China Gaoxian

Hi . China Gaoxian in deed get many people in Hot soup now if it continue to Halt till coming Monday. A group of us were looking at this counter on Monday morning n follow what CIMB trader Buy call on last Thursday to buy . And now it Halt due to some special people who might have some Insider News on this counter and sell it down to 0.19 from 0.26..
How can SGX or this company directors allows this kind of thing's to happen to us small retail investors..especially it happen after CIMB buy call.. Are we being caught to buy this counter when some peoples are trying to sell it down? Cannot trust all the banks anaylist buy call... is a damn heavy lesson to learn..
Any one know what when wrong with Gao Xian ? Halt till when ?

Observed China Gaoxian big sell down on Monday and other huge trading volume like Li Heng. Was very fortunate for me to escape China Gaoxian at $0.31 when it flopped in KDRs.
On a serious standpoint, would all these CFOs and CEOs "be convicted" if their companies "suddenly and abruptly" turn sour since they are confident in standing up to back the soundness of their entities?!
Would rather wait for the dust to settle before jumping in to these low prices counters.

Like u say , will the CEO or CFO being convicted for providing false annual report to all shareholders of their company.. I sincerely Hope they will . Gao Xian post similar profit report on early Mar for Yr 10. And it showed the company stand in Good position with Buy call from CIMB & UOB recently. We understand that this counter being push up to 0.47 B4 KDR listing at 0.405cts..What I don't understand is what are those Investor in Korea think of this company ? It never Breath above water ever since it debut on 25 Jan. It's being submarine till now in Korea n here.. Might be those investor over there enjoy special price like 0.15cts per shares in UTT.. that's why they r not panic..Even they consider this as "Long term" investment, how long will they want to wait just for the price to reach 0.40 + again.. I think this counter will not reach this level any more.... What do u think my fren ? I am thinking to by pass all S chips now.. China company cannot trust..They just take us for a ride ... What can our Stock exchange do to protect us? I don't think they can.. They are running a business as well. Answering to their shareholders.. So to be wise again , for go all S chip even it show Good result. We are not sure what's happening behind us between their CEO, CFO n those top people in our security industries here during their kopi session..

Oh no! Shares suspended due to audit issues with it's subsidiaries !!! How come they can successfully dual list? U mean the listing requirements doesn't include getting the books audited? No longer vested when it flop the kdr, was lucky, but think most s-chip will be in for another round of sell - down sigh... just when confidence is recovering, then came hongxing and china sports, just when market is show signs of improving that came this Gaoxian. Even Hongwei tech needs special auditors. It never rains but pours for s- chips!!!

Confident in s-chip will be hit hard, never trust their balance sheet, this is what value invester look at. Sometimes auditor are alert, but at the end it is the management that submit them their figure , and if they want to cheat, there is nothing we can do.
I thk, those who got suck are mostly value invester mostly, who are fascinated by their balance sheet. Since long ago, i only trade, but never stay for long.
I never like s-chip nor China's product . Most of them are of low quality. Look even their food got problem now and then. Did u notice vegetable from China at NTUC are greener than usual,vegetable like kai-lan. I only buy veg. which are from Indonesia and Malaysia. Better be safe, look suspicious to me,
This is unlike stock, once is enough, before u know, u are there with the Japanese Tsunami victim telling them your reason u are with them. I always avoid product or food that are from China, since they are such bad image and publicity now and then report abt their food and product.
Today, there was this black pill reported in CNA, got steriod in it can cause problem later.
Not only stock, food and milk also not spare of problem.
This is not a call to avoid China thing for you. Just my opinion.

At this point we have no idea if the accounting issue is really a big mountain being created out of a molehill. Reading the China Hongxing story, I get a feeling that the auditor E&Y is making 110% sure everything is in order and this takes time. I find it hard to believe that Goaxian was playing punk with its accounts and expected to get thru the KDR due diligence. The whole thing doesnt gel . Of course I may be wrong .....