How Did A Chinese Fugitive Wind Up As The CEO Of A Publicly Traded Company?

The Short Answer: We Don't Know

Dear readers,

Today we publish our newest report—the story gets a little crazy. Singularity Future Technology (NASDAQ: SGLY) is a $148M Chinese shipping logistics company turned crypto company with too many red flags to count. Our due diligence has led us to believe the company is significantly overvalued:

• Singularity’s shipping & logistics business is burning cash; its reliance on key partnerships and related party customers is concerning.

• Singularity’s CEO, Yang Jie, is a wanted fugitive in China. He’s previously been sued in the US for stealing money and is accused of fundraising fraud in China. 

• Singularity claims to sell a “proprietary” Bitcoin miner; our research indicates it is selling a miner extraordinarily similar to that of a competitor. 

• Past joint venture history could indicate future financial failure of Singularity. Singularity’s latest joint venture with Golden Mainland raises a plethora of unanswered questions following our on ground investigation.

Due to the length of this report, we’ve been forced to attach a pdf copy which can be found here.

Hopefully the report is of interest to all of you. Curious to hear some feedback. Will be setting up a formalized website in the coming weeks but intend to continue utilizing Substack. Thanks to everyone who has subscribed.

Have a great weekend,

Peabody

PS: As always, we can be reached at peabodystreet@protonmail.com