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 Tracking 1267 U.S. listed China Stocks and Counting...
 Tracking 3158 U.S. Stocks and Counting...
Created: 01-Jan-2008

Extra Insight into some of the more controversial issues surrounding China Companies

  • 9:30 AMmore... 
    Advanced Battery (PINK:ABAT) announced the company and Mr. Zhiguo Fu, Chairman and CEO of Advanced Battery Technologies Inc. plan to buy back up to 5 million ABAT common shares over the next 12 months.
  • 9:30 AMmore... 
    Gigamedia Limited (NASDAQ:GIGM) announced that its CEO continued to purchase a total of 131,938 shares of the company’s stock at an average price of $1.03 during the period between October 28, 2014 and October 31, 2014.
  • Yesterday, 9:30 AM 
    Ikang Healthcare (NASDAQ:KANG) announced that it acquired three medical centers in Shenyang that are franchised from Ciming Checkup Group.
  • Yesterday, 9:30 AMmore... 
    Trina Solar Limit (NYSE:TSL) announced that it has entered into an agreement for the design, build and operation and maintenance of the 10 MW Shamsuna Solar Project in Aqaba, Jordan with Shamsuna Power Company.
  • Yesterday, 9:30 AMmore... 
    GeoBargain on the radar Innovative Food H (PINK:IVFH) reported Q3 results, with strong top line growth but a non-gaap loss of $0.02 vs EPS of $0.06. We will continue to monitor the contribution from a recent acquisition of Fresh Diet; management stated “the transaction is expected to be accretive to the Company's earnings beginning in fiscal year 2015”.
  • Tuesday, November 18, 2014, 09:30 AMmore... 
    Jinkosolar Holdin (NYSE:JKS) announced that it closed the private equity investment led by China Development Bank International and the Macquarie Greater China Infrastructure Fund, of an aggregate amount of US$225 million in the Company's downstream solar power project business.
  • Tuesday, November 18, 2014, 09:30 AMmore... 
    Canadian Solar In (NASDAQ:CSIQ) announced that its modules will power a series of projects in Georgia totaling 5.1 MW with Atlanta-based solar developer and Engineering, Procurement and Construction ("EPC") provider SolAmerica Energy, LLC.
  • Tuesday, November 18, 2014, 09:30 AM 
    China Ceramics Co (NASDAQ:CCCL) received NASDAQ notification of non-compliance with minimum bid price rule.
  • Monday, November 17, 2014, 09:30 AMmore... 
    China Information (NASDAQ:CNIT) announced it has signed a Letter of Intent with an unrelated party to sell the Company's Fuyong Industrial Park for approximately US$61.2 million. In addition to working capital, proceeds from the sale will be used to fund a US$10.0 million share repurchase program and pay down short-term bank loans.
  • Monday, November 17, 2014, 09:30 AM 
    Sky-Mobi Limited (NASDAQ:MOBI) reported sequentially down earnings Q3 2014 results, and CFO resigned.
  • Friday, November 14, 2014, 09:30 AMmore... 
    GeoBargain Ocean Bio-Chem (NASDAQ:OBCI) reported Q3 2014 results: sales of $10.4 million vs $10.4 million in the prior year, EPS of $0.10 vs $0.07. Bullish commentary regarding growth in 2015 based on new product launches. 
  • Friday, November 14, 2014, 09:30 AMmore... 
    GeoBargain on the radar Unilens Vision In (PINK:UVIC) reported Q1 2015 results: sales of $1.63 million vs $1.57 million in the prior year; EPS of $0.15 vs $0.09 in the prior year.
  • Thursday, November 13, 2014, 02:39 PMmore... 
    Pacific Health Ca (PINK:PFHO): We mentioned in the morning that the stock was down due to the loss of significant customer, however, we think it was overdone. Here is our update for this issue. 
  • Thursday, November 13, 2014, 09:30 AMmore... 
    GeoBargain on the radar Allied Motion Tec (NASDAQ:AMOT) reported record Q3 2014 results: revenues was $65.3 million vs $24.9 million in the prior year period, a 162% increase; EPS of $0.45 vs $0.09 in the prior year, a 400% increase.
  • Thursday, November 13, 2014, 09:30 AMmore... 
    GeoBargain on the radar and Tier One Pink Pacific Health Ca (PINK:PFHO) reported Q3 2014 results: revenues of $2.7 million vs $1.7 million in the prior year; EPS of $0.69 vs $0.42 in the prior year. Need to determine the impact of the loss of significant customer.  We will call management to try and assess the situation. 
  • Tuesday, November 11, 2014, 09:30 AMmore... 
    Hong Kong Televis (NASDAQ:HKTV) ($11.10, previous symbol: CTEL) – The company is engaged in multimedia production and contents distribution, and other multimedia related activities in Hong Kong. The company produces dramas, variety and infotainment, and purchased content programs. The stock started to break out at the end of October,  increasing 43.8%  from $7.72 on 10/31/2014 to $11.10 on 11/11/2014. On 11/03/2014, the company issued a 6K filing stating it entered into content distribution arrangements with third parties for the distribution of its Cantonese dramas and infotainment and variety programs. However, the company didn’t disclose  which companies were  parties to this agreement. The company issued another 6K on 11/06/2014 disclosing that it entered into the license agreement with Shenzhen Tencent Computer Systems Co., Ltd (HKG: 0700), one of the biggest internet companies in China, regarding the grant of the exclusive right to distribute its Cantonese dramas through Tencent’s Internet Video Platform in the People’s Republic of China. We will continue to track the story. 
  • Tuesday, November 11, 2014, 09:30 AM 
    China Finance Onl (NASDAQ:JRJC) announced new partnership with Great Wall Securities, one of the oldest nationwide securities firm in China. 
  • Tuesday, November 11, 2014, 09:30 AMmore... 
    Insys Therapeutic (NASDAQ:INSY) reported Q3 2014 results; reported Q3 EPS of $0.63, $0.34 better than the analyst estimate of $0.29. Revenue for the quarter came in at $58.3 million versus the consensus estimate of $57.1 million.  See our bullish thesis on INSY published on 8/11/2014. 
  • Monday, November 10, 2014, 09:30 AMmore... 
    China Green Agric (NYSE:CGA): the company continues to stage events, only taking one investor’s questions during its earnings call this morning. The one investor allowed to ask questions on the CGA call pleaded for more transparency. Then, the call ended.  CGA reported Q1 2015 results; Reported Q1 2015 EPS of $0.25 vs $0.35 in the prior year.  Lowered fiscal 2015 EPS guidance to $0.74 to $1.00 vs previous guidance of $0.80 to $1.08.
  • Friday, November 7, 2014, 09:30 AMmore... Limited A (NYSE:WBAI): Yesterday, Muddy Waters tweeted that WBAI director Mr. Qi Li had sold the company’s shares, unbeknownst to the public, using the “pseudonyms” Lionel Rim and John Richard. The tweet includes a copy of a Form 144. This morning, WBAI issued a baffling press release that said although the director did in fact sell the shares, “Lionel Rim” and “John Richard” are both limited liability companies incorporated by said director, not pseudonyms. We believe these to be legitimate red flags that warrant further investigation. 
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Zon4Ever 02-Dec-2010 09:35 AM
Post Type: Public Public
by Maj Soueidan As indicated in my recent article, Limit Risk While You Invest in ChinaH (#4746) 02-Dec-2010 09:35 AM

by Maj Soueidan

As indicated in my recent article, Limit Risk While You Invest in ChinaHybrids (U.S. Listed Chinese Stocks),  I track daily new highs in an attempt to identify momentum value plays.  A trend I have noticed is that even as the RTO stocks have once again corrected many ADRs, some with premium multiples are attaining new 52 week highs. Short investors have asserted that ADRs are of higher quality than their RTO counterparts and that their PRC filings match SEC filings.

ADR/ADS stocks listed on major exchanges that attained 52 new highs even as the Chinese RTO space has pulled back:

51 Job Adr (NASDAQ:JOBS)
China Digital Tv Holding Adr (NYSE:STV)
7 Days Group Holdings Adr (NYSE:SVN)
Global Sources (NASDAQ:GSOL)
China Techfaith Wireless Adr (NASDAQ:CNTF)
3 Sbio Inc Ads (NASDAQ:SSRX)
Hollysys Automation Tech (NASDAQ:HOLI)
Fabrinet (NYSE:FN)
China Yuchai Intl (NYSE:CYD)

A couple well-followed RTO stocks have recently attained new highs:

Lihua Intl (NASDAQ:LIWA)

The following stocks on the BB have recently attained new highs, most on light volume:

China Electronics (OTC BB:CEHD)
Horiyoshi Worldwide (OTC BB:HHWW)
Shun Cheng HK (OTC BB:BRBH)
Zhongchai Machinery (OTC BB:EQPI)
China Agri-Business (OTC BB:CHBU)
Gfr Pharmaceuticals (OTC BB:GFRP)
Sino Oriental (OTC BB:SMPN)
China Shesays Med (OTC BB:CSAY)
Jinhao Motor Co Common (OTC BB:GIMC)
Asia Pacific Wire & Cabl (OTC BB:AWRCF)

I also like to observe stocks that are within striking distance of a 52 week new high. One such RTO stock caught my attention due to the fact that it sports a trailing P/E multiple of over 20 that most RTO stocks would kill for.  I was obviously excited, thinking that the market had placed its quality stamp of approval on Kingold Jewelery (NASDAQ:KGJI).  Shares have risen from a 52 week low of $0.56 to $8.87, off its high of $11.95 in August 2010.

The company also claims to be the leader in its industry:

"Kingold Jewelry, Inc. is one of the leading professional designers and manufacturers of gold jewelry in the central part of China including Hubei, Hunan, Henan, Jiangxi, Anhui and Sichuan Provinces. According to statistics provided by Gems and Jewelry Trade Association of China, KGJI ranked first and second in the PRC's gold industry nationwide in total volume of production in 2007 and 2006, respectively."

As a precaution, I now run many of my potential ChinaHybrid stock selections through my Chinese attorney I call "Bob" in order to respect his privacy. Recall that Bob was instrumental in my article, The SEC vs SAIC Fact Finding Mission, published on August 25, 2010.  I asked Bob if he was aware of KGJI.  He was, and the news was quite interesting.

Bob writes:

KGJI tried to list in Shenzhen stock exchange in China in 2008.  However, it was rejected by China Securities Regulatory Commission on Aug 4th. 2008 ( 

KGJI planned to sell 33,340,000 shares which would have equated to 25% of the total shares after the planned IPO.  The book value per share before the IPO is RMB 1.59 yuan. As the IPO is rejected by China Securities Regulation Commission, we do not know what the planned price was. However, if we assume KGJI would have applied a 20 P/E (China market has a high P/E), the price shall be around RMB 0.30 per share.

Translation from CSRC site:

"China Securities Regulatory Commission, the Audit Committee issued its 115th meeting in 2008 at the August 4, 2008 meeting, the meeting reviewed the results now announced as follows: Wuhan Golden Phoenix Jewelry Co., Ltd. is not approved."

I am 100% percent sure this KGJI Wuhan Golden Phoenix Jewelry are one the same. Wuhan Golden Phoenix Jewelry has the same address, same legal representative and financial statements as well. In its prospectus submitted to CSRC, KGJI applied its English name as "Kingold Jewelry" on the cover which is the same as KGJI. Wuhan Golden Phoenix Jewelry is the direct translation of its Chinese name. When you say the logo of KGJI, it is a golden phoenix.

Bob goes on to comment:

The media reported that possible reasons for the rejection dealt with falsified financial books.  There were several reasons applied to challenge the prospectus submitted to China Securities Regulatory Commission (CSRC) by KGJI (Prospectus: 

At first, it has been speculated that the company intentionally increased (forged) the value in its asset appraisal report for machinery and raw materials invested by Zhihong Jia, CEO, in 2004. Secondly, the increase of the revenues from 2006 to the first season of 2008 was challenged.   Thirdly, it has been speculated that suspicious share transactions from Zhihong Jia to other shareholders existed.  (

I read the prospectus of KGJI in China (2008), the reverse merger documents and its S-1.  Apparently, the annual increase rate of revenue of KGJI is more than 100% for three years.  The Chinese media challenged the increase in 2008.  The financials in the PRC prospectus, reverse merger documents and the S-1 match, so the company used the same filings submitted to the CSRC.  Now, we need to figure out more details in 2010.

To be clear, the CRSC did not mention that it rejected the application for the IPO due to fraud allegations.

In addition to Bob’s findings and with help from a new due diligence panel I have assembled, I have provided the following information that investors may find useful:

  • It looks like the Company will tap the equity market, as determined by a recently amended S-1 and a blurb in the 2010 third quarter 10Q -

“We expect that cash generated from financing activities may increase significantly as a result of additional financing being obtained.”

We will continue our probe into the KGJI story in order to confirm or refute fraud allegations.  From the strong possible pricing indicated in the S-1 it appears that investors have given a vote of confidence. We welcome input from investors.

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