The lesson of ENC, Two options for CDC, page-19

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CptAwesome

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30/11/17

23:46

Post #: 29273489
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Originally posted by jakemonash ↑

CDC has the ultimate body called CMCI, which was listed in the US earlier than CDC listed in Australia, that would be the main reason they choose to use a US practice firm. But, if use the word China in the company's name, you representing an enormous consept, therefore can not use a small partner or give unpleasant feelings to outsiders.

They do have a complicated organisation structure, they do everything in consideration of the tax avoidance. See page 34 of the annual report, no tax matters in British Virgin Islands, no tax in HongKong, no tax in China because the government's policy made favourably for the agriculture business. But by using levels, that would bring nothing good to the company's reputation and diminishing investors' confidence.

They are lack of experience in managing an overseas listing matter, lack of exposure in English media, locals do not know what the CEO doing at all, only have news published in Chinese. That makes the sp down to south, remember the locals are the main power to support you in Australia, hope someone will confidently make a great English news in early 2018.

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All the large audit houses are in the US why not use one of these. If the business is as profitable as they say it is, it shouldn't be a problem. Instead they go to a small accounting office? I don't buy it. Also I don't buy for one minute how profitable the business is. The fixed asset expenses are more than the op cash flow. I question how much of this is actual investment instead of long-term maintenance.

CDC Price at posting: 6.7¢ Sentiment: None Disclosure: Not Held
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