The stock has gone down the last 3 or 4 conference calls that they have had by at least 10-25%. So, unless they have something positive to say that they can follow up with immediate ACTION, we may be heading to a 52 week low. Yes, for some newbies this may be a buying opportunity in the looooooooonnnnnngggg term, but for us veterans just the same continuous disappointment. GLTA,
Hopefully we will have some good news on Monday, because things are getting a little bit better lately for Chinese listed companies. Most probably however we will get more excuses for the delayed IPO'S which will not be very easy to accept with P/E's in the Chinese education sector of 20,22,30,37 and 50 for EDU.
By Chris Oliver, MarketWatch HONG KONG (MarketWatch) — Chinese and U.S. officials are due to hold meetings next week to discuss reforms that could see American regulators granted special powers to investigate companies within China for the first time, according to a report Wednesday.
Officials from the U.S. Securities and Exchange Commission and the Public Company Accounting Oversight Board will meet with those from the China Securities Regulatory Commission in Beijing on July 11-12, according to Bloomberg News, which cited two unidentified Chinese officials with direct knowledge of the plan
The U.S. officials will share information about audit inspection and cross-border oversight in the hope that it will help improve oversight in China, the report cited a spokeswoman for the Public Company Accounting Oversight Board as saying.
The move follows revelations of accounting irregularities and other concerns involving the truthfulness of statements of some Chinese companies listed on the main U.S. stock markets.
For example, the report cited China-Biotics Inc. /quotes/zigman/100412/quotes/nls/chbt CHBT +4.80% and Heli Electronics Corp. /quotes/zigman/4160965 HELI +33.33% as among the dozens of listed Chinese companies with overseas operations that have seen resignations of their auditors or accounting irregularities this year, prompting U.S. officials to suspend or delist their shares.
Meanwhile, Canadian regulators said Tuesday they planned a review into listed companies with business operations focused on emerging markets, according to the Financial Times.
The Ontario Securities Commission, which oversees the exchange operator TMX Group, will examine disclosures by some companies and their listing vehicles, the report said.
The review was sparked by questions over the concerns surrounding Toronto-listed Sino-Forest Corp. /quotes/zigman/12284 CA:TRE -10.21% /quotes/zigman/12278 SNOFF -9.17% after broker and research group and Muddy Waters LLC alleged the company had overstated its holdings and production, sparking a huge sell-off in its shares. See report on Sino-Forest affair.
/quotes/zigman/100412/quotes/nls/chbt Add CHBT to portfolio CHBT China-Biotics Inc. $ 1.31 +0.06 +4.80% Volume: 678,988July 6, 2011 3:59p /quotes/zigman/4160965 Add HELI to portfolio HELI Heli Electronics Corp. $ 0.20 +0.05 +33.33% Volume: 100.00July 5, 2011 2:20p /quotes/zigman/12284 Add TRE to portfolio CA:TRE Sino-Forest Corp. $ 4.75 -0.54 -10.21% Volume: 29.02mJuly 6, 2011 4:29p /quotes/zigman/12278 Add SNOFF to portfolio SNOFF Sino-Forest Corp. $ 5.05 -0.50 -9.17% Volume: 2.08MJuly 6, 2011 4:15p Chris Oliver is MarketWatch's Asia bureau chief, based in Hong Kong.