We believe that Fullshare Holdings Ltd. (HK: 0607) (“Fullshare” or the “Company”), a 2013 reverse merger, is one of the largest stock manipulation schemes trading on any exchange anywhere in the world. In our opinion, Fullshare resembles Tech Pro Technology (HK: 3823), Huishan Dairy (HK: 6863), and Hanergy (HK: 0566), schemes whose stock price collapsed in spectacular fashion. In this report, we present independent evidence from intraday trading patterns indicating, in our opinion, that Fullshare’s share price has been manipulated. We believe that insiders have used the smokescreen of a rising stock price to secretly transfer some of the Company’s most valuable assets to the chairman and his family.