#Newspaper #OpinionArticle
Making abnormal profits in the Pandemic: CCP makes big money from selling ventilators 1/2
(9 Apr) The share price of Shenzhen Mindray Bio-Medical Electronics Co. Ltd. has skyrocketed by 50%. To increase profits, it used pro-Beijing media to advocate that the global demand of ventilators is reaching a million. New York State, alone, needs 60,000 units. By exaggerating demand, the company seeks to create the illusion of supply shortage to justify price inflation. How does the CCP play a part in mercantile predation? The Foreign Minister of the PRC Wang Yi called the Foreign Minister of Switzerland, requesting that the latter increase its supply of critical spare parts for manufacture of ventilators in China. The conversation exposed how the CCP cannot make the qualified spare parts themselves. However, the CCP can manipulate the trading of ventilators. Switzerland sells the essential spare parts to China at a cost demanded by the CCP on "humanitarian" basis. However, the predicament is it will effectively facilitate the CCP in making abnormal profits.
News has been surfacing around the world of the CCP soliciting the sale of medical supplies at high prices while holding out and being 'the white knight' to other countries in the pandemic crisis.
Excerpt: Facebook
https://www.facebook.com/yhmetblogspot/posts/3101215879928529
#CCP #Pandemic #Ventilator #Shenzhen #MindrayBioMedicalElectronics #MedicalSupplies #AbnormalProfit #ChinaInfluence #SharpPower
Making abnormal profits in the Pandemic: CCP makes big money from selling ventilators 1/2
(9 Apr) The share price of Shenzhen Mindray Bio-Medical Electronics Co. Ltd. has skyrocketed by 50%. To increase profits, it used pro-Beijing media to advocate that the global demand of ventilators is reaching a million. New York State, alone, needs 60,000 units. By exaggerating demand, the company seeks to create the illusion of supply shortage to justify price inflation. How does the CCP play a part in mercantile predation? The Foreign Minister of the PRC Wang Yi called the Foreign Minister of Switzerland, requesting that the latter increase its supply of critical spare parts for manufacture of ventilators in China. The conversation exposed how the CCP cannot make the qualified spare parts themselves. However, the CCP can manipulate the trading of ventilators. Switzerland sells the essential spare parts to China at a cost demanded by the CCP on "humanitarian" basis. However, the predicament is it will effectively facilitate the CCP in making abnormal profits.
News has been surfacing around the world of the CCP soliciting the sale of medical supplies at high prices while holding out and being 'the white knight' to other countries in the pandemic crisis.
Excerpt: Facebook
https://www.facebook.com/yhmetblogspot/posts/3101215879928529
#CCP #Pandemic #Ventilator #Shenzhen #MindrayBioMedicalElectronics #MedicalSupplies #AbnormalProfit #ChinaInfluence #SharpPower
Making abnormal profits in the Pandemic: Shenzhen Mindray Bio-Medical Electronics Co. Ltd. (Mindray) and its executive management 2/2
Mindray was founded in 1991 as a "global supply leader" of medical equipment. The company was listed in USA in 2006 but subsequently delisted in 2016 to list as an A-share company in China. Its assets were valued at US$ 3.3 billion at the time. In Oct 2018, Mindray was relisted on NASDAQ. Since then, its asset value has grown 8-9 fold to over US$ 170 billion.
One of the company's founders, current major shareholder and managing director- Li Xiting - worked for the Wuhan Institute of Physics and Mathematics, specialising in physics. [The institute's website shows Life Science as one of the state priorities.] He was a visiting scholar at the French National Centre for Scientific Research for three years.
Mindray is nicknamed the "Huawei" of the pharmaceutical and medical equipment sectors. Mindray’s gold fortune is a typical case of state-backed policy chipping away at other global medical equipment suppliers.
Mindray has been implicated in years of lawsuits involving patients' rights with other companies in the industry. They include Shenzhen Edan Instruments Inc, Masimo [an American manufacturer of non-invasive patient monitoring technologies and pulse oximetry supplied to hospitals] and Shenzhen Comen.
Even though overseas sales of medical equipment make up of a major part of Mindray’s profits, there was very little detail on its overseas businesses. There are many mysterious and suspicious aspects from even the disclosed portions of its financial statements.
The executive leadership of Mindray - including the CEO, executive managing directors, independent executive directors and the Financial Director - did not attend the 2019 AGM (annual general meeting). There was no explanation as to why the AGM was delayed for 10 minutes. The company secretary Li Wenmei was impatient with questions about cash incentive schemes from minority shareholders. She accused 100 of the minority shareholders present at AGM as "scrupulous scum" because they held less than 100 shares each. The angered shareholders subsequently criticised that Mindray’s 2019 AGM breached the requirements for listing rules. They also criticised the constitution of the company for convention of the AGM's failing to provide essential information to investors. Li was forced to issue a written apology afterwards.
Despite this, Li Wenmei’s remuneration package rose 1.3 times from 2017 to 2018, earning her 4.0853 million Yuan. Given her limited working experience in the science sector, the PRC media speculated that Li Wenmei [who has permanent HK citizenship] may be Li Xiting's [the founder] daughter. The latter holds Singaporean citizenship.
Sources: Sohu, IFeng Finance
#Pandemic #LiWenmei #LiXiting #Shenzhen #MindrayBioMedicalElectronics
Mindray was founded in 1991 as a "global supply leader" of medical equipment. The company was listed in USA in 2006 but subsequently delisted in 2016 to list as an A-share company in China. Its assets were valued at US$ 3.3 billion at the time. In Oct 2018, Mindray was relisted on NASDAQ. Since then, its asset value has grown 8-9 fold to over US$ 170 billion.
One of the company's founders, current major shareholder and managing director- Li Xiting - worked for the Wuhan Institute of Physics and Mathematics, specialising in physics. [The institute's website shows Life Science as one of the state priorities.] He was a visiting scholar at the French National Centre for Scientific Research for three years.
Mindray is nicknamed the "Huawei" of the pharmaceutical and medical equipment sectors. Mindray’s gold fortune is a typical case of state-backed policy chipping away at other global medical equipment suppliers.
Mindray has been implicated in years of lawsuits involving patients' rights with other companies in the industry. They include Shenzhen Edan Instruments Inc, Masimo [an American manufacturer of non-invasive patient monitoring technologies and pulse oximetry supplied to hospitals] and Shenzhen Comen.
Even though overseas sales of medical equipment make up of a major part of Mindray’s profits, there was very little detail on its overseas businesses. There are many mysterious and suspicious aspects from even the disclosed portions of its financial statements.
The executive leadership of Mindray - including the CEO, executive managing directors, independent executive directors and the Financial Director - did not attend the 2019 AGM (annual general meeting). There was no explanation as to why the AGM was delayed for 10 minutes. The company secretary Li Wenmei was impatient with questions about cash incentive schemes from minority shareholders. She accused 100 of the minority shareholders present at AGM as "scrupulous scum" because they held less than 100 shares each. The angered shareholders subsequently criticised that Mindray’s 2019 AGM breached the requirements for listing rules. They also criticised the constitution of the company for convention of the AGM's failing to provide essential information to investors. Li was forced to issue a written apology afterwards.
Despite this, Li Wenmei’s remuneration package rose 1.3 times from 2017 to 2018, earning her 4.0853 million Yuan. Given her limited working experience in the science sector, the PRC media speculated that Li Wenmei [who has permanent HK citizenship] may be Li Xiting's [the founder] daughter. The latter holds Singaporean citizenship.
Sources: Sohu, IFeng Finance
#Pandemic #LiWenmei #LiXiting #Shenzhen #MindrayBioMedicalElectronics
Sohu
鄙视“100股小股东参会”的董秘，背景惊呆吃瓜群众~_李文楣
从道歉信内容来看，李文楣反思了自己工作的不当，“我作为公司董事会秘书，未能在股东大会现场及时协助公司管理层充分回答股东问题，因本人未能和与会股东做好充分沟通，导致现场发表了一些不当言论。 …