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Zhongpin, Inc. Message Board

pinatubo2007 8 posts  |  Last Activity: Mar 17, 2014 4:10 PM Member since: Jun 1, 2011
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  • Reply to

    No dividend, no buyback

    by mcflyjmu Mar 17, 2014 12:24 PM
    pinatubo2007 pinatubo2007 Mar 17, 2014 4:10 PM Flag

    For your sake, I hope you're right. Tell me and I promise to listen, what distinguishes this company from the reverse merger frauds. I've lost $500,000 in this sector so I too have a reason to complain. But this could be a real company with real numbers. Given the profits, why wouldn't management start paying dividends to remove all doubt about their bottom line. It would immediately cause the stock to bolt upward. So the question is simply, are they terrible managers or grifting criminals. I don't know the answer. There were short sellers that made money badmouthing these Chinese stocks but unfortunately, they were often right. I know nothing of Mr. Wu but you don't try to take a company private that's worth 6 times what you're offering. It's beneath contempt but I've seen in my hold holdings. This happened with HOGS which was a real company and was never delisted. But the buyout offer was a lot higher what was offered for Yong. I made a little money on HOGS but got creamed on all the others.

  • pinatubo2007 pinatubo2007 Mar 17, 2014 4:02 PM Flag

    It's very disturbing that they offer no dividend and if they did, it would completely vindicate the numbers and drive the stock higher. Something is fishy. A lot of the insiders are holding chunks of stock so they've screwed themselves as well as American shareholders. No div given the p/e of 1.8....more than a little fishy. But the numbers could be real. As for KPMG....who knows who's actually doing the audit work but I agree, a lot of frauds were exposed 2 or 3 years ago. Yong is still listed.

  • pinatubo2007 pinatubo2007 Mar 17, 2014 3:41 PM Flag

    I don't have any position in this company and never have but did buy into companies that looked as cheap as this one. At the time they too posted good numbers and some were delisted for fraud. I owned HOGS for a few years which was not delisted only to see that company bought out for half of what it was worth. Your points are well taken except your point about people being on the posting list for years and I'm a newcomer. Why would that be relevant? You're just trying to be insulting.

  • Reply to

    No dividend, no buyback

    by mcflyjmu Mar 17, 2014 12:24 PM
    pinatubo2007 pinatubo2007 Mar 17, 2014 3:35 PM Flag

    You are completely misstating my point. Perhaps you feel some confidence in a management that is bold enough to "steal the company right in our faces. Half price ain't really stealing." I find that buyout effort beneath contempt and this has been going on for years in this sector of reverse mergers when the company is actually a going concern. And it is stealing. When these companies went public, investors brought their money and good faith only to see the Chinese #$%$ all over them. It's repugnant and counter-productive to a country that needs a lot of Western help. Failing to honor commitments, stealing everything that's not bolted down, defaulting on contracts and promises is not exactly a formula for success in economic life. A lot of money has been lost in Chinese stock markets. The Shanghai market is down 66% from it's high while the US exchanges have done well and are near all time highs.

  • Reply to

    No dividend, no buyback

    by mcflyjmu Mar 17, 2014 12:24 PM
    pinatubo2007 pinatubo2007 Mar 17, 2014 2:29 PM Flag

    You make extremely good points. The market doesn't believe in the management or numbers for this company. On paper it looks cheap but it's probably a bucket of #$%$. Who knows? I'm not buying after getting sucked into other stocks that looked as cheap as this one only to see them blow up.

  • But what is even more disturbing is managements effort to take the company private with a ridiculously low offer. This is typical of the kind of management theft that goes on in China. And America cannot really enforce the rules and take Chinese companies to court because we have no treaties to do this with China. I cannot think of anything more destructive to Chinese credibility in the world than their failure to prosecute so many companies and executives that were liars, grifters and frauds. I'd like some comments.

  • Reply to

    Q4 Earnings Call

    by mekong22 Mar 17, 2014 10:06 AM
    pinatubo2007 pinatubo2007 Mar 17, 2014 2:14 PM Flag

    I have no positions at all in this company and will not buy another Chinese company. There are many like me now. I am not shorting them or going long. I learned my lesson. But the Chinese have not and are reguarded by investors as grifters, cheats and frauds. I'm sure there are real companies in China that report their numbers accurately but they have suffered as well. But this company has been severely punished with a p/e of 1.6.

  • Reply to

    Q4 Earnings Call

    by mekong22 Mar 17, 2014 10:06 AM
    pinatubo2007 pinatubo2007 Mar 17, 2014 2:02 PM Flag

    I have owned 6 Chinese companies listed in America. It's been a disaster. I do not own this one. Who audits there books and are the numbers real. How can you know. Obviously there's a lot of doubt in the market as the stock is trading at a p/e of 1.6. These days few trust companies from China. Many have been delisted and exposed as frauds. The Chinese inexplicably do not prosecute the cheats and thieves that run shell companies. It's had a terrible effect on Chinese stock markets who want Western investment. Look at the Shanghai market. While Western markets are up, the Shanghai is near the 2008 lows. Pathetic. So are the numbers real for Yong or are they just more lies and too good to be true stories.

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