China’s Dinglong’s Shady Clone-Toner Business: Hiding Risks Before Its Hong Kong IPO.

Dinglong Co., Ltd. (300054.SZ) claims to be divesting its generic printing consumables business, but the reality is far murkier: the products are clone counterfeit toner cartridges, and the entities involved—Zhuhai Mingtu Chaojun Technology, Beihai Jixun Technology, Hubei Xinping Technology, Beijing Northern Office Supplies, and Suzhou Zhongxing Huichuang Technology—Companies with no verifiable presence outside China. By “selling” these subsidiaries while keeping minority stakes, Dinglong strips controversial operations from its books, creating a sanitized narrative to prepare for a Hong Kong Stock Exchange listing. Behind the polished story of innovation and high-tech growth lies a shadowy web of untraceable firms and questionable products, making this move a glaring red flag for any investor.
China Hubei-Dinglong Toner-Cartridge-Manufacturers-Investigation-Report, Abuse In The Printing supply chain