They stated in their quarterly that cash flow from operations is 1.9 million vs 3.45 million a year ago. So now if you go to CNIT website and look for past news, you will find the 08/06/10 quarterly report where they state that cash flow from operations was 9.8 million for the quarter. So, what am I missing? Or is this some new form of Chinese accounting?
chinese accounting=fraud and losing money for the americans who invested-this is the second chinese comapany i have owned (since 09) and lost all-its sickening actually-because both companies were very strong and financially solid, making lots of money etc. forecasts were excellent-millions and millions in future contracts in place etc.-its meaningless- its a sin really-on a global scale- do american companies "go private"? i never heard of that until i purchased shares in chinese co's. listed here.
Go to their Internet site and look under news and events for 08/06/10. The statement for cash flows looks the exact same as this years quarterly statement on cash flows but the numbers aren't the same. Doesn't look like 2 quarters of cash flow or yuan vs dollars.