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 Tracking 1050 U.S. listed China Stocks and Counting...
 Tracking 1535 U.S. Stocks and Counting...

China New Borun Corporation ("Borun") is a leading producer and distributor of corn-based edible alcohol in China. Borun's products are primarily sold as an ingredient to producers of 'Baijiu', a popular, grain-based alcoholic beverage that is sold throughout China in retail stores, bars, and restaurants. The Company also produces DDGS Feed and corn germ as by-products of edible alcohol production and is also involved in the process of constructing facilities to produce liquid carbon dioxide from waste carbon dioxide produced during the alcohol production process. China New Borun is based in Shouguang, Shandong Province

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Sticky8449 Addfavorites BORN
 

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Public11128 Addfavorites BORN
 

http://google.brand.edgar-online.com/displayfilinginfo.aspx?FilingID=8028671-10339-13953&type=sect&TabIndex=2&companyid=826751&ppu=%252fdefault.aspx%253fsym%253dBORN

I am really confused with this 6-k.

"Accordingly, in order to retain its existing audit team and minimize disruption, the Company’s Audit Committee has dismissed BDO Li Xin Da Hua and engaged BDO China Shu Lun Pan as its independent registered public accounting firm effective immediately. "

I recently heard from my friend who works in a big 4 in China that accounting fraud is rampant even in big four auditors. The public companies will hire you as their CFO if you can fudge the numbers for them for 2-3 years. The salary in the big 4 is very low, and working hours extremely long, so many people's solo incentive is to fudge the numbers and become a highly paid CFO. I am not sure how true this statement is, but I don't think my friend has any incentive to lie to me.

Public9341 Addfavorites BORN
 

Muscleman.. I have not shorted China New Borun (NYSE:BORN)... yet..

Public9326 Addfavorites BORN
 

So have you shorted this one, or bought the put options?

Today I looked at the September puts, and $7.5 put is over 1.6, and $10 put is over 3. That is way too expensive to justify a good risk/reward ratio.

Public9323 Addfavorites BORN
 

I will pass this on to Bob

Public9275 Addfavorites BORN
 

And I don't use margin accounts to do direct short positions, so I have to way aside.

I searched in Baidu.com, and couldn't find anything related to its product, so Alfred Little is most likely correct, sales in the black market.

And here is another possibility: They are making fake baijiu.

http://bbwdm.cn/show_info.asp?id=350583

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