Read Jin Ri Cai Fu Bao (今日财富报 or Today's Fortune), if you read Chinese, you should not hesitate shorting FSIN after reading it.
In fact, the way FSIN forges its financial statement is so common in China, so many others are using the same means to fool foreign investors, especially those who do not read Chinese. Ashamed.
"According to some American investors who were the victims of the accounting fraud, the Chinese police is actively involved in an investigation of a sophisticated "financial fraud school" which systematically produces the cases that fraudulent Chinese firms got public in the US. This fraud school taught the methods of forging sales documents, government documents and financial statements to some Chinese entrepreneurs who are eager for quick success and instant benefit, in order to make them listed on OTCBB, NASDAQ, AMEX and NYSE to obtain investors' money."
A more important question is: what do they do when they obtained investors' money after getting listed? If you think they'll make business better you are too naive. I already mentioned that they are "eager for quick success and instant benefit", or in Chinese, "急功近利", they highly probably used the money purchasing a luxury house in Australia or Orange County.
Disclosure: I am short FSIN.