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  • China XD Plastics: When The Numbers Don't Add Up, There's Over 80% Downside [View article]
    PiggyBanksDead,
    I have addressed this numerous times. He said he would answer my questions, took one of my questions, told me he could not answer it, and then never responded to me. I have shared which questions I would have asked him in the comments.
    Jul 22 06:25 PM | Likes Like |Link to Comment
  • China XD Plastics: When The Numbers Don't Add Up, There's Over 80% Downside [View article]
    Unmerited? In the company's response they make the point that the CFO is in China a good bit and is familiar with their operations. You can't have it both ways.
    Jul 17 06:28 PM | Likes Like |Link to Comment
  • China XD Plastics: When The Numbers Don't Add Up, There's Over 80% Downside [View article]
    I was impressed that they offered a fact based rebuttal. I disagree with some parts, however. I think that the DSO increasing "due to macroeconomic conditions" is actually a bad sign, as it seems that they admitted their business was deteriorating. I thought that saying the CFO wasn't at either of the places when they were accused of fraud was a weak response, it was relatively soon after he left and I suspect that fraud doesn't just start overnight, it is just part of the culture. I am skeptical about the claim of R&D and Kingfa, as someone else on this board made that claim but did not provide any evidence and I haven't seen that in their public filings.

    I think that CXDC overstated revenues and net income from 2008-2010 at the minimum.
    Jul 16 10:52 PM | Likes Like |Link to Comment
  • China XD Plastics: When The Numbers Don't Add Up, There's Over 80% Downside [View article]
    What question did you ask the CFO and what was his response?
    Jul 14 03:45 PM | Likes Like |Link to Comment
  • China XD Plastics: When The Numbers Don't Add Up, There's Over 80% Downside [View article]
    Could you provide a brief synopsis of what questions you asked him and what his answered were? Thanks.
    Jul 11 06:41 PM | 1 Like Like |Link to Comment
  • China XD Plastics: When The Numbers Don't Add Up, There's Over 80% Downside [View article]
    If you are asking me, no I do not have an audio recording of the phone call. My second question was going to be about why CXDC has so much higher margins, but unfortunately I was unable to ask it.
    Jul 11 03:31 PM | Likes Like |Link to Comment
  • China XD Plastics: When The Numbers Don't Add Up, There's Over 80% Downside [View article]
    Actually the CEO should be in China, where the company is headquartered. But the CFO is in NYC. Even if the CEO was out the CFO should have been able to answer basic questions. And that's fair enough, everything I presented I believe to be a not insignificant red flag, and I let the readers decide which ones they think are important.
    Jul 10 11:28 PM | Likes Like |Link to Comment
  • China XD Plastics: When The Numbers Don't Add Up, There's Over 80% Downside [View article]
    I was referring to part of my thesis being based on a 3 year old SA article...
    Jul 10 08:52 PM | Likes Like |Link to Comment
  • China XD Plastics: When The Numbers Don't Add Up, There's Over 80% Downside [View article]
    Fair enough. But here's the situation. I email the CFO asking to set up a phone call, no email back. I call the CFO, he picks up the phone (that's sort of weird by itself). I ask him if this is a good time to ask him some questions, he says yes.

    Now I think I will be able to ask him 2-3 questions which will hopefully enlighten me as to what is going on here. I ask him one question. He responds by saying he can't answer any questions because his manager is out. How is that an acceptable response for a CFO? But fine, he says he will call back in 20 minutes, he does not.

    I consider this interaction to be a huge red flag. It's not that he wouldn't answer my questions, If he had answered the phone and said "I can't talk to you" I would be fine. Or if he had just said "I'm busy right now," I'd be fine. But committing to answering questions and then backing out is a big red flag.
    Jul 10 08:21 PM | 1 Like Like |Link to Comment
  • China XD Plastics: When The Numbers Don't Add Up, There's Over 80% Downside [View article]
    Have you ever read TheStreet reports on individual stocks. Like this one> http://bit.ly/TVXVWx

    There was a corporate event and a special dividend. Any human analyst would know that. Many of the law firms press releases are obviously very formulaic.
    Jul 10 08:10 PM | Likes Like |Link to Comment
  • China XD Plastics: When The Numbers Don't Add Up, There's Over 80% Downside [View article]
    Seems like most of their press releases are written by robots, but I just wanted to clarify! Thanks for your comments!
    Jul 10 04:51 PM | Likes Like |Link to Comment
  • China XD Plastics: When The Numbers Don't Add Up, There's Over 80% Downside [View article]
    They say nothing.
    Jul 10 03:13 PM | 2 Likes Like |Link to Comment
  • China XD Plastics: When The Numbers Don't Add Up, There's Over 80% Downside [View article]
    I just saw this on the Yahoo Finance Newsfeed for CXDC: http://yhoo.it/TVqC65

    The press release makes several mistakes, I never accused the company of fraud. Also they got the dates wrong, I never mentioned anything about 2011 or 2012.
    Jul 10 02:55 PM | 1 Like Like |Link to Comment
  • China XD Plastics: When The Numbers Don't Add Up, There's Over 80% Downside [View article]
    Ok, thank you for the clarification. I was speaking more broadly but now realize that comment could be misinterpreted.
    Jul 10 12:32 PM | Likes Like |Link to Comment
  • China XD Plastics: When The Numbers Don't Add Up, There's Over 80% Downside [View article]
    Thank you
    Jul 10 12:02 PM | 2 Likes Like |Link to Comment
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