united food has requested for trading haltthe 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.)
quite sad about the recent scandals/rumors about chinese companies
Rumors said the Wang Tingjiang got financial crisis. and Unifood garanteed about 50mil debt for Wang. Wang Ting Bao, the director of Unifood is Wang's younger brother. And David Yip, another major shareholder of Unifood, is also very close to Wang Family. Unifood's parent company was held by Wang family, well know in Lin Yi, Shandong.
Sigh, had 4 lots of Unifood.
The fears about Chinese companies are going around. Many chinese companies are hit recently. Sigh. Really, dont want to touch chinese companies any more. stay away from them.
Huasing Association 1999 - 2013