Qiao Xing Mobile Communication Co., Ltd. (NASDAQOTH:QXMCF)

CAPS Rating: 2 out of 5

The Company is a domestic manufacturer of mobile handsets. It manufactures and sells mobile handsets based on Global System for Mobile Communications, or GSM, global cellular technologies.

Recs

3
Player Avatar jsbalaban (57.93) Submitted: 10/25/2008 11:54:01 AM : Underperform Start Price: $2.15 QXMCF Score: +15.61

Anyone who invests in QXM or XING surely has brain damage. Their management is completely inbred, with Wu's sons, and other family members throughout the chain. They also have the worst transparency record of any Chinese company I can think of. From their current price level they may appreciate, but only because the stock is so cheap, but in the long run, they will underperform most other issues based on their poor and dishonest management. Wu is also "in bed" with DKR Capital Management, a very dishonest and unethical hedge fund. As per one of their new, non-family executives, I've been told that there have been "way too many transactions between XING/QXM and DKR." And when you look back over the filings, Wu literally gave away tens of millions in share holder value to this company. A SEC investigation would surely uncover illegal activity. This is one stock to stay well clear of!

James B

James B

Report this Post 2 Replies
Member Avatar walt373 (99.87) Submitted: 1/10/2009 10:07:37 PM
Recs: 0

This company is way too shady to invest in. It seems like all their financials are unaudited and they even issued new convertible bonds in May 2008. With all the cash they supposedly have, why would they do that? Just remember, if it seems to good to be true, it probably is...

Member Avatar rijoker (98.84) Submitted: 6/17/2009 1:35:34 PM
Recs: 0

Good points, I have been reading some things about the Wu family in a few message boards and believe this to be very interesting info and of concern. I do have a stake in QXM and plan to dig deeper to see what I can validate on this. If you have links to any info concerning this, can you please share?

Featured Broker Partners


Advertisement