Best World

(21-04-2019, 03:16 PM)ITOPRoberto76 Wrote:

(20-04-2019, 08:25 AM)According to the promulgation, If franchise activities are carried out across provinces, autonomous regions and municipalities directly under the central government, record filing should be made with the Ministry of Commerce. Also, the franchiser should, before 31 March in each subsequent year, report to the filing authority the conclusion, cancellation, termination and renewal of the franchise contract in the previous year. See the following link ---> http://m.hktdc.com/business-news/article...09RYWA.htm Wrote: BWL Conflicting information?

17 April valuebuddy Roberto76 links and 19 April valuebuddy dreambear on bwl annoucement has a big contention point.

17 Apr article says that Franchise is only for ChangSha, however, bwl has 33 Franchise location and most outside ChangSha
19 Apr bwl says that pwc says that it's Franchise is ok

So, the questions remained and I think that's why bwl requested for a delay of 2 month to do more checkings.

mmm...
boon?

A Guide to Franchising in China

February 11, 2019
Posted by
China Briefing
Written by
Zoey Ye Zhang

https://www.china-briefing.com/news/fran...ina-guide/

If there is any change in the franchisor’s filing information, in the information on business resources or in the distribution of stores of all franchisees within the territory of China – the franchisor should, within 30 days from the date of the change, apply to the filing authority for a change.

Moreover, the franchisor should, before March 31 in each subsequent year, report to the filing authority the conclusion, cancellation, termination, and renewal of the franchise contract in the previous year.

Bonitas Research calling Best World "a fraud" on their report

https://www.bonitasresearch.com/company/best_world/

Just some background on Bonitas. It's founded by Matthew Wiechert, founder of Glaucus Research. Glaucus Research was the one that busted Blue Sky Alternative Investments (Listed in Australia). It was trading at $11 back in Mar 2018, and now only trading at $0.29.

Accompanying news on Blue Sky. So in some sense, I guess they know what they are doing

https://www.afr.com/business/banking-and...328-h0y2bg

Wow, didnt expect Bonitas will come target SG company.

https://www.bonitasresearch.com/wp-conte...il2019.pdf

I think iceberg also got research on BW before

Sent from my CLT-L29 using Tapatalk

IMHO, the research report has in the process dug out a lot of on the ground information. While I might not agree with some of the conclusions, it did highlight a lot of the business practices of the company in its report. Its up to you to decide whether that is clearly in breach of China's Direct Selling regulations (the report showed multiple layers of remuneration, which is outlawed practice in China).

Excerpt from the report

"When we asked a Member Rep about the legality of Best World’s China operation without a direct selling license, the Member Rep informed us that Best World’s China operation was legal and sent us a picture circulated by Best World management to ensure Member Reps of Best World’s compliance with all rules and regulations.What the Best World Member Rep failed to notice is that Dr. Dora is holding BWL China’s direct selling license awarded in 2016 for its wholesale health and supplements business. This license DOES NOT give Best World the authority to operate a direct selling sales scheme for skin care products nationwide, only licensed to sell health and supplements in Hangzhou City."

I believe Ice Berg tweeted about it but nvr issued a report on it.

Another research post on Best World

https://valiantvarriors.wixsite.com/home...investment

Well there must be a clear intention why Bonitas did the report on a SG company