I happen to be visiting relatives in a small city called Hebi in Henan (province where HOGS is headquartered) right now (I work in finance in Hong Kong normally), and I own HOGS, so here's my quick 2 cents. Not that this is a scientific observation, but every supermarket I have been in the past week (about 5) has had big Zhongpin displays for its products. Keep in mind that this city is several levels below a city like Zhengzhou, which is the provincial capital, which in China is something like a tier 3 or 4 city. I've also been to many other cities in Henan (this is my home province), and I've had similar experiences. Again, not scientific but it is what it is.
I won't presume to know the fate of this company, but regarding the posters who are quick to compare this company to other firms that have run into trouble such as CHBT, one difference I notice here is the wider analyst coverage including more reputable names such as Macquarie and Cowen. It'll be interesting to see if/how they respond.
I think there are a lot of day-trader shorts involved. They place their bets in the morning and close out by the end of day. Remember how the stock went up almost 12% on close on Friday at 500,000 volume.
Um yeah, sure, I don't think anyone's going to disagree with what you said...it's perfectly factual/neutral. I'm not going to get into the merits of investing in Chinese small-caps right now b/ we all know that's fairly pointless in this environment. My MBA and work exp isn't gonna help me much in filtering out all the frauds from the squeaky clean firms (which possibly don't exist in China right now, at least in the western sense). I just shared the above b/ I happen to be in a unique position. To each their own...