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Zhongpin, Inc. Message Board

  • ymzhaous ymzhaous Apr 13, 2011 9:53 AM Flag

    I don't get it!

    In two days, this pig lost 10+% and nobody on this board talked about this lost. No news, no concern, nothing. Are you guy in this stock or just like to play around here with this pig?

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    • Thanks, Lawman. It is 10 billions, though. A few more zero make all the differences.. haha. Take care.

    • Yup, I thought something like that will happen. The company has favorable status with the Chinese government which will make sure that it will be successful. Look at BIDU, FMCN... which has favorable status with the government. After all, the success of this company benefit China too. This company raise and sale high quality pork that is safe and healthy to eat, and China has more than 1 billion people that like to eat pork and prefer to eat safe and healthy pork. The traditional Chinese market does not provide clean and sanitize meat and there is a need in the population for these. If anyone has been to China and visit a traditional market would understand what I am talking about. One billion people need good pork and you have a company that is supplying it, investing is all about common sense to me.
      Also, Chip, I did look up and they are exporting their products to Japan too. I would imagine there is a lot of demand for it now there too after what just happened.

    • you are so funny. all accounting firms have "independent subsidiaries" in various countries, just go to any of the big4's website and look around. i'll make it easy for you:
      http://www.deloitte.com/
      sure they can use other firms, but it doesn't tell you the quality of the audit. who audited Enrons?
      if your thesis is anything china is not trust worthy, i can understand that. i was of the same opinion 15 years ago, the world has changed.
      if a company wants to scam, it can always find a way to do it, never mind what accounting firm it uses.

    • $1.5 billion dolllars is not peanuts

    • Along with what you point out, this morning, they have been extended a loan agreement with Chinese Construction Bank for monies totaling 10 million RMB's. Doubt they would get that loan if the company was a sham!! Long and strong!!

    • Isn't the Chinese Vice prime minister and the Chinese ministry of Agriculture have just visited Zhongpin facilities about 3 weeks ago? If there is anything about Chinese culture, those in high positions go to great length to keep their names clean so I don't think they would have visited the facilities if the company is not doing well or if they are involved in some kind of fraud. This company has a top ten accounting firm doing its book and the Chinese government's seal of approval, sound pretty solid for me.
      As for the accounting frauds of other Chinese RTO companies. Well, we have our Enron, World Com... that doesn't mean other US companies are bad, is it?

    • Nobody here has prove that the SAIC and SEC filings match.

      They're all basing their investments off PRs, blow-me-away financials and the fact credit swisse missed the memo on RTOs before they signed off on the second offering.

    • If the SEC and SAIC filings have some discrepancies that is one red flag, worth digging deeper into. Although those forms don't line up perfectly, there should be consistency in much of the info on those forms. Many of the RTO scams were reporting greater revenues to the SEC and lesser amounts to the Chinese government for taxation.

      Anyone analyze the filings? Links?

      Thanks

    • BTW, CCME had Deloitte as an auditor...rank 4. So your point is moot.

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