“Prior to joining the Group, Mr So was an executive director of China Packaging Group Company Limited, an investment holding company listed on the Main Board of the Hong Kong Stock Exchange (Stock Code: 572), during the year of 2009. The principal business activities of China Packaging Group Company Limited and its subsidiaries are the manufacture and sale of tinplate cans for the packaging of beverage in Shanxi, PRC. Mr So was responsible for the administration of China Packaging Group Company Limited and its subsidiaries at the material times.”
The only announcement I can find relating to this company in 2009 was this;
This included a change of auditor (quite a common initial step in fraudulent listed Chinese / HKG companies when they begin to unravel), and successful claims made by several banks with a wind up petition. The stock was suspended. It named 4 executive directors and 2 non-executive directors. This did not include a Mr Chiu So or Mr “Charles” So.
Since then, the same listed company has changed its name in November 2014 to China For You Group Company Limited (engaged in trading health products), and then in early 2016 again to Central Wealth Financial Group Limited (“an investment holding company… engaged in trading business and related services and securities trading and investment”). It currently has 11 employees.
Why does DFM not provide a more comprehensive and relevant background on its Board and Executives?
I would never buy this stock and do not short any stocks.
DFM Price at posting:
$1.02 Sentiment: Sell Disclosure: Not Held
