Sino Grandness

Sino Grandness: Apparently on 21 Oct when Sino Grandness' share price collapsed to its new 52-week low of $0.495, a short-sell report by Value Investors Club made its rounds in the market, citing negative statements relating to the sales and financial position of the company. The report, dated 4 Sep, valued the stock at $0.00. The company strongly rejects the baseless and unsubstantiated assertions made in the report, and adds that it will seek legal advice in the matter. Management insisted that the group is in a sound financial position and statements and accounting policies strictly follow and adhere to the Singapore Financial Reporting Standards. Meanwhile, on the day of the 11% fall in share price on Tuesday, CEO Huang Yupeng acquired 0.6m shares at an average $0.522/share to reaffirm his confidence in the company. Separately, Sino Grandness commenced production in its new juice facility in Hubei Province in China, which has a maximum production capacity of ~240k tons of juice per annum. This is expected to gradually reduce the group's outsourcing costs, as well as to better manage its own production volume. Bloomberg consensus has 2 Buys and 1 Hold rating, with 12-month TP of $0.84.