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Real Nutriceutical Group (2010)
25-04-2018, 07:04 PM. (This post was last modified: 25-04-2018, 07:05 PM by karlmarx.)
Post: #21
RE: Real Nutriceutical Group (2010)
Another good example of why it is important to do DD, especially on things that look so good...

Credit goes to dzwm.

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04-07-2018, 04:06 PM.
Post: #22
RE: Real Nutriceutical Group (2010)
Hong Kong’s SFC orders bleeding Chinese health drinks maker Real to suspend trading
The company, once accused of cooking its books, has posted a 2017 net loss of US$13m

Enoch Yiu
PUBLISHED : Wednesday, 04 July, 2018, 12:12pm
UPDATED : Wednesday, 04 July, 2018, 1:16pm

The Securities and Futures Commission has ordered health drinks maker Real Nutriceutical Group to suspend its stocks from trading in Hong Kong on Wednesday morning, according to a company filing to the city’s stock exchange.

Real announced in March that it suffered a net loss of 86.7 million yuan (US$13.1 million) in 2017 on decreased sales of its drinks products in China. Its shares closed at 20 HK cents on Tuesday.

US-based short seller Glaucus Research had previously accused the company of cooking its books in 2015, reporting conflicting revenue numbers in its filings to China’s Ministry of Commerce (Mofcom) and those to the Hong Kong stock exchange. A combined revenue of 839 million yuan for two subsidiaries generating 90 per cent of its total revenue between 2011 and 2013 reported to Mofcom was 84 per cent less than what was filed to the Hong Kong bourse, Glaucus alleged.

As a result, Real’s shares were suspended from trading for two months and only resumed after issuing a rebuttal that called the short seller’s claims “erroneous and misleading”.

More details in http://www.scmp.com/business/companies/a...er-suspend
Specuvestor: Asset - Business - Structure.

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