{
  "docId": "019dd923-622c-750b-8b96-d2366ed75e04",
  "docSlug": "4e8802588ba6",
  "documentTitle": "ANTA Sports Products Limited (2020.HK)",
  "authorId": "51_Muddy_Waters",
  "authorName": "Carson C. Block",
  "documentKindSlug": "research-note",
  "documentKindLabel": "Research note",
  "sourceTypeSlug": "short_seller",
  "sourceTypeLabel": "Short seller",
  "presentationDate": "2019-07-08 00:00:00",
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  "pageNumber": 16,
  "pageCount": 92,
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  "notes": "The slide uses a scanned document (likely an ID or employment record) to prove that Ding Qingliang was employed by ANTA (China) Ltd. during a period the company claimed he was working elsewhere.",
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    {
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      "kind": "callout",
      "text": "The problem is this disclosure was misleading (or even an outright lie).",
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      "kind": "image",
      "text": "Scanned employment record showing Ding Qingliang's history at Anta (China) Ltd from 1996-2006.",
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      "kind": "paragraph",
      "text": "Interestingly, ANTA's 2007 prospectus purported to disclose Ding Qingliang's employment history prior to establishing GZ Anda. The problem is this disclosure was misleading (or even an outright lie).",
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      "kind": "paragraph",
      "text": "GZ Anda. In fact, his shareholdings remained constant until 2017, when his ownership actually increased to 41.25%. Ding Qingliang remained the General Manager through 2017, and today continues to own 41.25% of the entity.",
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      "kind": "source-note",
      "text": "SAIC filings show Mr. Ding was General Manager from inception to present. ANTA prospectus, p.88",
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      "arcName": "Overcoming the Monster",
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