3 February, 2021

FRAUDS IN 2020

And those with similar traits

Mark Webb

mark-webb joyy-inc vitasoy-international-holdings-ltd iqiyi-inc china-medical-systems-holdings-ltd 58com tal-education pinduoduo-inc wuxi-biologics huazhu-group-ltd china-feihe-ltd ak-medical-hold luckin-coffee nmc-health china-harmony-auto-holding-ltd jinkosolar-holding wirecard-ag kandi-technologies-group-inc gsx-techedu gds-holdings china-metal-resources-utilization tianneng-power-international hebron-technology wins-finance-holdings ideanomics-inc upl-ltd staar-surgical-company lexin-fintech-holdings-ltd spi-energy-co-ltd seek-ltd ever-sunshine-lifestyle beijing-jingxi-culture-and-tourism cbak-evergy china-aoyuan-group

Insights

1 December, 2023

NEWSLETTER: EVERGRANDE (3333 HK)

Never profitable

Fredrik Oeqvist

Evergrande’s much delayed and recently published 2021 annual report makes clear that it significantly overstated revenue and earnings – most likely for many years. Contrary to what some people think, Evergrande was not so much a victim of tightened liquidity or a COVID-induced property market downturn; its problems were far more fundamental – there were never any profits....

18 August, 2020

NEWSLETTER: COMING HOME?

Watch out for the privatisation “squeeze out”

The proposed Holding Foreign Companies Accountable Act could force hundreds of Chinese companies listed on US exchanges to delist over the next few years. For many large companies, seeking a secondary listing in Hong Kong or the mainland is a sensible insurance policy. However, investors should be wary of companies which decide to privatise and then relist. Our analysis of...