YHGG is a stock that came across my desk recently. I won't take credit for the idea, but all ideas have to come from somewhere and this one came from a from a friend. At first glance it looks to good to be true, so I did all the HW I could before presenting it here:
finance.yahoo.com
Based on the latest statement it sells at a PE of 2.5 and has tangible net worth of $7.5 a share.
According to the latest filings the Co. is no longer required to file. See Sept. 6, 2006 Filing
sec.gov
According to a filing on Jan 9, 2006, the Co. engaged Malone and Bailey as CPA . It’s a reputable firm in Texas.
Looks like e restructured entity that came out of NICHOLAS INVESTMENT CO INC
Starting to look interesting.
I found a website on them.
yashenggroup.com
The latest PR has a more recent financial statement.
pinksheets.com
At least this website has a 2006 statement (unaudited).
yashenggroup.com
The company owns 365M shares of Ganshu YaSheng Industrial, which is publicly traded in China. Gansu closed trading today at $8.14/share, valuing YHGG's stake at $3bil = over $18/per YHGG share
finance.google.com
The website remains poor in terms of full disclosure, but based upon what is there, looks like a reasonable speculation. I took a position today. May have to sit on it a while, but you never know. If the numbers are true, this is a ground floor bargain. If it's all a hoax and lie, which I doubt, then its the bargain of the century. |
