China Xiniya Fashion Ltd. (XNY)

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Want to invest in a true legitimate & undervalued Chinese company?

There is one: Xiniya (XNY). Take a look at the company's presentation and Q&A from the last Deutsche Bank ADR Virtual Investor Conference: http://finance.yahoo.com/news/china-xiniya-fashion-limited-present-123100401.html

You can register for the event free even now when it is finished.

The company went through regular IPO and has a well-known and respected auditor. Plus, one of the most famous Chinese super star singer has been representing the company for years. The company's stores and TV commercials appear everywhere in China. It is a household name in China. In the CFO's own words during Q&A:

When asked about the Cash Balance:

Chee Jiong Ng:as reported in 2013Q1, as of March 31, 2013, the Company had cash and cash equivalents of RMB1.0 billion, and time deposits held at banks with maturities of more than three months of RMB220.0 million.

Chee Jiong Ng:GHP has physically and independently verified 100% of Xiniya bank accounts in China on a yearly basis: 1. Confirmation of the cash balance was completed in person at the banks in China, and GHP observed the bank employees printing or otherwise preparing or completing the confirmation request. 2. GHP obtained bank reconciliations prepared by Xiniya. The bank reconciliations listed cash balances per each bank’s records as of the specified date, reconciling items (such as deposits in transit,

Chee Jiong Ng:3. GHP did not note any differences or discrepancies between the confirmation amounts and Xiniya’s records. In additions, GHP reviewed our monthly bank statements.

Chee Jiong Ng:2. GHP obtained bank reconciliations prepared by Xiniya. The bank reconciliations listed cash balances per each bank’s records as of the specified date, reconciling items (such as deposits in transit, outstanding disbursements, etc.) and the resulting cash balance as per Xiniya’s general ledger.

Chee Jiong Ng:The cash will be used for the construction of the new manufacturing and logistic center or just logistic center, implementation of ERP system, looking out for acquisition opportunities.

This stock has been largely forgotten by wall street, but it will not be for long. Clothe market is China is still growing fast and can multiply in dollar amount within years.