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Alpha Group

Controversies

Controversies tied to this brand in public sources. A listing is not a finding of fault.

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  1. 2019

    Shenzhen Stock Exchange Questions Massive Goodwill Impairment and Earnings 'Face Change'

    After cross-industry acquisitions of gaming and other assets in 2018, Aofei Entertainment concentrated about RMB 944 million in goodwill impairment (total asset impairment about RMB 1.5 billion) and revised its performance forecast downward. The Shenzhen Stock Exchange sent a letter of concern questioning the reasonableness of not impairing in prior years and whether earnings management existed; the company replied in a 40-page long document that it was reasonable. The cross-industry M&A failed, and the share price and market capitalization fell sharply.

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  2. Alpha Group's acquisition of Beijing Siyue Xinkong (U17) drew market scrutiny over valuation

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  3. Alpha Group's acquisition of Siyue Xinkong (U17) at a high valuation

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