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Audit Issue - Suspensed
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cheongsl
Master |
16-Apr-2011 07:20
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CLARIFICATION ON LIAN HE ZAO BAO PRESS ARTICLE Reference is made to the article published on the 15 April 2011 in the Lian He Zao Bao reporting that Hongwei Technologies Limited had made losses and that its current liabilities exceed its current assets for the financial year ended 31 December 2010. As a result, its auditors Ernst & Young LLP had cast doubt whether the company would be able to continue as a going concern. The Board wishes to clarify that the comments is factually incorrect as the Group has just announced its unaudited results for year 2010 on 13 April, 2011 which shows a Net Profit attributable to shareholders of RMB70,243,000 and a Net Current Assets of RMB310,130,000 and Net Assets of RMB470,919,000. Ernst & Young LLP has raised auditing issues relating to the cash and bank balances confirmation in the Company’s subsidiary company in China, namely Shuangli (Xiamen) Polyester Ltd but the auditors had yet to issue the audit report. BY ORDER OF THE BOARD Lam Tin Faat, Tony |
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cheongsl
Master |
14-Apr-2011 00:09
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HongWei Financial result is out, performance is better than last year with 30.62RMB per share compare to pervious year 26.94RMB per share. There is no request of lifting of suspension, seems like the issue is not yet resolve, as under the divident session mention due to current problem no divident is declare. The problem is still unidentified. |
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warrenbegger
Elite |
03-Mar-2011 18:06
Yells: "Anyhow Buy Anyhow Die ^_^" |
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Pls dont invest too much on S-chick and is better not to vest at all in them. Due to lost of trust and most important, lost of value in S-chip. For those poor/unlucky investor that kanna burn in those suspended S-shit counter, i feel heart pain for them and i can feel how pain it is to lost so much or even all in S-shit. As to show my support for those who kanna burn and to avoid another S-shit scandal again. I hereby annouce that i wont invest or promote any S-shit again, i wish those who kanna burn clear your tears/heartpain and stand up again. So many local good counter to invest, we can all skip S-Shit and condemn them for doing rubbish. It better to invest in local stock as we can see our investment here in singapore and anything happen we also had first hand information. If u want to invest china stock, i think u better camp beside that company and follow the CEO everday in order to be safe. I wish all good luck and take care, i going heaven to find my love now. cya... | ||
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Andrew
Master |
27-Feb-2011 14:24
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CE always look suspicious.....heeeeee
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ruanlai
Master |
27-Feb-2011 12:28
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Recently China Energy looks suspicious...... Price drop slowly everyday......... Hope is not the next one got financial problem or suspension........ Avoid........before is too late...... | ||
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louis001
Master |
27-Feb-2011 09:43
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Hongwei announced at SGX website that their auditors reported accounting irregularities occurred at one subsidiary at Shuangli( For shareholders, be prepare for the worst and hope for minimum damage that the scale and depth of such irregularities will not be huge . Hongwei had proceeded to secure company assets and ensure continue business operations. Of course, if one believes that’s to be done. What else can one say. At least, the company take action and make it public.
One only hopes that it is NOT like other S-chip case where it cannot repay huge loan and go bankrupt cannot pay vendors/suppliers or board directors swindle money away, CEO/Directors go missing, executive corruption etc… The only thing shareholders can do now : wait for the report outcome and pray hard. With best wishes, good luck to all. |
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warrenbegger
Elite |
27-Feb-2011 01:46
Yells: "Anyhow Buy Anyhow Die ^_^" |
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Both Hongxing and Hongwei both got (H). Both also incorporated in BERMUDA. And i also find that many S-Chip that got suspended mosty incorporated in Bermuda or others. S-Chip stand for Shit cheat, Sai cheat, sucker cheat, sorry cheat, sotong cheat or sink chip? But not really all S-chip is 100% bad, just that S-chip do rubbish things % is higher than others. And i also said before, S-chip risk is higher so if u want, the most u only bet 10 to 20/30% depend how much u willing to risk for greed gain. If u very greedy and Mau heavily on S-chip, that just too bad. BTW, i still hold 1 S-chip in my portfoilo and that is Taisan(5+% for fun wont kill me if anything wrong) cause i still trust Taisan(i cant find his problem yet). I also wish both (H) can unsuspened so u all can take back your $. Amem | ||
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Hulumas
Supreme |
26-Feb-2011 23:10
Yells: "INVEST but not TRADE please!" |
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Are you serious?
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ongph88
Member |
26-Feb-2011 21:58
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Die ! avoid chinese ctrs pls. Dump all china ctrs next Monday !!! Lousy. blame for being greedy ! | ||
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ruanlai
Master |
26-Feb-2011 21:20
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Another suspension....... All the " Hong ........ " are no luck counter......Avoid |
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