Not with a bang, but with a whimper, Rodman to shut Chinese “research” group.

According to a mid-day report from Bloomberg, famed PIPE shlock shop Rodman & Renshaw is shutting down its Chinese equity “research” group.

Oct. 14 (Bloomberg) — Rodman & Renshaw expected to close research operations in China-based stocks as interest deteriorates, DJ said, citing a person familiar.
• Rodman to make announcement Monday: DJ • Rodman didn’t immediately comment to DJ

One of Rodman’s chief Chinese stock pumpers analysts is Amit Dayal, who does not have a single sell recommendation in his entire active coverage list, which includes familiar names ABAT, a bunch of Westpark Capital WRASPs, Ping Luo favorite SinoHub, and AutoChina. Here is the complete list, according to Bloomberg:

SINA    US    Sina Corp/China    market perform         09/30/11
MBT    AU   Mission NewEnergy    market perform         09/15/11
FTLK   US    Funtalk China Hold    market outperform    10.00    08/25/11
ABAT  US    Advanced Battery T    market perform         08/22/11
CDII     US    China Direct Indust    market outperform    3.00    08/22/11
CREG  US    China Recycling En    market outperform    6.00    08/19/11
NEWN US    New Energy System    market outperform    6.00    08/19/11
CXDC  US    China XD Plastics C    market outperform    10.00    08/18/11
SORL   US    SORL Auto Parts In    market outperform    10.00    08/17/11
AMCF  US    Andatee China Mari    market perform         08/16/11
SIHI     US    SinoHub Inc    market perform         08/15/11
NFEC   US    NF Energy Saving C    market perform         08/15/11
HPJ      US    Highpower Internat    market outperform    4.00    08/12/11

CNIT    US    China Information     market perform         08/11/11
ZSTN   US    ZST Digital Network    market outperform    14.00    08/04/11
AUTC  US   AutoChina Internati    Under Review         07/01/11

If you think that list is bad, here are some of the companies where Dayal dropped coverage:

CAAS    US    China Automotive S    dropped coverage         06/09/11
POWR   US    PowerSecure Intern    dropped coverage    15.00    05/06/11
DGW     US    Duoyuan Global Wa    dropped coverage         05/04/11
WATG  US    Wonder Auto Techn    dropped coverage         04/29/11
CBEH   US    China Integrated En    dropped coverage         04/29/11
CHNG   US    China Natural Gas     dropped coverage         04/11/11
ASTI      US    Ascent Solar Techn    dropped coverage         04/11/11
CALI      US    China Auto Logistic    dropped coverage         01/10/11
RINO     US    RINO International     dropped coverage         12/31/10

While this is probably bad news for Amit and his co-workers, the end of the Chinese equity research charade should be good news for Rodman clients suckers. This also means the likely end of Rodman fundraising efforts for Chinese names. And if a bucket shop like Rodman won’t bank them, who will?

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