Ann: Becoming a substantial holder, page-3

Dsiclaimer - I still like TTT & have them on my buy list but ....

China Galaxy Securities Co. Ltd makes up the CGS part of the CGS-CIMB Securities, who you refer to. Does anyone know their relationship to the Chinese Communist Party? I would suggest they may well be a pawn. Intellectual property might be at risk. If you had specialised IP, would you share it with the CCP? I know they already have a manufacturing partner in China, but it may not be too long before the CCP are entitled to have a member on the board.

Perhaps read the Chairman's Statement on page 3 of the 2020 Social Responsibility Report
https://www1.hkexnews.hk/listedco/listconews/sehk/2021/0329/2021032902154.pdf

& a little history

"One classic example of the former is the reorganization of China Galaxy Securities, a state-owned
enterprise at the central government level. China Galaxy Securities, established in
August 2000 with the merger of the securities divisions of four state-owned banks and
a trust company subsidiary of a state-owned life insurer, was at one time one of
58 Nomura Capital Market Review Vol.9 No.4
China's largest7
securities firms, with about 200 offices nationwide and 3 million
client accounts. After running up huge losses from illegal activity over the past two
years, however, it became a candidate for reorganization. In June 2005, Central Huijin
and the Ministry of Finance jointly invested in China Galaxy Financial Holding, and
established three companies under the holding company: China Galaxy Securities,
Galaxy Investments, and Galaxy Asset Management. The new China Galaxy
Securities plans to acquire the securities assets of the existing China Galaxy Securities." from Nomura Institute of Capital Markets Research | The Restructuring of China's Securities Industry