Member Info for andysand

A Chinese NOMAD for AIM? I don't know of one do you? But that doesn't mean much as I don't don't all the nomads approved by AIM. We will just have to wait and see what happens.

I hope it's true and good luck all!

I think AIM should be left alone. I came back to investing after a long period of being away. 7 years ago, I could trust share scope to give great tips based on figures from audited accounts. That situation has obviously changed. Accounts from AIM can no longer be trusted and so the whole index should be avoided until such time as AIM regulation can show that it has teeth. As far as I am concerned, any of them could be a fraud and that is beyond normal stock market risk! The auditors also have a lot to answer for. Thorough audits would flag up frauds immediately and stop these companies even reaching AIM. As far as ACE surviving goes, we would need to know the reasons for the resignation. But this is kept secret as you know. This many secrets is guaranteed to encourage fraudsters.

They didn't include broker details on the rns. This is unusual so *may* be a bad sign. Could have been an oversight of course. In any case, I think there is no reason to continue to hold while there is a chance to sell. Albeit at a guaranteed loss.

Yep. The situation is rather different now. Apology accepted.

We Brits are so used to trusting audited accounts that it seems inconceivable to us that they could be works of fiction. We quote gross profits and net assets etc until we are blue in the face. But if it is no more trustworthy than fairy tale, what's the point? Auhua announced the resignation of their NOMAD yesterday. Yet another company with apparently good figures looks to be a fraud. I held shares there but luckily got out just a week ago. Given the share price performance of JSI, is it likely that JSI is the only Chinese company on AIM that is not a fraud? it's possible (I thought the same of AUHUA), but it is unlikely surely. I have certainly learned my lesson, luckily without pain. But many in AUHUA will have lost an awful lot of money. In my opinion, holders here should sell at the first opportunity. It's probably not 'different this time'.

The NOMAD doesn't say why they are resigning. They never do (but they should!). It is either because they haven't been paid (unlikely) or because they believe the company is not bonefide. Either way, it's bad and unlikely to interest another nomad. I think the only realistic course of action is to get out with what you can. You could try hanging on for a month, but who is going to send the share price up? Who is going to buy? It is very difficult situation to find yourself in and I sympathise!

Yes. Very serious I am afraid.

I jumped ship a while ago and put the proceeds in Lonmin which turned out to be an excellent decision. It was boredom really of having dead money sitting there. I am still really interested in how this turns out though and may buy back in at some point. The trades are indeed baffling. I am very much looking forward to an rns. It's hard to imagine that even bad news would hurt the price much given the low valuation. I am expecting not much improvement in receivables given the recent trading statement by Jiasen. Probably some similar deal with property companies has been agreed whereby they pay as the properties are sold. But who knows really! Looking forward to the update.

Well, the stock market is certainly a barrel of fun today.

In order to fully understand the opportunity this company is currently giving us, you would do well to read this: http://hsprod.investis.com/ir/auhuaClean/rna_item.jsp?item=2119229205643264 I have read and re-read all of the recent reports and accounts. It really does answer a lot of questions. And each time I read them, I am tempted to buy more shares while I still can at this price. If you haven't read these reports thoroughly, I definitely recommend that you do. Whether you are a holder or (especially) whether you are considering joining us. I suspect there will not be too much time now to ge in at this plainly idiotic price.

For those of you that are in to the dark art of technical analysis, you might want to look here. (Very strong buy signal apparently). https://www.britishbulls.com/SignalPage.aspx?lang=en&Ticker=ACE.L Andy

On the other hand, an update tomorrow might be nice:) Monday morning updates are usually good...

I hope not! That would be very bad timing.

I completely get your point. However, Auhua Will need to convince the market that the cash is real in order to send the share price into orbit. At some point, the accounts will need to show positive cash flow. In many ways, they have to do EXTRA well in order to show that they are not lumped in with some of the more dubious China companies listed on AIM. I think they will do it eventually but of course, I am impatient for them to achieve this as soon as possible. In an ideal world, cash flow per share will exceed or be similar to eps. Then we will be off to the moon.

This is the guy in charge. This is the guy who really runs the nuts and bolts of this company. People like David Sumner may come and go, but this man is the heart of Auhua. "Chen Anxiang, Chief Executive Officer Mr Chen graduated from Shandong University with a degree in mechanical engineering in 1986. He is the Vice president and Secretary-General of Shandong Mould Industry Association and became a member of the China National Construction Association in 2003. Mr Chen is the founder of the Company and the brainchild behind many of the Group's innovations and patents. He has led the development of the Group since its formation in 2002. Mr Chen has been awarded "Engineering Professional" for Shandong province."

Disagree. They have available working capital. That is not the issue here. They make profits, but those profits are proving difficult to turn into hard cash. Let's say they make a sale, and invoice for £1000. They can then book that as profit. But if the customer hasn't yet paid, then it is receivables and not cash. And so the accounts will say profit:£1000, cash:zero. At the moment, receivables are too high. In other words, their customers need to pay their bills. This is the issue dogging the share price.

Working capital should fine. It's cash flow and receivables which they need to address. Once addressed, it will be a ten bagger.

Good and bad. They will need to write down their investment in ziolar so that will be an impairment. They flagged that in the interims. I am hoping that sales are broadly the same. What we really need to see is some improvement in cash flow. And if not, we need to hear the company talk about it and say what they are doing to address it. We'll have to sit and see. Alas I have no insider info.

The CEO is not some share flipper who forms dozens of companies and flips shares (think David Lenigas among others). He has a solid engineering background and has built the company up since 2002. Auhua is what he does and what he is. A proper CEO of a company formed on his expertise. Here are his inventions and patents. All of which are used in Auhua's products. http://patent.ipexl.com/inventor/chen_anxiang_1.html He is of a different breed to the fraudsters on AIM. His life is in Auhua. I do enjoy TW's articles. But he is wrong, wrong wrong here. He is calling fraud. I am calling company with cash flow issues that will be resolved in time. That's a very big difference.