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On January 22, Foreign Ministry Spokesperson Guo Jiakun held a regular press conference. A reporter from Iraqi Rudao TV asked, "A Syrian Foreign Ministry official stated that the Chinese government has not yet formally requested the Syrian government to repatriate members of the East Turkistan Islamic Movement (ETIM). What is Chinas response to this?" Guo Jiakun responded, "The ETIM is a terrorist organization recognized by China in accordance with the law and listed by the UN Security Council. Syria has pledged not to allow any entity to use Syrian territory to engage in activities that harm Chinas security, sovereignty, and interests."January 22 – Foreign Ministry Spokesperson Guo Jiakun held a regular press conference on January 22. An AFP reporter asked about US President Trumps scheduled signing ceremony for the "Peace Commission" in Davos, Switzerland today, noting that approximately 35 of the 50 invited leaders have accepted the invitation. What is Chinas comment on this? Is China considering participating? "We have already answered the question about the Peace Commission, and we have no further information to add at this time," Guo Jiakun said.On January 22, in response to remarks made by a NATO spokesperson regarding Greenland, Foreign Ministry spokesperson Guo Jiakun stated at a regular press conference that China consistently advocates handling relations between countries in accordance with the purposes and principles of the UN Charter. The so-called "China threat" is baseless, and China opposes fabricating baseless accusations and using China as a pretext for pursuing selfish interests.On January 22, Goldman Sachs issued a research report, raising its earnings forecasts for Hua Hong Semiconductor (01347.HK) by 1% for 2027 to 2029, citing recent signs of price increases. This upward revision is primarily based on a more optimistic revenue outlook (2027-2029 forecasts increased by 1% to 2%). Goldman Sachs expects stronger revenue growth, as demand for specialty technology chips (such as power management ICs and image sensors) will also benefit from growth in AI servers and AI intelligent edge devices. With continued high capacity utilization, the bank anticipates Hua Hong will have more room to optimize its order structure, leading to stronger revenue and profit performance. As a leading wafer foundry in China, Goldman Sachs expects Hua Hong to directly benefit from the demand recovery trend, with its solid gross margin improvement and optimized capacity utilization indicating stronger earnings per share growth potential. The bank reiterated its "Buy" rating on Hua Hong Semiconductor and raised its target price from HK$117 to HK$134.On January 22nd, BOC International issued a research report stating that Pop Marts (09992.HK) share price has been under pressure since the end of 2025 due to market concerns about the waning popularity of Labubu and slowing growth. However, the bank believes that most concerns are an overreaction, and the share buyback program initiated by the company on January 19th should restore market confidence. Furthermore, Pop Marts financial report disclosed that it repurchased 500,000 shares in Hong Kong yesterday. BOC International expects that with the launch of new products, Labubu will remain a key pillar in sales this year, while other IPs will also improve their performance as overseas consumers become more familiar with them. Therefore, the bank still believes that Pop Mart will maintain strong momentum in overseas expansion and expects revenue and net profit to achieve strong year-on-year growth of 32.8% and 37.6% respectively this year, based on a 2026 forecast P/E ratio of 20. The target price was lowered from HK$405.6 to HK$291.9, but the "Buy" rating was reiterated.

Ex-CFO pleads guilty to stealing from SPACs to trade meme stocks, cryptocurrencies

Skylar Shaw

Jan 04, 2023 14:13

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An ex-chief financial officer (CFO) of several special purpose acquisition companies (SPACs) pled guilty to stealing more than $5 million from them and losing almost all of it in joke stocks and cryptocurrencies.


Tuesday in federal court in Manhattan, Cooper Morgenthau, 35, of Fernandina Beach, Florida, entered a plea of guilty to one count of wire fraud. The judge was U.S. District Judge Paul Engelmayer.


When Morgenthau is sentenced on April 25, the suggested federal guidelines call for a jail term of between six and seven and a half years.


The U.S. Securities and Exchange Commission also resolved related civil allegations against him in exchange for his agreement to lose $5.11 million and pay an equivalent amount in restitution.


A representative for Morgenthau, Michael Bowen, refused to comment.


According to the authorities, Morgenthau stole more than $1.2 million from African Gold Acquisition Corp between June 2021 and August 2022, covered it up by fabricating account statements, and either spent it all in securities trading or lost it all.


The SEC said that Morgenthau then solicited $4.7 million from investors in SPACs known as Strategic Metals Acquisition Corp to make up for his losses, only to lose the majority of it in cryptocurrency trading.


African Gold, a New York-based company formed to purchase a gold mining company, raised $414 million in an IPO in February 2021.


According to the SEC, it dismissed Morgenthau in August of last year when he ran out of money and its suppliers refused to do business with him.


At the time, African Gold said that it fired Morgenthau after becoming aware of his "improper withdrawals" and efforts to hide them.


According to a statement from Manhattan U.S. Attorney Damian Williams, Morgenthau "confessed that he betrayed the trust that he owed to his public and private investors."