West China cement entraps financial claim affair

West China cement entraps financial claim affair

A industrial vibratory feeder is an instrument that uses vibration to "feed" material to a process or machine. Vibratory feeders use both vibration and gravity to move material. Gravity is used to determine the direction, either down, or down and to a side, and then vibration is used to move the material. They are mainly used to transport a large number of smaller objects.
Shares in mainland cement maker West China Cement Ltd (2233.HK) fell as much as 16 percent on Thursday following a report by a U.S.-based short-seller accusing the firm of fabricating its financial statements.

West China Cement, the latest Chinese company to be targeted by short-sellers, said the report by California-based Glaucus Research Group was groundless and was based on inaccurate data.
"The report adopted a very general approach to its analysis of the group's bank balance and this is clearly misleading," the company said.

Smooth vibration, reliable operation, long service life, low noise, low power consumption, easy to adjust, simple structure, easy to install, light weight, small volume, simple maintenance.
West China Cement, which had a market value of $774 million before trading began, closed down 1.5 percent on Wednesday morning ahead of a trading suspension. The stock was last down 8.5 percent at HK$1.19 at 0138 GMT.

Deloitte Touche Tohmatsu, which was appointed earlier this year as the auditor for West China Cement, was closely monitoring developments, Deloitte China said.

Vibrating feeder works to continously and evenly feed lump, particle and powdered materials from hopper to belt conveyer, bucket elevator, screens and crushing machines, etc. Stepless regulation is available for Hongxing's vibrating feeder to automatically and centrally control the feeding volume. Hongxing vibrating feeder can provide ores and rocks within 500mm for the next working procedure.
A spate of accounting scandals at U.S.-listed Chinese companies has made auditors more alert to the risk of financial irregularities and the consequences for them if they're found to be negligent.

Italian cement maker Italcementi (ITAI.MI) agreed in May to acquire a 6.25 percent stake in West China Cement as the group moved to strengthen its position in the world's largest building materials market. Earlier this week, shares of Nu Skin Enterprises Inc (NUS.N) fell as much as 12 percent after short-seller Citron Research published a report alleging that the personal-care ball mill products maker was operating an illegal multi-level marketing scheme in China.