The Chinese Communist Party’s Blank Check Company Yunhong International

Translated by: MOS Translation Team – Lakers

Miles Guo posted several articles on Oct. 22, revealing the CCP background of Yunhong Group.

China YUNHONG Holdings Limited, also known as YUNHONG International, was established in 2013, the chairman of the board of directors is Li Yubao, registered capital of $700 million. Ltd. There are five subsidiaries under Yunhong Holdings Group, including Yunhong Group Co. Ltd., Jingmai ( Hubei ) E-commerce Co., Guozhong Xinhe Biomedicine Technology Co. etc. Among them, Guozhongxinhe is a so-called “big health” company that focuses on the peptide product chain and has become a leading core company in the medical industry. The company has branches and companies in most major cities in China and is incorporated in the U.S., with total revenues of $370 million in 2018. Yunhong International has three subsidiaries, including American Technology Holdings on the Hong Kong Stock Exchange, cti Industries on the NASDAQ, and Yunhong International on the NASDAQ.

SEC filings show that on June 29, 2019, Yunhong Group’s NASDAQ IPO application was approved. YUNHONG International is a Special Purpose Acquisition Company, or SPAC, which has no clear business plan or assets, only cash, and raises capital through an IPO. After the IPO, it needs to seek out quality companies for a certain period of time, usually 24 months, and use its own funds to invest. Since the IPO prospectus does not disclose any specific business plans, potential mergers or acquisitions, investors assume that the management team will invest their money in good companies with potential, so SPAC is also known as a “blank check” company. With no assets or track record, SPACs can only attract investors to buy shares in companies with no track record through the reputation of the management team.

Stay tuned for the following report on Yunhong Group in News Talk.

Reference: 中共的空白支票公司运鸿国际

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