Questions were direct, answers as to cost per trade, will you return to profitability now due to this, are you the only platform...? etc...were not answered well at all. Folks, this is the same joke of a company as it has always been. They could have done far better by not holding the conf call. That would have allowed the price run up to continue but now...not so sure it will continue, just horrible conf call IMO
It's not an easy, clear-cut question to answer on a conference call if there is tier pricing (vol discounts, rebates etc), not much unlike ETRADE back then. If you are questioning if this is a real company, haha, you're in a rude awakening. Most people I know in China use their website. It's their Yahoo Finance except better. Add CITIC and the fact that right now because of the recent strength in the Chinese stock market Chinese retail investors are opening new stock accounts in record numbers.
I'll bet that none of you complainers have ever listtened to their conference calls before! I have and they are always obscure. Chinese culture, I suppose. Has nothing to do with the real advances in their business model.
They need someone who can actually speak English instead of trying to speak English on the conference call. But no matter, I suspect a lot of the heavy buying yesterday was done by people who can also understand Chinese. And for people who can understand Chinese, they know what a tidal wave this news signifies. I see this company as the only pure play on the NASDAQ on Premier Li Keqiang's new financial reform policies.
It was bad English, NOT bad conference call, if you understood what they were actually saying. This is something big and substantial and they've been preparing of this for years. Now finally they've got the go-ahead because of the new government policies of financial reform. And their partner is the 900-pound gorilla CITIC. This is a tidal wave. Bet against it and you'll risk asking desperate questions like the shorts did this time on the next conference call.
Good grief, this has "ChiScam" written all over it. They said they can't tell the public how much they charge for trading, only clients themselves. Then how in the heck do you find out what they charge ? Here, I'll sign up for your trading platform and I won't ask what you guys charge. Just charge me. ROTFLOL.