Qingmei

Yang didn't translate it wrongly. Not sure how authentic is the article, but if its true, it's going to be in deep trouble since they didn't announce to sgx their operations stopped. But from what I read, the article seems authentic with the background info about Quan Zhou and Jin Zhou all correct.. It's definitely not a comment by a forummer but by someone who knows the industry who wrote this. Take care

eh, how can?

In their FY12 press release in Aug 2012, they said: "Qingmei’s financial position remains healthy with zero bank borrowings. Cash and cash equivalents stood at a healthy RMB581.9 million as at 30 June 2012...."

That's about S$120 million ! It's not kacang putih!

If so healthy, why now closed shop? Have they really closed shop, or whatever?

I already sold all my Qingmei share with 20% lose after I read this news.
 
Now, the only way to recover is waiting for them to buy back but I do not think they will do this.

It was first reported on 26 Sept by an established web site in china.
qing mei has been shutdown for a few months due to order shortage.
it has sold its equipment and production line. 
证券时报网（www.stcn.com）09月26日讯
证券时报记者近日在福建泉州实地采访了解到，当地最大一家鞋材生产企业——新加坡上市公司清美（中国）有限公司已经停产数月，偌大的工业园几近空无一人。据当地人透露，清美公司原是一家规模庞大的代加工厂，代工包括“贵人鸟”、“乔丹”、“赛琪”、“361度”在内的许多知名品牌，停产的主要原因系订单严重不足。目前，公司的设备、生产线已经出售，公司靠出租厂房和办公楼维持运营。

Qingmei stock price looks well supported at 5.5 cents

true. my friend in Fujian told me. its is desolated...