China Tracker - Details for Fuqi International (FUQI)

 Fuqi International
 Basic Facts and History
Data Source: Annual Report for the period ended 2008-12-31
Reporting Type: U.S. Company (10-K Filings) 
Incorporation: Delaware 
Corporate Headquarters: China (Guangdong) 
Going Public: IPO on 2007-10-23 
IPO Price: $9.00 (-100.00% since IPO)
IPO Lead Underwriter: Merriman Curhan & Ford 
Main Operating Subsidiary: Shenzhen Fuqi Jewelry Co., founded 2001 
Investor Relations: Investor Relations Website 
Internal Controls: not effective 
Internal Controls Audit: not effective 
Auditor Opinion:

The following material weaknesses have been identified and included in management\\\'s assessment:

The Company did not maintain effective control over the period-end closing process. Specifically, due to the insufficient number of qualified resources, the Company was unable to timely and accurately complete its work needed to close its books and prepare financial statements in accordance with accounting principles generally accepted in the United States of America. This control deficiency resulted in significant amounts of audit adjustments to the Company\\\'s 2008 financial statements. In addition, this control deficiency could result in a material misstatement to annual or interim financial statements that would not be prevented or detected. Accordingly, management determined that this control deficiency constitutes a material weakness.

The Company did not maintain effective control over the revenue cycle with revenue recognition. The Company did not properly perform and follow the control procedures set forth in the revenue cycle. This control deficiency resulted in significant amounts of revenues not being recorded in the proper periods.

In our opinion, because of the effect of the material weaknesses described above on the achievement of the control objectives of the control criteria, the Company has not maintained effective internal control over financial reporting as of December 31, 2008. (Stonefield Josephson, Inc.)

This company is overdue with their latest quarterly or annual report! The Trading China Rating is suspended until the company is back in compliance with SEC filing rules.

This company has reported corporate governance issues. You may want to look further into possible issues before making an investment decision.

 
 Ownership

This company has a single majority shareholder!

Main Shareholder: Yu Kwai Chong (Chairman, CEO, President) 
Ownership: 51.30% 
 
 Auditor Trail (since January 1, 2009)
2010-10-01MarcumAppointment (Merger)
2010-10-01Stonefield JosephsonResignation (Merger)
2006-11-22Stonefield JosephsonAppointment
 
 Senior Management Trail (since January 1, 2009)
2011-06-17Kim K. T. PanCEOAppointment
2011-06-17Yu Kwai ChongCEOResignation
2007-08-30Ching Wan WongCFOAppointment
 
 Fiscal Year
Fiscal Year ends: December 31 
First Quarter 10-Q: due by 2018-05-15 
Second Quarter 10-Q: due by 2018-08-15 
Third Quarter 10-Q: due by 2017-11-15 
Annual Report 10-K: due by 2018-03-31 
FUQI
Retail/Consumer
SCORE
6
UNDER REVIEW
READ: Score Cards Explained
SAFETY/RISK SCORE
EXTREME RISK
DETAILS: Safety/Risk Model for FUQI
Current Price:  n/a
F10k Day (2007-10-23): -100.00%$10.47
2009 Close: -100.00%$17.95
2010 Close: -100.00%$6.38
2011 Close: -100.00%$1.15
High (2012-02-28): -100.00%$1.46
Low (2012-06-29): -100.00%$0.55
Exchange: N/A
Market Capitalization: n/a
Total Shares: 27.63 mill
Float: n/a
Avg Volume: n/a
Last Quarter: 2009-09-30
Revenue (MRQ): 127.19 mill
Net Income (MRQ): 18.79 mill
all financial data provided without warranty