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Longwei Petroleum Investment Holding Limited Message Board

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  • rru2s rru2s Sep 15, 2011 3:31 PM Flag

    Shanxi Jiatong Chemicals owns Haujie Petroleum

    Cross-posted from MorePaveway's July post:

    "I'm still wondering if Cai tried to sell 2/3rds of LPH to SUNPEC under the name of "Taiyuan City Cheng Cheng Petroleum" last September. Didn't LPH say there were only three licensed intermediaries in Taiyuan? Funny no mention of Cheng Cheng (if they are one of two LPH competitors and not LPH itself) exists on the internet. The most secretive business on earth: oil distribution in Taiyuan."

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    • Very interesting post from Morepaveway above. Essentially, LPH supposedly doesn't have big competitors, yet someone tried to sell 2/3 of another local oil wholesaler in Taiyuan which happens to have distribution centers in Guajio and Taiyuan.

      At this point I'm really hoping to see more due diligence on the seller to prove that there are no third party relationships between the seller and LPH outside of the transaction itself.

    • Where is the reference to Gujiao? Not one mention in the attachment.

      You are playing both sides of a trade. In fact, on Ihub you only had pleasant comments about LPH. Here is the link:

      What would your defense be? Hypocrisy is the glue that keeps the world together?

      • 1 Reply to hshinti
      • I am nervous about holding long term here, that is all. If this acquisition (1) goes through and if (2) the $105M is purhasing a truly independent company then I'm comfortable being in LPH for months before the closing date. With the 10K I was pretty sure they would pass since they still have the same auditor. Since that catalyst is behind us, I am trying to decide if a hold over the medium term is risky or not because it is all based on the promised acquistion.

        I thought it would be fairly easy to Baidu search Haujie but I have run into a roadblock with my DD on Haujie and their parent company, looking to get someone else with more tools and skills at DD than I have to help out here and try to provide a comfort level for holding LPH for anywhere from one month to three months on the promise of the acquisition. You have to admit that 3 months is a long time to hold anything that is an RTO.

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