Independent Auditor's Report 2015 "In the absence of an independent valuation, we were unable to ascertain whether the net recoverable amount of the Assets acquired will exceed the total purchase consideration. In addition, we have not been able to obtain sufficient appropriate audit evidence to satisfy ourselves of the extent of recoverability of the deposits of RMB 118,800,000 in the event that the transaction is not completed. Consequently, we were unable to determine whether the carrying amount of deposits is fairly stated since 31 December 2013."
Revenue and profit after tax (in RMB): 2010: 448m; 121m 2011: 394m; 60m 2016: 13.8m; (loss 40m). Deposits of more than 100m paid since 2013 and auditor gave a qualified opinion since then and now no longer big 4 auditors. It is better to liquidate the company and refund to shareholders. Just wonder whether any compliance issues, in particular, the company act requirements for red chip. If cost is more than revenue, what is the rational of doing business? Only the top knows. Good luck and believe most who are in are mainly speculators.
These companies not even dare to be listed in mainland China due to its stringent enforcement if regulators found incorrect info, but they got listed here. That shows our standards. Anyway, good for speculative play as it is penny stock.
Frankly, just look at all the counters in Bursa now. Most of them have been "fried". Even some dead Ace counters also can go up very high. Not much choices left, except those scary and non-popular red chips counters now. The choice is yours. Lol
This book is the result of the author's many years of experience and observation throughout his 26 years in the stockbroking industry. It was written for general public to learn to invest based on facts and not on fantasies or hearsay....
Chris88
30 posts
Posted by Chris88 > 2014-10-01 11:49 | Report Abuse
Faster grab ... If not u all will regret