Sino Grandness

[alex]

This submission is critical for the management of the Company. It brings back confidence that management is delivering on what they have communicated. We will see SG moving up to its fair value soon, as usual, same with the last announcement, SG do not shoot up within a day. It takes a few weeks if you observe the trend for the past few months.

As with analyst, all of us here know they are bullshit and they change direction at the slightest... Anyway in my opinion, once the management of the company is please with their own performance, they will start to engage with these analyst and they will offer them more insights, and thats when coverage will start.

[Stirling]

I am just wonder and find it strange that there is no analyst coverage after so many big developments of Sinograndnes. First, the EGM; second, the restructure of CB; third, the trade fair in Chengdu. Are they still have doubt in the company. 

Analyst will cover it when their house or their clients have position in the company, especially so for foreign houses.

[leeeta]

I went through the old posts [report from Newman9] and found out that on Post 99 (21 Oct 14), moderator has mentioned that "I briefly run thru the report. It seems creditable with reliable references to Euromonitor and Nielsen" and Post 103 on the same day, he also stated that “KayHian's analyst report, after a trade show event, dated 14 Oct 2014. TP $0.95 and rating BUY. Will the analyst do quick update with totally different.”

http://www.valuebuddies.com/thread-3371-page-10.html

http://www.valuebuddies.com/thread-3371-page-11.html

I wonder is this the reason that UOB Kay Hian stop the covering of  Sinograndness after so many years of coverage.

Strange to me that some people can believe a report written by an anonymous writer. If it was some other organization like muddy waters, perhaps I can understand.
Now this short seller report and allegations of fraud made by skeptics here are blown to smithereens by the submission for listing in HKEX.

[piaopiao]

While looking for Garden Fresh draft prospectus on HKSE (link in Sino Grandness announcement yesterday), i saw Yihai International Holding Ltd documents submitted on 31 Mar 2016. This company produces condiments for hotpots/steamboats and one of the brands on their products is 海底捞火锅. 海底捞 shareholders are also major shareholders in Yihai.

海底捞 has 3 outlets in Singapore and they are very popular despite its high prices. Set up in China in 1994, they currently have 141 outlets in China.

                                                   revenue     net profit        gross margin %        net profit margin %
                                                   RMB mil    RMB mil

Garden Fresh FY2015             2300+           397                     44%                           17%

Yihai FY2015                            847                125                     35%                            15%

Seems like Garden Fresh is better.

[specuvestor]

I can see Yihai here: http://www.hkexnews.hk/APP/SEHKAPPMainIndex.htm

But I can't see Garden Fresh... can you provide the link? I'm keen to know who is the sponsor and auditor

[piaopiao]

I can see Yihai here: http://www.hkexnews.hk/APP/SEHKAPPMainIndex.htm

But I can't see Garden Fresh... can you provide the link? I'm keen to know who is the sponsor and auditor

Hi the Garden Fresh AP documents are now listed in the hkse webpage given by Specuvestor above.

[eyesonme]

I can see Yihai here: http://www.hkexnews.hk/APP/SEHKAPPMainIndex.htm

But I can't see Garden Fresh... can you provide the link? I'm keen to know who is the sponsor and auditor

http://www.hkexnews.hk/APP/SEHK/2016/201...010011.pdf

Sole Sponsor - DBS Asia Capital Limited
Auditors and Reporting Accountants - BDO Limited
Latest Practicable Date - [June 20], 2016
Listing Date - [July 6], 2016

[butcher]

Wow, its auditors are BDO. The Big 5 globally.

[specuvestor]

I'm not a fan of BDO but do look at the I-2 and 3 basis

Nonetheless I wasn't expecting them to submit before AGM so kudos that they managed to get it through before quarter end

[butcher]

No offence meant, Big four isn't that much better also. Recently, I have interactions with auditors from D (1 of Big 4). They asked for confirmation for millions of loan for one of the company with is wrong but should in fact be another company. I asked them and they insisted they were right, they seriously never read the loan agreement. What kind of audit quality??

Big 4 doesn't mean good quality nor mid tiers mean bad quality. Alot of high profile fraud happened at Big 4 also..