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ShareProphets China AIM 'Filthy Forty' update – the frauds scrambling to get 2016 results out in time edition

By Steve Moore | Sunday 9 July 2017


Since our previous update, most of the remaining ShareProphets China AIM 'Filthy Forty' companies have been scrambling to get results out in time, two further have been suspended and another (MoneySwap) has been booted off the AIM Casino - to follow the likes of Geong International and co in 'Geong, Geong' and then Gone...

Following the expected cancellation of MoneySwap came a suspension in Pembridge Resources (PERE) - not fulfilled investing policy, currently seeking a Standard listing - and then Aquatic Foods (AFG) - not in a position to publish 2016 accounts by 30th June deadline.

Indeed, reflecting the quality here, of the remaining 10 with financial calendar years, 6 saw it left until June to announce their results (1st June - HaiKe Chemical, 28th June – All Asia Asset Capital, 29th June - Origo Partners, Northwest Investment, 30th June - Alpha Returns, China New Energy) and 1 (PCG Entertainment) has changed its accounting reference date to 31st March.

There are now 27 cancellations, against just 3 winners. If you count the cancellations & suspensions as -100%, the overall average is worse than -50% and excluding the 3 best and 3 worst worse than -93%. The full tale of woe follows...

List Date Company IPO Price (p) Price (close 07/07/2017) Change since IPO Nomad & Broker 
02-Jul-04 RCG HLDGS LTD (RCG) cancelled - 08/07/2014 "best interests" Smith & Williamson
17-Dec-04 ALPHA RETURNS GRP PLC (ARGP) 2,125 0.25p -100% ZAI & Peterhouse
03-Aug-05 ASIAN CITRUS HLDGS (ACHL) cancelled - 29/03/2017 accounts not published  Cantor Fitzgerald
06-Feb-06 BODISEN BIOTECH INC (BODI) cancelled - 29/12/2014 accounts not published Charles Stanley
19-May-06 HUTCHISON CHINA MEDITECH (HCM) 275 3535p 1185% Panmure Gordon
23-Jun-06 GEONG INTERNATIONAL (GNG) cancelled - 02/11/2015 accounts not published & NOMAD resignation finnCap
26-Jun-06 ARC CAPITAL HLDGS LTD (ARCH) cancelled - 16/10/2015 NOMAD resignation Grant Thornton & Edmond de Rothschild
31-Jul-06 TINCI HOLDINGS (TNCI) cancelled - 23/01/2015 "best interests" Stockdale
05-Oct-06 ASIAN GROWTH PROPERTIES (AGP) 36.75 131p (inc. 106p special dividend) 256% Panmure Gordon
23-Oct-06 LED INTL HLDGS LTD (LED) cancelled - 22/08/2016 accounts not published & NOMAD resignation Allenby
14-Dec-06 TAIHUA PLC (TAIH) cancelled - 08/05/2017 "best interests" WH Ireland
21-Dec-06 WALCOM GROUP LTD (WALG) 35 0.95p -97% Allenby
14-Feb-07 HAIKE CHEMICAL GROUP LTD (HAIK) 79.8 33p -59% Stockdale
10-Dec-07 CHINA FOOD COMPANY PLC (CFC) cancelled - 29/12/2014 accounts not published  finnCap & Numis
30-Sep-08 SORBIC INTL PLC (SORB) cancelled - 17/07/2015 NOMAD resignation  finnCap & Hybridan
14-Dec-09 ORIGO PARTNERS PLC (OPP)  50 1.875p -96% Smith & Williamson
06-Sep-10 ASIA CERAMICS HLDGS PLC (ACHP) cancelled - 29/03/2016 NOMAD resignation WH Ireland
12-Oct-10 GLOBAL LOCK SAFETY(INTL)GRP CO LTD (GLOK) cancelled - 19/05/2015 NOMAD resignation Allenby
01-Apr-11 EASTBRIDGE INVESTMENTS PLC (EBIV) cancelled - 12/07/2016 not fulfilled investing policy Northland & Peterhouse
23-May-11 CHINA NEW ENERGY LTD (CNEL) 7 1.25p -82% Cairn & Daniel Stewart
01-Aug-11 PEMBRIDGE RESOURCES PLC (PERE) suspended - 15/06/2017 no deal complete, seeking Standard listing SPARK, SI Capital & Beaufort
31-Aug-11 MONEYSWAP PLC (SWAP) cancelled - 07/06/2017 "best interests" Allenby
02-Apr-12 AUHUA CLEAN ENERGY PLC (ACE) cancelled - 30/03/2016 NOMAD resignation Grant Thornton & WH Ireland
05-Apr-12 NAIBU GLOBAL INTL CO LTD (NBU) cancelled - 23/06/2015 NOMAD resignation  ZAI & Daniel Stewart
22-Jun-12 GLOBAL MARKET GROUP LTD (GMC) cancelled - 24/09/2015 NOMAD resignation Grant ThorntonStockdale
20-Aug-12 CHINA CHAINTEK UNITED CO LTD (CTEK) cancelled - 12/10/2015 NOMAD resignation ZAI
09-Nov-12 VMOTO LTD (VMT) cancelled - 19/11/2015 "best interests", now just on ASX finnCap
19-Dec-12 GREEN CHINA HLDGS (GCH) cancelled - 18/06/2014 "best interests" Cairn
24-Dec-12 CAMKIDS GROUP PLC (CAMK) cancelled - 30/10/2015 NOMAD resignation Allenby
02-May-13 ALL ASIA ASSET CAP LTD (AAA) 3 3.5p 17% Allenby
16-Oct-13 CHINA RERUN CHEMICAL GROUP LTD (CHRR) cancelled - 09/11/2015 NOMAD resignation Cairn & Beaufort
07-Nov-13 GOWIN NEW ENERGY GRP LTD (GWIN) cancelled - 30/03/2015 NOMAD resignation, now on NEX Exchange Cairn & Alexander David
09-Dec-13 JQW PLC (JQW) cancelled - 05/01/2016 NOMAD resignation Cairn
14-Jul-14 JIASEN INTL HLDGS LTD (JSI) cancelled - 28/02/2017 "best interests"  Cairn & Beaufort
01-Aug-14 GTS CHEMICAL HLDGS PLC (GTS) cancelled - 02/08/2016 "best interests" SP Angel
04-Dec-14 PCG ENTERTAINMENT PLC (PCGE) 6 0.085p -99% Allenby & Beaufort
03-Feb-15 AQUATIC FOODS GROUP PLC (AFG) suspended - 29/06/2017 accounts not published SP Angel
10-Mar-15 GATE VENTURES PLC (GATE) cancelled - 23/07/2015 NOMAD resignation  Beaumont Cornish & Cornhill

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