Lost in the madness of 24 hour news coverage of Mean Irene, was the shocking downgrade on the 26th of August, of Zhongpin (HOGS), a Chinese pork processor and distributor, by notorious Chinese reverse merger schlock shop Global Hunter‘s Managing Director of China Research, Joe Giamichael. Shocking because Joe Giamichael had his own Ping Luo moment, defending scam YUII on the 15th of June. In an interview with Bloomberg, super analyst Giamichael fessed up that he esentially did no research at all, just believing the lies of outright crooks. Said Joe:
“I had taken for granted that those breeder-farm transactions took place. GeoInvesting did an excellent job.”
Now, just a few months later, have the folks at Global Pumper, former home of China Agritech (CAGC) cheerleader Ping Luo, finally seen the light? At least Giamichael has finally found a Chinese reverse merger company he doesn’t like, and it is HOGS. How filthy must HOGS be if even hear-no-evil, see-no-evil Joey G senses something is not right?
HOGS seems to be little more than a combination of fake asset purchases (a la YUII) and fake retail stores (shades of CHBT). Check out these articles by GeoInvesting here, and China Economic Review here and here. Alfred Little‘s report on HOGS is available as a PDF here.
HOGS started out as a shell called Strong Technical in 2004. By the end of March 2005, over 82% of the stock had been acquired by our longtime friends, the Halters. Catch up on the Halters here.
By the end of January 2006 a Chinese hog concern had been stuffed into the shell, creating the fat little pig with the memorable ticker HOGS.
Of course, Global Hunter’s Joe Giamichael still seems to have a buy rating on delisted, disgraced, and thoroughly debunked, Chinese reverse merger chicken fraud Yuhe Int’l (YUII) and scandalous Deer Consumer Products (DEER). Here is his coverage list, according to Bloomberg:
ALN American Lorain Co buy 6.00 08/29/11
SEED Origin Agritech Ltd neutral 08/29/11
HOGS Zhongpin Inc reduce 08/29/11
DEER Deer Consumer buy 12.00 08/29/11
YUII Yuhe International buy 16.00 07/11/11
The road to redemption is a slow one. Pity that the tolls are being paid by investors seduced by the sell side Siren songs from shops like Roth, Rodman and Global Pumper.