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| Share Name | Share Symbol | Market | Stock Type |
|---|---|---|---|
| Aquatic Food | AFG | London | Ordinary Share |
| Price Change | Price Change % | Share Price | Last Trade
|
|
|---|---|---|---|---|
| 0.00 | 0.00% | 12.50 | 00:00:00 |
| Open Price | Low Price | High Price | Close Price | Previous Close |
|---|---|---|---|---|
| 12.50 | 12.50 |
| Top Posts |
|---|
Posted at 01/7/2017 18:01 by stampylong trader For Po Ling. I think when people see an a vacancy for a role - most people do not look at the company share price and other publicly available info, well not in depth. We as investors would probably do just that before applying for the job. Or she saw what we saw but the remuneration package was big enough to take a gamble and it would work out.I gave Po the benefit of the doubt and I thought she could turn the boat around, but she hasn't been able to. No reason was given for the resignation and no CEO "we wish her the best in her future endeavours" usual spiel. (I didn't invest) |
Posted at 29/6/2017 10:38 by caradog Look at the web sites of Sorbic and China Food Company. Same layout, same chairman, same address, same fate.Even city types were foolish enough to invest: |
Posted at 22/3/2017 16:29 by celeritas Same here regarding Po ling, I exchanged hundreds of mails backs in the WCC days, cant fault her.You raise the issues that concern me and stop many from investing here but it could be so different if the CEO was more proactive in engaging investors who will need to be constantly reassured because of the scams that have gone before them. WCC investor relations were great on AIM, it stood out. |
Posted at 20/3/2017 20:38 by caradog Not to mention "Investors had doubted (sic) about its accounting practices... " |
Posted at 20/3/2017 17:55 by brwo349 I am in absolutely no doubt whatsoever the accounts are false. There is not even a tiny part of me that believes they are true. Not even a minute part. The share price is the clue and why no directors or major shareholders are buying at an unbelievably cheap price.If this is a legitimate business why was it listed on the London AIM market when 95% of the other Chinese businesses have been unmitigated disasters for shareholders. If you owned a great business like this is supposed to be the last thing you would do would list it on the AIM market. Po Ling may be an honest person. After all how can she personally verify all the financials? It is up to the auditors to do that. Remember all the other Chinese frauds had their accounts signed off by auditors. I'm sure it is not difficult to forge an invoice for example. I think there may be a very small real business here but nowhere near the size portrayed. Shame on the people involved with this. It's shameful. They must look on western investors as sheep to be sheared. Maybe they are right. Some deserve a good shearing but not all. |
Posted at 20/3/2017 13:49 by celeritas Po Ling Low is a well respected CFO who will add gravity to the accounts.However I cant say the same for the CEO, he could very easily just de-list from the UK as many have done in the past. Past Chinese companies have completely tarnished the sector, would anyone now take the chance with plenty of other co's to invest in, after all this is still about attracting investors. I also dont like talk of trouble moving money to the UK, major red flag. I'm sure not all Chinese co's are the same, trouble is now spotting the very rare good one. |
Posted at 13/2/2017 14:17 by celeritas Another going a very similar route to many Chinese cos before it. I do think Aim listed Chinese Cos are are impossible to invest in until something is done about the fickle nature the CEO's treat UK investors. |
Posted at 07/2/2017 11:13 by galeforce1 mattjosYou are definitely right to warn investors to be careful with Chinese stocks on AIM, given their track record. On the positive side, AFG appointed an impressively high-calibre CFO last year. She's a career CFO, who was with West China Cement(probably my most profitable investment of the last 10 years) and before that with PWC in Kuala Lumpur. She has a useful options package, from 20p to 45p. The presence of a good CFO gives me a bit more confidence here. RE. the management not appearing in London. I understand the UK-based NEDs advised them not to come last year, given the turmoil of the Brexit vote and the Chinese frauds on AIM in 2015. That was probably the right advice. Nobody in the UK wanted to know about Chinese companies last year. That might be very slowly changing. Haike Chemical has recently had a good recovery. It's not surprising there is zero liquidity, given the spread. Also, liquidity wasn't helped by a decision to cut the interim dividend in September, which sent all the wrong signals to nervous investors. We are due a Q4 trading statement any time. I'm looking for Q4 turnover over 225m RMB (GBP 26.4m) and net margins around 11%. |
Posted at 24/1/2017 21:11 by galeforce1 In a nutshell, it's the China fear factor. In 2015 several Chinese listings on AIM, all from Fujian Province, turned out to be frauds. Investors lost everything. It caused a lot of damage to the reputation of all smaller Chinese businesses listed in London.The Chinese authorities were not at all pleased about the situation, and are now supervising much more actively. This makes a repeat of the 2015 scandals unlikely. But it will take some time before even respectable businesses like AFG are removed from 'bargepole status' by most private or institutional investors. But the recovery in Haike yesterday was encouraging. Things might be changing. |
Posted at 09/8/2016 11:04 by colin12345678 bumpylanePosts: 73 Observation Opinion: No Opinion Price: 16.00 RE: Agm19 Jul '16I went to the AGM. No Chinese management there. Just the NEDs Jonathan Quirck and Richard Sweet. Quirck chaired. Not that many investors but we haf a useful discussion about the company. An Irish investor who'd come over specially asked a lot of detailed questions about the company's operations, and about current trading and margins. NEDs said they couldn't comment as the company was in closed period. This investor was in the fish business, and definitely knew a lot about AFG's ops/markets. He thought the debtors figure was high.. I criticised the corporate governance - in particular why was there no new CFO appointed after 6 months? Lots of blustering and apologising in explanation. They said they had been trying hard, but getting the right candidate v difficult, bla bla. But suggested they were almost there. I said that no CFO in place put out a terrible message to investors. They agreed. I asked why no Chinese board members present. They said they'd advised them not come now. Better to come later this year or next and attempt a relaunch when market is more favourable, cfo appointment made, Brexit turmoil diminished.I think that's quite sensible. I asked about board's commitment to London listing. They said company was committed to London listing. I said I appreciated NED j Quirck buying shares - £40k's worth according to my calcs. He said he'd bought them because he thinks they will rise, not from duty. He said the value of the listing to AFG is because its suppliers are mainly outside China, and it gives the credibility with these suppliers. I'm reasonably encouraged by this meeting. If this company can remain listed it will do well. |
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