China Green 904

Re: China Green 904

Postby lithium » Sat Aug 28, 2010 11:12 am

1175 has been suspended a year ago le

what's the linkage you seeing here?
"Play Great Defence, not Great Offence "
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Re: China Green 904

Postby eauyong » Sat Aug 28, 2010 11:18 am

Let's see. Auditors play an important part if you know what I mean.
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Re: China Green 904

Postby winston » Mon Aug 30, 2010 8:26 am

Not vested. Results out. Shorts will be caught between a rock and a hard place :P

Do you know why you are Buying and Selling ??

Revenue up 23%
EPS up 25%


PROPOSED CHANGE OF AUDITOR

CCIF CPA Limited (“CCIF”) has merged their business with PCP CPA Limited resulting
in Crowe Horwath (HK) CPA Limited (“Crowe Horwath”) operating as the merged firm
from 13 October 2009. In this regard, the Company proposed that upon the expiration
of the term of appointment of CCIF as auditor of the Company at the conclusion of the
2010 AGM, to appoint Crowe Horwath as auditor of the Company.

CCIF has confirmed that there is no matters which need to be brought to the attention of the shareholders and the creditors of the Company in relation to their cessation as auditor of the Company.

Apart from the reason set out in the above paragraph, the Board also confirms that there are no matters in respect of the above change of auditor that should be brought to the attention of the Shareholders shareholders or creditors of the Company or its subsidiaries.

http://www.hkexnews.hk/listedco/listcon ... 830005.pdf


And why did they not announce this after lunch on Friday? Did somebody use the opportunity to scoop up bucket loads of shares before this announcement ?
It's all about "how much you made when you were right" & "how little you lost when you were wrong"
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Re: China Green 904

Postby eauyong » Mon Aug 30, 2010 9:50 am

What they did last Friday shocked and frightened the analyst/fund managers too much.

Analysts from BofA Merrill Lynch and Taifook revealed that the company slammed the door in their face. They did not have prior notice before the denied entrance at the venue for the investors conference. No one would get an answer for what have caused the delay.:shock:
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Re: China Green 904

Postby winston » Mon Aug 30, 2010 10:00 am

Up 25% in pre-market ..
It's all about "how much you made when you were right" & "how little you lost when you were wrong"
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Re: China Green 904

Postby stilicon » Thu Oct 07, 2010 3:23 pm

05/10/2010 10:56
[I-bank focus] China Green (0904) mulls hiring Big 4 auditor

Nomura cited China Green (00904) management indicating that the firm is considering hiring one of the Big 4 as its auditor in order to improve its corporate governance and restore investor confidence.
The management also added that fundamentals remain solid.

Nomura maintained its "buy" call and HK$10.8 target.

The research house said China Green's current low valuation is due to investor concern
about its financials, particularly after it delayed its results announcement in August.
But Nomura believes its financial numbers are reliable. It reckons the shift to a Big 4
auditor could become a potential significant catalyst to the shares of China Green (KL)
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Re: China Green 904

Postby winston » Thu Aug 04, 2011 8:12 am

Produce grower could prove to be infertile in long run
Thursday, August 04, 2011

We should always focus on interesting stocks.

Since March 2009, China Green has consistently underperformed the Hang Seng Index. The firm grows fresh produce and also sells beverage products and rice in the mainland. Its shares slumped 11.7 percent yesterday to HK$3.22. Early last year, the stock topped HK$10. In 2005, it stood at HK$1.50.

Last week, it said first-half profit had fallen 20.3 percent even as sales rose 17.6 percent while the debt-to-equity ratio fell to 39.9 percent from 70.4 percent last year. A 6.5 HK cents final dividend was proposed.

Citigroup put a HK$10.80 target in January and now has cut it to HK$7.50. Macquarie put a HK$10.30 target also in January and said if the company did not employ auditors from one of the Big Four international auditor firms by the end of April, the stock may face selling pressure.

It chose Deloitte Touche Tohmatsu CPA as internal control consultants in April. But this did not help. To avoid catching a falling knife, I suggest you adopt a wait-and-see attitude on the stock.


Source: Dr. Check, The Standard HK
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Re: China Green 904

Postby ibanker » Thu Feb 07, 2013 2:31 pm

News about the change of auditor seems to have faded away. Despite the overhang, I am planning to load up some shares. Current valuation is attractive. Any thoughts on this one :?:
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