I saw this company today on ARF listed company page today and was curious about its low PE and high Dividend%, so I had a look of it then immidiately know it is one of the Chinese company listed in oversea market hoax, this kind of thing has been popular for the last few years.
Thought I should post this to get rise awareness for some of you. I can almost be certain to consider these "china based companies" basically come to overseas market to get the IPO money and thats it (they get dollars so even saved the effort of transferring the money out of China) . - In China the stock market regulation is still "chartered system" that means the company requires to meet strict criteria(eg. Years of profitable operation; revenue size; profit size and growth; background of the management; compliance with the laws; etc) and been proven by CSRC before its IPO.
Due to that reason, China has limited amount listed company compare to its economic capacity, therefore those listed companies generally enjoys a valuation that is at least 20% higher than the overseas market. - oversea IPO for Chinese company means scarificing higher valuation for quicker and easier public offering.
So there are two main types chinese companies go oversea for IPO, one is they can't fullfill the requirements by CSRC due to their business nature, such as some internet company(Alibaba, baidu, tencent, 360 etc), the others are fraud companies with bad intention.
I do not have proof to say TTC is 100% guilty but I guess everyone can judge for yourself already.
It's a common understanding among us that the "China based" small size oversea market listed company, has very high potential be a hoax. Sadly ASX didnt prevent this.
Asan Chinese I feel embarrased to see this happening.
