China built a $94 billion megacity from scratch in 7 years. They turned the corn fields into a metropolis three times the size of New York City. It has a train station the size of 88 football fields. But it's completely empty. This is why no one wants to live in President

Who knew?

Why would Sum raise US$5.6bn whilst reporting net cash and free cash inflows? Well, it's not really generating free cash inflows or in a net cash position. Our Jan report speculated it would raise US$10bn to bring adjusted net debt down from 209%, to 100% of equity, in the

From the FT. This should come as no surprise: Only 0.6% of offshore debt recovered from China’s property developers: ft.com/content/673295…

This is why tracking director resignations is so important: Differ Group (6878.HK) is down 100% since three directors resigned in August 2022. Of course, they all cited the pursuit of "other business opportunities" but, hey, they voted with their feet...

We estimate that over 40% of the FY21 revenues (the time of its IPO) of Chinese AI company, SenseTime (20.HK), were subsequently impaired. But does anyone really care? Seemingly not its auditor PwC (yes, them again), nor the regulator...

China Tianrui Cement’s (1252.HK) new auditor, Zhonghui Anda, checking consolidation adjustments, prepayments and cash. We suspect the worst... www1.hkexnews.hk/listedco/listc…

Kuaishou Tech (1024.HK) loses indy director dubbed the "Goddess of Tsinghua University" after 18 months due to "other business commitments". We don't like the accounting at Kuaishou and her resignation is not good news for the company...

Philippine funeral company, Golden MV (HVN.PM), a US$27bn mkt cap company, suspended for failing to file FY24 financials. Trades on 380x price to sales...yes, that's right. Bubble stock...

Chiina Vanke (2202.HK) becoming a zombie...

Australia's Corporate Travel (CTD.AU) having a tussle with its auditor... could get interesting

If you think there are problems in the US, this is a US$5tn industry in China: Jefferies among private credit investors exposed to US auto company invoices ft.com/content/9be3b6… via @ft

This won't end well...

Nidec (6594 JP) has an accounting problem...

A US$12bn Chinese pharma company with no revenues... TransThera Sciences (2617.HK). Up 13x in the 3 months since its June 2025 IPO. Lost 60% of its value yesterday but up 20% today. What could go wrong?

Regulatory warning on shareholder concentration leads to 70% share price collapse in Shandong Hi-Speed (412.HK).