As of the time of publication, 90.7% of respondents to an online poll conducted by Sina.com. (Nasdaq: SINA) believe that ONP is committing fraud. (http://survey.finance.sina.com.cn/result/48540.html) The poll follows the publication of an article by the 21st Century Business Herald (“21CBH”), wh… more
Page 2 from the 21st Century Business Herald investigative article on Orient Paper, Inc. (ONP). To download the full report, check the box to agree with the Terms of Service and then click the "Download Report" button. Use of Muddy Waters LLC’s research is at your own risk. You should do you… more
Page 1 from the 21st Century Business Herald investigative article on Orient Paper, Inc. (ONP). To download the full report, check the box to agree with the Terms of Service and then click the "Download Report" button. Use of Muddy Waters LLC’s research is at your own risk. You should do you… more
Since Muddy Waters, LLC published its initial Strong Sell report on ONP on June 28th, 2010, in which we charge that ONP is a fraud, ONP has engaged in a rushed effort to cover up evidence that would prove our allegations to be true. To download the full report, check the box to agree with the Ter… more
As the battle over ONP continues this week, and investors continue to evaluate the two opposed views (e.g. ONP is worth less than $1 vs. ONP is worth $15+), Muddy Waters LLC suggests returning to two points that we raised in our initial report. These facts upon which we make these points are indispu… more
Yesterday we released a response to ONP’s press release stating that we had analyzed the wrong operating subsidiary. An article on TheStreet.com unethically reiterated this claim after we had already disproven it. The English name used to identify the entity is irrelevant in China – the Chinese name… more
Muddy Waters, LLC confirms that it reviewed the SAIC file for the correct Orient Paper, Inc. (“ONP”) entity. We stand by our statements of fact and conclusions. To download the full report, check the box to agree with the Terms of Service and then click the "Download Report" button. Use o… more
We are confident that ONP is a fraud. Its purpose is to raise and misappropriate tens of millions of dollars. Approximately $30 million has been misappropriated since October 2009. ONP overstated 2008 revenue by 27x. ONP overstated 2009 revenue by 40x. ONP's claims about its top 10 custome… more