"Today I received a copy of Felix Fok's latest piece on Chaoda Modern Agriculture. This is from JiAsia - in other words from Societe Generale. To quote:
Ji Asia is terminating coverage of Chaoda Modern Agriculture (Holdings) (682 HK, HK$1.10, Ji BUY, Target HK$10.50).The price on my screen is 55c but it is not trading any more.
The reason stated by Felix Fok is "following a realignment of resources within the team".
Chaoda is suspended for a reason: it is almost certainly a grotesque fraud.
The buy was a bad call. The dropping coverage: that was clearly the most useless call of the day."
JI-Asia is an independent research house, partnering Societe Generale:
For research houses and brokers it is apparently hard to digest a wrong call , they rather let the recommendation "disappear" than be honest about it.
Previous blogs about Chaoda can be found here: