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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.
Edwin,
Email me - taiot100@yahoo.com . I see DW is interested also.
Edwin,
I don't have PM. If you do message me. If not I'll post my email on the board. Thanks
I would definitely be interested in a lawsuit.
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.
The worse part is these guys are still selling new products on TaoBao. Did you call Deutsche Bank about transferring the shares?
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.
where did you hear this? Is there a link to the story?
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
What happened to the website? Looks like now way to contact these people
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
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
Looks like Zuoan may be making clothes again. http://dzd.dsgf4567.com/vshop/detail.html?sid=130821&iid=289108
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.
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
Looks like they have gone dark. Not sure if they will file again or release press again. Anyone able to get in touch with management?
Guess they miss the april 31 filing date for the annual report that most companies follow.
Has anyone been able to buy or sell shares since there is no bid or ask price?
That should be his brother Tianzhen Hong. He's the third one in the picture
http://blog.sina.cn/dpool/blog/s/blog_1540119450102wdo2.html
The market cap is ridiculous at $695,000. The financial statements say they pay GHP Horwath $234000 to audit their books. But at this point it's hard to believe anything they say in their filings. The merger with Deseng is complete I think because they list Hong Tianzhen (brother of James Hong and director and vice general manager of ZA) as one of their partners. It is just a lot of frustrating cow manure at this point.
If nothing else, their products are still selling online. At least they haven't disappear completely off the planet. Hopefully they will file the annual report in late April or mid May as they did last year.
I was hoping they issued the new shares for the acquisition of deseng. It doesn't make any sense that they paid out about $5mil in dividends but tried to raise $3mil with new shares. It sucks that they stop filing quarterly or annual reports. Considering that the CEO owns over 50% of the shares, don't know why management would sit back and do nothing about the share price. Even if the company is a fraud, he could have pumped the share price and dumped it. Confusing and frustrating.
Has anyone been able to get in touch with management?? It seems they are selling leather belts, wallets and bags online. Any word on the acquistion of deseng? It would be nice if they gave a dividend as they have done in the past.
https://zuoanxb.m.tmall.com/shop/shop_auction_search.htm?spm=a1z5f.7632052.0.0 .