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Published on the state run media format of the NYT
Mass murderers mouthpiece IPO coming.
http://www.nytimes.com/2012/01/15/business/unit-of-chinese-daily-plans-ipo.html
Why don't these AAPL i4s crowds in China just log on to Switow to place their order?
insert-text-here
China Small and Microcaps are up strongly so far this year. My Index of 100 stocks, ChinaMicro100, is up 8.2% YTD - it's been an amazing turnaround so far -
http://investorshub.advfn.com/boards/read_msg.aspx?message_id=70791435
CSGH: Nice op here ahead of strong 10-Q
China Sun Group was one of the top tier picks prior to the China sector meltdown.
In recent days they have hit the low .20s.
Imo, the company looks great from every angle right now.
Link to last Q which is usually their weakest and still it looks very nice indeed.
http://finance.yahoo.com/news/China-Sun-Group-HighTech-Co-prnews-246692630.html?x=0&.v=1
Updated website:
http://www.chinasungrouphightech.com/
Note: Imo, CSGH is going to come in with a .08 or so eps for the Q as they switch over to the state of the art Li-ion material now gaining traction. Just a nice little buy here, imo.
SVM goes after short sellers. Whitetiger are you next? These are your friends you worked with right?
http://finance.yahoo.com/news/Silvercorp-Sues-Jon-R-Carnes-iw-6776730.html?x=0
whitetiger - have you ever been to china? more than just a one time trip.
Whitetiger,By the way I like your cute high school girl lingo "LMAO". Fits you well. Any chance my girls could rent a limo for prom this year from your company? Do you also serve as the driver?
whitetiger -
I stopped paying for china growth but thought I would respond to your attacking / overly defensive post ont that board.
Mate you sound a bit defensive about me calling you a criminal for trading on non public information that is materially different than public info available to investors. Why don't you just tell me why its legal for you to bribe tax collectors and use that information to trade stocks then bash them? Provide a coherent statemet as I am sure you will need to get one ready for the law anyways.
Also that you use your message boards as pawns to trade your own account. Not suprising activity from a bunch of ex car salesman turn - wanna be investment gurus lying about their capabilities.
A story about you on american greed will be entertaining to watch especially given your the way you dress - you will fit in with all the other slime on that show.
I will be sharing more information shortly about your practices for all to read.
Sincerely,
Timothy
Want ads - management jobs available in the transportation sector.
No word if life insurance is included in the benefits.
..China blames 54 officials for bullet train crash
Chinese government says design flaws caused bullet train crash, blames 54 officials
By Joe Mcdonald, Associated Press | AP – 27 minutes ago
....
Share1EmailPrint......
BEIJING (AP) -- A long-awaited government report said design flaws and sloppy management caused a bullet train crash in July that killed 40 people and triggered a public outcry over the dangers of China's showcase transportation system.
A former railway minister was among 54 officials found responsible for the crash, a Cabinet statement said Wednesday. Several were ordered dismissed from Communist Party posts but there was no word of possible criminal penalties.
The crash report was highly anticipated by the public. The disaster near the southern city of Wenzhou also injured 177 people and had triggered a public outcry over the high cost and dangers of the bullet train system, a prestige project that once enjoyed lofty status on a level with the country's manned space program.
Regulations had required the report to be released by Nov. 20. When that date passed, the government offered little explanation, drawing renewed criticism by state media, which have been unusually skeptical about the handling of the accident and the investigation.
The Cabinet statement cited "serious design flaws and major safety risks" and what it said were a string of errors in equipment procurement and management. It also criticized the Railways Ministry's rescue efforts.
The report affirmed earlier government statements that a lightning strike caused one bullet train to stall and then a sensor failure and missteps by train controllers allowed a second train to keep moving on the same track and slam into it.
Those singled out for blame included former Minister of Railways Liu Zhijun, a bullet train booster who was detained in February amid a graft investigation. Also criticized was the general manager of the company that manufactured the signal, who died of a heart attack while talking to investigators in August.
The decision to assign blame to one figure who already has been jailed and another who is dead, along with mid-level managers who have been fired, suggests any additional political fallout will be limited.
Several officials including a former Communist Party secretary of the Shanghai Railway Bureau were ordered dismissed from their party posts, a penalty that is likely to end their career advancement. Others received official reprimands but there was no mention of possible criminal charges.
The bullet train, based on German and Japanese systems, is one facet of far-reaching government technology ambitions that call for developing a civilian jetliner, a Chinese mobile phone standard and advances in areas from nuclear power to genetics.
The bullet train system quickly grew to be the world's biggest but has suffered embarrassing setbacks. After the Wenzhou crash, 54 trains used on the Beijing-to-Shanghai line were recalled for repairs following delays caused by equipment failures.
Critics complain authorities have spent too much on high-speed lines while failing to invest enough in expanding cheaper, slower routes to serve China's poor majority.
Beijing is rapidly expanding China's 56,000-mile (91,000-kilometer) rail network, which is overloaded with passengers and cargo. But it has scaled back plans amid concern about whether the railway ministry can repay its mounting debts.
On Friday, the current railways minister, Sheng Guangzu, announced railway construction spending next year will be cut to about 400 billion yuan ($65 billion), down from this year's projected 469 billion yuan ($75 billion).
A failure to expand rail capacity could choke economic growth because exporters away from China's coast rely on rail to get goods to ports.
The rail ministry's reported debt is 2 trillion yuan ($300 billion). Analysts say its revenues are insufficient to repay that. That has prompted concern the ministry might need to be bailed out by Chinese taxpayers.
..
China’s Deserted Fake Disneyland
ReutersBy David Gray | Reuters – Wed, Dec 14, 2011 2:30 PM EST
http://finance.yahoo.com/news/china%E2%80%99s-deserted-fake-disneyland.html
WKBT - yep. 100% worthless, so it won't be "over" until they hit clean zero.
LPH: Toups CC summary from YMB claefanortnorq:
1. He is going to China next week for the Shareholders meeting and to hopefully finalize the acquisition of Haujie.
2. the acq. calls for final payment and registration of the transaction and transfer of title, which takes a little time.
3. expects to be able to give update regarding the acq. at shareholders meeting on Dec. 15th
4. he will be working on the tax recon. while in China next week - hopes to release "fairly quickly"
5. Cai still hopes to finalize acq. with cash, but because of relaxing of Chinese lending, may consider small debt loan to finalize
6. ramp up of Haujie will take a few months, due to Chinese New Year and will take approx. 20 million working capital
7. Cai more inclined to divi instead of share buyback. The two owners already own 67%. Divi could start in Q2 2013
8. Going private not consideration at this point. Cai wants to continue to do what is best for current shareholders. They are hoping PPS improves as Chinese US listed sentiment improves.
9. still looking to hit sales target for 2012, despite Q1 sales, they hope organic growth will enable them to reach projection.
10. do not look to change auditor at this point, happy with CVWB
WKBT, a stock that was highly touted on the other board not long ago, is down about 50% in the last 3 months. Not unusual for this sector.
This post by bezek is a joke. He just naming random companies that he knows nothing about similar to the ones he labels as bad.
He needs to stick to writing for his school newspaper, which I bet is as bad as his bashing.
Thats old news. No different than Enron or 1000's of bulletin board stocks in the US.
It is a milestone of sorts for this sector that CCME has hit a PPS of $.01. Enterprise value is now less than the cost of an exotic car.
i disagree. over 21 companies have went private and probably another 10 will go private this year alone. thats more than all us domiciled companies for an entire year. They are all going private at above a 40% premium. I wouldn't pay more if I didnt have to.
That being said the private equity is getting rich and screwing retail because the manipulators are letting them.
I hope the SEC steps up the plate an regulate the manipultors.
Carson, Geo, Al Little, Gluacus, Absaroka should all be spending time in jail. They will, its just a matter of time. I would rather be doing 9 to 5 at a grocery store than worrying about jail time.
If the law doesn't step up they are cowards. I will go on record for that.
Overall, I think its a decent sign, but I also think it will give many a false hope thinking their stock will get bought out or think that their are more legit than there really are. With those going private and something Ive stated for awhile, it limits the upside because they generally arent going to get a big premium, thus limiting the upside for those in the space. With how much risk there is with these stocks and the limited upside because of the privatization, it makes investing in these much more difficult. Plus, there will be many that give fake offers too.
Citigroup taking U.S.-listed Chinese firms private
thoughts from this board?
By Nisha Gopalan
-- U.S.-listed Chinese stocks hit by investor concerns about fraud at some of their peers
-- Seven deals to take U.S.-listed Chinese companies private this year alone
-- Chinese company owners and private equity firms working together to take firms private
HONG KONG (MarketWatch) -- Tarred by allegations of fraud at often-unrelated U.S.-listed peers and trading below their once-buoyant initial public offering prices, a series of U.S.-listed Chinese companies have opted to take themselves private, using private equity firms to finance the deals.
Such moves are becoming a major source of business for Asia M&A bankers, said a senior Citigroup Inc. banker.
"We have several take-private deals in the pipeline," said Colin Banfield, Citigroup's head of mergers & acquisitions, Asia Pacific, and joint head of global cross-border mergers & acquisitions, global investment banking. "In cases where the owner brings in a private equity firm, we can provide the bridge financing to the private equity firm. The PE firm conducts due diligence and offers additional management and re-structuring expertise, and the company, once private, emerges stronger, so it can eventually re-list in Hong Kong."
Seven take-private transactions valued at more than US$1 billion in total have been announced so far this year, Banfield said.
"Many private equity firms are targeting China 'orphan stock companies'--mainland firms listed in the U.S. and Singapore with undervalued stocks due to investors' limited understanding of their business models, low trading liquidity and often relatively small market caps," said Banfield. "The companies, meanwhile, are facing low valuations and tight credit in China, so they are interested in going private."
The deals are usually small, ranging from tens of millions to a couple hundred million dollars, said Banfield, whose firm is ranked No. 4 for advising on mergers & acquisitions in Asia outside Japan and Australia so far this year, according to Dealogic. On average, the premiums are 20%-40% to current share prices, and the owners usually finance the deals through a mix of debt and private equity funding.
continue...
http://www.marketwatch.com/story/citigroup-taking-us-listed-chinese-firms-private-2011-11-22?reflink=MW_news_stmp
Where do you get the idea that Rato is Ian Bezek?
YGE impressed: Aims at 30 % of market
Yingli Surges on Plans to Reach 30% of China’s Solar Market
By Christopher Martin - Nov 23, 2011 4:36 PM ET
l
Yingli Green Energy Holding Co. (YGE), a Chinese manufacturer of solar panels, jumped the most in almost a month after saying it expects to have about 30 percent of the country’s market next year.
Yingli rose 12 percent to $3.96 in New York, the largest gain since Oct. 27 and the biggest increase of the 17 members of the Bloomberg Global Large Solar Energy (BISOLAR) index. The shares have dropped 60 percent this year.
China’s total market for solar panels next year should be about 3,000 megawatts and Yingli expects to get 30 percent of that, Robert Petrina, the Baoding-based company’s managing director for the Americas, said today on a conference call with analysts and investors. That’s up from about 25 percent now.
“Yingli has good relationships with utilities in China and they’re well-positioned to take a solid share of that market,” Paul Clegg, an analyst at Mizuho Securities USA Inc. in New York, said today in an interview.
The company also discussed a share repurchase program, he said, which may be moving the shares higher.
Yingli on Sept. 30 said its board approved the purchase of as much as $100 million of outstanding American depositary receipts.
Yingli may repurchase the receipts as operating cash flow turns positive in the first quarter, Chief Financial Officer Bryan Li said on the call.
“We believe our company stock is deeply undervalued,” Li said on the call.
To contact the reporter on this story: Christopher Martin in New York at cmartin11@bloomberg.net.
To contact the editor responsible for this story: Reed Landberg at landberg@bloomberg.net.
I don't...can't be.
That stock looks like CCME juinior.
Thats funny that Rato is Ian Bezek. I have read about him on seeking alpha. the same guy that pretends to be an expert at the age of 22.
1) Said he has been managing money at the age of 12
2) Has most likely never been to china
3) Has no finance background what so ever.
Ha. its funny how he can talk with such certainity from his college dorm room.
Just wanted a copy of this post (below) in case the CGS deletes it ..You know how they get .Thats why this board was started.. I unsubscribed to GEO because i thought they couldnt be objective any more .. You know the everything a fraud mentality GEO ,RATO et all).. Yes we probably get some more washouts.. Has GEO cleared anything to be OK (OSN and VALV we all know how that worked out)They blessed those even with tax avoidance....Wasnt that part of the mission find some good ones.,and thats what got most interested in joining..We all know there is money to be made because they all cant stay at cash or trade at 1,2, or 3 pe's ...forever..Im speaking to whitetiger(maj) below
""""""""" lostmyballs Share Thursday, November 17, 2011 10:17:19 PM
Re: white_tiger post# 86843 Post # of 86851
Boy you must of got your ass handed to you on some shorts...You cant even follow a simple thread.. You know damn well Rato's post was to me and hence you posted to him saying he cant convince my dumb ass of all the frauds out there like HRBN HOGS ONP and many others to come that have withstood very skimpy details of their so called fraudulant nature..OPEN MINDED ..Hell your so bearish your starting to shit in the woods...LIWA has the cash CHOP is super legit and YONG is probably the best thing out there as well as CXDC,, the other one MS vetted ..Homer Sun knows what the f**k he's doing and understands the business.ya GEO found somes bad apples but geez that success spun your head so much you cant think straight and everything automatically is a fraud...So frickin what if Chop and Liwa did some tax evasion before they became public..Kinda like your shitty DD on valv and osn ,where the GEO team LOL...came to the same freekin conclusion (tax avoidance)(its all in your report) ,but it was ok because you could pump and dump those on the retail investor....I tried to get into discussion on the GEO site but you just want to ride the coat tails of a bunch of second rate shorts that post really weak DD.. Then openly go short against long positions of your subscribers on a trend of BS short articles from jadestone or that fat ass IAN Bezel (knickname)....Come april we will see who's left standing..I like my chances of scoring doubles and triples ,im fairly confident in the names ive mentioned..Oh i didnt like the last CC of TSTC and im currently out of that name...I still dont think their fraudulent though... But i sticking to stocks absolutely hitting on all cylinders like YONG CHOP LIWA CXDC and OSN which im stuck in thanks to you ..If hogs and eds still are trading then my picks must be bullett proof..."""""" Later Dude ... Public Reply | Private Reply | Keep | Last Read Post New Msg Edit Msg (8 min left
I just seen the disclaimer by Guardien saying they found some info they didnt like..Follow the link from the long poster .Sorry
Actually id like to know what the problem is with actn. The 10q looks great and I'm not here to pump just wanting what the secret that I'm missing is? I know volume but I'm just talking about stock in general. I appreciative anyone's feedback on this. Thanks
ACTN - do you think I'm serious?
ACTN: $500M+ Revs/year. 750K Float verified with TA. 10M OS.......SH Equity at $5.07/share.....it's all on their board:
http://investorshub.advfn.com/boards/read_msg.aspx?message_id=69075221&txt2find=ACTN
z
That's cause someone *unknown* called them and scared them...so they REVISED their original page.....and check out the IHub link to a post on there.......LMAOOOOOOOOOOOO........I call that manipulation........z
ACTN ,alert read page 4 Guardien dropped coverage
ACTN Are you serious?? Chop is a better company
ACTN - sounds like a gem of a company.
I am trying to make contact with:
Company Officers
Chaojun Wang CEO
Heyin Lv CFO
Company Directors
Drew Bernstein
Joel D. Mayersohn
On March 14, 2011, the Board of Directors (the “Board”) of Longhai Steel Inc. (the “Company”) appointed Mr. Joel D. Mayersohn as a member of the Board, effective as of March 14, 2011[, to fill the vacancy created by Mr. Basil Hwang’s resignation. The Board also determined that Mr. Mayersohn constitutes an “independent director” as defined by Rule 5605(a)(2) of the NASDAQ Listing Rules. Mr. Mayersohn will serve as a member of the Audit Committee and Corporate Governance Committee and the chairperson of the Compensation and Nominating Committee. The Company is not aware of any transactions with Mr. Mayersohn that would require disclosure under Item 404(a) of Regulation S-K
Joel D. Mayersohn
Partner
Fort Lauderdale
350 East Las Olas Boulevard
Las Olas Centre II, Suite 1150
Fort Lauderdale FL 33301
Phone: (954) 759-2763
Fax: (954) 462-4260
jmayersohn@ralaw.com
Download vCard:
New York
245 Park Avenue, 39th Floor
New York NY 10167
Phone: (212) 803-8160
Fax:
jmayersohn@ralaw.com
Download vCard:
Why is it so undervalued? Is there something not known about actn? I mean 10q is impressive....way way way undervalued imo
I know it well...had it on watch the first day it traded.
Anyone here look into $CBGH ?? Float is tight and the short interest is 12,600
http://shortsqueeze.com/?symbol=cbgh&submit=Short+Quote%99" rel="nofollow" target="_blank" >http://shortsqueeze.com/?symbol=cbgh&submit=Short+Quote%99
Company Profile
[url]http://www.hawkassociates.com/pdf/profile/CBGH.pdf
[/url]
Rumor has it that the insiders own shares @ a higher PPS...plus w/ the data taken from the profile, PPS should be .10
Total Assets (03/31/11) ! $15.58 mil.
Total Liabilities (03/31/11) $1.5 mil.
Total Shareholders' Equity! $14.08 mil.
Basic Shares! 132.5 mil.
Diluted Shares! 132.5 mil.
Est. Public Float! 0.91 mil.
Insider Ownership ! 75%
ACTN - 750K float, 10M O/S, CEO owns 80%
Share Structure: (as of Nov. 14, 2011)
by: My Name Is Keith Stone
http://investorshub.advfn.com/boards/read_msg.aspx?message_id=68973665
Authorized: 100M
Outstanding: 10,000,418
Float 750,993. Per the Company.
Transfer Agent:
Interwest Transfer Company, Inc.
1981 Murray Holladay Road, Suite 100
Salt Lake City, UT 84117
Phone: (801)272-9294
Fax: (801)277-3147
Financial Information per last 10Q:
Assets: $94M
Liabs: $45M
Net Worth: $49M
Shareholders Equity: $49M = $4.92/share
Last Q Revenues: $166M
Last Q Net Income: $1.8M = .18/share
Not sure if you guys know anything about ACTN, Longhai Steel, here is todays 10q
http://www.otcmarkets.com/edgar/GetFilingHtml?FilingID=8240464
Assets: $94M
Liabs: $45M
Net Worth: $49M
Shareholders Equity: $49M = $4.92/share
ACTN min price target $5 Valuations give it $7-10
ACTN Not just proposed but APPROVED for NASDAQ upon official issuance
http://sec.gov/Archives/edgar/vprr/11/9999999997-11-000719
China GrenTech Announces Receipt of "Going Private" Proposal at $3.10 Per ADS
PR NewswirePress Release: China Grentech Corporation Limited – 9 hours ago
Companies:
* China GrenTech Corp. Ltd.
RELATED QUOTES
Symbol Price Change
GRRF 2.87 +0.31
SHENZHEN, China , Nov. 14, 2011 /PRNewswire-Asia-FirstCall/ -- China GrenTech Corporation Limited (NASDAQ: GRRF, "GrenTech", or the "Company"), a leading China -based provider of radio frequency and wireless coverage products and services, today announced that its Board of Directors has received a proposal letter dated November 12, 2011 from its Chairman and Chief Executive Officer, Mr. Yingjie Gao ("Mr. Gao"), to acquire all of the outstanding shares of GrenTech not currently owned by Mr. Gao, certain members of the management and their affiliates in a going private transaction for $3.10 per American Depositary share ("ADS", each ADS representing 25 ordinary shares of the Company) in cash, subject to certain conditions.
Mr. Gao and his affiliates currently own approximately 32.39% of GrenTech's ordinary shares. According to the proposal letter, the acquisition is intended to be financed primarily through debt financing. The proposal letter states that Mr. Gao is in discussions with Guotai Junan Finance ( Hong Kong ) Limited ("Guotai Junan") about financing the proposed transaction and has received a "highly confident" letter from Guotai Junan. A copy of the text of the proposal letter is set forth below as Exhibit A.
GrenTech's Board of Directors has formed a special committee of independent directors (the "Independent Committee") consisting of three independent directors, Mr. Cuiming Shi, Mr. Gordon Tsang Hing Lun and Mr. Xiaohu You , to consider this proposal. The Independent Committee will retain a financial advisor and legal counsel to assist it in its work. The Board of Directors cautions the Company's shareholders and others considering trading in its securities that the Board just received the non-binding proposal from Mr. Gao and no decisions have been made by the Independent Committee with respect to GrenTech's response to the proposal. There can be no assurance that any definitive offer will be made, that any agreement will be executed or that this or any other transaction will be approved or consummated.
About China GrenTech
GrenTech is a leading developer of radio frequency ("RF") technology in China and a leading provider of wireless coverage products and services in China . The Company uses RF technology to design and manufacture wireless coverage products, which enables telecommunications operators to expand the reach of their wireless communication networks to indoor and outdoor areas such as buildings, highways, subways, tunnels and remote regions. China GrenTech's wireless coverage services include design, installation and project warranty services. The Company also tailors the design and configuration of its wireless coverage products to the specific requirements of its customers.
Based on its in-house RF technology platform, the Company also develops and produces base station RF parts and components sold to base station manufacturers. GrenTech is a qualified supplier of RF parts and components to major global and domestic base station manufacturers. For more information, please visit www.GrenTech.com.cn.
Dealtalk: China firms rush for cash
SHANGHAI/SINGAPORE | Fri Nov 11, 2011 5:59am EST
(Reuters) - Chinese companies are looking to accelerate fundraising plans and brave torrid market conditions to ensure they secure more capital ahead of any crackdown on foreign investment rules.
Growing concerns that the authorities are set to bring in regulation on the use of variable interest entities (VIEs) means companies using the structure are trying to go public or secure private equity investments before any new rules are enacted.
"There has been a growing sense of policy risks, so we need to raise money as soon as possible," said Kyle Zheng, chief executive of E-commerce company, Keduo Media.
Zheng's company, backed by venture capitalists BlueRun Ventures and Northern Light, has just secured a second round of funding worth several dozen million dollars.
"Once we grow big enough, there's nothing to fear about any changes in VIE policies," he added.
Daily deals website Lashou (LASO.O)'s planned offering on Nasdaq was set to be the first public test of market appetite for VIEs since concerns about the structure arose in September. However, it just postponed its IPO due to "corporate developments."
Sources close to the deal say the delay is unrelated to VIE issues, but the hold-up is likely to frustrate its peers who were eyeing its listing as a litmus test of investor sentiment toward the structures.
"There are desperate companies that are burning through their cash and so all eyes are on Lashou," said Stephanie Hui, a partner in the merchant banking division of Goldman Sachs (GS.N), before the delay was announced.
Concerns about VIEs have come into focus recently after a number of companies using them ran into disputes about the structure.
Lawyers say other companies are hoping to list soon in the expectation that any new rules on VIEs will allow listed companies using the structure to be grandfathered.
"The rumors of possible upcoming regulation of VIEs has had the effect of causing some companies seeking overseas IPOs to accelerate their listing timetables," said Alan Seem, a partner at Shearman and Sterling in Beijing.
Nasdaq executive Bruce Aust told Reuters last month that they are still expecting another three or four Chinese companies to list this year despite the volatility in global markets.
STILL VIE-ABLE?
VIEs are used to circumvent rules on foreign ownership in restricted sectors like the Internet by giving off-shore investors control over onshore enterprises via a series of contracts rather than equity ownership.
They are used by about 42 percent of the Chinese companies listed in the United States, according to researchers at Peking University. Examples include Baidu (BIDU.O) and Sina (SINA.O).
China's Ministry of Commerce said in September it was considering new regulations for VIEs, while a leaked paper written by the China Securities Regulatory Commission called for tighter supervision of overseas-listed companies.
"This paper increased the awareness of the vulnerability of the VIE structure," said Frank Tang, CEO of Fountainvest Partners at a conference in Hong Kong. "We would be hesitant to do VIE deals," he added.
NINE MONTHS TO GO
That growing sense of unease among investors about the VIE structure is pushing smaller Chinese companies to try to secure funding from private equity or venture capitalists before the situation grows more uncertain.
Lawyers say any new laws would be unlikely to come into force until the second half of 2012. means many companies who use the structure and want to list overseas or raise more capital from foreign funds feel they have around a nine-month window to do so.
"We hope to raise more money," said Chen Ge, founder and CEO of Top100.cn, a Chinese digital music website backed by Google (GOOG.O) and retired NBA basketball star, Yao Ming.
The VIE issue "would have an impact on our fundraising. For existing investors, there's not much to be done, but those new VC (venture capital), PE investors are asking themselves: 'what shall we do now?'"
For investors willing to take the risk, the VIE fear factor means they could land themselves a bargain.
"There may be more opportunities for investors who are willing to take this risk," said Shearman and Sterling's Seem. "Investment opportunities where funds feel they can potentially have an exit through an IPO within the next eight to nine months might still be appealing, even where there is a VIE structure in place."
http://www.reuters.com/article/2011/11/11/us-china-vies-idUSTRE7AA1TQ20111111?feedType=RSS&feedName=innovationNews&rpc=43
Blockerbuster Chinese biotec/pharma IPO underway:
China National Biotec Said to Plan $2 Billion Hong Kong Initial Offering
By Fox Hu - Nov 7, 2011 11:51 PM ET
China National Biotec Group, a unit of Sinopharm Group Co. (1099), plans to seek as much as $2 billion in an initial public offering in Hong Kong, two people with knowledge of the matter said.
The company has hired China International Capital Corp., Morgan Stanley (MS) and UBS AG to manage the IPO and aims to start trading in the first half of next year, said the people, who declined to be identified because the information is private.
National Biotec, based in Beijing, is the largest biotechnology company in China and the fourth-biggest vaccine maker in the world, according to the company’s website. It has about 8.6 billion yuan ($1.4 billion) of assets and annual sales of more than 5 billion yuan, the website shows.
Two calls made to the general line at Sinopharm’s Beijing offices and two calls made to the general line at Sinopharm’s Shanghai offices went unanswered. Reuters reported the IPO plan earlier today, citing unidentified people.
To contact the reporter on this story: Fox Hu in Hong Kong at fhu7@bloomberg.net
To contact the editor responsible for this story: Philip Lagerkranser at lagerkranser@bloomberg.net
YONG $5.24 - sets the table Wednesday morning. Their year-over-year earnings should be real good. I'm not sure what the share count will be or the fully diluted with the MS investment convert preferred (at $8.80).
Although the PPS has had a good run, it hasn't had the TSTC or LPH liftoff . YONG's earnings should show better growth the LPH and GURE.
the reason the market goes up in Q4
http://www.cnbc.com/id/45202765
GEO is not worth the money...IMHO..Not that its costly but what it costs you in their negative bias on companies they dont do in depth research on..
China no laughing matter.
http://www.nytimes.com/2011/10/30/magazine/the-dangerous-politics-of-internet-humor-in-china.html
HK:2883 China Oilfield Svcs - up 42% 10/26 (12.54 HKD) from 10/4 (8.84 HKD). CNOOC ADR also up a lot 10/26 $189 USD from 10/3 low of $142.
CCME - Class action lawyers file amended complaint. Focus now is on accountants - both Deloitte and the prior accounting firm AJ Robbins. Also under the magnifying glass are Ted Green and Malcolm Bird. The plaintiffs make serious efforts to bring the chickens hatched by DT - Hong Kong back to London, where the parent company is based; and across the pond to the US, where Deloitte LLP is based.
In light of the facts that have since come out, it is amusing to read the standard SOX representations of Zheng Cheng and Jackie Lam asserting the accuracy and completeness of the public disclosures.
The plaintiffs are simply putting into clear focus the nightmare that this sector experienced early this year. May justice be done.
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