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  "docSlug": "22d57fb06f7f",
  "documentTitle": "ANTA Sports Products Limited (2020.HK)",
  "authorId": "51_Muddy_Waters",
  "authorName": "Carson Block",
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  "sourceTypeSlug": "short_seller",
  "sourceTypeLabel": "Short seller",
  "presentationDate": "2019-07-09 00:00:00",
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      "text": "Only an idiot could believe that Chairman Ding and his cohorts intended anything other than theft of assets from shareholders.",
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      "kind": "paragraph",
      "text": "explained in Part 1, Yundong is the heart of ANTA's distributor fraud, as it is the company Chairman Ding uses to exert his control over the “subsidiary” distributors.",
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      "text": "ANTA used IPO proceeds to significantly grow Fengxian, to the point at which it generated 6.0% of 2H 2007 sales and apparently was rapidly growing. It then used an obvious straw buyer to strip this asset from the ListCo, and put it into the hands of ANTA's network of proxies. Only an idiot could believe that Chairman Ding and his cohorts intended anything other than theft of assets from shareholders.",
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      "text": "In June 2008, Hesheng transferred Shanghai Fengxian's Guangzhou and Xiamen subsidiaries to Ding Kunming. In Part 1, we showed that Ding Kunming is part of the network of proxies ANTA uses to control its distributors (Quanzhou Binhui and Kunming Anchi). Once again, the disposal was a corrupt transaction involving undisclosed related parties.",
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