he ‘big four’ – and one other large U.S. accounting firm – embroiled in all this insist that they’re being held back from accessing some data by Chinese laws. The five involved are:
BDO China Dahua Co. Ltd
Deloitte Touche Tohmatsu Certified Public Accountants Ltd
Ernst & Young Hua Ming LLP
KPMG Huazhen (Special General Partnership)
PricewaterhouseCoopers Zhong Tian CPAs Limited
[Source: Paul Gillis @ China Acc
But once again CHINESE LAW prevents the above companies from taking any info out of the country and these people already know this law. Therefore I believe this is all a ploy to drive PPS lower and thats what should be investigated here as to who really is behind this move.
INFN, why do you play the games you play. Half the time I dont read your posts but obviously you are VERY intelligent.
"But once again CHINESE LAW prevents the above companies from taking any info out of the country and these people already know this law"
I agree with this 100%, that's what I was wondering. You allowed these things to happen yet NOW you are threatening to change the rules in the middle of the game. Maybe something more sinister is behind this. I do think a further drop in pps is warranted due to this, based on fear alone. The fear of delisting. We both know that's not going to happen but the market may not see it that way. Second chance on a buying opportunity is the way I see it.
And until this is resolved the problem will persist but the SEC is not going to de-list every Chinese company because if they made a move like this most other foreign listed companies would be forced to withdraw from US market too. And besides that Chinese government would retaliate with monetary directives of their own.