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词条 China Metal Recycling
释义

  1. History

  2. See also

  3. References

  4. External links

{{about|the recycling company|the practice of recycling in China|Recycling#Recycling in China}}{{Infobox company
| name = China Metal Recycling (Holdings) Limited
中国再生金属资源(控股)有限公司
| logo = Chinametalrecycling.png
| type = Privately owned company
| genre =
| foundation = 2000
| founder =
| location_city = Guangzhou, Guangdong
| location_country = People's Republic of China
| location =
| origins =
| key_people = Chairman: Mr. Chun Chi-wai
| area_served = People's Republic of China
| industry = Recycling industry
| products =
| services =
| revenue =
| operating_income =
| net_income =
| num_employees =
| parent =
| divisions =
| subsid =
| owner =
| company_slogan =
| homepage = China Metal Recycling (Holdings) Limited
}}

China Metal Recycling (Holdings) Limited ({{hkex|773}}) was a company that at one time claimed to be the largest recycler of scrap metal in Mainland China by revenue.[1] Based in Guangzhou, Guangdong, it was mainly engaged in collecting scrap steel, scrap copper and other scrap metals and processing them using equipment to produce recycled scrap metals for its customers.[2] Its recycling facilities were located in Guangdong, Jiangsu and Hong Kong.[3] The company was wound up and de-listed after accounting fraud surfaced.

History

The company was established in 2000. The company was listed on the Hong Kong Stock Exchange in June 2009 with the IPO price of HK$5.15 per share.[4] Its stock price was closed at HK$6.44 at the first trading day, 24% higher than its IPO price.[5] On 17 November 2009, its price suddenly plunged 24%, the most since listing, as its Chief Financial Officer, Wong Hok-leung, resigned after saying he was denied information.[6]

Trading in the shares of the Company on the Stock Exchange was halted from 9:17 a.m. on 28 January 2013. American short-seller Glaucus Research Group said that "CMR purports to be the largest scrap metal recycling company in China. We believe this is a lie. Publicly accessible import data from the Chinese government suggests CMR is a blatant fraud that has deceived the market about the size of its business." Chun Chi Wai, the Chairman and Chief Executive Officer of the Company, announced that he had engaged legal advisers to initiate legal proceedings against Glaucus.[7][8]

The Securities and Futures Commission won a court order in February 2015 to wind up the company, and the company was delisted from SEHK in December 2015 for "obtaining its initial listing by fraud."[9]

See also

  • China Medical Technologies
  • List of companies of China

References

1. ^[https://www.bloomberg.com/apps/news?pid=20601089&sid=aPhxCXekzEO4 China Metal Recycling Seeks $200 Million H.K. IPO]
2. ^China Metal Recycling Holdings Limited {{webarchive|url=https://web.archive.org/web/20110717141126/http://www.corporateinformation.com/Company-Snapshot.aspx?cusip=C156HKC60 |date=17 July 2011 }}
3. ^China Metal Recycling (Holdings) Ltd
4. ^China Metal Recycling prices IPO at the top
5. ^China Metal Recycling jumps 24% in Hong Kong debut
6. ^[https://www.bloomberg.com/apps/news?pid=20601080&sid=aEyfUfRgs8c4 China Metal Recycling Plunges as CFO Wong Resigns]
7. ^ 
8. ^[https://glaucusresearch.com/wp-content/uploads/downloads/2013/01/GlaucusResearch-China_Metal_Recycling_Holdings_Ltd-HK0773-Strong_Sell_January_28_2013.pdf]
9. ^{{Cite web|url=http://www.scmp.com/business/companies/article/1896775/stock-exchange-delist-china-metal-recycling-fraud|title=Hong Kong stock exchange to delist China Metal Recycling for ‘obtaining listing by fraud’|access-date=2016-07-29}}

External links

  • China Metal Recycling (Holdings) Limited
{{Metal companies of China}}{{Use dmy dates|date=February 2013}}

7 : Companies listed on the Hong Kong Stock Exchange|Chinese companies established in 2000|Companies based in Guangzhou|Metal companies of China|Privately held companies of China|Waste management companies of China|Recycling in China

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