Tag Archives: Zhengming Pan

New York-listed Chinese sports lottery operator 500.com, has reported its sixth straight quarter with no corporate revenues, as concerns continue to mount regarding the firm’s future. 500.com is still under ‘temporary’ suspension of its lottery services  issued by the Chinese Ministry of Finance, who in April 2015 placed a ban on all lottery transactions via online or third party networks. …

New York listed Chinese sports lottery operator 500.com has posted its third consecutive no-revenue quarter for Q4 2015. The troubled lottery operator continues to be impacted by its ‘temporary’ lottery services suspension imposed by China’s Ministry of Finance (first sanctioned in February 2015) As a result of the suspension, the operator posted Q4 revenues of RMB 0.7 million ($0.1 million), …

Investor concerns continue to mount for troubled New York listed Chinese lottery operator 500.com, following the announcement of a further quarter with no revenues and earnings for Q3 2015. The Shenzhen based lottery operator posted its second earnings results, since the temporary sales suspension of provincial lottery services by China’s Ministry of Finance, which was imposed in February. Due to …

Chinese state-owned fund Tsinghua Unigroup International is reported to have invested $124 million (£80 million) for a 15.2% stake in New York listed Chinese sports lottery operator 500.com, through a purchase of newly distributed shares. Business news sources have reported that Tsinghua will acquire a total of 63.5 million shares in 500.com. The news of the stake purchase by Tsinghua …

Chinese sports betting and lottery operator 500.com, have announced the promotion of  Zhengming Pan the Company’s current Chief Financial Officer to the new position of company President. Mr. Pan will be succeeded as Chief Financial Officer by Mr. Min Yu. Both appointments will be effective September 1, 2014. Mr. Yu previously served as a vice president at Deutsche Bank in …