Chaoda Modern (682 HK)

Chaoda Modern Agriculture (Holdings) Limited, through its subsidiaries, grows fruits and vegetables in China. The Company controls the entire production chain from seeds to processing and marketing.

In Sep 2011, Anonymous Analytics published a report accusing Chaoda of misleading shareholders on financing needs, falsifying financial statements, inflating capital spending and related party transactions.[1]

The chairman was also accused of insider trading by the Hong Kong government.[2] Proceedings have been commenced in the Market Misconduct Tribunal against the chairman, CFO and a fund manager.[3]

Trading had been suspended since 26 Sep 2011, and was resumed in Feb 2015.

[1] Anonymous Analytics: Chaoda Modern Agriculture: 11 Years of Deceit and Corporate Fraud, 26 Sep 2011

[2] SCMP: Chaoda accused of insider trading, 30 Sep 2011

[3] Chaoda Modern Agriculture: Announcement, 30 Sep 2011

Chaoda Modern Agriculture: Annual Report 2009

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