Qingmei

Latest news on Qingmei was 2 weeks back when the grp annouced its Fy12 results, with no dividends declared. While no one expect Qingmei to turn in a profits in Q4, the fact that no dividends is declared could cast more aspersions on this stock. Some market watchers have been casting potential red flags on the stock as follows: 1) CEO and founder start the ball rolling when he placed out his shares at a hugh discount (9%) from market price. 2) Then CFO resigned in december. 3) CEO make a u-turn about opting for scrip dividend to combination of cash and scrip. 4) Hunter fund start to offload their shares. 5) Independent director from audit committee resigns. (While the reason given seems valid, why the late announcement that resignation is with immediate effect, shouldn't company know about his promotion in the civil government earlier?) 6) No dividends payout despite profitability and strong cash flow from operations. Technically, stock is at an all-time low. Perharps support could be found at $0.05.