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  "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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  "notes": "The slide uses an organizational chart and a historical ownership table to demonstrate a lack of change in control, supporting an argument against Superb Summit's claims.",
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      "kind": "callout",
      "text": "Moreover, Superb Summit has never owned Tianjin Libao.",
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      "text": "Moreover, Superb Summit has never owned Tianjin Libao. The below table shows the history of its ownership from inception.",
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      "text": "It would be ridiculous on its face if Superb Summit were to respond by stating that it merely overlooked perfecting ownership. Very few people in the world would do business that way – especially when the company in question is the only material revenue producing entity of a public company. Putting that to the side though, the lack of any changes to Tianjin Libao's insiders between 2010 and 2014 further indicate there was no change of control. The table below shows the changes to Tianjin Libao's insiders over the years.",
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      "text": "There were no changes to Tianjin Libao's Legal Representative, directors, manager, or supervisor from December 2007 until February 2014. In China, when one company buys another, there are usually changes to at least one of the aforementioned positions – otherwise, it would be hard to actually exercise control of the acquired company.",
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