CHINA ENVIRONMENT’s CEO, Huang Min, bought 360,000 shares of his company last Wednesday at $0.22514 a share.
That came about 2 weeks after the company announced that for 1H ended 30 June, its net profit of RMB55.8 million (approximately S$11.4 million) and revenue of RMB330.6 million (approximately S$67.6 million) were higher by 24.6% and 43.5% year on year, respectively.
The share performance has been lackluster, giving the CEO an opportunity to raise his stake in the company to 243,788,000 shares, or 38.12%, last week.
His previous purchase was in June when he bought 1,018,000 shares at 19.5 cents.
Around the same time in June, another major shareholder, Ma Ong Kee, scooped up 831,000 shares.
Mr Ma now owns 25% of China Environment, which provides waste gas treatment systems in the PRC.
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Last week, we highlighted the buying of Sinopipe Holdings shares by Dr Pu Weidong, a fund manager who was previously CFO at Sinomem Technology until the end of 2009.
We said that his fund – Triumpus Capital – has emerged as a new substantial shareholder with a stake of 5.5%.
Since then the stock has not budged, staying put at 17 cents.
Dr Pu has continued his buying, loading up 535,000 shares last Wednesday – and then another 754,000 shares last Friday.
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