David Webb recently added to his stake in HK-listed Tungtex (Holdings) Co. Ltd. (Tungtex). According to a filing submitted to the Hong Kong Stock Exchange on February 9th, 2018, he purchased 300,000 shares on the exchange at an average price of HKD 0.8567 per share on February 6th. Following the purchase, Webb’s stake in Tungtex increased from 5.94% to 6.01% of the company’s shares outstanding.

Tungtex manufactures ladies sportswear, casual wear and other garments for department stores, chain stores, specialty stores, catalogs, and designer labels. It specializes in silk-blended, linen, cotton, and synthetic apparel products. The company also has its own retailing business in China, under the Betu brand. Tungtex was founded in 1977 and listed on the Hong Kong Stock Exchange in 1988.

David Webb is a private investor who has lived in Hong Kong since 1991. He is a former investment banker and currently runs the Webb-site, which provides reports and independent opinions with a primary focus on Hong Kong affairs.