Lihua International Inc fka LIWA

[hondaboost]

Here is WUXI holdings of LIWA:

http://www.otcmarkets.com/edgar/GetFilingHtml?FilingID=10000113

Item 8.01 Other Information.

On May 14, 2014, Ms. Daphne Huang, Chief Financial Officer of Lihua International, Inc. (the “Company”), received a copy of an executed stock purchase agreement (the “Agreement”), dated May 11, 2014, between Magnify Wealth Enterprises Limited, a BVI company (“Magnify Wealth”) and Power Apex Holdings Limited, a BVI company (“Power Apex”). Pursuant to the Agreement, Magnify Wealth sold 13,195,000 shares of common stock of the Company (the “Shares”) in a private transaction to Power Apex. The Shares represent approximately 44% of the total share ownership of the Company. Magnify Wealth’s share ownership was reduced to 155,000 shares of common stock of the Company after the sale. Mr. Zhu, the Company’s former Chairman, CEO and President, is the sole director and sole officer of Magnify Wealth. The shareholders of Magnify Wealth are Mr. Chu Fu Ho and Europe EDC.

Based upon information provided to the Company, Wuxi Industry Development Group Co., Ltd. (“WXIDG”) is an indirect substantial shareholder of Power Apex. WXIDG is a state-owned enterprise of the People’s Republic of China, which was established by the Wuxi City government in 2008. According to information provided to the Company by WXIDG and publicly available information, as of the end of 2013 WXIDG had total assets of approximately RMB 29.4 billion (~$4.7 billion), net assets of approximately RMB 15.5 billion (~$2.5 billion), and was ranked number 210 among the top 500 companies in China.


That says, WXIDG holding 13 Million shares of LIWA or 44%, out of 30 m OS. They will be trying to everything to get their money back or even make money.

LIWA, high as $6.12, now just $0.3, will be bouncing hugely!!!