February 28, 2015 12:08 PM ET

Leisure Products

Company Overview of China Tycoon Beverage Holdings Limited

Company Overview

China Tycoon Beverage Holdings Limited, an investment holding company, manufactures and trades hard and stuffed toys. The company is also involved in manufacturing and selling beverage products; and investment in equity securities. It has operations Hong Kong, the People’s Republic of China, the United States, Canada, Japan, and Europe. The company was formerly known as Sewco International Holdings Limited and changed its name to China Tycoon Beverage Holdings Limited in January 2011. China Tycoon Beverage Holdings Limited was founded in 1980 and is headquartered in Wanchai, Hong Kong.

Great Eagle Centre

Suite 1510

15th Floor

23 Harbour Road

Wanchai,  

Hong Kong

Founded in 2001

3,990 Employees

Phone:

852 3919 9288

Fax:

852 3919 9299

Key Executives for China Tycoon Beverage Holdings Limited

China Tycoon Beverage Holdings Limited does not have any Key Executives recorded.

China Tycoon Beverage Holdings Limited Key Developments

China Tycoon Beverage Holdings Limited Provides Earnings Guidance for the Year Ended 31 December 2014

China Tycoon Beverage Holdings Limited board of directors announced that, based on a preliminary review of the Group's unaudited management accounts for the eleven months ended 30 November 2014 and taking into account, among other things, the securities investments reportable segment results for the year ended 31 December 2014; and the recognition of share-based payment expenses as a result of the grant of share options as announced by the company on 30 December 2014, the Group is expected to record a substantial increase in loss for the year ended 31 December 2014 as compared to the loss for the year ended 31 December 2013. Such expected substantial increase in loss is mainly attributable to: substantial decrease in gross profit margin of the manufacturing and trading of hard and stuffed toys reportable segment for the eleven months ended 30 November 2014 due to intensive market competition and the continuing rise of production costs; the recognition of share-based payment expenses, which is a non-cash expense, of approximately HKD 15.0 million based on a preliminary valuation obtained from an independent professional valuer; and loss on the securities investments reportable segment of approximately HKD 17.3 million for the year ended 31 December 2014. It is expected that the Group's loss for the year ended 31 December 2014 will be increased substantially as compared to the loss for the year ended 31 December 2013 (HKD 46.8 million).

China Tycoon Beverage Holdings Seeks Acquisitions

China Tycoon Beverage Holdings Limited (SEHK:209) has filed a follow-on equity offering in the amount of HKD 79.80 million. A portion of the proceeds will be used future potential acquisitions which are yet to be identified or finalized.

China Tycoon Beverage Holdings Limited Appoints Deloitte Touche Tohmatsu as Auditor Replacing Crowe Horwath (HK) CPA Limited

The board of directors of China Tycoon Beverage Holdings Limited announced that Crowe Horwath (HK) CPA Limited has resigned as the auditor of the Group with effect from 9 December 2014. The Board has resolved to propose the appointment of Deloitte Touche Tohmatsu as the new auditor of the Group to fill the casual vacancy following the resignation of Crowe Horwath and to hold office until the conclusion of the next annual general meeting of the company. The reason for Crowe Horwath's resignation is because the company could not reach a consensus with Crowe Horwath on the audit fees for the year ending 31 December 2014.

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Recent Private Companies Transactions

Type
Date
Target
Merger/Acquisition
September 15, 2014
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