Thread by @ResearchGrizzly

We believe $HEBT is the quintessential example why we need tighter disclosure and auditing regulations for US-listed Chinese companies. We presented this idea this morning @PodContrarian
Read the full report here: grizzlyreports.com/we-believe-heb…
@breakoutpoint @valuewalk @natbaker

$HEBT stock price has skyrocketed on the back of recent private placements and acquisitions. Problem is: All significant transactions in the last year are undisclosed related party transactions. @ActivistInsight @ActivistShorts @quintessentialcm

SAIC filings indicate that $HEBT legacy financials are completely overstated; For example, from 2016 to 2018, the total SAIC revenues are 80.5% lower compared to SEC financials. On-the-ground due diligence confirms worst suspicions.

At the center of the scheme is $HEBT current biggest shareholder Bodang Liu. We believe $HEBT has engaged in egregious wrongdoings that should result in immediate delisting. @SEC_Enforcement

The companies $HEBT acquired from undisclosed related parties seem entirely worthless. Bodang Liu and insiders received in return cash and stock currently worth over $200m.

. @geoinvesting is the only credible research outfit that talked about $HEBT before. They smelled something was wrong, and we believe @GeoInvesting is entirely right.

Here is a video of our $HEBT presentation from yesterday @PodContrarian @BreakoutPoint @valuewalk