Estimated capitalization based on 2012 P/E would be 10* USD90M = USD 900M, which is ca 30 USD a share. Cash at the end of 2011, 3 times current market capitalization. Audited financial results, audited cash balance, SEC filing on going, short seller's fraud allegations withdrawn, China government recognition, new ongoing production investments, double digit sales growth year over year,solid cash generating business, etc etc. The upside is basically unlimited, the downside is minimal, for every USD I risk to loose I might as well earn 30 USD or more. Conclusion, the market is irrational and I am here strong and long to take advantage of this. Make your choice, place your bet.
<< few years ago i took fuqi fo a ride from 4 to 40 ,maybe 2nd time >>
On FUQI they haven't filed anything with the SEC for years and most likely is a scam. With Chinese stocks one has to do a ton of DD to sort out the good ones from the bad.
As for EDS I see these people crying scam yet they offer no proof?? Because every Chinese company has to be a scam? Is that the proof? Not only is this company is up to date and transparent on all SEC filings but they had their cash/financials verified by the outgoing auditor and the short seller (db research) who was continously accusing this company of being a fraud quietly withdrew all of their postings and accusations back in March. I have no idea why Crowe Horwath was fired as auditor but they did sign off!
So I ask the bashers once again..WHERE IS THE FRAUD HERE AT 33% CASH AND DOUBLE DIGIT GROWTH???