还记得你第一个买的股票吗

quadro

股价暴跌 60% · 瑞幸下周遭退市

（图：法新社）

（纽约27日电）在美上市的中国瑞幸咖啡，因财务造假丑闻而一度在4月7日被纳斯达克交易所停牌，虽然该公司股票已在5月20日恢复交易，但瑞幸周五宣布撤销召开听证会请求，并将于下周一遭纳斯达克交易所退市，消息传出后，瑞幸股价周五在美国开盘不久后及跌至熔断，最低暴跌60%。

瑞幸咖啡曾在5月收到那斯达克交易所的退市通知后，于5月22日向交易所提交请求召开听证会，原订于6月25日举行。

文章来源 ： 星洲日报 2020-06-27

quadro

GIC-backed PRC coffee chain to be delisted from NASDAQ over US$310 million fraud

Last Friday (15 May), the New York’s NASDAQ exchange sent notice to China-based Luckin Coffee that it will proceed to delist the company’s securities from its exchange. The loss-making company was publicly listed only for about a year, in May last year (‘Luckin Coffee’s founder says sorry as Nasdaq prepares to kick out his stock for fraud, in the first expulsion of a Chinese company‘, 19 May).

The impending delisting of Luckin Coffee came after the company disclosed last month (2 Apr) that a US$310 million accounting fraud was uncovered inside the company. At the same time, Luckin announced that it had suspended COO Liu Jian for alleged misconduct. The company’s turnover was inflated by about 2.2 billion yuan (US$310 million) between the second and fourth quarters of last year, and certain costs and expenses were “substantially inflated” through fabricated transactions.

Luckin’s stock price immediately plunged 76% to USD6.40 on the day of the fraud disclosure (2 Apr), from the previous day closing of USD26.20. In the next few days, its stock price continued to drop until it reached USD4.39 on 6 Apr before NASDAQ suspended the company’s share trading.

Last Wed (13 May), COO Liu and CEO Jenny Qian were fired from the company, while six other employees involved in or had knowledge of the alleged fraud were placed on suspension or leave.

Luckin was heavily backed by institutional investors like Singapore’s GIC, and the Qatar Investment Authority.

Shares of the company resumed trading on Wed (20 May). In its news article, SCMP noted, “Shareholders, including Singapore’s GIC, and the Qatar Investment Authority – according to exchange filings at the end of February – are almost certainly to rush for the exit when trading resumes, as Luckin Coffee faces expulsion (from NASDAQ) pending the outcome of its appeal.”

Since the resumption of trading, Luckin’s stock price continued to drop in the last 2 days: USD2.82 (20 May), USD2.01 (21 May).

NASDAQ has also introduced new rules to make it more difficult for some Chinese firms to float on the exchange. They include tougher accounting rules and a requirement that an IPO raises at least US$25 million.

Luckin Coffee – a Starbucks wannabe

According to a report from Reuters, Luckin Coffee started selling coffee drinks in Jan 2018. Some 6 months later, Luckin was able to raise US$200 million in its maiden fundraising round which valued the startup at US$1 billion. Investors included Singapore’s GIC.

By Nov 2018, Luckin raised another US$200 million which increased the company’s valuation to US$2.2 billion. GIC also participated in this second round of financing.

Luckin Coffee’s goal was to challenge Starbucks. It spent millions of dollars a year opening new outlets, trying to unseat Starbucks in China. But Starbucks has also been expanding at break-neck speed, opening a new store roughly every 15 hours.

To increase its customer base, Luckin would offer free vouchers to customers. But chasing after the entrenched Starbucks has proven to be costly to Luckin. It was reported that Luckin is burning through US$130 million a year and would continue to see losses. The company reported a net loss of US$241.3 million for 2018, on total revenue of US$125.3 million (‘Share price of GIC-backed PRC coffee chain plunges 75.5% after investigation finds COO fabricated sales’).

It’s not known how many shares GIC has sold and got out of Luckin but according to a regulatory filing, as at 28 Feb this year, GIC has 42,572,128 shares (5.4%) of the company. Luckin is now valued at about $0.5 billion as of yesterday’s close (21 May).

On its website, GIC explained that it manages the proceeds from the bonds – Special Singapore Government Securities (SSGS) – that are issued by the Singapore Government, which the CPF Board has invested in with the CPF monies. “So while the CPF monies are not directly transferred to GIC for management, one of the sources of funds for the Government’s assets managed by GIC is the proceeds from SSGS,” GIC said.

Muddy Waters exposes Luckin’s fraud

California-based Muddy Waters Research which used to cross swords with Temasek over Olam a few years ago, sounded alarms over Luckin in Jan this year. It published an anonymous 89-page report that accused Luckin of being a “fraud”. The report, which cited “smoking gun evidence” including 11,260 hours of traffic videos, alleged that Luckin exaggerated daily items per store by more than half during the second half of 2019.

Luckin at first denied the evidence. Then a couple of months later, it disclosed that its COO together with the other members of senior management of the company were fabricating fictitious transactions to inflate revenue.

Muddy Waters founder Carson Block told the media, “This is again a wake-up call for U.S. policymakers, regulators, and investors about the extreme fraud risk China-based companies pose to our (US) markets.”

quadro

投资买股票最怕是买到龙筹股
上市的目的是为了集资扩展生意, 并非是为了..........

这家咖啡上市公司将要在 Nasdaq 交易所下市
报导还提到某个国家的投资机构也有投资在这家连锁店之内

yeey3e

quadro 发表于 28-6-2020 11:32 AM
投资买股票最怕是买到龙筹股
上市的目的是为了集资扩展生意, 并非是为了..........

这家咖啡上市公司将要在 Nasdaq 交易所下市
报导还提到某个国家的投资机构也有投资在这家连锁店之内  ...

其实不只是龙筹股，新加坡 hyflux 也是一单，我的同事买了血本无归
马股年头就有伦敦饼

其实说真的，这种做账的漏洞，我们这种投资者是根本不可能看得出的

真的买到就真的要去冲花水去霉运了

Skymaster1188

龙筹股的意思是？ 上网找了一下。。是中国概念股？可是我不是很明白哦。。。。

新加坡 hyflux， 马股伦敦饼发生什么事啊？
我只是大概知道马股伦敦饼下市了。。。对吗？ 其他的真的blur blur 了。。。

yeey3e

Skymaster1188 发表于 28-6-2020 05:31 PM
龙筹股的意思是？ 上网找了一下。。是中国概念股？可是我不是很明白哦。。。。

新加坡 hyflux， 马股伦敦饼发生什么事啊？
我只是大概知道马股伦敦饼下市了。。。对吗？ 其他的真的blur blur 了。。。

通常指的是来其他国家上市的中国公司，就一个壳而已

hyflux 和 伦敦饼都是因为账目问题而使到很多投资者血本无归

cescloh

quadro 发表于 28-6-2020 11:32 AM
投资买股票最怕是买到龙筹股
上市的目的是为了集资扩展生意, 并非是为了..........

这家咖啡上市公司将要在 Nasdaq 交易所下市
报导还提到某个国家的投资机构也有投资在这家连锁店之内  ...

Luckin Cafe在茨廠街那邊，靠近我工作地方，常常跑去那裡吃的哈哈

quadro

cescloh 发表于 28-6-2020 08:41 PM
Luckin Cafe在茨廠街那邊，靠近我工作地方，常常跑去那裡吃的哈哈

在你工作那里的 luckin kopi 好像和这间在美国 Nasdaq 交易所上市的 luckin coffee 有分别咧

luckin kopi 的象征动物是一条金鱼

可是美国的 luckin coffee 的象征动物是一只长角鹿

quadro

yeey3e 发表于 28-6-2020 01:19 PM
其实不只是龙筹股，新加坡 hyflux 也是一单，我的同事买了血本无归
马股年头就有伦敦饼

其实说真的，这种做账的漏洞，我们这种投资者是根本不可能看得出的

真的买到就真的要去冲花水去霉运了

是的, 其实不仅仅有龙筹公司是这样
就连其它公司也是这样, 现在市道不好要多注意下自己本身投资的公司经营模式是如何的

尤其是那些供应量少, 需求少的公司
看了都可怕呀

hyflux 是新加坡本地人经营的公司吗?
还有 Hin Leong Trading 也是一样

quadro

Skymaster1188 发表于 28-6-2020 05:31 PM
龙筹股的意思是？ 上网找了一下。。是中国概念股？可是我不是很明白哦。。。。

新加坡 hyflux， 马股伦敦饼发生什么事啊？
我只是大概知道马股伦敦饼下市了。。。对吗？ 其他的真的blur blur 了。。。

yeey3e 说对了, 就是在其它国家上市的大陆公司
买这些公司之前要注意一下, 有些公司的帐目有问题

quadro

Three China-based companies found giving false financial statements to Bursa

March 29, 2019 19:03 pm +08

KUALA LUMPUR (March 29): Three China-based companies, namely China Stationery Ltd, Xingquan International Sports Holdings Ltd and Maxwell International Holdings Bhd, have been found furnishing false or misleading financial statements to Bursa Malaysia.

This, according to the Securities Commission Malaysia (SC), were among securities law breaches the three companies committed, for which they have been rapped by the SC.

In the case of CSL, SC said it also reprimanded its executive chairman and CEO Chan Fung @ Kwan Wing Yin, former executive director Angus Kwan Chun Jut and former independent non-executive director Herman Widjaja for committing the above offence.

Chan was further reprimanded for causing two of CSL's wholly-owned subsidiaries to be a guarantor for his personal loans, "with the intention of causing wrongful loss to the said subsidiaries".

Chan and Angus were also reprimanded for failing to respond to the SC when served with written notices requesting for information.

Xingquan, meanwhile, was reprimanded together with its executive chairman and CEO Datuk Wu Qingquan, executive director Wu Lianfa, former non-independent non-executive director Ng Sio Peng and former senior independent non-executive director Zhou Li Yi.

Besides furnishing false or misleading financial statements to Bursa, the reprimand was also for falsely recording a loss of renminbi 415.7 million from the sale of inventory by Xingquan's wholly-owned subsidiary, furnishing a false agreement to Bursa between the said subsidiary and a third party, and recording cash and bank balances in eight bank accounts collectively belonging to Xingquan that were false or misleading.

Qingquan and Lianfa were also rapped for failing to respond to the SC when the regulator sought more information.

In the case of Maxwell, it was reprimanded together with its president and executive director at the material time, Li Kwai Chun, and independent non-executive director Su DeMou, and former chief financial officer Tan Swee Song for recording in Maxwell's financial statements a payment of renminbi 45.6 million by Maxwell's wholly-owned subsidiary, which was a false or misleading information.

Li, Su and Tan, together with Maxwell and its former CEO and executive director Xie Zhenan, were also reprimanded by the SC for furnishing false or misleading financial statements to Bursa.

The SC is also of the opinion that the retention of office by four of the directors in the three companies are prejudicial to public interest. The four directors are: CSL's Chan as executive chairman and CEO, Xingquan's Qingquan as executive chairman and CEO, Xingquan's Lianfa as executive director, and Maxwell's Li as non-independent, non-executive director.

"In making this public statement under section 354(3)(f)(ii) of the Capital Markets and Services Act 2007 (CMSA) against the four directors, the SC took into consideration, among others, the seriousness of the breaches committed by these individuals," the SC said.

SC said that the companies are given a period of 30 days from the date the sanctions are meted out to make their appeal.

It also noted that Bursa Malaysia had suspended the trading of Maxwell on May 10, 2018, Xingquan on June 8, 2017, and CSL on Dec 5, 2018.

新闻来自 The Edge Market

yeey3e

飞天豹～

组合剩顶级还处于红色，明天应该有机会变青了

Sardine01

yeey3e 发表于 29-6-2020 05:44 PM
飞天豹～

组合剩顶级还处于红色，明天应该有机会变青了

恭喜yee大持股大涨，就如奇门遁甲预测一样


竟然可以忍受15%的Loss，如果是我，持股早就停损了
高手赚钱是理所当然，值得学习

yeey3e

Sardine01 发表于 30-6-2020 08:29 AM
恭喜yee大持股大涨，就如奇门遁甲预测一样


竟然可以忍受15%的Loss，如果是我，持股早就停损了
高手赚钱是理所当然，值得学习

可惜奇门遁甲当时预测是会大起，却没预测到会有回调，不然就可以避免这两个星期的冤枉路了

还要再下功夫多研究

黑豹和顶级这一战真的打到怕怕，因为两个星期的回调，我马金几乎处于 1:1 的位置，在这种不稳定的市是非常危险的

下次要多多留意了

yeey3e

手痒再加码黑豹

刚好关在我的加码位，希望明天继续飞

奇门出九天，应该还有戏

Sardine01

yeey3e 发表于 30-6-2020 06:03 PM
手痒再加码黑豹

刚好关在我的加码位，希望明天继续飞

奇门出九天，应该还有戏

真是有勇气，佩服！
我的股票跌到我信心全无，只靠UOADEV，过2天要发股息，希望明天可以创新高，加油！

yeey3e

Sardine01 发表于 30-6-2020 08:56 PM
真是有勇气，佩服！
我的股票跌到我信心全无，只靠UOADEV，过2天要发股息，希望明天可以创新高，加油！

大大目前手上拿着什么？

产业股最近有动静，spsetia 好像也起了很多

大大别失去信心。我在3月时的大跌失去了40%的资金，接近30k。可是还是慢慢赚回来了

重要的是别买烂筹股

yeey3e

兴旺發，heng ong huat

新 myvi 来着了

Sardine01

yeey3e 发表于 1-7-2020 08:00 AM
大大目前手上拿着什么？

产业股最近有动静，spsetia 好像也起了很多

大大别失去信心。我在3月时的大跌失去了40%的资金，接近30k。可是还是慢慢赚回来了

重要的是别买烂筹股

目前套住Serb跟Wellcal，这2支帐面亏20K
今天换Liihen大涨10%创新高，可惜持股剩60K而已
我的坏习惯，会卖赚钱的股票去补亏钱的股票，像补Serb跟Wellcal
结果就享受不到大涨的甜头
这2个月操作就原形毕露，还好即早看清自己的缺失，慢慢改进中。

Skymaster1188

Serb昨晚看到利好消息。。。以为今天会飞一下。。。怎么知道没有油的。。。飞不起。。。
我的Serb也套了很久一下。。。