Naibu Global Share Discussion Threads

[deanroberthunt] 28/11/2014 11:46

good here innit.

[rearsky] 27/11/2014 11:15

@gnnmartin
I let you dig into those: all official and local. By all means check, employ local due dil experts, and share your comments. Pretty damning IMHO.

www.fjqz.gov.cn/9CEA2D0DF0DA200166CD2760C9A9D1E9/201312/25110554czgp.html

www.jjgkw.com/gkxxw/dwgk/newstext.asp?id=18470

www.jjjjb.com.cn/html/2013-03/25/content_371993.htm

www.jjjjb.com.cn/html/2014-02/28/content_407850.htm

www.jjgkw.com/gkxxw/dwgk/newstext.asp?id=33807

DYOR!

[daicaprice] 25/11/2014 20:15

freddie with they're track record I'd buy a shedfull.

DC

[the stigologist] 25/11/2014 19:25

hTtp://www.moneyweek.com/investment-advice/penny-shares/penny-sleuth-why-i-dont-buy-chinese-stocks-on-aim-60618

Why I don’t buy Chinese stocks on AIM

By Tom Bulford

Sep 18, 2012


Greg Rudd, the brother of the former Australian prime minister, once met a Chinese businessman who gave him some prudent advice.

"You tend to see the good in people, Mr Rudd", he started. "People like you. You laugh a lot. But you’ll never make money in China with that attitude. You’ll only be taken advantage of. People will trade off you. They won’t pay you. The number one rule of doing business in China is this; never trust a Chinaman. Why would you as a foreigner trust a Chinese businessman when we as Chinese don’t trust each other?"

Now that advice is pretty close to the bone. But I’ve said it before in Penny Sleuth – you have to be very careful when you invest in a Chinese company. The record of AIM-listed Chinese companies is simply awful. And with so many still coming to market, there is a real chance that many private investors will end up making some very expensive mistakes…

[the stigologist] 24/11/2014 23:33

since when do auditors turn up to answer questions at an AGM ?

[gnnmartin] 24/11/2014 23:29

Interesting rearsky. That is surprisingly open for any country, and I don't expect China to be more open than anywhere else. Are you saying that all tax records are accessible to whosoever cares to look? Or just company taxes?

In the UK the only data one can get on the tax paid by a company is from the company's annual report. Naibu reports that it paid tax of RMB104m on earnings of RMB417 (page 48 of the report). Are you saying that this is contradicted by publicly accessible government records? Perhaps we should check that with the auditors at the next AGM. Would you please post the URL of the online tax records: that will help phrase questions to the auditors.
Nigel Martin

[rearsky] 24/11/2014 21:16

@loverat: yes there is evidence. Tangible, bulletproof, official and local evidence. The tax records can not be fudged. They are accessible online by any proper Mandarin speaking due diligence expert and they clearly show Naibu corporate tax is negligible, way below what they claim, hence they have been inflating sales, margin, earnings, tax for years....

[asturius101] 24/11/2014 21:01

How do you know a chinese businessman is lying?When his lips move

[loverat] 24/11/2014 20:57

KNIGEL

Who knows what the truth is but there is a fair chance he is right given the record of some of these companies.

However, there was a time when folk used to conduct thorough research first before calling everything a fraud.

[knigel] 24/11/2014 20:47

RMB 315 million cash.... it's dire IF AIM companies can post misinformation and even more dire if BB posters can state the cash figure is false and simply get away with it! BTW not invested here now but watching..

[the stigologist] 24/11/2014 20:43

joined up thinking is not something ratboy likes to indulge in

his usual strategy for buying a stock is either to try to catch a falling knife or simply to follow the_stig

[loverat] 24/11/2014 18:48

So, you don't know then. That's what I thought.

[spob] 24/11/2014 18:35

There's no point retracing old ground

You can lead a horse to water and all that

[loverat] 24/11/2014 18:08

LOL

What more evidence?

He has just said he does not believe the company has the cash it says it has. Perhaps I have missed something - but has someone here done a proper analysis and found any specific evidence of fraud concerning the cash?

I only ask because I remember one poster (who was a trained accountant amongst other things) posted a forensic analysis of another company's balance sheet showing without doubt there was fraud. It was so impressive I even recall Lucien Miers lifted the post and put it in one of his articles.

It is far too easy for TW and his troll club to allege fraud based on a hunch and speculation but where is the actual evidence? Without that such allegations are reckless and misleading.

[spob] 24/11/2014 18:04

Pump get it

No pun intended

[spob] 24/11/2014 18:03

To think Simon Thompson managed to pump this to near a pound in February

And today it hit 11p

Lol

[spob] 24/11/2014 18:00

I think the actions of the company say it all

What more evidence could you possibly need

[loverat] 24/11/2014 17:48

That is a very simplistic analysis of the cash position. Is it based on any in depth look at the accounts?

Seemingly not.

He may well be right but he should at least come up with a better justification than that.

If he just said that he believes there is no cash because most Chinese companies are frauds that would have been more convincing.

[soul limbo] 24/11/2014 08:00

delisting next ?

[alyo] 24/11/2014 07:56

Typical Chinese company here. Must be laughing at the Brits all the way to the bank