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China Huishan Dairy Holdings Co Ltd

China Huishan Dairy Holdings Co Ltd

China Huishan Part 2: Tax Bureau Evidence of Topline Fraud

December 18, 2016

In Part 1, we explained our conclusions that Huishan fraudulently inflates its profit margins, CapEx, and cash balance. In Part 2, we will detail our conclusion that Huishan’s reported revenue is also fraudulent. VAT data from the State Administration of Taxation (“SAT”) show that Huishan reports a… more

China Huishan Dairy Holdings Co Ltd

MW is Short China Huishan Dairy Holdings Co Ltd (6863:HK)

December 15, 2016

PART 1 We are short China Huishan Dairy Holdings (6863 HK / “Huishan”) because we believe it is worth close to Zero. We conclude Huishan is a fraud. In this first report on Huishan, we detail the following conclusions and supporting facts. Since at least 2014, the company has reported fraudu… more

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