@ywtoh, @Dungiven, @willchang409,
You may be interested in the below as you have commented and contributed on this topic previously.

@sell,

I did some digging around, Hao Jing is listed as the main founder of Shanghai Brightfield Chemical Company and was therefore the one mentioned as a strategic supply chain advisor. As of July 25th, 2016 when it was announced Brightfield were selected as an advisor, Hao Jing was already apparently a shareholder (although not Top 20). Not sure if he purchased in the initial Emefcy IPO, or bought on market.




Brightfield are connected with Ross Haghighat and his company FRX Polymers.
Brightfield distribute some of the FRX products in China.
In Oct 2017, Brightfield were a participant in a pre-IPO financing round for FRX.

Ross through Triton Systems was responsible for the re-capitalization of the Savcor Group shell, which Emefcy then vended into.
His fingerprints are on a lot of the early Emefcy decisions.


I think Hao Jing/Brightfield also participated in the CR.


On the 1st of Aug 2016, there were 1.8 mill unlisted options issued to the advisors.


On the 10th of Aug 2016, there were 150,000 shares issued to the advisors.

On the 5th of June, 2017, 1.3 million unlisted options were exercised @ $0.64.

500k of the unlisted advisor options expired without being exercised.

The exercise of 1.3 million options raised Hao Jing's holdings to 9.1 million shares.

@sell the 30th September 2016 cross trade you referenced was likely just Hao Jing moving shares around from one account to the other after they became available after issue. Brightfield apparently do business in Europe, America and Asia, so it would not surprise me if there is some sort of financial base in Singapore for management of funds. Moving money through China is much more difficult.

Working backwards, if he had 9.1 million shares in 2018,
Minus 1.3 million advisor option shares ($0.64 conversion),
Minus 150,000 advisor shares (no cost, in lieu of $ payment),
Minus 7,601,693??? from your cross trade (CR participation shares - $0.64),
Leaves 48,307 shares that were bought prior to July 2016.

@willchang409 in your picture I believe you have circled the incorrect person.
I believe Hao Jing to be the 3rd in from the left.

See below.

Shanghai Brightfield Chemical Co., Ltd. main executives