Replies to post #2511 on The Rising Influence of Rising Affluence

[flatlander_60048]

Correction - PE of 5 not 5%.

Thanks
FL

[DewDiligence]

China + (reverse merger into corporate shell) is not a happy combination. I would say the chance of YONG’s being a quasi-legit scam (or worse) are pretty high. Regards, Dew

[10nisman]

However, after watching the price get cut in half based on Seeking Alpha Articles packed with innuendo but little fact, I decided to establish a small position. KPMG has audited the annual reports and they have not noted anything unusual. Motley Fool claims that they have toured Yong's facilities, and they indicate that they are real.

I wouldn't rely too much on KPMG's audit nor The Fool's claims. I would agree with Dew's statement that there's a decent probability that YONG is a scam.

[ilpapa]

I took comfort in the fact that an arm of Deloitte was CCME's auditor and lost a few bucks.

OTOH, any reputable US firm with an operation in China would be insane not be be monitoring the its situations like a hawk, and that might be some comfort.