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 Tracking 1050 U.S. listed China Stocks and Counting...
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Became an operating entity via SPAC transaction with Jinjiang Hengda Ceramics Co., Ltd.

Jinjiang Hengda Ceramics Co., Ltd.

Hengda Ceramics is a leading Chinese manufacturer of ceramic tiles used for exterior siding and for interior flooring and design in residential and commercial buildings. The ceramic tiles, sold under the “HD” or “Hengda” brand are available in over two thousand styles, colors and size combinations and are distributed through a network of thirty three exclusive distributors and directly to large property developers. Hengda currently has one production facility with nine manufacturing lines in Jinjiang with an annual capacity of 28 million square meters of ceramic tile and is building, in phases, a twelve line production facility in Gaoan that will have an annual capacity of 42 million square meters of ceramic tiles by the end of 2011. Phase one, which consists of three production lines, is expected to be completed in September 2009. The estimated proceeds from the merger will be utilized to reduce debt associated with this facility. Hengda’s stringent quality management and marketing efforts have created a strong business reputation and high brand awareness as demonstrated by the company receiving recognition from the Central Chinese Government of the coveted “Chinese Well-Known Mark” award. Hengda’s commitment to R&D recently resulted in the development of a new ultra-thin line of products and the company has already been granted 33 design patents and 4 utility patents in China. Although approximately 95% of Hengda’s products are sold domestically, the company has exported products to Japan, Russia, Eastern Europe, South Korea, United Kingdom, Australia, Thailand, Spain, Turkey and Egypt.

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Sticky8786 Addfavorites CCCL
 

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Public11299 Addfavorites CCCL
 
CCCL presented today at the GH conference in CA. Have you guys attended this conference? There was a ton of other CGS companies as well. Thanks
Public4885 Addfavorites CCCL
 

I sold out of this. I sent an email to the company and got a response from Ed Job that the board didn't want to publicize the SAIC filings. I got into this company partly based on its reputable auditor and nice website, but Ed's response concerned me. Plus, there's the possibility of substantial dilution in the future due to some contingent stock agreements with the controlling shareholder, and I didn't feel that comfortable with the real estate exposure.

I was hoping that, as a newly uplisted stock, this might go through that drive upwards. But I think it already did and I'm not sure where it's going in the future. It doesn't seem liquid enough to attract a lot of interest.

Public4838 Addfavorites CCCL
 

This will be great news.

 I will have to contact the company on Monday. It would be nice if the auditor could make a statement.   Many short investors have contended that a SPACs are legit.  I will issue an alert and write a small note if I can verfiy.

Maj

Public4828 Addfavorites CCCL
 
Actually, I got the response back from their IR guy Ed Job. And he said it was reviewed by legal counsel and the NASDAQ, not the auditor. Still, it's a decent auditor. I'll ask them if they can make this confirmation more publicly.
Public4824 Addfavorites CCCL
 

Lazycritic,

Please ask the CFO to publish a Press Release confirming this. Certainly will help for better valuation.

 

Xantu

Public4822 Addfavorites CCCL
 

I contacted the company and Edmund Hun said the SAIC financials were reviewed by NASDAQ and their auditor who confirmed that they could be reconciled with the SEC financials.

I'm long this stock.

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