A series crime across multi years, done by a Mr. Alan Li 李原 , Board Chairman of Pander Green Energy Group Ltd (HK listing code 686) . After Alan Li was outcasted from Panda Green in 2019, then Auditor PricewaterhouseCoopers discovered Alan Li’s huge sum embezzlement from this listed company . Another independant Investigator KPMG was employed to investigate and KPMG confirmed the suspicious activities and reported its findings to Public on 20 July 2020 on HK Exchange website, finally lead Panda Green to report to Hong Kong Commercial Crime Bureau https://www1.hkexnews.hk/listedco/listconews/sehk/2020/0720/2020072000131.pdf
https://www.sohu.com/a/375444854_120247609 标普 2019 年 将熊猫绿能 686 的发行人信用评级为SD 技术性违约，2020 年2月从 技术性违约 SD 上调为CCC-. 在2020年5月却完全撤销评级 withdraw.
Later the delayed 2019 financial result 2019 disclosed that this listed company 686 lost RMB$3,730 Million and a heavy write down of RMB $1,904 million, caused by Alan Li’s criminal acts (see Page 14, 29-32, announced 25 August 2020). A large part of those missing money entered into Alan Li’s pockets in various suspected ways of money laundry. . https://www1.hkexnews.hk/listedco/listconews/sehk/2020/0825/2020082500218_c.pdf
https://finance.sina.com.cn/stock/s/2020-08-19/doc-iivhvpwy1869991.shtml 嫌疑犯李原 监守自盗熊猫绿能公司港币10亿元后，immediately disappeared from Public venue as a fugitive . 有人对外解说称 李原 患了精神病，希望 逃避 香港警方 商业罪案调查科 的追查？
This Company 686 reported this serious crime to Hong Kong Commercial Crime Bureau CCB on Sept 2020, see below public announcement. https://www1.hkexnews.hk/listedco/listconews/sehk/2020/0928/2020092802046.pdf
https://www.pv-magazine.com/2020/07/20/kmpg-finds-hk12m-of-missing-panda-green-deposits-ended-up-in-former-ceos-account/ Other commentators found this scandal amazing.
If anyone help to laundry the crime money, they could be liable too. 根据法律，使用或 协助 洗黑钱等同洗黑钱。
右一，嫌疑携款潜逃的李原。 至2023 年8 月香港警方商业调查科仍在调查此案。.
2017 年 李原 仍然是熊猫绿能董事会主席及 CEO 时， 利用熊猫绿能的资源大肆包装自己的女儿在 Youtube 上有几个访问。李原 未想到自己偷盗 巨款 事被发现，使得 公开曝过光的女儿蒙羞。 https://www.rmzxb.com.cn/c/2017-07-24/1675028.shtml
This embezzlement crime case is still under investigation by HK CCB police, not sure if Alan Li ever surrendered to HK CCB police . Anyone who knows Alan Li’s whereabout should report to HK CCB Police asap .
Another much earlier case by the same suspect Alan Li Yuan 李原， happened to another HK Gem listed company 8111, in December 2010。 Alan Li together with his conspirators 曾祥义，王大玲 (both were Executive Director of 8111 , and a dummy for Alan Li ) and 任宝根， to use 8111 company cash HK$30 millions to buy Alan Li’s own penny stock CTDC secretly at per share price US$2.866 (soon fall to US$0.05). It was disclosed in a Hongkong High Court case HCA 3017/2016. Plaintiff is China Technology Solar Power Holdings Limited ( HK listed code 8111, later changed name to China Technology Industry Group Ltd ) , defendant is Mr. Alan Li 李原 and Li’s 3 associates two of which were Executive Directors in 8111 . Plaintiff accused Alan Li using company’s money to secretly buy Li’s US penny stock China Technology Development Corporation (Nasdaq code CTDC ,renamed to Pinksheet EBODF as at Sept 2022). Alan Li still is major shareholder of this penny stock CTDC on Sept 2022.
In the HCA 3017/2016 case, an unusual and suspicious thing happened. A Mr. Chiu Tung Ping 赵东平 who is Executive Director, Chairman, CEO of plaintiff China Technology Solar Power Holdings limited coded 8111 , has deep historical relationship with Alan Li. Chiu Tung Ping tried very hard to manipulate the trial of Alan Li in the HCA 3017/2016 case , indirect evidence that Chiu could have played a role in Alan Li’s crime process.
Chiu Tung Ping was a major shareholder of Nasdaq listed China Technology Development Corp code CTDC ( later delisted to pink sheet and changed code to EBODF ). https://www.sec.gov/Archives/edgar/data/1027454/000114554906001660/h00872e6vk.htm page 119-151. )
BVI company Eastern Ceremony Group Limted 100% owned by Chiu Tung Ping 赵东平 and his wife , own about 10% of CTDC in 2009, https://www.sec.gov/Archives/edgar/data/1027454/000095012309017679/h03453e20vf.htm page 43. Prima facie evidence that Chiu Tung Ping was connected to CTDC, but Chiu Tung Ping lied about this in a legal statement (source :Affirmation of Hu Xin in HCMP 2257/2017 high court action) . A clear sign that Chiu Tung Ping probably involved in the same theft case by knowing it ahead of the event of Dec 2010 of buying CTDC penny stock.
Disatisfied other shareholders of 8111 try to correct this by a shareholder derivative action HCMP 2257/2017 against this Plaintiff China Solar Power Holdings Ltd code 8111 . The first derivtive action was settled by Court Consent Order . A second derivative action against listed company 8111, to force Mr. Chiu Tung Ping to pursue legal case against Alan Li in the name of 8111, started and finally failed , HCMP 1880/2019. https://legalref.judiciary.hk/lrs/common/search/search_result_detail_frame.jsp?DIS=132141&QS=%2B%7C%28HCMP1880%2F2019%29&TP=JU
And a appeal CACV 650/2020 failed too , both cases failed not because the facts are not true, but because difficult to convincing judge due to insufficient physical evidences. https://legalref.judiciary.hk/lrs/common/search/search_result_detail_frame.jsp?DIS=139579&QS=%2B%7C%28CACV%2C650%2F2020%29&TP=JU
CMS PE One story. Apr 2009, CMS PE One invested US$10 millions CB in CTDC, but converted to common shares earlier than contract allowed, in Nov 2009, not a logical step. Those US$10 million totally lost to Zero, but the truth is, it is not lossed as normal business, but laundried by Alan Li into his own pockets and those conspirators memtioned in this websites, who co-operated with him .
Oct 2012 finished consolidation of 10 for one. https://www.sec.gov/Archives/edgar/data/1027454/000130901412000666/exhibit1.htm 8111 owned CTDC with cost US$2.866×10=US$28.66, Compared with its final price US$0.05, a falling of 99%. That is the dirty way of Alan LI make his wealth by criminal acts. Later the same pattern happened in Panda Green 686, with even larger amount.
Panda Green company absorb capital from innocent investors, of over HK$ tens of billions, , a large parts of those money were used to pay faked acquisitions and buyback Panda Green stocks owned by Alan Li illegally. Alan Li employed tens of dummy shareholders who hold those stocks on trust for him, secretly of course. And that is what happened in the sudden exposure of May 2020 by then auditor PricewaterhouseCoopers.
11 Feb 2013, CTDC voluntarily withdraw from Nasdaq https://www.sec.gov/Archives/edgar/data/1027454/000119312513047376/d480095d25.htm
In 2017, A US PE company named Esplanade Capital , was mislead by the accounting books of CTDC and Pandagreen, publish a open letter to New Energy Exchange Ltd code EBODF, publicly asking EBODF (previous CTDC) to distribute Panda Green stocks to shareholder of EBODF. It was just a joke, all the investments in EBODF becomes value Zero, by SEC Rule 15c2-11 of Securities Exchange Act of 1934, EBODF was not allowed to trade by Public since 28 Sept 2021. https://www.schwab.com/resource/15c2-11-FAQs .
One thing that the Board of EBODF cannot explain : Even today in Aug 2022 EBODF should still own assets of 460 million shares of Panda Green 686 , with a market cap of US$13 millions ( 460 m times HK$0.22 per share ) , but the total market cap of EBODF is only US$0.14 million (2.72m shares outstanding times last closing US$0.05 ）. This har to believe 90 times difference is why the American Fund were traped. This is another real evidence of fraud . https://www.bloomberg.com/press-releases/2017-08-28/esplanade-capital-issues-open-letter-to-the-board-of-new-energy-exchange-limited-urging-company-to-distribute-shares-of-686-hk
https://www.reuters.com/markets/companies/EBODF.PK/ Latest funny quotation upto Aug 2022 ,with long time Zero transaction .
The above cases about various serious crime, fraud, theft, embezzlement, misconduct, breach of fiduciary duty, torts, involved several senior management persons in 3 listed companies. China Technology Solar Power Holdings Limited code 8111 , Panda green Energy Group Limited code 686, China Technology Development Corporation coded CTDC in Nasdaq ( EBODF in Pinksheet).
https://www.hkex.com.hk/Listing/Disciplinary-and-Enforcement/Request-for-Assistance?sc_lang=en 香港联交所公开呼吁 公众帮忙 追查李原 的下落 ，并与 于2021 年 7 月 23 日 发出 追查 通告。直到2022 年 8 月底，没有进一步消息。https://www.hkex.com.hk/Listing/Disciplinary-and-Enforcement/Request-for-Assistance?sc_lang=zh-HK 中文
If Anyone， especially including Mr. Alan Li 李原 himself, claim the above accusations are not true, or anyone wish to exchange information with us , please email to [email protected]. We will do our best to keep Facts as accurate as possible, now Facts updated end August 2022.