Anyone watching this.. Used to be a HC Add?, page-6

Yes it is certainly bizarre.

The Top 20 shareholders own 98.8% of shares.

Now check out the prospectus from 9th Sep 2013. The photo of the guy modelling their blue jacket is also used in their latest presentation in May 2014. Haven't they changed their range in 9 months??

My guess as to what is happening to their business is that they are expanding further in PRC (sales +25%), but margins are contracting (EBIT grew 5%).

These guys are an old Hong Kong brand menswear that are maybe not doing so well as better brands (western and local) compete in PRC.

SBB listed in Dec 2013 raising $10m. Then it paid out a large dividend of 6c x 471m shares = $28m. Why list in the first place if they don't need the cash?

Very very strange. Just my notes and thoughts, based on first pass look, meant constructively.