Teamway International Group

Teamway International Group Holdings Limited is a Cayman-incorporated holding company based in Hong Kong and in the mainland China. It is a "registered non-Hong Kong company" in the Hong Kong Companies Registry since 2011. It was formerly known as Jin Bao Bao Holdings Limited (the Chinese legal name registered in Hong Kong was 金寶寶控股有限公司). According to the company itself, it is "principally engaged in the business of (i) design, manufacture and sale of packaging products and structural components in the PRC; (ii) provision of corporate secretarial, consultancy and business valuation services; and (iii) property investment."[3]:20

Teamway International Group Holdings
Formerly
Jin Bao Bao Holdings
public
Traded asSEHK1239
ISINKYG8713D1051
Industrymanufacturing, conglomerate
Founded4 January 2011; 9 years ago (2011-01-04)
FounderChao Pang Ieng
Headquarters
Grand Cayman, Cayman Islands(legal)
Tsim Sha Tsui, Hong Kong(de facto)
Area served
mainland China, Hong Kong
Key people
Xu Gefei (chairman)[1]
Productspackaging products and structural components
Servicescorporate secretarial, consultancy and business valuation services
RevenueIncrease CN¥379 million (2017)
Decrease CN¥ negative 2 million (2017)
Total assetsIncrease CN¥746 million (2017)
Total equityIncrease CN¥284 million (2017)
Owner
Cao Longbing(19.82%)
Ling Zheng(08.43%)
Jiang Zhong(07.55%)
former Chinese name
Traditional Chinese金寶寶控股有限公司
Simplified Chinese金宝宝控股有限公司
Websitewww.teamwaygroup.com
Footnotes / references
in consolidated financial statement[2]

HistoryEdit

Jin Bao Bao Holdings Limited is a Chinese packaging group; the holding company itself, was incorporated in the Cayman Islands on 4 January 2011,[4] but headquartered in Hong Kong.

In December 2011, shortly after its initial public offering on the Stock Exchange of Hong Kong, the company was also infamously known for its narrow shareholders base, which 15 shareholders owned 96.11% shares of the company.[5][6] The company later resolved the problem by widen its share capital.

In February 2017, it was also known for a 52% soar in its share price within two hours.[7] According to a Hong Kong newspaper, South China Morning Post, the largest beneficial owner (20.59% of total share capital) of the holding company at that time, Huang Youlong and his wife Zhao Wei, also owned Zhejiang Talent Television & Film, Sino Golf Holdings, Yunfeng Financial Group, Zhejiang People Culture [sic] (Chinese: 浙江万家文化; Zhejiang Wanjia Culture) and Alibaba Pictures Group, all were listed companies on the Hong Kong or on the Shenzhen Stock Exchange.[7] They sold the shares of Teamway in July 2017; the couple were banned to enter the securities market of the mainland China by the China Securities Regulatory Commission for market manipulation on Sunriver Culture (Chinese: 祥源文化; former Wanjia Culture) in November 2017.[8][9][10]

In April 2017, after acquiring the corporate secretarial, consultancy and business valuation services in November 2016,[11][12]:5 the company attempted to sell the packaging main business.[13] However, it was collapsed.[14] In May 2017, Teamway International became an indirect shareholder of Singapore-listed company Cityneon, as part of a consortium called "Lucrum 1 Investment". Jin Bao Bao owned 8.5% stake in the consortium.[15] In November 2017 a memorandum of understanding was signed to acquired the controlling stake (additional 76% shares) of Lucrum 1 Investment from other investor: BVI-incorporated Massive Right Investments.[16][17] It was reported that Massive Right Investments was owned by Geng Zhihua.[18] The deal to acquire Lucrum 1 Investment was collapsed in February 2018.[19]

The holding company was proposed to rename to Teamway International Group Holdings Limited in July 2017;[20] it became effective in October.

Teamway International, via a subsidiary Great Earn International, was also known for lending money to Li Yonghong's investment vehicle "Rossoneri Sport Investment" on 28 August 2017, for US$8.3 million (approx. HK$65 million)[11][21] which was an indirect parent company of Italian football club A.C. Milan.[22][23][24] According to Teamway, Li Yonghong charged the share of "Rossoneri Advance", the parent company of "Rossoneri Sport Investment" to Teamway, which David Webb, a critic, doubted the deal, as there was another "lower stream" holding company incorporated in Luxembourg, which Teamway may not be the ultimate controller of A.C. Milan if any default and/or in the senior rank of repayment.[11]

ShareholdersEdit

As of 30 June 2017,[3]:27 it was 19.03% owned by Huang Youlong, husband of Chinese actress Zhao Wei as the largest substantial shareholder. However, on 7 July 2017, Huang sold the entire stake he held (2.100 billion number of shares). At the same time, Cao Longbing (Chinese: 操隆兵; pinyin: Cāo Lóng Bīng), via Bright State Investment, acquired the same number of shares for an average price of HK$0.0670.[25][26] Huang acquired the stake (20.59% of the share capital at that time) in June 2016 for HK$0.3 per share, from Trend Rich Enterprises;[27] Trend Rich Enterprises was an investment vehicle of Liu Liangjian (Chinese: 劉良建).[28]:26 Liu Liangjian himself acquired the stake (75% of the share capital at that time) from Rich Gold International, for HK$3.733 per share [before the subdivision of shares in May 2015 and subsequent issue of bonus share to the existing shareholder] in January 2015,[29] or approx. HK$0.07466 per share, which he sold 2.1 billion number of share to the off-market for HK0.3 per shares on 22 January 2016,[30] few days after selling 1.9 billion share to the "open market"[11] that eventually went to Liu Yang for the same price and on the same day; Rich Gold International was the investment vehicle of Chao Pang Ieng (Chinese: 周鵬鷹).[31] The initial public offering price [before splitting and issue of new and bonus share], was just HK$1.25 in 2011.[32]

The second largest substantial shareholder, As of 30 June 2017, was a private equity fund Riverwood China Growth Fund, that was managed by Atlantis Capital Holdings, a company owned by Liu Yang (simplified Chinese: 刘央; traditional Chinese: 劉央), for 14.10% shares (about 1.555 billion of shares, was 1.9 billion in January 2016).[3]:27 Liu Yang's stake was also acquired from Liu Liangjian (via open market) for HK$0.30 per share on 19 January 2016;[33][34] she was one of the 2012 "Asia's 50 Power Businesswomen" by Forbes.[35]

The third largest substantial shareholder, As of 30 June 2017, was Ling Zheng (Chinese: 凌正), for 8.43% shares (930 million number of shares),[3]:27 who also served as the chairman of the company since 27 September 2016.[3]:2[12]:11 Ling Zheng acquired the stake for HK$0.26 per share in December 2015 from Liu Liangjian.[36][37] Liu Liangjian also sold 470 million shares to Fang Haibo (Chinese: 方海波) on the same day.[37]

The fourth largest substantial shareholder, As of 30 June 2017 (7.55% or 833.34 million number of shares) was Jiang Zhong (Chinese: 江中, via Media Range Limited) which was purchased on 25 May for HK$0.06 per share (HK$50 million in new share).[38][39]

ReferencesEdit

  1. ^ "List of directors and their role and function" (PDF) (Press release). Teamway International Group Holdings. 6 March 2018. Retrieved 8 July 2018 – via Hong Kong Exchanges and Clearing website.
  2. ^ 2017 Annual Report (PDF). Teamway International Group Holdings. 25 April 2018. Retrieved 8 July 2018 – via Hong Kong Exchanges and Clearing website.
  3. ^ a b c d e "2017 Interim report" (PDF). Hong Kong: Jin Bao Bao Holdings. 27 September 2017. Retrieved 23 October 2017 – via Hong Kong Exchanges and Clearing Limited.
  4. ^ Web Proof Information Pack (PDF). Jin Bao Bao Holdings. 18 November 2011 [Original publish date 21 October 2011]. Retrieved 17 March 2018.
  5. ^ "15 gǔ dōng chí yǒu jīn bǎo bǎo 96%" 15股東持有金寶寶96%. Apple Daily (in Chinese). Hong Kong: Next Digital. 15 December 2011. Retrieved 23 October 2017.
  6. ^ "High Concentration of Shareholding in Jin Bao Bao Holdings Limited (Stock Code:1239)" (PDF) (Press release). Hong Kong: the Securities and Futures Commission. 14 December 2011. Retrieved 23 October 2017.
  7. ^ a b He, Laura (8 February 2017). "Company of actress Zhao Wei's husband soars 52% in HK trading". South China Morning Post. Hong Kong. Retrieved 23 October 2017.
  8. ^ 吴, 佳柏 (12 December 2017). Written at Shanghai. 中国证监会处罚赵薇夫妇. Financial Times (Chinese edition) (in Chinese). Translated by 何, 黎. Other contributor: Yizhen, Jia. Beijing.
  9. ^ 关于公司及相关当事人收到中国证券监督管理委员会行政处罚及市场禁入事先告知书的公告 (PDF) (Press release) (in Chinese). 10 November 2017. Retrieved 17 March 2018.
  10. ^ 赵薇夫妇56亿资产版图:控两只仙股 持有6亿不动产. 澎湃新闻 (in Chinese). 14 November 2017. Retrieved 17 March 2018 – via China Securities Journal website.
  11. ^ a b c d Webb, David (22 October 2017). "Questions on Teamway (1239) and a bit of soccer". webb-site.com. Hong Kong. Retrieved 23 October 2017.
  12. ^ a b "2016 Annual Report" (PDF). Hong Kong: Jin Bao Bao Holdings. 26 April 2017. Retrieved 23 October 2017 – via Hong Kong Exchanges and Clearing website.
  13. ^ "Jīn bǎo bǎo kòng gǔ (01239) nǐ 2.5 yì gǎng yuán chū shòu chéng hào guó jì quán bù gǔ quán" 金宝宝控股(01239)拟2.5亿港元出售成浩国际全部股权. zhitongcaijing.com (in Chinese). 19 April 2017. Retrieved 23 October 2017 – via Sina.
  14. ^ [Leung], 杰文 [Mike] (18 October 2017). "Ké gǔ jiāo shōu nán dù gāo" 殼股交收難度高. 細價股一周. Apple Daily (in Chinese). Hong Kong: Next Digital. Retrieved 23 October 2017.
  15. ^ "Star Media to dispose of 64% stake in CityNeon for $115". Singapore Business Review. Charlton Media Group. 30 May 2017. Retrieved 23 October 2017.
  16. ^ "Cityneon faces possible cash offer as majority shareholder gets acquired". The Business Times. Singapore Press Holdings. 7 November 2017.
  17. ^ "Memorandum of understanding in relation to the proposed acquisition" (PDF) (Press release). Hong Kong: Teamway International Group Holdings. 6 November 2017. Retrieved 15 November 2017 – via Hong Kong Exchanges and Clearing website.
  18. ^ http://infopub.sgx.com/FileOpen/_F3-Lucrum%20Massive%20Geng%20F.ashx?App=Announcement&FileID=454154
  19. ^ "Cityneon's full-year profit more than doubles on IP rights contributions". The Straits Times. Singapore Press Holdings. 28 February 2018. Retrieved 8 March 2018.
  20. ^ 金寶寶(01239)擬將英文名稱改為 Teamway. Quam Limited (in Chinese). Infocast. 5 July 2017. Retrieved 17 March 2018.
  21. ^ "Disclosable transaction: provision of loan facility" (PDF) (Press release). Hong Kong: Jin Bao Bao Holdings. 29 August 2017 [Written on 28 August 2017]. Retrieved 23 October 2017 – via Hong Kong Exchanges and Clearing website.
  22. ^ "Zhōng zī mǎi qǐ AC mǐ lán yí tòu guò ké gǔ chóu qián" 中資買起AC米蘭 疑透過殼股籌錢. Apple Daily (in Chinese). Hong Kong: Next Digital. 23 October 2017. Retrieved 23 October 2017.
  23. ^ Festa, Carlo (24 October 2017). "Milan, lo scoop dei tifosi: i soldi dell'aumento prestati a Li con interessi del 14%". Blog. Il Sole 24 Ore (in Italian). Milan. Retrieved 25 October 2017.
  24. ^ "Nuovo prestito a Li Yonghong Ad agosto 7 milioni al 14%". La Gazzetta dello Sport (in Italian). Milan: RCS MediaGroup. 25 October 2017. Retrieved 25 October 2017 – via pressreader.com.
  25. ^ "Zhào wēi fū fù jiǎn chí jīn bǎo bǎo jìn shí 4.9 yì" 趙薇夫婦減持金寶寶 勁蝕4.9億. Apple Daily (in Chinese). Hong Kong: Next Digital. 13 July 2017. Retrieved 23 October 2017.
  26. ^ "Disclosure of interests: FORM 1 - Individual Substantial Shareholder Notice". Hong Kong Exchanges and Clearing Limited. 10 July 2017. Retrieved 23 October 2017.
  27. ^ "UNUSUAL PRICE AND TRADING VOLUME MOVEMENTS; DISPOSAL OF SHARES BY SUBSTANTIAL SHAREHOLDER; AND CHANGE OF SINGLE LARGEST SHAREHOLDER" (PDF) (Press release). Hong Kong: Jin Bao Bao Holdings. 17 June 2016. Retrieved 23 October 2017 – via Hong Kong Exchanges and Clearing Limited.
  28. ^ "2015 Annual Report" (PDF). Hong Kong: Jin Bao Bao Holdings. 7 April 2016. Retrieved 23 October 2017 – via Hong Kong Exchanges and Clearing Limited.
  29. ^ "Joint Announcement" (PDF). Hong Kong: Trend Rich Enterprises c/o Jin Bao Bao Holdings. 21 January 2015. Retrieved 23 October 2017 – via Hong Kong Exchanges and Clearing Limited.
  30. ^ "DISPOSAL OF SHARES BY THE CONTROLLING SHAREHOLDER AND CHANGE OF CHAIRMAN, EXECUTIVE DIRECTOR AND AUTHORISED REPRESENTATIVE DISPOSAL OF SHARES BY THE CONTROLLING SHAREHOLDER" (PDF) (Press release). Hong Kong: Jin Bao Bao Holdings. 22 January 2016. Retrieved 23 October 2017 – via Hong Kong Exchanges and Clearing Limited.
  31. ^ "2014 Annual Report" (PDF). Hong Kong: Jin Bao Bao Holdings. 23 April 2015. Retrieved 23 October 2017 – via Hong Kong Exchanges and Clearing Limited.
  32. ^ "PLACING AND PUBLIC OFFER [Allotment Results]" (PDF). Hong Kong: Jin Bao Bao Holdings. 17 November 2011. Retrieved 23 October 2017 – via Hong Kong Exchanges and Clearing Limited.
  33. ^ "ANNOUNCEMENT: DISPOSAL OF SHARES BY THE CONTROLLING SHAREHOLDER" (PDF) (Press release). Hong Kong: Jin Bao Bao Holdings. 19 January 2016. Retrieved 23 October 2017 – via Hong Kong Exchanges and Clearing Limited.
  34. ^ "Disclosure of interests: FORM 1 - Individual Substantial Shareholder Notice". Hong Kong Exchanges and Clearing Limited. 21 January 2016. Retrieved 23 October 2017.
  35. ^ "Liu Yang". forbes.com. 2012. Retrieved 23 October 2017.
  36. ^ "Disclosure of interests: FORM 1 - Individual Substantial Shareholder Notice". Hong Kong Exchanges and Clearing Limited. 22 December 2015. Retrieved 23 October 2017.
  37. ^ a b "INSIDE INFORMATION: DISPOSAL OF SHARES BY THE CONTROLLING SHAREHOLDER" (PDF). Hong Kong: Jin Bao Bao Holdings. 18 December 2015. Retrieved 23 October 2017 – via Hong Kong Exchanges and Clearing Limited.
  38. ^ "Disclosure of interests: FORM 2 - Corporate Substantial Shareholder Notice". Hong Kong Exchanges and Clearing Limited. 28 June 2017. Retrieved 25 October 2017.
  39. ^ "SUBSCRIPTION OF NEW SHARES UNDER GENERAL MANDATE" (PDF) (Press release). Hong Kong: Jin Bao Bao Holdings. 25 May 2017. Retrieved 25 October 2017 – via Hong Kong Exchanges and Clearing Limited.

External linksEdit