IT Tech Packaging Inc (ITP)

[manatee]

I wouldnt pay for their research either. No credentials to support giving them money, either as a subscriber or the company being researched. Even their name tells you that they are all about trashing no matter what the actual facts show.

"Muddy Waters states in the report that they make no representation as to the accuracy, timeliness or completeness of the information they provided. Furthermore, Muddy Waters has no apparent history of providing credible independent research or any research for that matter as they state this was their "inaugural report" and even though their research is "available as a subscription service" to institutional investors and they are available for "confidential due diligence engagements" they were making an exception with this report which is being provided "free of charge."
According to their website, Muddy Waters consists of a two-person team that, based on a review of the bios on their website, has no apparent experience in the paper industry in or outside of China. In addition, the team only visited Orient Paper's facility once for 90 minutes after a major snowstorm."
"One of the team members is a U.S.-educated former attorney and owner of a self-storage business in Shanghai who is "proficient" in Mandarin. The other is a native Southern Californian who owns a business that "supplies products and materials to the global construction industry from China," and claims to have worked as an "equity analyst with a Los Angeles-based investment boutique" without naming the firm or the period of time he worked there or the position he held. "

When this team visited the Company's facility in Baoding they offered to write a paid-for research report on Orient Paper, but the Company declined their offer.


I bet if ONP ponied up for the paid-for research report they would have had a different opinion of ONP's business. Too bad that its way too easy to bash the less known stocks when the overall market is getting hammered, heck, almost all of them are going down right now. They need to try picking a loser when the indexes arn't getting pounded to get some creds before they go liable.