The Current State of the Market for US-listed China Stocks
posted by The Traveller on Sunday, September 30, 2012
Soon we have the opportunity to observe the second anniversary of the first Chinese delisting from Nasdaq. RINO International (RINO) was delisted just three weeks after short-seller Muddy Waters Research published a damaging report on the company and RINO had to concede that some of its claims about contracts were made-up. This was the beginning of two terrible years for U.S.-listed companies that are based in China. Many more frauds and severe accounting irregularities were uncovered, followed by dozens of delistings from NYSE and Nasdaq and a general hostility towards Chinese companies that led to a massive sell-off of Chinese stocks by foreign investors.
Small cap stocks were most affected while Chinese blue chips, mostly ADRs, survived the turmoil relatively unharmed. Of the ~280 U.S.-listed small- and micro-cap China stocks we are tracking at Trading China, only 9 stocks saw price gains between December 31, 2010 and September 30, 2012. The vast majority has lost more than half its value, and more than one third (94 stocks) dropped more than 90% during that time. And all of this happened while the general U.S. markets saw massive gains.
While Chinese blue chips have seen the occasional hiccup, their performance since 2010 clearly shows that foreign investors have not abandoned them and that the sell-off has been mostly confined to the small cap space. An index of 20 U.S.-listed China-based blue chips has gained 5.5% since January 1, 2010, clearly underperforming the general U.S. markets (S&P 500 +29.19%, NASDAQ Composite 37.33%), but even more clearly outperforming the Chinese domestic market, as the leading Chinese index, the Shanghai Composite, lost 36.35% since the beginning of 2010.
In a series of articles we will recap the past two years for Chinese small cap stocks and look at the current state of those companies in the market.
1. The FatalitiesThe Fatalities
2. Delistings
3. Going Dark
4. Going Private
5. Reverse Mergers
All of the following companies lost their senior exchange listing and most are now quoted on the pink sheets. All of them have been delisted for good reason, many are blatant frauds, others had auditors and senior management resign or they stopped filing reports with the SEC. Those are all failed companies, whether or not there is fraud involved... it doesn't matter anymore. Investing in, or even trading those stocks comes with extreme risk, especially as the SEC has already revoked the registration for several stocks, and others will probably disappear as well.
ABAT -- Advanced Battery Technology
(Performance Dec 31, 2010 to Sep 30, 2012: -91.30%)
2012-02-06 -- Last SEC Filing
2011-11-30 -- Delisting from NASDAQ
2011-11-15 -- Trading halted by NASDAQ
2011-10-25 -- CFO Resignation
2011-08-15 -- Last Quarterly/Annual Report: Q2/FY2011 ended June 30, 2011
AOBI -- American Oriental Bioengineering
(Performance Dec 31, 2010 to Sep 30, 2012: -73.34%)
2012-06-15 -- Last SEC Filing
2012-06-15 -- Auditor Change
2012-05-29 -- Delisting from NYSE Amex
2012-03-16 -- Trading halted by NYSE Amex
2011-11-14 -- Last Quarterly/Annual Report: Q3/FY2011 ended September 30, 2011
APWR -- A-Power Energy
(Performance Dec 31, 2010 to Sep 30, 2012: -97.26%)
2011-11-08 -- Last SEC Filing
2011-10-04 -- Auditor Change
2011-09-26 -- Delisting from NASDAQ
2011-09-15 -- Auditor Engagement
2011-08-17 -- Receives SEC Subpoena
2011-07-05 -- CFO Change
2011-06-27 -- Trading halted by NASDAQ
2011-06-26 -- Auditor Resignation
2010-12-01 -- Last Quarterly/Annual Report: Q3/FY2010 ended September 30, 2010
CAGC -- China Agritech
(Performance Dec 31, 2010 to Sep 30, 2012: -97.64%)
2012-06-27 -- Last SEC Filing
2012-01-16 -- CFO Resignation
2011-05-20 -- Delisting from NASDAQ
2011-04-06 -- Auditor Engagement
2011-03-14 -- Trading halted by NASDAQ
2011-03-14 -- Auditor Resignation
2010-11-13 -- Auditor Change
2010-11-10 -- Last Quarterly/Annual Report: Q3/FY2010 ended September 30, 2010
CBEH -- China Integrated Energy
(Performance Dec 31, 2010 to Sep 30, 2012: -94.00%)
2012-09-24 -- Last SEC Filing
2012-09-18 -- CFO Change
2011-07-21 -- Auditor Engagement
2011-06-15 -- Delisting from NASDAQ
2011-05-19 -- CFO Appointment
2011-04-28 -- CFO Resignation
2011-04-26 -- Auditor Resignation
2011-04-20 -- Trading halted by NASDAQ
2011-03-16 -- Last Quarterly/Annual Report: FY2010 ended December 31, 2010
CCDM -- China Century Dragon Media
(Performance Dec 31, 2010 to Sep 30, 2012: -100.00%)
2011-10-17 -- Delisting from NYSE Amex
2011-09-01 -- Last SEC Filing
2011-03-22 -- Auditor Resignation
2011-03-21 -- Trading halted by NYSE Amex
2010-11-22 -- Last Quarterly/Annual Report: Q3/FY2010 ended September 30, 2010
CCME -- China MediaExpress
(Performance Dec 31, 2010 to Sep 30, 2012: -100.00%)
2012-08-28 -- SEC Registration REVOKED
2011-05-19 -- Last SEC Filing
2011-05-19 -- Delisting from NASDAQ
2011-03-13 -- CFO Resignation
2011-03-11 -- Trading halted by NASDAQ
2011-03-11 -- Auditor Resignation
2010-11-09 -- Last Quarterly/Annual Report: Q3/FY2010 ended September 30, 2010
CELM -- China Electric Motors
(Performance Dec 31, 2010 to Sep 30, 2012: -99.34%)
2011-09-20 -- Last SEC Filing
2011-09-16 -- CEO Appointment
2011-09-15 -- CEO Resignation
2011-06-14 -- Delisting from NYSE Amex
2011-05-31 -- Auditor Resignation
2011-05-31 -- CFO Resignation
2011-03-31 -- Trading halted by NYSE Amex
2010-11-12 -- Last Quarterly/Annual Report: Q3/FY2010 ended September 30, 2010
CIIC -- China Infrastructure Investment
(Performance Dec 31, 2010 to Sep 30, 2012: -88.41%)
2011-12-16 -- Last SEC Filing
2011-11-18 -- Delisting from NASDAQ
2011-11-14 -- Last Quarterly/Annual Report: Q3/FY2011 ended September 30, 2011
2011-09-21 -- CFO Resignation
CILE -- China Intelligent Lighting
(Performance Dec 31, 2010 to Sep 30, 2012: -99.97%)
2011-12-28 -- Last SEC Filing
2011-12-21 -- CFO Resignation
2011-06-14 -- Delisting from NYSE Amex
2011-04-01 -- Auditor Engagement
2011-03-24 -- Trading halted by NYSE Amex
2011-03-23 -- Auditor Resignation
2010-11-08 -- Last Quarterly/Annual Report: Q3/FY2010 ended September 30, 2010
CNEP -- China North East Petroleum
(Performance Dec 31, 2010 to Sep 30, 2012: -96.19%)
2012-09-24 -- Last SEC Filing
2012-06-21 -- Delisting from NYSE Amex
2012-03-01 -- Trading halted by NYSE Amex
2011-11-09 -- Last Quarterly/Annual Report: Q3/FY2011 ended September 30, 2011
CNGL -- China Nutrifruit
(Performance Dec 31, 2010 to Sep 30, 2012: -98.93%)
2012-05-10 -- Last SEC Filing
2012-06-15 -- Delisting from NYSE Amex
2012-04-26 -- Trading halted by NYSE Amex
2012-02-14 -- Last Quarterly/Annual Report: Q3/FY2012 ended December 31, 2011
CRTP -- China Ritar Power
(Performance Dec 31, 2010 to Sep 30, 2012: -71.16%)
2012-02-15 -- Last SEC Filing
2011-06-24 -- Delisting from NASDAQ
2011-04-18 -- Trading halted by NASDAQ
2010-11-15 -- Last Quarterly/Annual Report: Q3/FY2010 ended September 30, 2010
CSKI -- China Sky One Medical
(Performance Dec 31, 2010 to Sep 30, 2012: -95.27%)
2012-04-03 -- Last SEC Filing
2012-03-12 -- Auditor Resignation
2012-03-08 -- Delisting from NASDAQ
2012-02-16 -- Trading halted by NASDAQ
2011-12-16 -- CFO Resignation
2011-11-09 -- Last Quarterly/Annual Report: Q3/FY2011 ended September 30, 2011
CTESY -- SinoTech Energy
(Performance Dec 31, 2010 to Sep 30, 2012: -100.00%)
2012-05-30 -- SEC Registration REVOKED
2012-05-14 -- Last SEC Filing
2011-10-19 -- Delisting from NASDAQ
2011-08-16 -- Trading halted by NASDAQ
2011-08-05 -- Last Quarterly/Annual Report: Q3/FY2011 ended June 30, 2011
CVVT -- China Valves Technology
(Performance Dec 31, 2010 to Sep 30, 2012: -95.42%)
2012-09-21 -- Delisting from NASDAQ
2012-09-11 -- Last SEC Filing
2012-07-16 -- Trading halted by NASDAQ
2012-07-09 -- Auditor Resignation
2012-05-08 -- Last Quarterly/Annual Report: Q2/FY2012 ended March 31, 2012
DEER -- Deer Consumer Products
(Performance Dec 31, 2010 to Sep 30, 2012: -79.44% | currently halted)
2012-08-13 -- Trading halted by NASDAQ
2012-08-09 -- Last SEC Filing
2011-08-09 -- Last Quarterly/Annual Report: Q3/FY2012 ended June 30, 2012
DGWIY -- Duoyuan Global Water
(Performance Dec 31, 2010 to Sep 30, 2012: -97.66%)
2012-05-11 -- Last SEC Filing
2012-01-26 -- Delisting from NYSE
2011-04-06 -- Trading halted by NYSE
2011-04-04 -- CFO Resignation
2011-03-22 -- Last Quarterly/Annual Report: FY2010 ended December 31, 2010
DYNP -- Duoyuan Printing
(Performance Dec 31, 2010 to Sep 30, 2012: -96.59%)
2012-04-16 -- Last SEC Filing
2011-04-13 -- Delisting from NYSE
2010-09-08 -- CEO/CFO Appointment
2010-09-08 -- CEO Resignation
2010-09-06 -- CFO Resignation
2010-09-06 -- Auditor Dismissal
2010-05-11 -- Last Quarterly/Annual Report: Q2/FY2010 ended March 31, 2010
FEED -- Agfeed Industries
(Performance Dec 31, 2010 to Sep 30, 2012: -86.06%)
2012-09-24 -- Last SEC Filing
2012-07-27 -- CFO Resignation
2012-04-18 -- CEO Appointment
2012-02-10 -- Delisting from NASDAQ
2011-12-19 -- Trading halted by NASDAQ
2011-12-16 -- CEO Resignation
2011-08-09 -- Last Quarterly/Annual Report: Q2/FY2011 ended June 30, 2011
FUQI -- Fuqi International
(Performance Dec 31, 2010 to Sep 30, 2012: -86.68%)
2012-07-26 -- Last SEC Filing
2011-07-30 -- CFO Resignation
2011-03-29 -- Delisting from NASDAQ
2009-11-09 -- Last Quarterly/Annual Report: Q3/FY2009 ended September 30, 2009
HEAT -- SmartHeat
(Performance Dec 31, 2010 to Sep 30, 2012: -23.49% | currently halted)
2012-08-28 -- Last SEC Filing
2012-08-20 -- Last Quarterly/Annual Report: Q2/FY2012 ended June 30, 2012
2012-07-10 -- CFO Appointment
2012-05-30 -- Trading halted by NASDAQ
2012-05-25 -- CEO Resignation
2012-05-25 -- CFO Resignation
HQSM -- HQ Sustainable Maritime
(Performance Dec 31, 2010 to Sep 30, 2012: -100.00%)
2012-04-10 -- SEC Registration REVOKED
2011-08-10 -- Last SEC Filing
2011-07-12 -- Delisting from NYSE Amex
2011-05-26 -- Auditor Resignation
2011-04-01 -- Trading halted by NYSE Amex
2010-11-09 -- Last Quarterly/Annual Report: Q3/FY2010 ended September 30, 2010
JGBO -- Jiangbo Pharmaceuticals
(Performance Dec 31, 2010 to Sep 30, 2012: -98.78%)
2011-08-16 -- Last SEC Filing
2011-08-04 -- Delisting from NASDAQ
2011-05-31 -- Trading halted by NASDAQ
2011-05-23 -- Last Quarterly/Annual Report: Q3/FY2011 ended March 31, 2011
NIVS -- NIVS IntelliMedia Technology
(Performance Dec 31, 2010 to Sep 30, 2012: -99.08%)
2011-08-26 -- Last SEC Filing
2011-06-24 -- Delisting from NYSE Amex
2011-06-09 -- Auditor Engagement
2011-05-14 -- Auditor Resignation
2011-04-10 -- Auditor Engagement
2011-03-24 -- Trading halted by NYSE Amex
2011-03-23 -- Auditor Resignation
2010-11-04 -- Last Quarterly/Annual Report: Q3/FY2010 ended September 30, 2010
ORSX -- Orsus Xelent Technologies
(Performance Dec 31, 2010 to Sep 30, 2012: -93.63%)
2011-11-15 -- Last SEC Filing
2011-10-21 -- Delisting from NYSE Amex
2011-08-22 -- Last Quarterly/Annual Report: Q2/FY2011 ended June 30, 2011
PUDA -- Puda Coal
(Performance Dec 31, 2010 to Sep 30, 2012: -99.51%)
2011-09-02 -- Delisting from NYSE Amex
2011-09-01 -- Last SEC Filing
2011-08-19 -- Auditor Engagement
2011-07-07 -- Auditor Resignation
2011-04-11 -- Trading halted by NYSE Amex
2011-03-16 -- Last Quarterly/Annual Report: FY2010 ended December 31, 2010
QXMCF -- Qiao Xing Mobile Communication
(Performance Dec 31, 2010 to Sep 30, 2012: -100.00%)
2012-08-23 -- SEC Registration REVOKED
2012-06-15 -- Delisting from NASDAQ
2012-05-02 -- CFO Resignation
2012-04-16 -- Trading halted by NASDAQ
2011-11-30 -- Last Quarterly/Annual Report: Q2/FY2011 ended June 30, 2011
SBAY -- Subaye
(Performance Dec 31, 2010 to Sep 30, 2012: -99.97%)
2011-11-04 -- Last SEC Filing
2011-11-01 -- CFO Resignation
2011-06-24 -- Delisting from NASDAQ
2011-06-01 -- CFO Appointment
2011-05-20 -- CFO Resignation
2011-05-12 -- CEO Appointment
2011-05-12 -- CEO Resignation
2011-04-08 -- Trading halted by NASDAQ
2011-04-01 -- Auditor Resignation
2011-03-13 -- CFO Appointment
2011-03-10 -- CFO Resignation
2010-12-23 -- Auditor Change
2010-12-23 -- Last Quarterly/Annual Report: FY2010 ended September 30, 2010
SCEI -- Sino Clean Energy
(Performance Dec 31, 2010 to Sep 30, 2012: -95.01%)
2012-09-28 -- Last SEC Filing
2012-09-25 -- Delisting from NASDAQ
2012-08-10 -- CFO Resignation
2012-05-21 -- Trading halted by NASDAQ
2012-05-15 -- Last Quarterly/Annual Report: Q1/FY2012 ended March 31, 2012
SIHI -- SinoHub
(Performance Dec 31, 2010 to Sep 30, 2012: -94.26% | currently halted)
2012-09-24 -- Last SEC Filing
2012-09-07 -- Trading halted by NYSE Amex
2012-08-31 -- Auditor Resignation
2012-05-15 -- Last Quarterly/Annual Report: Q1/FY2012 ended March 31, 2012
UTRA -- Universal Travel Group
(Performance Dec 31, 2010 to Sep 30, 2012: -88.73%)
2012-08-15 -- Last SEC Filing
2012-05-08 -- Delisting from NYSE
2011-11-14 -- Last Quarterly/Annual Report: Q3/FY2011 ended September 30, 2011
2011-04-12 -- Trading halted by NYSE
WATG -- Wonder Auto Technology
(Performance Dec 31, 2010 to Sep 30, 2012: -96.03%)
2012-09-19 -- Last SEC Filing
2011-12-13 -- Auditor Engagement
2011-12-06 -- Auditor Resignation
2011-09-12 -- Delisting from NASDAQ
2011-07-25 -- CFO Appointment
2011-07-12 -- CFO Resignation
2011-07-12 -- CEO Resignation
2011-05-09 -- Trading halted by NASDAQ
2010-12-06 -- Auditor Change
2010-11-09 -- Last Quarterly/Annual Report: Q3/FY2010 ended September 30, 2010
WEMU -- Worldwide Energy and Manufacturing USA
(Performance Dec 31, 2010 to Sep 30, 2012: -100.00%)
2012-05-16 -- SEC Registration REVOKED
2011-05-30 -- CFO Appointment
2011-04-26 -- CFO Resignation
2011-04-25 -- CEO Appointment
2011-04-25 -- CEO Fired
2011-02-19 -- CFO Appointment
2011-02-19 -- CFO Resignation
2010-11-22 -- Last Quarterly/Annual Report: Q3/FY2010 ended September 30, 2010
XINGF -- Qiao Xing Universal Resources
(Performance Dec 31, 2010 to Sep 30, 2012: -100.00%)
2012-08-23 -- SEC Registration REVOKED
2012-06-15 -- Delisting from NASDAQ
2012-04-16 -- Trading halted by NASDAQ
2012-01-19 -- Auditor Change
2011-12-01 -- Last Quarterly/Annual Report: Q2/FY2011 ended June 30, 2011
YUII -- Yuhe International
(Performance Dec 31, 2010 to Sep 30, 2012: -98.55%)
2012-07-26 -- Last SEC Filing
2012-07-20 -- CFO Resignation
2011-08-10 -- Auditor Engagement
2011-07-21 -- Delisting from NASDAQ
2011-06-17 -- Trading halted by NASDAQ
2011-06-17 -- Auditor Resignation
2011-05-16 -- Last Quarterly/Annual Report: Q1/FY2011 ended March 31, 2011
Labels: ABAT, APWR, CAGC, CBEH, CCME, CELM, CIIC, CNGL, CRTP, CSKI, CVVT, DEER, DGW, DYP, FEED, HEAT, JGBO, NEP, NIV
12 Comments:
Really impressed! Everything is very open and very clear explanation of issues. It contains truly information. Your website is very useful. Thanks for sharing. Looking forward to more!
INTERNATIONAL CONCEPT OF WORK FROM HOME
Work from home theory is fast gaining popularity because of the freedom and flexibility that comes with it. Since one is not bound by fixed working hours, they can schedule their work at the time when they feel most productive and convenient to them. Women & Men benefit a lot from this concept of work since they can balance their home and work perfectly. People mostly find that in this situation, their productivity is higher and stress levels lower. Those who like isolation and a tranquil work environment also tend to prefer this way of working. Today, with the kind of communication networks available, millions of people worldwide are considering this option.
Women & Men who want to be independent but cannot afford to leave their responsibilities at home aside will benefit a lot from this concept of work. It makes it easier to maintain a healthy balance between home and work. The family doesn't get neglected and you can get your work done too. You can thus effectively juggle home responsibilities with your career. Working from home is definitely a viable option but it also needs a lot of hard work and discipline. You have to make a time schedule for yourself and stick to it. There will be a time frame of course for any job you take up and you have to fulfill that project within that time frame.
There are many things that can be done working from home. A few of them is listed below that will give you a general idea about the benefits of this concept.
Baby-sitting
This is the most common and highly preferred job that Women & Men like doing. Since in today's competitive world both the parents have to work they need a secure place to leave behind their children who will take care of them and parents can also relax without being worried all the time. In this job you don't require any degree or qualifications. You only have to know how to take care of children. Parents are happy to pay handsome salary and you can also earn a lot without putting too much of an effort.
Nursery
For those who have a garden or an open space at your disposal and are also interested in gardening can go for this method of earning money. If given proper time and efforts nursery business can flourish very well and you will earn handsomely. But just as all jobs establishing it will be a bit difficult but the end results are outstanding.
Freelance
Freelance can be in different wings. Either you can be a freelance reporter or a freelance photographer. You can also do designing or be in the advertising field doing project on your own. Being independent and working independently will depend on your field of work and the availability of its worth in the market. If you like doing jewellery designing you can do that at home totally independently. You can also work on freelancing as a marketing executive working from home. Wanna know more, email us on workfromhome.otr214422@gmail.com and we will send you information on how you can actually work as a marketing freelancer.
Internet related work
This is a very vast field and here sky is the limit. All you need is a computer and Internet facility. Whatever field you are into work at home is perfect match in the software field. You can match your time according to your convenience and complete whatever projects you get. To learn more about how to work from home, contact us today on workfromhome.otr214422@gmail.comand our team will get you started on some excellent work from home projects.
Diet food
Since now a days Women & Men are more conscious of the food that they eat hence they prefer to have homemade low cal food and if you can start supplying low cal food to various offices then it will be a very good source of income and not too much of efforts. You can hire a few ladies who will help you out and this can be a good business.
Thus think over this concept and go ahead.
Are you queensland assignment writing expert? You no problem you can assignment writing help Queensland student. Stay with us.
Way cool! college papers Some very valid points! I appreciate you writing this article plus the rest of the website is extremely good.
I think the article is quite assignment help important for the bloggers who want to learn SEO beginner like me, however, the above article my friend that I so know that usually I just commented Nice Post Gan but now I know how to comment that is good and right.
I got to see your page review on different web forums but its first experience to visit this page and its really wonderful post.Thanks Nonton Drama Korea
Nice post thanks for share article. worldstarhiphop.com mobile
China's market is amazing and successful because they are doing work hard and they will get more success in future because their relation with all around the World is admirable and many countries want to do business with China. Do you agree with me? Coursework writing services.
We do all that we can to guarantee our clients get their tasks composed on schedule and done in the proper manner. From Sociology Homework Help The incredible number of returning clients demonstrates the way that our composing organization merits your consideration also. It is ideal to just depend on checked administrations like our own.
You can get qualified business homework help at our online writing platform
Kickstart your startup firm with our staggering digital marketing and SEO services.
Everyone is aware of the assignment service london, and whether or not you are a student, I will use it to complete two assignments there: one on management and one on accounting.
Post a Comment
Subscribe to Post Comments [Atom]
<< Home