{
  "docId": "019dd923-622c-750b-8b96-4fec9c84ee4f",
  "docSlug": "1b5057c3a25e",
  "documentTitle": "Superb Summit International Group Limited (1228.HK)",
  "authorId": "51_Muddy_Waters",
  "authorName": "Carson C. Block",
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  "sourceTypeSlug": "short_seller",
  "sourceTypeLabel": "Short seller",
  "presentationDate": "2014-11-20 00:00:00",
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      "kind": "callout",
      "text": "It is hard to think of an explanation other than fraud to explain why Superb Summit claims to own a company that it in fact does not own.",
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      "text": "Market Cap: HK$12.3bn",
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      "kind": "paragraph",
      "text": "Almost all of the revenue Superb Summit reported in 2013 and 2012 was likely attributed to Superb Summit’s purported subsidiary Tianjin Libao Coal Trading Company (“Tianjin Libao”).",
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      "text": "Tianjin Libao purportedly enabled Superb Summit to enter the coal trading and logistics business...",
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      "text": "We are short Superb Summit International Group Ltd. (1228.HK, “Superb”) because virtually all of its reported 2012 and 2013 revenue belongs to a different company...",
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      "kind": "source-note",
      "text": "1, 2, 3 footnotes regarding HKEX filings and corporate structure.",
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      "text": "Company: Superb Summit International Group Limited; Industry: Forestry; Report Date: November 20, 2014; Stock Price: HK$1.55; Market Cap: HK$12.3bn; Float: 4.27 Billion; Avg Volume: 22.3 Million",
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      "kind": "title",
      "text": "Superb Summit Reported 2013 Revenue of HK$773.3 million. Its Real Revenue Was Likely Close to Zero.",
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      "kind": "title",
      "text": "Superb Summit (Part I): It's a Long Way Down from Here",
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