HK-listed Chinese small caps Yan Tat Group (1480 HK) and Jicheng Umbrella (1027 HK) plunge on SFC market probe rumors

http://www.thestandard.com.hk/news_detail.asp?pp_cat=30&art_id=156921&sid=44443103&con_type=1

Small caps plunge on SFC market probe rumors
Imogene Wong
Tuesday, May 12, 2015
Shares of small-cap companies including Yan Tat Group Holdings (1480) and Jicheng Umbrella Holdings (1027) tumbled yesterday as reports emerged that regulators were probing abnormal gains in the stocks. Yan Tat – a mainland-based manufacturer of printed circuit boards with a market capitalization of about HK$2.2 billion – dived nearly 50 percent to HK$9.10 yesterday. It soared to as much as HK$102 on Friday and then falling to HK$17.44 on the same day. It was listed in December. Another newly listed firm, Fujian- based Jicheng Umbrella, surged from its debut price of HK$1.10 in February to hit HK$13 yesterday – but that was down 18.2 percent from Friday after it announced a share split. Continue reading

Mingyuan Medicare (233 HK): Missing Executive Director, Audit Delay in Cash Balance

12 May 2015: (233) Mingyuan Medicare: Mingyuan Medicare Development Company Limited has tried to contact Zhao Chao, an executive director of the company, since the end of December 2014. All the attempts were unsuccessful. Zhao is responsible to oversee the operation of the medical centres management division of the company (the Division). The Division has been run by experienced management team for years and Yao Yuan, the chairman and CEO of the company, has already taken up the responsibility to oversee the Division during Zhao’s absence.

27 March 2015: (233) Mingyuan Medicare: Mingyuan Medicare Development Company Limited expects to record a small profit for the year ended 31 December 2014 due to a gain generated from recovery of other receivable previously written off

18 March 2014: (233) Mingyuan Medicare: Mingyuan Medicare Development Company Limited issued profit warning for the year ended 31 December 2013 due to significant increase in impairment losses of goodwill and other intangible assets

11 March 2013: (233) Mingyuan Medicare: The board of directors of the Company (the “Board”) wishes to inform the shareholders of the Company and potential investors that based on the management’s preliminary assessment of the unaudited management accounts, the Group may record a loss for the year ended 31 December 2012, as compared to a profit for the year ended 31 December 2011. The loss is primarily due to the substantial increase in amortisation of intangible assets.  Continue reading