Qingmei

Qingmei's audit is done by BDO. BDO Limited is the Hong Kong member firm of BDO International Limited, a global accountancy network with over 1,100 offices in more than 130 countries and over 48,000 people providing advisory services throughout the world. Since our establishment in 1981, we have committed ourselves to facilitating the growth of businesses by advising the people behind them. As part of the international BDO network, we combine international expertise with the region's best-available business and advisory services. By acting locally while thinking globally, we continue to provide truly customised services to local enterprises and multinational corporations alike. Our professionals are well-versed in all accounting and auditing standards, tax and investment regulations prevailing in Hong Kong, Mainland China as well as other major countries. We conform to the highest international standards in a full range of professional services including: Assurance Services Specialist Advisory Services Risk Advisory Services Tax Services Business Services. BDO Limited is a Hong Kong member firm of BDO International Limited which is the world’s fifth largest network of public accounting firms according to International Accounting Bulletin issued in Jan 2012. As a well established and sizeable firm and BDO network’s member firm, BDO Limited has been stringently adhering both to applicable professional standards as well as to BDO International highest and most rigorous standards and quality assurance.

regarding mrt, u have fundamental reasons to sell. That i understand. but QM, no fundamental reasons to sell other than FEAR, PANIC, Herd Instinct.

Cheongwee , I think China Gaoxian went belly up less than 2 yrs after SGX listing . The length of time is irrelevant. A rich can go broke in a day if he makes a fatal decision eg if he goes to a casino to gamble recklessly. BDO only signed off the accs. end June 2011 . So one yr in between external audits for a co. is a long time.
I am now vested as I decided to buy some in the closing minutes yesterday. But the selling was intense, so may continue today or when they release results latest 9th May. My take is that there will be no dividends YE2012 as may just break even. The worry will be from 2013 onwards and how the CEO cope in his personal foray downstream? . Running a shoe company require deep pockets and there are thousands of them in China.
Only gamble on this risky counter with spare cash you can afford to lose. Be prepared to lose all. By the way, I don’t think value investing applies to S-Chips. My views only.

QM has gone up 0.3 cents. let's hope the selldown has finally stopped>

Relaxing, Peterlynch, and Yang,
 
Congrats, Qingmei has shot back to 8.2 cents. It sure its a painful counter for me. All the best and your mental fortitude pays off.

Green rookie why don't u buy some more? There's still plenty of upside. There quite a bit of assurance coming from QM that they are willing to talk to us thru video conferencing. Forget about the loss yesterday. Start afresh, if u have cash to spare. What's happening now proves the sell down was really based on emotions, not facts. The intrinsic value of QM should be at least 16-18 cents