with chinese companies you often learn the hard way that all is not as it appears to be or as some auditor asserted it was remember: with longtop, the banks were in on the fraud they provided entirely false statements of longtop's cash balance
The real question among shareholders is: is this company another China scam? Unless this company can prove its business is real and its accouting is conservative, shareholders will keep leaving this company. Very sad! This company is either a hidden gem or another scam. Nothing between.
How does every company in the stock market prove their numbers are real?
They are audited annually by and independent auditor.
So, the question is...How can investors be convinced that BDO Limited, did a complete audit. Are we sure they have heard of all the tricks that Chinese companies (and American) have used to trick auditors? BDO Limited is one of the largest in the world. They should know it all. Could there have been other illegalities, payoffs, etc? That would be possible with any company. Time is all we have at this point. Eventually the legitiment companies will be revealed. I believe SPU has the cash. I believe they sell concentrate I believe they are now selling juices
I wish they had not issued the shares last year. But, they have stated plainly the use of that money for expansion. the share count is still low.
I will continue to hold. There has been no hints of any kind that this company is not real. No articles attacking them on websites or blogs No big short volumes.
They passed their audit and filed their 10K. The companies halted have not.
So, now it all falls on the auditor in my opinion. Did they do a thorough job. Make your decision and sell or buy this company.