Global Hunter just this a.m. made CCME their lead topic in a special brief note from Tim Arthurs:
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Lot’s of really good news in the China space today, CCME’s dividend, CBEH auditor upgrade, CVVT CFO upgrade…..
FYI, we anticipate news similar in the space over the next 12-18 mo’s.
CCME announced semi-annual dividend of 5-10% of net profit starting from June 2011.
CME implementing a dividend is a big deal, this company can throw off a tremendous amount of free cash flow and could be a material dividend paying stock, this is also the first small cap Chinese company, that I’m aware of, to do this, shorts most likely get squeezed, investors will be rewarded with a high yield and this should be a roadmap for the better and more profitable Chinese companies out there.
CBEH China Integrated Energy appoints KPMG as independent auditor
CBEH has dismissed Sherb & Co., LLP and engaged KPMG, LLP, as its independent auditor. The dismissal of Sherb & Co., LLP as the company's independent auditor did not result from any dissatisfaction with the quality of professional services rendered by Sherb or disagreements with Sherb on any matter of accounting principles or practices, financial statement disclosure, or auditing scope or procedures.
CVVT announced new CFO this morning.
The company has been under pressure to improve its infrastructure as a public company. The new CFO has a very strong international, financial, accounting and capital market background. We believe this is a big, positive step forward and could be the next step the company has in mind is a big- four auditor.
