<?xml version="1.0" encoding="UTF-8" standalone="yes"?><oembed><version><![CDATA[1.0]]></version><provider_name><![CDATA[Glenn Chan&#039;s Random Notes on Investing]]></provider_name><provider_url><![CDATA[https://glennchan.wordpress.com]]></provider_url><author_name><![CDATA[GlennC]]></author_name><author_url><![CDATA[https://glennchan.wordpress.com/author/glennchan/]]></author_url><title><![CDATA[Chinese companies with poorly executed&nbsp;websites]]></title><type><![CDATA[link]]></type><html><![CDATA[<p>For whatever reason, some Chinese companies listed on foreign exchanges have bad websites.</p>
<p>For example, Yongye links to a press release put out by ambulance-chasing lawyers targeting Yongye.</p>
<p><a href="https://glennchan.files.wordpress.com/2014/06/yongye-links-to-ambulance-chasing-lawyers.png"><img data-attachment-id="3223" data-permalink="https://glennchan.wordpress.com/2014/06/17/chinese-companies-with-poorly-executed-websites/yongye-links-to-ambulance-chasing-lawyers/" data-orig-file="https://glennchan.files.wordpress.com/2014/06/yongye-links-to-ambulance-chasing-lawyers.png" data-orig-size="670,823" data-comments-opened="1" data-image-meta="{&quot;aperture&quot;:&quot;0&quot;,&quot;credit&quot;:&quot;&quot;,&quot;camera&quot;:&quot;&quot;,&quot;caption&quot;:&quot;&quot;,&quot;created_timestamp&quot;:&quot;0&quot;,&quot;copyright&quot;:&quot;&quot;,&quot;focal_length&quot;:&quot;0&quot;,&quot;iso&quot;:&quot;0&quot;,&quot;shutter_speed&quot;:&quot;0&quot;,&quot;title&quot;:&quot;&quot;}" data-image-title="yongye-links-to-ambulance-chasing-lawyers" data-image-description="" data-medium-file="https://glennchan.files.wordpress.com/2014/06/yongye-links-to-ambulance-chasing-lawyers.png?w=244&#038;h=300" data-large-file="https://glennchan.files.wordpress.com/2014/06/yongye-links-to-ambulance-chasing-lawyers.png?w=670" class="alignnone wp-image-3223 size-medium" src="https://glennchan.files.wordpress.com/2014/06/yongye-links-to-ambulance-chasing-lawyers.png?w=244&#038;h=300" alt="yongye-links-to-ambulance-chasing-lawyers" width="244" height="300" srcset="https://glennchan.files.wordpress.com/2014/06/yongye-links-to-ambulance-chasing-lawyers.png?w=244&amp;h=300 244w, https://glennchan.files.wordpress.com/2014/06/yongye-links-to-ambulance-chasing-lawyers.png?w=488&amp;h=600 488w, https://glennchan.files.wordpress.com/2014/06/yongye-links-to-ambulance-chasing-lawyers.png?w=122&amp;h=150 122w" sizes="(max-width: 244px) 100vw, 244px" /></a></p>
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<p>The events section on its website is also horribly outdated.  The last event listed is from 2011, even though Yongye continues to hold earnings conference calls.</p>
<p><a href="https://glennchan.files.wordpress.com/2014/06/yongye-outdated-website.png"><img data-attachment-id="3224" data-permalink="https://glennchan.wordpress.com/2014/06/17/chinese-companies-with-poorly-executed-websites/yongye-outdated-website/" data-orig-file="https://glennchan.files.wordpress.com/2014/06/yongye-outdated-website.png" data-orig-size="686,878" data-comments-opened="1" data-image-meta="{&quot;aperture&quot;:&quot;0&quot;,&quot;credit&quot;:&quot;&quot;,&quot;camera&quot;:&quot;&quot;,&quot;caption&quot;:&quot;&quot;,&quot;created_timestamp&quot;:&quot;0&quot;,&quot;copyright&quot;:&quot;&quot;,&quot;focal_length&quot;:&quot;0&quot;,&quot;iso&quot;:&quot;0&quot;,&quot;shutter_speed&quot;:&quot;0&quot;,&quot;title&quot;:&quot;&quot;}" data-image-title="yongye-outdated-website" data-image-description="" data-medium-file="https://glennchan.files.wordpress.com/2014/06/yongye-outdated-website.png?w=234&#038;h=300" data-large-file="https://glennchan.files.wordpress.com/2014/06/yongye-outdated-website.png?w=686" class="alignnone size-medium wp-image-3224" src="https://glennchan.files.wordpress.com/2014/06/yongye-outdated-website.png?w=234&#038;h=300" alt="yongye-outdated-website" width="234" height="300" srcset="https://glennchan.files.wordpress.com/2014/06/yongye-outdated-website.png?w=234&amp;h=300 234w, https://glennchan.files.wordpress.com/2014/06/yongye-outdated-website.png?w=468&amp;h=600 468w, https://glennchan.files.wordpress.com/2014/06/yongye-outdated-website.png?w=117&amp;h=150 117w" sizes="(max-width: 234px) 100vw, 234px" /></a></p>
<p>At least Yongye paid for its stock photography.</p>
<p><a href="https://glennchan.files.wordpress.com/2014/06/stock-photography-fail.png"><img data-attachment-id="3225" data-permalink="https://glennchan.wordpress.com/2014/06/17/chinese-companies-with-poorly-executed-websites/stock-photography-fail/" data-orig-file="https://glennchan.files.wordpress.com/2014/06/stock-photography-fail.png" data-orig-size="961,454" data-comments-opened="1" data-image-meta="{&quot;aperture&quot;:&quot;0&quot;,&quot;credit&quot;:&quot;&quot;,&quot;camera&quot;:&quot;&quot;,&quot;caption&quot;:&quot;&quot;,&quot;created_timestamp&quot;:&quot;0&quot;,&quot;copyright&quot;:&quot;&quot;,&quot;focal_length&quot;:&quot;0&quot;,&quot;iso&quot;:&quot;0&quot;,&quot;shutter_speed&quot;:&quot;0&quot;,&quot;title&quot;:&quot;&quot;}" data-image-title="stock-photography-fail" data-image-description="" data-medium-file="https://glennchan.files.wordpress.com/2014/06/stock-photography-fail.png?w=300&#038;h=141" data-large-file="https://glennchan.files.wordpress.com/2014/06/stock-photography-fail.png?w=961" class="alignnone size-medium wp-image-3225" src="https://glennchan.files.wordpress.com/2014/06/stock-photography-fail.png?w=300&#038;h=141" alt="stock-photography-fail" width="300" height="141" srcset="https://glennchan.files.wordpress.com/2014/06/stock-photography-fail.png?w=298&amp;h=141 298w, https://glennchan.files.wordpress.com/2014/06/stock-photography-fail.png?w=597&amp;h=282 597w, https://glennchan.files.wordpress.com/2014/06/stock-photography-fail.png?w=150&amp;h=71 150w" sizes="(max-width: 300px) 100vw, 300px" /></a></p>
<p>In general, I suspect that there may be a correlation between the quality of a website and the subsequent stock performance.  QXM/XING for example stopped updating its website a few years before the stock went to 0.</p>
<p><em>*Disclosure:  Shorting YONG via put options.  I have no position in the common stock.  Short CXDC common.</em></p>
<h4><strong>Links</strong></h4>
<p><a title="Chinese stocks and ICP numbers" href="https://glennchan.wordpress.com/2013/12/29/chinese-stocks-and-icp-numbers/">Chinese stocks and ICP numbers</a></p>
<p>The Bronte Capital blog has <a href="http://brontecapital.blogspot.ca/2010/09/travelling-through-china-with-universal.html">a very interesting post about how UTA&#8217;s website did not work</a>.  The stock is now defunct.</p>
<p>EDIT (1/23/2015): My current <em>theory</em> is that the same group of people are behind all of these companies.  That could be why the websites are of similar quality.</p>
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