X****A
发帖数: 1203 | | B****F
发帖数: 638 | 2 watch out Muddy water
Duoyuan Global Water, a China-based domestic water treatment equipment
supplier, has actual revenue no greater than $800,000 annually, according to
the latest report by Muddy Waters Research. Last year, Duoyuan Global Water
reported annual revenue of $154.4 million, according to filings with the
Securities and Exchange Commission.
Muddy Waters makes other strong claims against the Chinese company,
including allegations that Duoyuan Global Water forged its audit report to
Chinese officials, that there were four errors on the company's U.S. audit
report, and that the company engages in "improper," undisclosed related-
party transactions that transfer money to its chairman.
"DGW is a massive fraud, overstating revenue by over one hundred times,"
Muddy Waters wrote in its research report. "Our extensive surveillance of
DGW's factory confirms our revenue estimates. DGW shows little evidence of
using investor funds for capital expenditures. Its claimed distribution
network is a sham."
Ashley Ammon, Duoyuan Global Water's investment relations contact in the U.S
., said the company has no comment at this time.
Shares of Duoyuan Global Water were lately dropping $1.21, or 22%, to $4.28.
The stock is down 64% this year alone. On Monday, trading volume topped 4.1
million shares, compared with the average daily trading volume of only 464,
000 shares.
Duoyuan Global Water joins a growing list of Chinese small-cap companies
with significant share price losses this year. TheStreet generated a list of
some of the biggest decliners in chronological order, with some Chinese
stocks falling as much as 75%.
Muddy Waters also makes ties between Duoyuan Global Water and sister company
Duoyuan Printing(DYP_). Both companies share the same chairman, Wenhua Guo.
On Monday, Duoyuan Printing was banished from the New York Stock Exchange
for failing to file a financial statement with the SEC since May 2010. On
March 18, Duoyuan Printing disclosed that the SEC has been investigating the
company for fraud since October. | X****A
发帖数: 1203 | | B****F
发帖数: 638 | 4 GOD really needs to bless u! a men | X****A
发帖数: 1203 | 5 3KS
【在 B****F 的大作中提到】
: GOD really needs to bless u! a men
| B****F
发帖数: 638 | 6 the best time to exit maybe is tomorrow | h****t
发帖数: 632 | | X****A
发帖数: 1203 | 8 GOT SHOT
【在 X****A 的大作中提到】
: 1**[email protected]
| h****t
发帖数: 632 | 9 don't worry. It will bounce back tomorrow or this week. The youtube video of
phone calling to DGW is a set up. | B****F
发帖数: 638 | 10 DYP is also called set up. GOD really needs to bless you guys. | X****A
发帖数: 1203 | 11 WO RI, NOW 3.48
【在 X****A 的大作中提到】
: 1**[email protected]
| B****F
发帖数: 638 | 12 I have give you guys warns. GOD bless you guys. |
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