Recent Press on Chinese Reverse Mergers and Regulatory Deficiencies

Below are recent articles and reports concerning fraud in China, particularly surrounding US-listed Chinese companies, as well as recent press releases announcing class-action lawsuits or investigations against certain US-listed Chinese companies for suspected violations of securities laws. Also below is a table showing total declines in share price, from all-time peak to current, for the companies mentioned.

asensio.com’s reports to regulators on its investigation of the causes of apparent cases of securities fraud among US-listed Chinese companies and related regulatory deficiencies were an important part of informing current policy debates surrounding inadequate auditing and disclosure standards among foreign companies listed in the US via reverse mergers.

September 15, 2010

Bronte Capital

September 14, 2010

TheStreet.com

September 14, 2010

Business Wire

September 14, 2010

Citron Research

September 9, 2010

Dow Jones

September 2, 2010

Business Wire

August 26, 2010

Barron’s

August 6, 2010

Securities and Exchange Commission

July 18, 2010

The Wall Street Journal

July 16, 2010

PR Newswire

June 12, 2010

Business Wire

June 9, 2010

The Huffington Post

June 7, 2010

U.S. Securities and Exchange Commission

May 22, 2010

Barron’s

December 30, 2009

The New York Times

Stock Price Declines for Certain US-Listed Chinese Companies, From
All-Time Peak to Current (9/16/10)

Ticker
Peak Current Decline
ADY
44.00 9.44 -79%
AOB 14.48 2.33 -84%
CBEH 12.31 6.28 -49%
CGA 18.70 8.76 -53%
CHBT 19.74 10.16 -49%
CHNG 15.62 5.81 -63%
CSKI 25.45 6.65 -74%
CYD 21.68 18.39 -15%
DEER 18.97 8.43 -56%
DGW 41.43 12.35 -70%
DYP 11.23 2.52 -78%
FEED 21.31 2.41 -89%
FUQI 32.68 7.07 -78%
GFRE 14.94 7.05 -53%
LIWA 12..69 7.95 -37%
NEP 11.59 5.17 -55%
ONP 15.15 4.17 -72%
RINO 35.15 14.13 -60%
SPU 8.10 4.38 -46%
UTA 17.20 4.05 -76%
Posted in Complete Report Record

Manuel Asensio doesn’t bet often. But when he does, it’s wise to pay attention.

Paul Kaihla
eCompany Now
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About Our Founder
Learn more about asensio.com's founder, Manuel P. Asensio, and the website's origins. Click here to be directed to Mr. Asensio’s professional biography.
Media Record
Click here to see selected articles that discuss asensio.com's work and its unique legacy. asensio.com also strives to maintain a complete record of articles dealing with the companies that are the subject of asensio.com research.
Investment Record
Click here to view a list of the companies that have been subjects of asensio.com reporting and click here to see the complete investment record.
Asensio and FINRA
Asensio & Company, Inc. and Manuel P. Asensio are the only dedicated short sellers ever to have been members of FINRA. This unique-minority membership created complications in the regulatory relationship. Being the first activist short investors and among the first FINRA member firms with a website added to the complexity. A statement by Mr. Asensio is available here. Information necessary to obtain a meaningful understanding of the dispute is available in complete form HERE.