Naibu Global Share Discussion Threads

[alyo] 17/9/2014 00:30

"2p dividend down to 0p the next set of results will see a significant reductionin the cash."Who says Naibu have any cash left? I bet the $25m raised from iPo has been siphoned off into a mysterious 88888888 account. If you are investor you should demand to see bank statements. They clearly don't have much cash left hence why huoyin was paid in shares.

[kenny] 17/9/2014 00:28

Soul Limbo - great research. Nice to see another poster who bases their view on facts not dissing other posters.

Your research really demonstrates that the Stock Exchange authorities in numerous countries are asleep at the wheel. We really do all to have look after our own money as these crooks are running rings around listing authorities in most countries.

I really have missed out on bumper profits by not being a shorter, a la Muddy Waters. However, I don't need to take on extra risks in my portfolio or be greedy by undertaking shorting.

Good luck to all shareholders and shorters in NBU, CAMK and all the other Chinese companies listed in the UK - I am glad I am on the side lines.

[topinfo] 16/9/2014 23:38

LMAO What a clown Bad Robot is. He only started this thread a few days ago. Just shows how much of a clueless idiot he is.

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[topinfo] 16/9/2014 23:20

lol desperate de-rampers. One dodgy Chinese company doesnt make every Chinese company as dodgy as them. Jeeez there are billions of Chinese companies out there so for every one thats dodgy 5 million arent. NBU has no connection to what you are posting and I think what you are doing is bordering on slander and I hope the company takes you lot to the cleaners. There again what will it get from you lot? They cant really repossess cardboard boxes and smelly socks can they.

lol.

See you 2moro for the big bounce here at NBU.

Facts are as per Rns and unless Im told otherwise I will believe them a hell of alot more than some unregistered multi handled nutcase on ADVFN:

Mkt Cap £13 Million

Cash £33 Million

No Debt

Profits of £19 Million

Revenue £98 Million

PE of less than 1.

Enough said!!!

[still waiting] 16/9/2014 23:04

what is it about trainers and cash?

Do they make you run faster?

[soul limbo] 16/9/2014 22:57

CEO of Large Real Estate Firm in China Disappears With Money
By NTD Television | September 11, 2014

The CEO of a large real estate firm in China disappeared with a large sum of money, leaving defrauded victims in 16 provinces and 50 cities. People who sought help from local governments were beaten and arrested by the police.

Xing Lin Real Estate was established in October 2009 with more than 1,000 branches nationwide. Its CEO, Wu Binglin, recently absconded.

Since Sept. 2, Xing Lin’s branches in Inner Mongolia, including Hohhot and Baotou, were found vacant. More than 200 home buyers are said to have been victimized in this region; some allegedly lost more than one million yuan.

Xing Lin branches in the cities of Xi’an, Yinchuan, Baoji, and Chifeng reported similar situations.


In Xi’an, the capital of Shaanxi Province, more than 300 victims with 30 million yuan (US$4.9 million) in losses are said to be involved in two of its stores. One victim said the company had stopped contacting him since he made a down payment in mid-July.

Former Shaanxi TV reporter Ma Xiaoming told NTD he witnessed several hundred angry victims petitioning the provincial government for help.

“There were 200 to 300 people all wearing the same white shirts with printed slogans such as: ‘Xing Lin Return the Money’ and ‘Xing Lin Fraud.’”

In Shenyang City, the capital of northeastern China’s Liaoning Province, a total of 136 Xing Lin branches were closed. Victims there include home buyers as well as more than 1,000 employees who have not received their wages for two months.

Mr. Song, a Chinese real estate agent, told NTD that Xing Lin in Shenyang has defrauded several hundred people of tens of millions of yuan (10 million yuan equals US$1.6 million).

“Their boss is a fraud who specialized in financing,” Mr. Song said. “He tricked both buyers and sellers into allowing him to supervise the money. In fact, the supervision should not be done by the agent, but the state and the Real Estate Board.”

Xing Lin has many other subsidiaries throughout China under different names, such as Heng Tai in Kaifeng City and Lin Tai in Harbin City. Wu Binglin is the legal representative for all of them. They are now all closed without prior notice.

The nationwide shutdown of Xing Lin has resulted in thousands of buyers losing billions of yuan. But many municipal public security offices refused to file cases for victims. Anxious victims had to take to the streets to demand that the government protect their interests. Victims being beaten and arrested by the public security forces were reported in Tangshan, Baotou, Zhangjiakou, Jilin, Changchun, Kaifeng City and other places.

Allegations of breach of contract were made against Xing Lin’s branch in Ningxia more than a year ago by Legal Daily. Victims of the Shenyang branch began to protest in front of its offices on Aug. 11 of this year.

Zhang Zanning, a Law Professor of Southeast University told NTD that the Chinese government is to blame for all this, and it’s the root of this mercenary attitude. Zhang said since the more than 60 years rule by the Communist regime, the morality and beliefs of the Chinese people have been totally ruined.

[soul limbo] 16/9/2014 22:43

AgFeed Agrees to Pay $18 Million to Settle SEC Accounting Fraud Case
AgFeed, Which is in Chapter 11 Bankruptcy, Didn't Admit or Deny Allegations in Agreeing to Settle

By MICHAEL RAPOPORT CONNECT
Sept. 15, 2014 5:07 p.m. ET

A Chinese animal-feed and hog-production company has agreed to pay $18 million to settle Securities and Exchange Commission allegations that it reported fake revenue to meet financial targets and boost its stock price, the SEC said Monday.

AgFeed Industries Inc. inflated its revenue by $239 million by creating fake invoices for the sale of feed and purported sales of hogs that didn't actually exist, among other methods, the SEC said when it filed suit against the company in March. The moves boosted the company's annual revenue over a 3 ½-year period by amounts ranging from 71% to 103%, according to the SEC.

AgFeed, which is in Chapter 11 bankruptcy, didn't admit or deny the allegations in agreeing to the settlement. Five former AgFeed executives and a former audit committee chairman still face related SEC allegations, also filed in March.

A lawyer for AgFeed couldn't immediately be reached for comment.

AgFeed is now based in Tennessee, but it was based in China before it merged with a U.S. company in 2010 and spread its operations between the two countries. The company was delisted from the Nasdaq Stock Market in 2012 and filed for bankruptcy protection in 2013.

The case against AgFeed is among more than 20 the SEC has filed against U.S.-traded Chinese companies and their officials over alleged accounting fraud and other issues. Over the past few years, regulators, auditors and investors have raised questions about more than 170 U.S.-traded Chinese companies about their accounting and disclosure practices.

The $18 million settlement will be distributed to victims of the company's fraud, the SEC said. The settlement is subject to approval by both the Tennessee court where the SEC's lawsuit was filed and the Delaware court overseeing AgFeed's bankruptcy.

[21trader] 16/9/2014 21:57

2p dividend down to 0p the next set of results will see a significant reduction
in the cash.

If things were really solid they could easily maintain the dividend no wonder
the price is collapsing.

[21trader] 16/9/2014 20:54

First sale in morning will be topinfo

[lab305] 16/9/2014 20:26

Well done on your buy Top info. Next stop £1.

[lab305] 16/9/2014 20:26

Hey Stiggy , to accuse someone else of desperation rather smacks of hypocrisy don't you think ?

[deanroberthunt] 16/9/2014 20:16

they're even scalping the Germans....

[travls] 16/9/2014 19:39

I would never put a penny into a company run by a tiddlywink.

[topinfo] 16/9/2014 19:29

Looks like they are having kittens. Lol.
They tried same at FRR and BHR last 2 days and both have soared since I bought and declared such. Set of idiots they are, or should I say he is coz its same person lol

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Chinese company



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[topinfo] 16/9/2014 19:28

Jeeez some desperate de-ramping going on here. You Guys will stop at nothing to try get the share price lower. Better luck next time coz this is on for a bounce from here. Long and strong from 22.7p, already up as it happens. Bring on 30p+ 2moro Chaps.

Or should I say Girls...Children lmao

[soul limbo] 16/9/2014 18:56

Company: 'CEO And COO Disappeared, Most Of The Company's Cash Missing'
MYLES UDLAND

2 MINUTES AGO


"...and like that: he's gone."

This is an actual headline from a company press release, first alerted to us by the folks at FastFT: "CEO and COO disappeared, most of the company's cash missing."
In a statement, shoe company Ultrasonic said that its CFO, Chi Kwong Clifford Chan, has been unable to reach the company's CEO, Qingyong Wu, and COO, Minghong Wu, who apparently left their homes and are untraceable.

Chan also said that most of the company's cash funds have been transferred and are longer, "in the company's range of influence."

So basically, the money's gone.

Shares of Ultrasonic trading on the Frankfurt Stock Exchange were down as much as 76% on Tuesday.

Tuesday's announcement from the company also follows news on Friday that its COO, Minghong Wu, would take a six-month leave of absence for health reasons. That announcement said CEO Qinyong Wu would would assume the COO's responsibilities.

Now they're both gone.

And to add an even more bizarre twist to the story, in the same announcement that said Ultrasonic's COO would take a leave of absence, Chan, the company's CFO, said he would step down for family reasons on September 30.

So now we've got two missing executives, who appear to have taken all the company's money, and the top executive left remaining was on his way out the door.

Ultrasonic's market cap, according to Google Finance, is $91 million. Playing microcap Chinese companies listed in Frankfurt comes with, it appears, substantial risks.

Here's the intraday chart of Ultrasonic shares trading in Frankfurt.



According to its investor relations site, Ultrasonic is "China's Urban Footwear Company." Ultrasonic AG, which lists on the Frankfurt exchange, is a German corporate with a registered office in Cologne, Germany. One-hundred percent of this company is owned by China Ultrasonic Outdoorwear Holdings, which is based in Hong Kong.

Here's a schematic of the corporate structure, which seems less-than-totally clear.

[kenny] 16/9/2014 18:08

First on Youbisheng Green Paper now on Ultrasonic the controlling family run off with the money. I guess outright fraud is a very accurate description. All quoted companies, so if you are relying on being protected by the authorities, think again. Proof, if more was needed, that the Nomads are only interested in their fees.

Easy to disappear in China especially if you have loads of money and with no extradition (no Chinese defrauded, only non-residents). Now we all see why the so called "outside shareholders" were selling at any price.

As the old saying goes; a fool and his money is easily parted.

[21trader] 16/9/2014 17:19

"Earlier this year, another Germany-listed Chinese manufacturer, Youbisheng Green Paper, said its chief executive had gone missing without explanation.

It later initiated insolvency proceedings"

Maybe it's time Aim withdrew all chinese stocks they are not exactly safe havens.