GRAND POWER LOGISTICS GROUP INC. V.GPW

China scams: IPO vs RTO

[moneymaker75]

The biggest problem with these accusations of fraud against all Chinese companies is people don't even know what they are stereotyping againt. The Chinese frauds, including Sino-Forest have all been RTO transactions. 

https://www.forbes.com/sites/richardfinger/2013/10/29/finding-value-in-forsaken-chinese-reversetakeovers-rtos/

GPW is an IPO. That means the exchange went through all the diligence needed to prove that the business and the management team is legit. This is the link to the 2004 document that lists out GPW's IPO:

https://www.sedar.com/GetFile.do?lang=EN&docClass=9&issuerNo=00021040&fileName=/csfsprod/data49/filings/00671247/00000014/f%3A%5CMSM%5CSEDAR%5CGRAND%5CFINAL%5Cfinal.pdf

[G1945V]

I see that you make a good point . The example used in the article of a good RTO that seems to be ignored is KGJI (King Gold Jewelry Inc) . The article quotes the following:  With plenty of cash, growing book value, increasing sales, and more assets than total market capitalization, the executives announced that they would issue a dividend if needed to prove that financial filings were

[G1945V]

I stand corrected with KGJI ( King Gold Jewelry Inc) with respect to the stock not issuing dividends. They in fact issued a special dividend of 8 cents as announced on August 28, 2014. I did not want to mislead anyone. Kingold Jewelry Announces Payout of Previously Announced Special Dividend of US$0.08 Per Share