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  "documentTitle": "ANTA Sports Products Limited (2020.HK)",
  "authorId": "51_Muddy_Waters",
  "authorName": "Carson C. Block",
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  "sourceTypeSlug": "short_seller",
  "sourceTypeLabel": "Short seller",
  "presentationDate": "2019-07-08 00:00:00",
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  "notes": "Includes specific references to prospectus pages 16, 20, 61, 112, 114, 118.",
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      "text": "We consider this list of originally appointed family representatives to be an indication of their close and long-standing ties to the founding families.",
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      "text": "Anta (Fujian) Shoes Industry is described in the prospectus as a private company outside of the Listco’s structure, held 40% by Ding Siren and 60% by Jinjiang Shifa.",
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      "text": "After the public listing, Anta (Fujian) reportedly ceased its sportswear business operations; however, as can be seen below, its representative offices registration on the SAIC remains open. The SAIC registry listings for the Anta (Fujian) Shoes Industry Representative Offices are shown below and their status is still “active”.",
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      "kind": "paragraph",
      "text": "“ANTA Fujian”\n安踏(福建)鞋業有限公司 (ANTA (Fujian) Shoes Industry Co., Ltd.), a sino-foreign equity joint venture incorporated under the laws of the PRC on July 30, 1994, the equity interests of which are held as to 40% by Mr. Ding Siren and 60% by Jinjiang Shifa",
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      "kind": "paragraph",
      "text": "“Jinjiang Shifa”\n晉江世發輕工有限公司 (Jinjiang Shifa Light Industry Co., Ltd.*), formerly known as 晉江市陳埭岸兜求質皮鞋廠 (Jinjiang Chendai Andou Qiuzhi Leather Shoe Factory*), a limited liability company incorporated under the laws of the PRC on April 6, 1988, which changed its name to the current name on September 28, 2004 and the equity interests of which are held as to 60% by Mr. Ding Hemu (father of Mr. Ding Shizhong), 10% by Mr. Ding Shizhong, 10% by Mr. Ding Shijia (brother of Mr. Ding Shizhong), 10% by Ms. Ding Youmian (spouse of Mr. Ding Shizhong) and 10% by Ms. Ding Liming (spouse of Mr. Ding Shijia)",
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      "kind": "paragraph",
      "text": "We consider this list of originally appointed family representatives to be an indication of their close and long-standing ties to the founding families. Although their titles may have changed, their deep connection to the founding families and roles expanding the businesses networks continued – either individually and/or via their own proxies.",
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      "text": "The prospectus explains that Jinjiang Shifa is owned by Ding Hemu, Ding Shizhong, Ding Shijia, and their wives, Ding Youmian (daughter of Ding Siren) and Ding Liming.",
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      "kind": "source-note",
      "text": "93 Anta Prospectus, pp.16, 61, 112, 114, 118\n94 Anta Prospectus, pp. 20, 61, 118\n95 Anta Prospectus, pp. 112, 114",
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      "kind": "title",
      "text": "Appendix A\nAnta (Fujian) Shoes Industry & Its National Rep Offices",
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