Anwell Technologies was a Hong Kong based manufacturer of organic light-emitting diodes which listed on the Singapore exchange in 2004. Shortly thereafter, financial performance deteriorated raising suspicions that profits had been manufactured to facilitate a listing. In August 2013, the company's shares were suspended following disclosure that its executive directors and the group financial controller had been requested to assist with an investigation conducted by public security officials in China. The company then defaulted on close to HK$400m of loans in October. In July 2014, it was disclosed that Anwell had entered into two agreements with local governments but had resorted to fabricating its capital contribution of RMB1bn. In October 2017, the company and its executives were found guilty.

Last updated January 2022

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