Zuoan Fashion Limited America

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Zuoan Fashion Limited America

NYSE

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unifin10

12/28/18 5:51 AM

Post #260

No news at all from Zuoan? Anyone?

ROCKHard

11/08/17 2:53 PM

Post #259

Re: #256: @Jcooper2008 - Edwin, I want to email you about this case

Hi John,
I too would like to understand more about what to do about the results of the revocation of this stock. I've been stuck with only a small amount of shares since. Could I write to your email, or if you would rather post some of what you know about this here? Thanks, Steven

unifin10

08/19/17 11:21 AM

Post #258

Dag Edwin,

Kan je me contacteren ivm Zuoan aub

unifin10@hotmail.com

Groeten

STOCKPICKER4LIFE PremiumMember

05/13/17 8:36 PM

Post #257

[url]www.smadja.ch/events.html#cof
[/url][tag]http://www.smadja.ch/events.html#cof[/tag]
[img[url]]www.britishchamber.cn/content/2015-innovation-and-capitol-forum-beijing
[/url][tag]http://www.britishchamber.cn/content/2015-innovation-and-capitol-forum-beijing[/tag]

Jcooper2008 Free

03/31/17 12:12 PM

Post #256

Re: #254: @edwindk - Seems like something could be happening:

Edwin,

I want to email you about this case if you have sometime time to talk.

My email is johnc2008@hotmail.com

NITIN1238

03/16/17 12:32 PM

Post #255

Whats going I see the stocks showing 0 value in my trading account now ....

edwindk

03/10/17 6:38 AM

Post #254

Seems like something could be happening:

http://www.prnewswire.com/news-releases/the-seiden-group-announces-us-shareholders-formation-of-a-group-to-recover-investor-funds-through-a-proposed-receivership-over-china-based-zuoan-fashion-ltd-ticker-zahlypk-300418765.html

I don't know who took the initiative.

Regards,
Edwin.

Kinny

02/28/17 6:18 PM

Post #253

Re: #252: @unifin10 - Hi Edwin,

I am convinced the CEO found a way to siphon the money off to benefit himself or family and/or friends. That silly website they purchased for zillions of dollars likely had an under the table deal to benefit him.
It was a rediculous amount of money they paid and look.... it really didn't do any for the company. Stupid.

unifin10

02/26/17 5:37 PM

Post #252

Re: #248: @edwindk - Basically, not filing reports (combined with not responding

Hi Edwin,

Last thing I heard (a few months ago) from a HK contact that the CEO was in hiding in his home region and could not be reached. But still it seems that they are selling goods (any real confirmation on this lately?). Probably gone with the cash (bankruptcy seems less probable given the amount of cash they reported).

Edwin, you can reach me at hotmail with my name indicator.

RealDutch

02/25/17 5:46 PM

Post #251

Re: #250: @taio100 - They should have at least issued a press

I can't be sure. But my broker told me DB was planning a conversion. 16 common for 1 ADS. They also said that was the initial plan but they can't be sure now.

Nobody said anything about selling. Perhaps your broker will force you to sell because you can't hold them in your account. But my broker didn't get into that. There's also the question of who has to pay the conversion fee. They didn't answer that question either.

So it does seem that the books are closed. The ADR's frozen or whatever. You still own the stock. IMO.

taio100

02/24/17 9:13 AM

Post #250

Re: #249: @RealDutch - Your best chance is that they become profitable

They should have at least issued a press release if they went bankrupt. Now with the ADR is terminated, I think DB will try to sell off the shares if they can. I think most people own shares through the ADR, how can we still hold on to our shares and wait for a recovery? Correct me if I'm wrong but we don't own the ordinary shares. So technically we don't own the company once the middle man is gone.

RealDutch

02/24/17 8:47 AM

Post #249

Re: #248: @edwindk - Basically, not filing reports (combined with not responding

Your best chance is that they become profitable and pay a dividend. I received $1,580 in dividend from them in 2014. Or perhaps they will sell the company to a buyer in China. The third option is to relist it in China in a few years.

In all those cases a shareholder lawsuit will only obstruct them. They don't have any cash so there is nothing to gain. And we don't have a crook CEO like SCEI did. That we know of. So I think I'm making a valid point. What is there to gain? If you take control of the company, assuming you can, then operations will go down the drain.

If you are forced to sell your shares then that's a different matter. Perhaps you should sue your broker.

edwindk

02/24/17 6:09 AM

Post #248

Re: #247: @RealDutch - What a mess. Can anyone tell me what

Basically, not filing reports (combined with not responding to requests for information) is reason enough to sue them.
Additionnally, they do not respond to queries from the share registrar.
Similar cases exist where either a settlement has been reached with Chinese companies that have gone dark, or where the parent company has been placed under receivership by a US judge, which leaves the not so easy task to recover in China the assets that the parent company legally owns.

I don't know what would happen to the holders of the current ADRs if Zuoan should relist in China. I would however be quite surprised should they have such a plan.

RealDutch

02/23/17 6:47 PM

Post #247

What a mess. Can anyone tell me what the reason is for the lawsuit?

It was NYSE rules (market cap below $15M) that dropped it to the grey sheets. It was US tax laws that destroyed it even more since the company is worth dead more than alive. It was Deutsche who could screw us next if we are forced to sell our shares. Or the SEC if they revoke it.

What if the company has a plan to list it in China? They have to do something, eventually. What exactly did they do wrong except not file?

taio100

02/23/17 7:55 AM

Post #246

Edwin,
Email me - taiot100@yahoo.com . I see DW is interested also.

DW35

02/22/17 2:54 PM

Post #245

Re: #244: @DW35 - I'm also interested in a lawsuit. I'll send

Iust realized I don't have PM. My email is dwall3@gmail.com

DW35

02/22/17 2:50 PM

Post #244

Re: #242: @edwindk - Hi taio100,

I'm also interested in a lawsuit. I'll send you a pm with my email.

taio100

02/22/17 2:29 PM

Post #243

Re: #242: @edwindk - Hi taio100,

Edwin,
I don't have PM. If you do message me. If not I'll post my email on the board. Thanks

edwindk

02/22/17 8:07 AM

Post #242

Re: #241: @taio100 - I would definitely be interested in a lawsuit.

Hi taio100,

Could you PM me your email address so we can discuss this further?
I've already had some contacts with a lawyer.

@everyone else, if you would be interested in participating, do not hesitate to post a message.

Regards,
Edwin

taio100

02/21/17 4:41 PM

Post #241

I would definitely be interested in a lawsuit.

edwindk

02/21/17 9:16 AM

Post #240

Re: #239: @kindama - The way I read it is that Deutsche

Hi kindama, thank you for taking the time to explain your point of view.
I think it could certainly be worthwhile to sue Zuoan to recover some assets and to finally get something to show for all the money investors have lost by buying their stock.

I'm interested in knowing how the group of investors you're a part of, to sue the other company, was formed?
I would certainly consider filing a lawsuit, but I'm quite reluctant to go at it alone.
Also, do you have to spend much of your time on this lawsuit you're involved in, or is everything handled directly by your lawyer?

Regards,
edwindk.

kindama

02/20/17 7:41 PM

Post #239

Re: #238: @taio100 - Just spoke with a rep from Deutsche Bank,

The way I read it is that Deutsche Bank will not be able to sell the shares because the transfer agent has closed the books.

This means that ownership interest of the ADRs will continue, but will be frozen.

I had a somewhat similar situation with another company and a group of ADR holders filed a lawsuit in the Cayman Islands to take control of the parent company. We have been successful at this stage and now our attorney is filing suit in china on behalf of the parent company to recover assets from the management group. I don't know whether that will be successful.

A similar path could be available to Zuoan shareholders. The attractiveness of filing suit will depend on whether the company appears to be doing well enough to make a recovery sufficiently likely that it's worth spending the money on lawyers.

taio100

02/16/17 12:09 PM

Post #238

Just spoke with a rep from Deutsche Bank, he said the books are closed on Zuoan. Nothing we can do about it. Just wait for whatever amount they can sell for it. Basically worthless. Good luck on future trades.

taio100

02/16/17 8:55 AM

Post #237

The worse part is these guys are still selling new products on TaoBao. Did you call Deutsche Bank about transferring the shares?

taio100

02/16/17 8:46 AM

Post #236

Re: #235: @edwindk - If you search for Zuoan on the following

Best thing to do is maybe just surrender the shares and get some tax benefits. It's impossible to contact these guys. I don't think they will make an effort to tract you down and give you a dividend after the ADR is dissolved. Guess will just have to eat this one.

edwindk

02/16/17 3:17 AM

Post #235

Re: #234: @taio100 - where did you hear this? Is there

If you search for Zuoan on the following webpage, you'll see the corporate action notice from Deutsche Bank, the ADR depositary:

https://www.adr.db.com/drweb/corporate_actions_type_e.html

What's your take on this? I get the impression we aren't being offered much choice but to have our ADRs become worthless.

Regards,
edwindk.

taio100

02/15/17 8:28 AM

Post #234

where did you hear this? Is there a link to the story?

edwindk

02/08/17 10:25 AM

Post #233

Anyone receive any news about the ADR cancellation?

I own some ADR of Zuoan and I'd like to convert them into ordinary shares when the ADR will be cancelled in two weeks time.
Unfortunately my broker does not allow this.
Did anyone here receive any news from their broker offering them this possibility?

I am convinced there is quite a lot of value left in Zuoan, but to unlock this value, we first need to own the underlying shares, and not have them sold by my broker against my wishes.

Thanks a lot,
Edwin.

taio100

01/13/17 11:47 AM

Post #232

Anyone been able to contact these people? Looks like Desheng and Zuoan share the same address - Building 1 Lane 618, Dingyuan Road Songjiang District SHANGHAI, SHA 201616. The merger most likely happened, but there hasn't been any releases for over a year. Wonder if anything will come of this company

kindama

01/05/17 6:20 PM

Post #231

Re: #230: @taio100 - What happened to the website? Looks like

Leather business website is still online:
http://www.zacn.com.cn/

Still seems to be active on VIP:
http://brand.vip.com/ZUOAN/

JD:
http://mall.jd.com/index-34982.html

Yintai:
http://www.yintai.com/store/store-50000324.html

Tmall:
https://zuoanxb.tmall.com/

taio100

01/04/17 1:43 PM

Post #230

What happened to the website? Looks like now way to contact these people

taio100

12/27/16 2:53 PM

Post #229

Not a word. But it does look like they have been getting sales from their leather business. Still don't know why they gave a dividend just to rip people off. Especially since they didn't really raise capital after the dividend. Hopefully they will relist

borderline Free

11/28/16 5:02 PM

Post #228

Any news from this company? Or is it a foregone conclusion that they stole all the money and this stock is dead as a doorknob?

RealDutch

10/13/16 12:17 PM

Post #227

1 cent. Congrats to the idiots who are running this company.

taio100

09/29/16 1:25 PM

Post #226

Definitely good news that they are still active. Lets hope there can be some relisting or dividend. That would go a long way towards recovery. Fingers crossed

kindama

09/29/16 9:00 AM

Post #225

Lots of current season items on yintai too:
http://www.yintai.com/store/store-50000324.html

kindama

09/27/16 11:42 AM

Post #224

Re: #223: @taio100 - Looks like Zuoan may be making clothes again.

Good find. Looks like they've also been selling some clothes via VIPSHOP (along with mostly leather goods)

http://brand.vip.com/ZUOAN/comment/

taio100

09/26/16 1:04 PM

Post #223

Looks like Zuoan may be making clothes again. http://dzd.dsgf4567.com/vshop/detail.html?sid=130821&iid=289108

taio100

07/22/16 11:12 AM

Post #222

Looks like Xiniya is selling itself and changing it's core business from clothing to lending. It would be nice if the president of Zuoan sells the company and the new management can get the company relisted on the NYSE and start filing reports again. Still no updated on the Desheng transaction.

kindama

07/21/16 10:04 AM

Post #221

Re: #220: @borderline - So they were allowed to list on the

Chinese subs are regulated in China.

Parent company is subject to laws of Cayman Islands.

Parent company is also subject to SEC regulation, but with no US assets the problem is that there is no avenue for redress.

If a crime has occurred then shareholders have to file a claim in Cayman Islands. If successful (and in cases where a crime has occurred the CI proceeding is often uncontested) then the resulting CI ruling provides standing for filing a claim in China.

Company is still selling accessories on TMALL:
https://zuoanxb.tmall.com/?spm=a1z10.1-b.1997427721.d4918089.fz2sbm

borderline Free

07/20/16 3:41 PM

Post #220

Re: #217: @Kinny - It's in China, out of reach of US

So they were allowed to list on the NYSE without anyone regulating them? That's crazy. It seems to me that there is nothing stopping the CEO from just taking the cash out of the bank account and walking away.

Does anybody know if the company is active at all?

surfer44

07/18/16 12:49 PM

Post #219

Re: #218: @unifin10 - Look what happened to XNY today. Anything similar

Look what happened to XNY today. Anything similar in the making for Zuoan?

The thing in China is that it is ultra-competitive so businesses like apparel and restaurants are difficult. If a mom and pop shop can open a business it's a problem. Some businesses like XNY and CNTF are making the transition and I imagine ZAHLY with all its cash might be thinking the same thing. FWIW.

unifin10

07/18/16 12:20 PM

Post #218

Re: #217: @Kinny - It's in China, out of reach of US

Look what happened to XNY today. Anything similar in the making for Zuoan?

Kinny

07/11/16 10:28 PM

Post #217

Re: #216: @borderline - How can a company simply go dark? Who

It's in China, out of reach of US authorities.

Nobody regulates them.

borderline Free

06/28/16 3:05 PM

Post #216

Re: #215: @taio100 - I don't think they make clothing anymore.

How can a company simply go dark? Who regulates them?

taio100

06/17/16 1:24 PM

Post #215

I don't think they make clothing anymore. Only leather bags and belts now. Only three ways for investors to get money back. Dividend or if Desheng goes public. Or somehow if they can relist in an American exchange. All seem unlikely at this point

kindama

06/10/16 9:33 AM

Post #214

I don't think they introduced a 2016 apparel collection. And the apparel products have disappeared from ecommerce sites. Apparel companies are reporting very weak results right now so it may have been good business judgment to step away from that segment. But they do have new leather/accessories products.
https://zuoanxb.tmall.com/shop/view_shop.htm

A bunch of brokers have put new restrictions on trading of "grey market" stocks so it's hard to place orders for ZAHLY.

unifin10

06/10/16 2:29 AM

Post #213

Re: #211: @taio100 - Looks like they have gone dark. Not

They seem to be very busy as far as their telephone numbers go...

Wonder whether their shops are still doing business..

RealDutch

06/09/16 6:34 AM

Post #212

Re: #211: @taio100 - Looks like they have gone dark. Not

There's no point. If you get lucky they will list in China somewhere in a few years and your shares will be worth 100x what they are worth today. No point for them to be a US-listed company.