New Family Coverage – Lee/Leelalertsuphakun family; Lee’s Pharmaceutical, ROY Ceramics

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Capital Profile has started the coverage of the Hong Kong-based, Thai-Chinese Lee/Leelalertsuphakun family, which is behind HKEX-listed bio-pharmaceutical business Lee’s Pharmaceutical Holdings, which manufactures and sells medicines in China.

Three siblings Alice Lee Siu Fong, Leelalertsuphakun Wanee and Benjamin Li Xiaoyi sit on the board as chairwoman, managing director and CEO of the company, respectively. Together, they controlled 30.05% of the listco as at the end-2015.

Before the family entered the pharmaceutical industry, it was best known for HKEX-listed Siu-Fung Ceramics Holdings, founded by Siegfried Lee Siu Fung. The company was wound up at the behest of banks in the late 1990s. Siegfried Lee has since re-emerged as chairman and CEO of Frankfurt-listed ceramic sanitaryware maker ROY Ceramics, where his son and daughter are shareholders.

Capital Profile covers 10 members of the Lee/Leelalertsuphakun family and 15 related companies.

Li Hejun steps down as Hanergy Thin Film Power Group chairman

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HKEX-listed solar power company Hanergy Thin Film Power Group announced on 20 May the resignation of three directors, including chairman Li Hejun, to “strengthen corporate governance”.

Li remains chairman of parent company Hanergy Holdings Group, according to a clarification issued the following day, which reiterated the board changes were “normal organisational and personnel changes”. Trading of HTF shares has been suspended for over a year after a sudden fall in the stock’s price.

Capital Profile covers five members of the Li Hejun family and 22 related companies.

Jack Ma-chaired Alibaba announces investigation into accounting practices

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Chinese e-commerce firm Alibaba Group announced on 24 May the US Securities and Exchange Commission (SEC) was investigating the company’s accounting and other practices.

According to the filing, the SEC requested that Alibaba voluntarily provide the regulator with documents and information relating to the company’s consolidation policies and practices, including its accounting for Cainiao Network as an equity method investee.

Capital Profile covers two family members and 63 related companies.

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