the price is severely hit. however, there is no further announcement with regard to why this has happened.

in the event that the price depression is largely, or possibly solely, due to the prevalent fear of "another" Chinese company with poor corporate governance structure, then, on assurance that the company is and will continue to be essentially intact financially, the prcie will rebound.

now we pray that that all news related to U food have no tangible financial impact on the company's book and prospects. We pray independent directors could come and rescue the situation.

Who dare to buy now? Man got guts...


(The above statement is a personal opinion and is based on no reports or whatsoever information channel.)

"and Unifood garanteed about 50mil debt for Wang"

as per the announcement by United Food's board just now (in SGX), that Wang (elder) has no interest in, relation with or managerial control over United Food. Therefore, it is not possible for him to get a 50mil loan.

Please specify ur source.

1) the company's shareholding, as per 2003 Dec 31st, is as follows:

a) 43.46% by Chinese Glory Investments Limited, which is held by David Yip Wai Sun and Wang Tingbao (to be explained later);

b) 4.51% by Wang Tingbao;

c) 50.89% by the public.


2) Chinese Glory Investments Limited is held 70% and 20% by David Yip and Wang Tingbao (directly or indirectly), which resulted in their deemed interest in United Food.

3) Therefore, United Food should not have a parent company (even it has, it should be controlled by David Yip and Wang Tingbao, i.e. de facto control).

4) Wang Tingjiang shall have nothing to do with the management of the company; however, he is a related party of Wang Tingbao; thus, his transactions with the company shall be disclosed in the annual report (none in 2003, for this year, amount not exceeding 54m RMB will not be disclosed so far).

5) Had the Company hidden any information about such transactions in 4), there will be a penalty on the management of the Company.

6) IF 5) is true, the Company's directors have not only failed to disclose material information, but will also face the investigation of insider trading due to this morning's heavy selling of shares.

Please note that this is the result of personal researches.