"Fish in Troubled waters" to be hunted again by China's high-speed channel

February 4, 2011, China's high-speed channel (ccme,13.89,+25.25%) yesterday slightly higher, once consolidation, in the United States 13:00 began a straight fall, the closing down 33.23%, reported 11.09 U.S. dollars, turnover 21.61 million, after continuing to fall 0.90 %。　　, Muddy Waters, a research firm, rated the "strong sell" rating for China's high-speed channel for its financial fraud, with a target price of 5.28 dollars.　　Muddy Waters accuses China's high-speed channel of deliberately creating false revenues and inflated profits, so that management can make a big profit and sell at a high level.　　While China's high-speed channel released its 2009 revenue figure of $95.9 million trillion, Muddy waters estimates its real revenue in 2009 was only $17 million. Ccme said its main business was to use intercity bus-mounted television for media advertising, and Muddy Waters said Ccme had less than half the advertised number of cars in the car. "We believe that more than half of the buses that CCME have the right to advertise do not play the contents of the CCME," Muddy waters in the report.　　"In addition, Muddy Waters accuses CCME of managing fraud, saying Ccme has built an online shopping platform and signed a cooperation agreement with Apple (aapl,346.50,+0.89%) or Apple dealers." "Apple has confirmed to us that it has not reached any partnership with CCME," Muddy Waters said. Not only that, Apple is extremely strict in China, with only two authorised dealers in China and no redistribution license.　　"Lena Cati, who is responsible for CCME investment relations, has not commented on the matter at this time.　　At the same time, Muddy Waters said it is currently empty of China's high-speed channel stock and will make a big profit from its slump. Muddy Waters has been blamed for the financial cost of China's U.S.-listed companies, Oriental Paper (onp,5.10,0.00%) and Rino Technology (rino,2.59,+3.19%), with two of its shares tumbling over the cost of a suspect,　　Green Connaught Technology for financial fraud and free November 17, 2010 was suspended, and December 9 to go to the powder market.　　A few weeks ago, Citron Research, another researcher, also said similar questions to CCME, saying it was opaque to documents presented to Chinese regulators, credit rating agencies and financial analysts, and that its business data did not reflect the status of its companies. After the Citron study questioned the report, CCME issued a statement saying it strongly opposed the citron and tried to persuade investors to continueBelieve that the company submitted documents to the SEC authenticity.