CHINA TRACKER - BUSINESS OUTLOOK UPDATES

2012-09-30XINGF Qiao Xing Universal Resources

COVERAGE TERMINATED (Going Dark)
Recent Chain of Events:
2012-08-23 -- SEC Registration REVOKED
2012-06-15 -- Delisting from NASDAQ
2012-04-16 -- Trading halted by NASDAQ
2012-01-19 -- Auditor Change
2011-12-01 -- Last Quarterly/Annual Report: Q2/FY2011 ended June 30, 2011

(Source: Trading China, 2012-09-30)
 
2012-09-30YUII Yuhe International

COVERAGE TERMINATED (Going Dark)
Recent Chain of Events:
2012-07-26 -- Last SEC Filing
2012-07-20 -- CFO Resignation
2011-08-10 -- Auditor Engagement
2011-07-21 -- Delisting from NASDAQ
2011-06-17 -- Trading halted by NASDAQ
2011-06-17 -- Auditor Resignation
2011-05-16 -- Last Quarterly/Annual Report: Q1/FY2011 ended March 31, 2011

(Source: Trading China, 2012-09-30)
 
2012-09-30YYINE Yayi International

Recent Chain of Events:
2012-08-15 -- Last SEC Filing
2012-04-13 -- CFO Resignation
2012-02-14 -- Last Quarterly/Annual Report: Q3/FY2012 ended December 31, 2011

(Source: Trading China, 2012-09-30)
 
2012-09-27CHME China Medicine

On September 26, 2012, the board of directors of China Medicine Corporation voted in favor of pursuing voluntary deregistration of the Company's common stock. The Company intends to file a Form 15 on or about October 4, 2012.

(Source: 8-K Filing, 2012-09-27)
 
2012-09-13LPH Longwei Petroleum

Longwei anticipates the completion of the approximately $110.9 million asset purchase of Huajie Petroleum as soon as possible based on the Company's working capital management. The Company is currently negotiating potential financing opportunities, which may allow Longwei to accelerate the closing and provide additional working capital to shorten the ramp-up time for operations. Longwei expects to continue to expand its customer base by utilizing the Company's distribution platforms. The Company's strategy is to leverage its customer and supplier relationships to develop additional business. Management may also look for opportunities to expand its business that are considered accretive to earnings.

"We continue to capitalize on the growing domestic demand for petroleum products in China and expect strong top-line and bottom-line results in fiscal 2013. The pending addition of the Huajie Petroleum facility in northern Shanxi Province will provide an additional catalyst for growth in the quarters ahead. On September 11, 2012, China's National Development and Reform Commission increased gasoline prices by 6.1 percent and diesel prices by 6.5 percent per metric ton due to rising international crude oil prices. The adjustment will enable us to raise prices on our petroleum products, which we believe will strengthen our revenues and profit margins. By carefully managing our inventory levels in line with oil price fluctuations, and continuing to execute our business strategy, we expect improved shareholder value over the long term."

(Source: PR Newswire, 2012-09-13)
 
2012-09-05CSKI China Sky One Medical

The U.S. Securities and Exchange Commission charged China Sky One Medical and its chief executive with securities fraud and said the company recorded fake sales of a weight loss product. China Sky One inflated revenues in its financial statements by booking $19.8 million in phony export sales, the SEC said.

The company, based in China, said in 2007 securities filings it had entered into a distribution agreement with a Malaysian company that would generate the sales, but never entered into such an agreement, the SEC said on Tuesday.

(Source: Reuters, 2012-09-05)
 
2012-08-23TUDO Tudou Holdings

Youku Tudou Inc. and Tudou Holdings Limited today announced the completion of the merger between Tudou and Two Merger Sub Inc., a wholly owned subsidiary of Youku. ... As a result of the Merger, Tudou has become a wholly owned subsidiary of Youku. Youku’s name was changed from "Youku Inc." to "Youku Tudou Inc." at the effective time of the Merger.

Under the terms of the Merger Agreement ... each Tudou ADS representing four Tudou Class B ordinary shares issued and outstanding immediately prior to the effective time of the Merger has been surrendered in exchange for the right to receive 1.595 Youku American depositary shares, each representing 18 Youku Class A ordinary shares. Trading of Tudou ADSs on the Nasdaq Global Market will be suspended beginning on August 24, 2012.

(Source: PR Newswire, 2012-08-23)
 
2012-08-23YOKU Youku Tudou

Youku Tudou Inc. and Tudou Holdings Limited today announced the completion of the merger between Tudou and Two Merger Sub Inc., a wholly owned subsidiary of Youku. ... As a result of the Merger, Tudou has become a wholly owned subsidiary of Youku. Youku’s name was changed from "Youku Inc." to "Youku Tudou Inc." at the effective time of the Merger.

Under the terms of the Merger Agreement ... each Tudou ADS representing four Tudou Class B ordinary shares issued and outstanding immediately prior to the effective time of the Merger has been surrendered in exchange for the right to receive 1.595 Youku American depositary shares, each representing 18 Youku Class A ordinary shares. Trading of Tudou ADSs on the Nasdaq Global Market will be suspended beginning on August 24, 2012.

(Source: PR Newswire, 2012-08-23)
 
2012-08-14KNDI Kandi Technologies

We are delighted that we solidly grew our revenue. The sales of ATV and go-kart will continue with the high growth. The EV sales have begun to boost as the strong government support and our brand and technologies of pure EV started to be introduced in Jinhua, Hangzhou and other potential cities throughout China. We are very excited by the growing momentum for the EV demand and continue to see strong growth from ATV and go-kart sales. We will continue to work diligently with the regional government and industry partners to expand our EV sales distribution and network. With cooperative letters of intent we have signed recently, we are confident about the future growth of our EVs and becoming the leader in this market.

(Source: Marketwire, 2012-08-14)
 
2012-07-24CKGT China Kangtai Cactus

We are currently working on completing our 10-K filing with the SEC for fiscal year 2011 and our 10-Q filing for the first quarter of 2012. We do not yet have specific dates when this will be completed, but the work is well under way. Our business is running well and we believe current indications are we are headed toward a good year in 2012.

(Source: Business Wire, 2012-07-24)