0.3港元配售約250,000,000股股份,配售所得款項總額約
75,000,000港元。
展望將來,本集團預期全球經濟增長將持續放緩。市場避險情緒升溫可能引發更
大的市場不確定性和波動,發達國家和發展中國家均難倖免。然而,二零一二年
九月已經宣佈第三期量化寬鬆。聯邦儲備局推出每月四百億美元、不設屆滿日期
的新債券購買計劃,以購買機構的按揭擔保證券,並繼續維持超低利率政策最少
至二零一五年中,其對股本投資而言實屬有利。另一利好的一面是,中國政府於
短期內進一步收緊當前之宏觀政策的機會似乎減低。董事將採取審慎措施以管理
本集團之投資組合。
95 : wilyty(1376)@2012-09-28 08:36:49

BIG C is really amazing
96 : david395(4434)@2012-09-29 10:21:40

瞬間賺幾球

首都創投極具爆升潛力

黃嘉俊

中國北方證券集團有限公司副總裁

Leo@cnigroup.com.hk



‧劉本身曾任國民黨中常委,在台灣的人脈網絡強大,絕對勝任兆豐票券董事長的身份。

‧首都創投現時的估值極度低廉,每股資產淨值為0.7元,折讓高達八成半。



現時在市場上,大折讓的股分有很多,但要捉摸到一隻會大幅抽升的,是有一定的困難。如筆者早前提及的首都創投(02324),雖然股價未有大炒作,但以現市值計,其實是偏低。加上近日台灣有報章報道,首都創投現主席劉大貝已被內定委任為台灣「兆豐票券」的董事長,劉本身曾任國民黨中常委,在台灣的人脈網絡強大,絕對勝任兆豐票券董事長的身分。



奕黧}始注意,若劉大貝在兆豐上任董事長後,其香港旗艦首都創投的前景應有一定憧憬,而筆者最近留意到多左「唉-bank」牌掛入,不知道是不是「唉-bank」或「專業投資者」消息突別靈通入十球博中獎,還是對公司前中短線都有信心。



首都創投現時的估值極度低廉,現價不夠0.1元,每股資產淨值為0.7元,折讓高達八成半。現時市值僅1億,連主板淨殼價都未達到,因此股價要翻兩番也不是難事。加上,技術指標(14)RSI約為12.2,已呈非常超賣,近日該股成交開始活躍,建議收集後,耐心等侯爆發,以其超落後走勢,以及近期市場瘋炒落後股分而言,大幅向下風險不高。加上首都創投日日波幅都有7至8%,升一格就有錢落袋。
97 : greatsoup38(830)@2012-09-29 10:36:11

我想笑,最新報告話得番4毛都唔夠
98 : GS(14)@2012-10-10 00:57:42

http://www.hkexnews.hk/listedco/ ... TN20121009377_C.pdf
執行董事及董事會主席之辭任
首都創投有限公司 (「本公司」) 董事會 (「董事會」) 宣布,劉大貝博士 (「劉博
士」) 已辭任本公司執行董事、董事會主席及投資委員會主席,由二零一二年十月九
日起生效。
劉博士辭任之原因是最近獲台灣官方財政部委任為兆豐票券金融股份有限公司董事
長,根據台灣當局的規定,未經特別許可,不得兼任其他公司的董事職務。劉博士
確認彼與董事會並無爭議,且概無有關其辭任的其他事宜須促請股東注意。
首席顧問之委任
董事會欣然宣布,由二零一二年十月九日起,劉博士已獲委任為本公司首席顧問 「( 首
席顧問」) ,就本公司的策略規劃及整體發展出謀獻策。首席顧問並不是董事會成員。
授權代表之變更
董事會亦宣布,由二零一二年十月九日起,劉博士不再擔任本公司按聯交所證券上
市規則第3.05條的要求而設的授權代表 (「授權代表」),執行董事及投資委員會成員
孔凡鵬先生已獲委接任授權代表之職務。
董事會謹藉此機會向劉博士於任內對本公司所作出之寶貴貢獻由衷致謝,又歡迎劉
博士及孔先生出任本公司的新職務。
99 : Vincemgm12(32446)@2012-10-10 08:59:48

2324会唔会是885的走勢翻板呢?尋底中!
100 : GS(14)@2012-10-10 21:54:14

99樓提及
2324会唔会是885的走勢翻板呢?尋底中!


885? 淨是得一隻?
101 : greatsoup38(830)@2012-10-19 00:54:25

http://orientaldaily.on.cc/cnt/finance/20121018/00202_038.html
首都創投(02324)執行董事孔凡鵬,遭富強證券入稟追討227萬元孖展證券戶口欠款。富強證券在入稟狀指出,孔氏於二○一○三月開設案中戶口,截至去年二月底戶口虧絀超過500萬元,同年九月,富強證券變賣戶口所有股票、證券抵債,現追討227萬元尾數。
102 : GS(14)@2013-01-05 12:17:04

http://www.hkexnews.hk/listedco/ ... TN20130104006_C.pdf
10合1,2供1,65仙,金江包銷,都幾例牌
103 : amazingrick(36737)@2013-02-22 22:55:11

一股賺3毫,點睇?雖然都幾假
104 : greatsoup38(830)@2013-02-23 10:36:08

103樓提及
一股賺3毫,點睇?雖然都幾假


唔使睇,是0.3仙,不是0.3元,你睇錯左
105 : amazingrick(36737)@2013-02-23 11:47:58

104樓提及
103樓提及
一股賺3毫,點睇?雖然都幾假


唔使睇,是0.3仙,不是0.3元,你睇錯左


唔怪之得!
106 : alb(35614)@2013-03-12 11:09:14

又炒起,印象中4月供股

(greatsoup: 已修改,有pdf 字尾至好貼)
107 : greatsoup38(830)@2013-03-12 21:56:11

106樓提及
又炒起,印象中4月供股


他們成日都是咁玩好悶
108 : alb(35614)@2013-03-14 08:14:24

睇下大C點講



實戰理論 - 沈振盈 2013年3月13日

實戰理論:大市22800有支持 - 沈振盈

港股上個禮拜挾完後,昨日已走了樣,恒指下破23000關口,一些炒兩會概念的板塊,跌幅更加驚人。筆者一早已提醒大家,市場可能是炒錯市,擔心會議完結前,已有資金提早散貨套現。一眾太陽能、基建、鐵路等股份,跌幅動輒5%至6%。內地股市亦疲弱,滬綜指已連跌四日,走勢也頗駭人。相信大市短期內仍會反覆,但估計22600至22800應有支持。

首都創投(2324)昨日宣佈,向六名承配人配售金額總值2,000萬元的可換股債券,年利息10厘,換股價0.1元,較上日收市價0.075元溢價約33.33%。昨日消息公佈後,股價進一步上升,收報0.087元,仍低於此可換股債券的行使價約13%。

指數股揀港交所平保
股價走勢方面,自12月於0.055元水平出現小型雙底後,開始建立起大型橫行區,於0.067元水平見支持,並間中出現急升回吐,但仍然守穩橫行區上。今次以0.1元行使價發CB,起碼可作參考,就是承配人的買貨成本在0.1元之上。

技術上,昨日上破2月中高位0.077元,出現了技術突破,若能企穩0.1元之上,此乃1月初之高位,先上望0.15元,止蝕位0.078元。

若以資產淨值計,根據早前公佈的業績報告,截至2012年12月底計,為0.3783元,現價的折讓頗大。截至2012年12月底止6個月未經審核的盈利為296萬元,開始轉虧為盈,每股盈利0.3仙。以前景及NAV的折讓計,首都創投皆具吸納價值。

回說大市,由於技術上出現短暫的調整訊號,指數股可等多一、兩天才趁低吸納。若指數能回落至100日線,便可落注買貨,首選為港交所(388)及平保(2318)。
109 : GS(14)@2013-03-14 10:04:14

大輸一年到晚推2324啦
110 : GS(14)@2013-05-25 13:01:03

273賣晒2324
111 : alb(35614)@2013-05-25 15:55:31

110樓提及
273賣晒2324


脫離關係?
112 : greatsoup38(830)@2013-05-25 15:56:20

111樓提及
110樓提及
273賣晒2324


脫離關係?


遲早咪一齊番,都是班老千搞來搞去
113 : lemonwongwong(33038)@2013-06-11 00:30:29

2324有咩背景?
114 : greatsoup38(830)@2013-06-11 00:31:25

113樓提及
2324有咩背景?


華匯康健澳門
115 : lemonwongwong(33038)@2013-06-11 00:32:03

哦。。。。有澳門份。。。
116 : greatsoup38(830)@2013-07-30 00:12:47

無人供股
117 : GS(14)@2013-10-01 12:24:38

2324
虧損降95%,至600萬,1億可變現資產
118 : supermandavid(42431)@2013-10-13 18:28:05

117樓提及
2324
虧損降95%,至600萬,1億可變現資產


大C,我發現E隻股票的在9月尾時中國金融公司有4.92%的股份,然後10月頭又去左另一個證券商度(完整7百萬股),你說係埋有野搞緊啊?
119 : greatsoup38(830)@2013-10-13 18:33:06

118樓提及
117樓提及
2324
虧損降95%,至600萬,1億可變現資產


大C,我發現E隻股票的在9月尾時中國金融公司有4.92%的股份,然後10月頭又去左另一個證券商度(完整7百萬股),你說係埋有野搞緊啊?


唔好搞呢d股啦,呢d股好難玩的....是從福財轉左去中金,中金轉去銀河的,即是又是班同夥,唔好中計啦

咁樣轉來轉去都是要你以為有背景,無視就得啦,又唔是好多錢

點解你地咁執迷不悟仲要去搞垃圾股,明知呃人呃錢還要花心機,無你咁好氣
120 : VA(33206)@2013-11-04 21:59:25

殼股潮越炒越勁,近排連啲「創仔」都炒到癲晒,勝曉嵐上個禮拜聽到,創仔殼最低入場費已要兩個億先有得傾,點解咁好價?皆因大sell side、buy side都想趕喺10月1日新例前搞掂。除咗創仔,而家殼潮仲蔓延到較冷門嘅「21仔」(即係21章公司,如周顯早前報稱自己買咗嘅首都創投(2324)就係21仔)。點解會蔓延到呢啲公司?因為而家多咗資產管理公司搵融資渠道,好似東方、長城呢啲大型資產管理公司,都話搵殼。事實上,21仔吃香唔係未試過,好似國開國際(1062),早兩年被國家開發銀行旗下專責資產管理嘅國開金融用每股0.4元收購咗,1062上周五收市報0.68元,較佢NAV 0.353元有近倍溢價,反映中資金融機構係有一定優勢。再睇番資料,目前市面上得25間21仔,因上市格要求甚高,所以近年再冇新嘅21仔登場,咁仲有咁多中資金融機構要嚟香港上市嘅話,就一定要借殼上,睇怕呢25間21仔短期都會癲埋一份。

http://www.sharpdaily.hk/supplem ... aRice-21%E4%BB%94/2
121 : GS(14)@2013-12-06 16:51:25

每手1萬股變5,000股
122 : greatsoup38(830)@2013-12-29 22:57:13

8100 出售2324 cb
123 : GS(14)@2014-01-16 00:54:35

盈喜
124 : GS(14)@2014-01-28 00:14:35

1供4,4送1紅股,認購價均是25仙
125 : 投機仁(34693)@2014-01-29 00:32:03

又係年年向南的垃圾
126 : greatsoup38(830)@2014-01-29 00:41:10

不知所謂
127 : greatsoup38(830)@2014-01-31 19:44:05

2324
128 : greatsoup38(830)@2014-01-31 19:45:10

又轉番人wor?
129 : 200(9285)@2014-02-04 21:14:57

丘忠航活躍返d了
http://www.cni-gold.com/inner_trend_detail.php?id=10789

2014-01-20

作者 : Marketing

點擊 : 266人次
活動:友聯勵進社30周年聯歡晚宴暨名譽社長就職典禮

時間:2014年1月17日(星期五)

地點:香港會議展覽中心四樓君爵廳

主禮嘉賓:香港特區立法局議員張華峰太平紳士及香港金銀業貿易場理事長張德熙先生

嘉賓:香港金銀業貿易場董事會成員、友聯勵進社成員、中國北方金融集團主席丘忠航先生及中國北方金融集團有限公司代表


中國北方金銀業有限公司於業內名聲超卓,備受業內人士推崇,中國北方金融集團主席丘忠航先生更獲委任為香港金銀業貿易場友聯勵進社第十五屆(2013-2015年度)名譽社長。


為隆重其事,金銀業貿易場設宴於香港會議展覽中心,舉行友聯勵進社30周年聯歡晚宴暨名譽社長就職典禮。

勵進社於1947年組織成立,友聯社翌年成立,1984年兩社合併,正式名為「友聯勵進社」。簡稱「友勵社」,以聯絡同業感情、團結互助、增進同人福利及發展體育為宗旨。多年來舉辦不少節目,包括旅行、就職聯歡會、體育活動等,在公益事務方面亦不遺餘力,現有社員數百人。
130 : GS(14)@2014-02-04 23:29:26

呢排可能個冷淡對待令就取消?
131 : 200(9285)@2014-02-17 21:04:29

greatsoup130樓提及
呢排可能個冷淡對待令就取消?


可能係,條撚人遲d唔知會不會出返山,佢檔野好似無租icc 搬左去中環‧
132 : GS(14)@2014-02-17 23:29:50

200131樓提及
greatsoup130樓提及
呢排可能個冷淡對待令就取消?


可能係,條撚人遲d唔知會不會出返山,佢檔野好似無租icc 搬左去中環‧


現在邊度開左?
133 : 200(9285)@2014-02-18 18:50:30

greatsoup132樓提及
200131樓提及
greatsoup130樓提及
呢排可能個冷淡對待令就取消?


可能係,條撚人遲d唔知會不會出返山,佢檔野好似無租icc 搬左去中環‧


現在邊度開左?


香港皇后大道中16號新世界大廈2304室.
134 : greatsoup38(830)@2014-02-18 22:34:49

200133樓提及
greatsoup132樓提及
200131樓提及
greatsoup130樓提及
呢排可能個冷淡對待令就取消?


可能係,條撚人遲d唔知會不會出返山,佢檔野好似無租icc 搬左去中環‧


現在邊度開左?


香港皇后大道中16號新世界大廈2304室.


同叔老巢啊
135 : 200(9285)@2014-02-27 19:42:25

8037 有無專區呀?
136 : greatsoup38(830)@2014-03-01 12:26:05

2324

盈利急增27.6倍,至8,600萬,輕債
137 : Louis(1212)@2014-05-27 22:51:41

首都創投(02324.HK)供股僅獲54.07%認購
2014年4月17日  05:48:02 a.m. HKT, AAFN

首都創投(02324.HK)公布供股結果,接獲涉及合共3.7億股有效接納及申請,佔供股總數54.07%,包銷商已促使獨立第三方認購餘下3.14億股供股股份。建議已成為無條件,供股股份預期本月22日(星期二)開始買賣。(de/d)


阿思達克財經新聞

份額持有人的大傾銷:
http://sdinotice.hkex.com.hk/di/ ... 4&src=MAIN&lang=ZH&

有何意見?smiley
138 : greatsoup38(830)@2014-05-28 01:10:27

佢地好有默契
139 : newtonau(41980)@2014-06-13 10:39:52

什麼意思?現價$0.19,資產值$0.7115。為何要出呢份野?

[url][/url]
140 : chungonluk(36574)@2014-06-14 15:42:24

2324 之前在0.6停過一段時間, 以前每前跌左都會升番去0.6, 依家出緊黃金交叉唔知有冇機會??
141 : greatsoup38(830)@2014-06-14 20:12:02

chungonluk140樓提及
2324 之前在0.6停過一段時間, 以前每前跌左都會升番去0.6, 依家出緊黃金交叉唔知有冇機會??


講d野都無邏輯
142 : GS(14)@2014-09-28 08:53:54

虧損增10倍,至7,260萬,8,200萬現金
143 : greatsoup38(830)@2015-01-16 01:10:26

盈喜
144 : greatsoup38(830)@2015-02-27 01:33:46

盈利急增60%,至1.3億,5.5億可變現資產
145 : greatsoup38(830)@2015-03-16 01:25:57

5合1,1供7,每股25仙
146 : greatsoup38(830)@2015-03-16 01:26:53

5合1,1供7,每股25仙
147 : greatsoup38(830)@2015-03-16 01:26:55

5合1,1供7,每股25仙
148 : greatsoup38(830)@2015-03-16 01:29:04

5合1後,1供7,每股25仙
149 : greatsoup38(830)@2015-03-16 14:05:59

test
150 : greatsoup38(830)@2015-03-17 10:28:43

adf
151 : abbychau(1)@2015-03-17 20:46:22

asdfasdf
152 : abbychau(1)@2015-03-17 20:46:37

asdfasdf
153 : Banana Republic(1499)@2015-03-21 09:52:24

供极都有,正!
154 : GS(14)@2015-03-25 01:12:23

恐怖啦
155 : jj1984(29252)@2015-05-12 13:01:19

真經典,1拆5,再5合1.....呢間21章公司永無翻身之日
156 : greatsoup38(830)@2015-05-13 01:33:41

唔好玩
157 : GS(14)@2015-06-25 00:33:43

改做9月年結
158 : greatsoup38(830)@2015-07-16 01:07:30

盈喜
159 : GS(14)@2015-07-21 01:27:32

供股不足額
160 : greatsoup38(830)@2015-09-02 01:13:08

盈利增14倍,至10.8億,輕債
161 : greatsoup38(830)@2015-09-28 23:08:53

http://webb-site.com/articles/sinceresmart.asp
Hao Wen, Capital VC and Unity
24th September 2015

Browsing through documents for a much longer forthcoming story, we came across two highly questionable acquisitions that link together 3 listed companies: Hao Wen Holdings Ltd (Hao Wen, 8019) and two Chapter 21 investment companies, Capital VC Ltd (Capital VC, 2324) and Unity Investments Holdings Ltd (Unity, 0913) that we have warned investors about in the past.

On 1-Sep-2014, Hao Wen Holdings Ltd (Hao Wen, 8019) announced the acquisition of 22.5% of Sincere Smart International Ltd (Sincere Smart, BVI), which owns 100% of Ideal Surplus Inc Ltd, a HK company which, according to Hao Wen, is "principally engaged in the provision of cloud platforms application and solutions". The "About us" page of its web site seems to confirm this, but if you click on the English "Home" button then you get a whole different experience - some sort of online Chinese betting platform. The vendor was a Mr Wang Zewei (Wang Zewei) and the deal completed on 8-Oct-2014.

The cash purchase price of HK$69m for 22.5% implies a valuation for 100% of HK$306.7m, compared with net profit from 7-Jan-2013 to 31-Mar-2014 of $3.4m and net assets of $2.9m, so this was a rich valuation indeed. Hao Wen was "principally engaged in the sale of biodegradable products and raw materials and the manufacture and sale of biomass fuel". You can see the synergy, can't you? No?

There was no mention of who owned the other 77.5% of Sincere Smart, so we dug, and found that in the 6 months to 31-Dec-2014, Capital VC bought an unspecified stake in Sincere Smart for HK$42.7m, see note 13 of the interim results. The open offer circular of Capital VC dated 24-Jun-2015, p53, discloses that the stake is 14.00%. So like Hao Wen, Capital VC had paid a price which implies a $305m valuation on Sincere Smart. The next page shows that in the 9 months to 31-Dec-2014, Sincere Smart lost HK$0.2m and ended with net assets of HK$2.7m. This is not what you would call a growth company.

But there was a third player. Note 12 of the 2014 annual report of Unity shows that it spent HK$90m on 29.5% of Sincere Smart, again a valuation of HK$305.1m. So the 3 companies, Hao Wen, Capital VC and Unity had altogether spent HK$201.7m on a 66% stake. However, on 5-Feb-2015, Unity agreed to sell its stake to "a third party" for HK$92m, of which $2m had been paid (see note 33) and $90m was due by 2-Oct-2015. That's rather convenient, because it avoids having to do an impairment test on the investment for the 2014 audit.

Capital VC has deferred its year end from 30-Jun-2015 to 30-Sep-2015, so it won't have to deal with that problem just yet.

The connection between Hao Wen and Unity goes further though.

Another investment made by Unity in 2014 was a 29.9% stake in Peak Zone Group Ltd (Peak Zone, BVI) for HK$90m, valuing the whole at $301m. Peak Zone is "engaged in the provision of integrated application." Note 17(iii) of the Unity 2014 annual report says Peak Zone made a profit of HK$0.392m and had net assets of HK3.092m, so this appears to be another vastly overpriced investment. Again, it was convenient that on 27-Feb-2015, after the year end and before the accounts were audited, Unity agreed to sell its stake to "a third party" for HK$108m, of which just $2m had been received and the rest was due by 31-Dec-2015. That raises the valuation of Peak Zone even further, to HK$361.2m. As Peak Zone was under contract for sale, no impairment test was applied.

By amazing coincidence, the 2014 annual results of Hao Wen include a footnote that on 6-Feb-2015, after the year end, it agreed to buy 5.4% of Peak Zone from an "independent third party" for HK$19.2m (implying a valuation of $355.6m), and the transaction was completed on 16-Feb-2015.

Webb-site Reports urges the SFC's corporate misconduct team to investigate these transactions.
162 : greatsoup38(830)@2015-09-28 23:19:42

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
163 : GS(14)@2015-10-16 00:59:23

不知所云
164 : greatsoup38(830)@2015-11-10 01:31:20

1 for 1 bonus shares
165 : greatsoup38(830)@2015-12-17 01:48:45

盈利增2.6倍,至2.5億,11.2億可變現資產
166 : GS(14)@2016-04-16 00:20:06

盈警
167 : greatsoup38(830)@2016-05-11 02:45:00

轉虧1.8億,現金1.8億
168 : greatsoup38(830)@2016-07-03 15:08:55

虧損降45%,至3,800萬,986持有745、802、1027、1063、1225、2324、8021、8193、8195
169 : GS(14)@2016-10-15 04:01:23

盈警
170 : GS(14)@2016-10-29 13:50:28

8100 買 8086、8018、1019、6161、6836、8081、2324、
171 : greatsoup38(830)@2016-11-12 14:10:22

5合1,又1供3@20仙
172 : GS(14)@2017-01-01 16:58:14

轉虧2.1億元,輕債
173 : GS(14)@2017-03-20 02:02:03

無人供
174 : greatsoup38(830)@2017-05-25 07:52:58

虧損增75%,至2,100萬,輕債
175 : greatsoup38(830)@2017-05-25 07:53:35

持有8021、1389、8193、802、8226、275
176 : greatsoup38(830)@2017-07-21 04:38:18

8100持2324
177 : GS(14)@2017-10-10 17:40:19

本公司董事會(「董事會」)謹此通知本公司股東(「股東」)及有意投資者,根據本
集團截至二零一七年九月三十日止年度(「本年度」)之未經審核管理賬目及董事
會目前可獲得的資料而作出的初步評估,比對本公司二零一五年╱一六年年報所
載截至二零一六年九月三十日止年度錄得的經審核淨虧損,預期本集團於本年度
將錄得淨虧損的明顯增加。本年度本集團業績之預期變動主要由於本集團上市投
資於本年度的淨虧損較之截至二零一六年九月三十日止年度者增加。
178 : GS(14)@2018-01-01 21:15:41

轉虧4,000萬,8億可變現資產
179 : GS(14)@2018-02-04 14:34:31

根據一般授權配售新股份
於二零一八年二月二日(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,向不少於六名獨立承配人配售最多550,000,000股
新股份,每股配售股份價格為0.050港元。
180 : GS(14)@2018-02-05 04:07:19

Webb曰:
The Enigma Network investment company is blowing the general mandate, issuing 19.96% new shares at $0.05, not mentioning the 84.9% discount to Net Asset Value of $0.3308 at 31-Dec-2017. The board claims the issue is in the interests of the Company and the Shareholders as a whole. The placing agent, Infast Brokerage, is 95% owned by GCPS (8193), another Enigma member. 3 minutes eariler, Capital VC announced a grant of 275m options at $0.058 to unnamed persons. Thats another potential 10% enlargement of the share base at an 82.5% discount to NAV. We call on the SFC to direct the Stock Exchange to reject the listing application for all the new shares.

「謎之網絡」投資公司正在衝破一般授權限制,以5仙發行19.96%股權,並無提及發行價較在2017年12月31日淨值33.08仙折讓84.9%。董事局指出發行「對公司及股東有利」。配售代理進匯證券是由另一間「謎之網絡」成員漢華專業服務(8193)持有95%。3分鐘前,首都創投授出2.75億購股權,行使價5.8仙予一些未披露名稱人士。這是另一個折讓82.5%發行10%潛在擴大股本的可能性。我們已經通知證監會和聯交所聯絡,以否決發行新股的申請。
181 : GS(14)@2018-03-21 18:15:57

首都創投有限公司(「本公司」)董事會(「董事會」)察覺本公司股份之價格最近有
所上升。董事會謹此宣佈本公司正協商簽訂有關投資於區塊鏈行業公司(「該投資」)
之意向書(「意向書」)。倘本公司簽訂意向書及╱或具約束力之協議,本公司將於
適當時候根據上市規則之所有適用規定作出進一步公告。
182 : GS(14)@2018-04-13 07:33:29

盈警
183 : greatsoup38(830)@2018-06-01 18:42:31

虧,5.4億可變現資產
184 : GS(14)@2018-10-14 12:43:28

董事會謹此通知股東及潛在投資者,根據本集團截至二零一八年九月三十日止
年度之未經審核管理賬目及董事會目前可獲得的資料而作出的初步評估,比對
截至二零一七年九月三十日止年度所錄得者,預期本集團於截至二零一八年九
月三十日止年度的未經審核綜合淨虧損將大幅減少。
185 : GS(14)@2019-05-24 08:39:05

無野好講
首都 創投 2324 前德 德泰 中華 投資 專區 關係 華匯 匯、 0870 8037 8082
PermaLink: https://articles.zkiz.com/?id=274356

首都創投(2324)建議發行29.72%擴大後股本予威利國際(0273)

1 : GS(14)@2011-06-11 15:11:24

http://www.hkexnews.hk/listedco/listconews/sehk/20110609/LTN20110609698_C.pdf
The subscription is at a 59% discount to NAV at 30-Apr-2011. Capital VC will thereby enter what we call the "Chung Nam Network" which includes several listed companies and 2 other Chapter 21 investment companies: Unity (0913) and Radford (0901), the share graphs of which speak for themselves.
認購價是相對2011年4月30日每股帳面值有59%的折讓。首都創投可以稱為我們稱為「中南網絡」(本網稱華匯系),包括數家上市公司(我們估計超過15家,包括購入首都創投後控制的上市公司)及其餘2家21章投資公司合一投資(913)及萊福資本(901),股票圖已為他們說明了一切。
2 : GS(14)@2011-06-11 15:11:43

http://www.hkexnews.hk/listedco/ ... TN20110609710_C.pdf
威利公告
3 : 估民(6429)@2011-06-11 15:24:37

唔怪得升左上去
4 : GS(14)@2011-06-11 15:49:32

今次一連控制4間公司
5 : monday18(10821)@2011-06-26 09:46:54

4樓提及
今次一連控制4間公司
中南。。。我都睇睇先。。。
6 : wanker44(12796)@2011-07-06 13:05:57

仲諗住呢隻嘢有得炒吓...而家都係算
7 : GS(14)@2011-07-06 21:20:10

向下炒就有
8 : wanker44(12796)@2011-07-06 22:34:25

呢隻嘢早排係咁左手交右手, 做大成交量, 引完人入黎之後, 而定回復平靜, 之後可能仲有一轉炒, 炒完就可以向下慢慢炒
9 : GS(14)@2011-07-06 22:38:08

唔會炒啦,D錢又用番在同系公司,已完成任務
10 : wanker44(12796)@2011-07-06 22:40:18

不過個排d大成交....真係好假..湯財兄, 建議將8082同2324放埋一齊, 同一班人玩既。都係丘xx個班人
11 : GS(14)@2011-07-06 22:41:09

http://realforum.zkiz.com/thread.php?tid=19382
其實你去錯貼,早你一步搞了
12 : GS(14)@2011-07-06 22:41:23

丘先生已賣殼給華匯了
首都 創投 2324 建議 發行 29.72% 擴大 股本 威利 國際 0273
PermaLink: https://articles.zkiz.com/?id=274742

丘忠航操控首都創投(2324)股價

1 : GS(14)@2011-07-08 08:12:48

http://www.mmt.gov.hk/eng/rulings/SKIC.Ruling.12042011.pdf
2 : GS(14)@2011-07-08 08:13:10

http://www.hket.com/eti/article/ ... 024a44e2cfb1-373435
兩名董事大手買賣公司股份,導致股價及股份交投突然急增,遭證監會質疑二人是否操控價格。市場失當行為審裁處即將就一宗新個案進行聆訊。

事件涉及德泰大中華(現稱首都創投,02324),於2009年1月2日至9日,包括當時的主席徐德強和執行董事丘忠航在內的股份交易。

於是年1月2日、5日及6日期間,丘忠航沽出一批德泰股份,佔這幾天沽盤的86%至100%,而徐德強則於1月7日及8日買入德泰股份,並佔買盤85%至92%。期間股價介乎4.1至4.2仙左右。

惟至1月9日,德泰交投突增,當日丘忠航沽盤佔了89%,而徐德強的買盤則佔62%。至於徐德強買入的股份中,97%來自丘忠航的沽盤,兼且是在收市前20分鐘內進行,而其時股價由4.9仙上升至收市的5.5仙,較之前一天勁升31%。

雖然二人辦公地點不同,但期間卻頻頻有電話往來,尤其是收市前20分鐘的時候。

兩董事齊否認 合作推高股價

徐德強在與證監會面時指,由於丘忠航於08年7月透過德泰供股增持股份,持股量更高於他,所以在當年8月,就與丘忠航商討於場外向他購入德泰股份,同時亦想繼續監察他的持股,以保自己仍是最大單一大股東地位。

另外,根據上市公司董事進行證券交易的標準守則,董事打算買賣公司股份時,需書面通知主席或另一名董事。在遵守此機制下,二人其實是事先知道對方的買賣股份意向。

徐德強向證監會話,對於丘忠航有意售股感到高興,故已準備以市價增持,又話估計於9日買入的股份來自丘忠航的沽盤。丘忠航則對證監會話,雖然知悉徐德強有意買股,但並不知他最終有沒有購入。
3 : GS(14)@2011-12-13 00:08:44

http://www.hkexnews.hk/listedco/ ... TN20111212299_C.pdf
茲提述首都創投有限公司 (「本公司」) 於二零一一年八月十九日就市場失當行
為審裁處對本公司兩名執行董事的查詢所刊發的公告 (「該公告」)。除另有界
定或文意另有所指外,本公告所用詞彙與該公告所界定者具有相同涵義。
本公司董事會現就該查詢的進展提供進一步資料,實質聽證會將增加三天,即二
零一一年十二月十九日至二十一日。
本公司在需要及適當時會作進一步公告。
4 : GS(14)@2012-01-19 00:03:30

http://www.hkexnews.hk/listedco/ ... TN20120118664_C.pdf
茲提述首都創投有限公司 (「本公司」) 分別於二零一一年八月十九日、十二月
十二日及十二月二十九日就市場失當行為審裁處對本公司兩名執行董事的查詢
所刊發的公告 (「該等公告」)。除另有界定或文意另有所指外,本公告所用詞
彙與該等公告所界定者具有相同涵義。
本公司董事會現就該查詢的進展提供進一步資料,實質聽證會將增加兩天,即二
零一二年一月十八日及一月二十日。
本公司在需要及適當時會作進一步公告。
5 : Vincemgm12(32446)@2012-10-05 22:58:33

0.09
6 : tom2hk(23486)@2015-06-14 01:59:59

2324 終於有動作....
看著他的進展......
7 : GS(14)@2015-06-15 01:30:06

唔好搞啦,好唔好
8 : tom2hk(23486)@2015-06-15 02:41:59

greatsoup7樓提及
唔好搞啦,好唔好


點解啊???
丘忠 忠航 操控 首都 創投 2324 股價
PermaLink: https://articles.zkiz.com/?id=275264

太陽娛樂(8082,前訊通控股、仁智國際)專區(關係:2324、2309)

1 : GS(14)@2014-08-17 00:58:09

http://realforum.zkiz.com/thread.php?tid=5826&page=
前專區
2 : GS(14)@2014-08-17 01:05:31

8082

6個月虧降48%,至1,300萬,3個月虧少20%,至900萬,重債
3 : GS(14)@2014-10-25 11:49:57

1. 配售7,000萬股@0.2
2. 1供2,每股0.2
4 : GS(14)@2015-01-01 14:25:22

通函
5 : GS(14)@2015-05-06 15:29:14

虧損多10%,至2,800萬,空殼重債
6 : greatsoup38(830)@2015-08-14 12:10:42

3個月虧降33%,至240萬,6個月虧降27%,至730萬,3,200萬現金
7 : greatsoup38(830)@2016-04-03 02:50:22

虧損降15%,至2,500萬,2,000萬現金
8 : greatsoup38(830)@2016-05-28 21:04:51

配售1.38億股@14仙
9 : greatsoup38(830)@2016-08-18 06:06:46

虧,2,500萬現金
10 : GS(14)@2016-08-23 12:37:15

buy rubbish commission
11 : GS(14)@2017-01-25 18:42:08

投資協議
於二零一七年一月二十四日(聯交所交易時段後),光尚文化(本公司之直接全資附屬公司)
與太陽娛樂訂立投資協議,據此,投資協議之訂約方已有條件同意共同投資製作目標電影。
根據投資協議,太陽娛樂將負責(其中包括)製作及發行目標電影,而光尚文化將負責出資
26,270,770港元,以為製作目標電影提供資金,相當於製作預算約20%。於投資完成後,光尚
文化將有權享有目標電影之20%收益權。
12 : GS(14)@2017-03-09 09:24:31

於二零一七年三月八日(交易時段後),本公司與配售代理訂立配售協議,據此,配售
代理同意代表本公司,按盡力基準以配售價每股配售股份0.16港元向不少於六(6)名承配
人(彼等及彼等之最終實益擁有人將為獨立第三方)配售配售股份(涉及合共165,000,000
股新股份)。

13 : greatsoup38(830)@2017-05-15 02:51:13

虧,600萬現金,空殼
14 : greatsoup38(830)@2017-06-28 17:48:13

cheap selling
15 : GS(14)@2018-01-24 14:52:15

SOLD TO SUN FOR 0.16
16 : GS(14)@2018-03-06 18:06:06

該等要約結果及該等要約在所有方面成為無條件
於二零一八年三月五日下午四時正,要約人接獲(i)有關股份要約項下合計409,303,666股股份
的有效接納,相當於本公司於本聯合公佈日期全部已發行股本之約35.35%;及(ii)有關購股權
要約項下合計239,276份購股權(相當於未行使購股權之約1.08%)的有效接納。
經計及有關股份要約項下409,303,666股股份的有效接納後,要約人及其一致行動人士(除徐
先生外)將持有合計694,795,978股股份,相當於本公司於本聯合公佈日期全部已發行股本之約
60.01%。由於綜合文件所載股份要約之所有條件已達成,股份要約於二零一八年三月五日在
所有方面已成為無條件。由於股份要約在所有方面已成為無條件,購股權要約亦於二零一八
年三月五日在所有方面已成為無條件。
17 : GS(14)@2018-03-07 21:50:23

1.08%
18 : GS(14)@2018-03-20 11:45:49

62%
19 : GS(14)@2018-04-01 10:41:34

虧,800萬現金
20 : GS(14)@2018-04-11 05:56:48

恢復公眾持股
21 : GS(14)@2018-04-13 07:46:50

控股股東實物分派
22 : bylee(26720)@2018-04-18 18:05:32

what is the purpose of 實物分派?

What is the purpose to buy this shell?
23 : GS(14)@2018-04-19 05:42:53

bylee22樓提及
what is the purpose of 實物分派?

What is the purpose to buy this shell?


拆番散d股囉
24 : bylee(26720)@2018-04-19 10:33:53

Thx.


Fry?




greatsoup23樓提及
bylee22樓提及
what is the purpose of 實物分派?

What is the purpose to buy this shell?


拆番散d股囉

25 : GS(14)@2018-04-19 18:24:00

bylee24樓提及
Thx.


Fry?




greatsoup23樓提及
bylee22樓提及
what is the purpose of 實物分派?

What is the purpose to buy this shell?


拆番散d股囉


唔知啦
26 : GS(14)@2018-07-24 04:33:06

合作不成改借錢
27 : GS(14)@2018-08-19 20:25:31

虧,輕債
28 : GS(14)@2018-11-24 01:27:20

配售協議
於二零一八年十一月二十三日(交易時段後),本公司與配售代理訂立配售協議,據此,配售
代理同意代表本公司,按盡力基準以配售價每股配售股份0.330港元向不少於六(6)名承配人
(彼等及彼等之最終實益擁有人將為獨立第三方)配售配售股份(涉及合共60,000,000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。本公司將向聯交所
上市委員會申請批准配售股份上市及買賣。
29 : GS(14)@2018-11-27 18:49:31

配售協議
於二零一八年十一月二十三日(交易時段後),本公司與配售代理訂立配售協議,據此,配售
代理同意代表本公司,按盡力基準以配售價每股配售股份0.330港元向不少於六(6)名承配人
(彼等及彼等之最終實益擁有人將為獨立第三方)配售配售股份(涉及合共60,000,000股新股
份)。
30 : GS(14)@2019-04-02 16:33:00

轉賺300萬,1,000萬現金
31 : GS(14)@2019-04-11 02:46:46

洗米華還原8082
32 : GS(14)@2019-04-30 08:33:34

茲提述周焯華先生(「要約人」)與本公司聯合刊發日期為二零一九年四月九日之公佈(「聯合公
佈」),內容有關(其中包括)太陽國際証券有限公司將為及代表要約人作出強制性無條件現金
要約(「該等要約」)以收購全部已發行股份並註銷本公司之所有尚未行使購股權(不包括要約
人及其一致行動人士已擁有及同意將予收購者)。除另有註明者外,本公佈所用詞彙與聯合公
佈所界定者具有相同涵義。
33 : GS(14)@2019-05-26 09:25:45

認購價提高
34 : GS(14)@2019-05-29 00:41:03

易名太陽娛樂
太陽 娛樂 8082 訊通 控股 仁智 國際 專區 關係 2324 2309
PermaLink: https://articles.zkiz.com/?id=285085

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