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Ann: Suspension from Official Quotation, page-429

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chand

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05/04/24

19:12

Post #: 73213697
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Originally posted by Shortblack ↑

Imagine posting a Chinese Communist Government controlled media piece as facts to support your investment choices. I guess desperate times call for desperate measures.

This is a promotional piece highlighting the governments policies and initiatives, which briefly mentions a newcomer EM, and seems to promote a "MEMS Consulting" company in China.
Good on China for working hard to find their place in new tech production, however this is hardly news.

Question: the EM rep states that "we currently have orders of US$10mil for MEMS digital sound chips" and "plans to officially start chip packaging mass production in June this year". Sounds good for the Chinese media.
But I can't find mention in any of AKP reporting of a US$10mil purchase contract being signed for production commencing in June.
Can anyone point me to it ?
Surely if true this is a material event that should be announced to the market.

I can only see in the latest report the company stating -
Furthermore, on the basis that the initial pre-production packaged chips meet all the design specifications, the consolidated entity will need to commit a further US$9,600,000 (approx. AUD $14,769,000) for fully tested packaged production chips over the 12 to 18 months post receipt of the initial pre-production packaged chips meeting all the design specifications.

Is EM lying in this Chinese media report ?

Expand

So you are disputing that EM states a $10 million contract vs AKP stating $9.6 million order for chips upon satisfactory testing.

AKP Price at posting: $6.20 Sentiment: Hold Disclosure: Held
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Ann: Suspension from Official Quotation, page-429

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