China Green 904

Re: China Green 904

Postby lithium » Fri Aug 27, 2010 2:07 pm

winston wrote:Short-Selling only at 2.2m shares ( out of 56.5m shares ). So it looks like the selling was probably by fund managers who panicked. I did see a guy throwing 500,000 shares at a go around 5.05 :?.

Or was it because it hit their Stops ?

And did your Stops manage to protect you on this one ?


Maybe the shortist are waiting for a bounce? Since it's already down 40% in 1 breath
"Play Great Defence, not Great Offence "
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Re: China Green 904

Postby winston » Fri Aug 27, 2010 2:10 pm

I think the shortist will wait for the announcement on Aug 30.

It's too dangerous to short at this price unless they know something that you dont :?
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 winston » Fri Aug 27, 2010 3:51 pm

What a ride !

Touched 6.20 ( ? ) from 4.84 and now dropped back to 5.27 for a 40% drop !

Not vested. ( not sure that my heart can take it :P )
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Re: China Green 904

Postby lithium » Fri Aug 27, 2010 3:53 pm

PE 9 only........ nowadays all PE 5 6 still dropping........
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Re: China Green 904

Postby winston » Fri Aug 27, 2010 4:29 pm

PE does not matter anymore ...

And why are the BBs panicking because there's a delay in the Auditor's report by a few days? It's not like that they have to wait a long time for the auditor report. Maybe the BBs does know something that you dont ...

Sell First, Investigate Later ? :lol: :? :roll:

And it was only a few days ago that the Equity Sales people at a brand name IB was recommending this counter :lol: :roll: :evil:

Not vested ..
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Re: China Green 904

Postby lithium » Fri Aug 27, 2010 4:55 pm

Haha, does what these IB's recommendation matter? :mrgreen:
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Re: China Green 904

Postby winston » Sat Aug 28, 2010 9:15 am

Just curious ... what would you do when something like this gaps down and your stops cant protect you ? Do u try to sell on the first rebound eventhough u are down 40% ? Or do u wait for the story to unfold and risk losing everything ?

Not vested

China Green Tumbles By Record in Hong Kong After Auditor Delays Earnings By John Duce

China Green Holdings Ltd. plunged a record 45 percent in Hong Kong trading after the producer of fruit and vegetables delayed reporting annual results because its auditor needed more time.

The stock ended 37 percent down at HK$5.54 after tumbling the most since listing in January 2004 to HK$4.84 in earlier trading. A board meeting scheduled for yesterday was postponed to Aug. 30 because the auditor needed “to gather further information,” the company said in a statement yesterday.

“The announcement that the auditors need more time has unnerved some investors and they’ve started dumping the stock,” said Lawrence Chor, an analyst at Taifook Securities Group Ltd. in Hong Kong. China Green’s management didn’t appear at an earnings briefing with analysts scheduled for yesterday, he said.

( Suka suka, I dont show up ! )

China Green’s headquarters are in Xiamen in eastern China and it employs 8,000 workers, about half of whom work on its farms, according to a statement on its website. The company said in a statement today it was unaware of any reason for the decline in price.

“The company emphasizes that its day-to-day operation is business as usual,” it said in a separate statement released to the press.

Gary Li, a public relations account director at Hill & Knowlton Asia Ltd. in Hong Kong employed by China Green, declined to comment on why the auditors need more time to complete the results for the year ended in April. Nobody at auditor CCIF CPA Ltd. in Hong Kong was immediately available for comment.

( What a disaster ! )

Companies reporting by the end of April have until the end of August to report earnings or face possible sanctions for breaching listing rules, said Scott Sapp, a spokesman for the Hong Kong stock exchange, without elaborating.

Of the 14 analysts surveyed by Bloomberg, 11 rated China Green shares a “Buy.” One rates the stock a “Sell.” The food company posted a profit of 454.9 million yuan in the year ended April last year.

http://www.bloomberg.com/news/2010-08-2 ... sults.html
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Re: China Green 904

Postby peter » Sat Aug 28, 2010 9:24 am

auditor cannot access to computer, computer breakdown, electricity cut offs, cannot access to bank accounts.....?
sounds too familar
another S chip in the making?
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Re: China Green 904

Postby lithium » Sat Aug 28, 2010 9:34 am

Maybe a sleeping major shareholder just realized the results are bad. So he ask to hold announcement to let him sell first. :lol:
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Re: China Green 904

Postby eauyong » Sat Aug 28, 2010 11:04 am

What a coincidence!
The Auditor of China Green, CCIF CPA Limited also audited another Fujian-based food sector, Fu Ji Catering (1175.HK) which got bankrupt and Suspended now.
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