On September 4, according to Hong Kong’s Oriental Daily News, mainland companies were repeatedly attacked. After an anonymous analysis of Tianhe Chemical (01619) issued a short-selling report, casing manufacturer Shenguan Holdings (00829) was also attacked by research firm Emerson Analytics. During the raid, six major doubts were raised on the accounts of Shenguan Holdings, claiming that Shenguan's share price was only worth 1.1 yuan, which was 59.4% lower than the price of 2.71 yuan before the suspension of trading yesterday. Shenguan Holdings suspended trading at 1:27 pm yesterday. The suspension was 3.21% lower than the previous day's closing price of 2.8 yuan. The single-day market value evaporated by about 299 million yuan, a full-day low of 2.7 yuan, a record low in a year.

Data shows that in August, Shenguan Holdings recorded a total of five short-selling ratios of more than 50%. Among them, on August 12, the number of short-selling shares reached 1.602 million shares and the short-selling ratio reached 68.62%. Emerson Analytics recently published a 43-page report, alleging that Shenguan, which went public in 2009, concealed raw material costs and exaggerated sales.

Shenguan suspended trading yesterday and issued a notice stating that an announcement of inside information is pending.

In April this year, Emerson Analytics attacked Lumena Advanced Materials (00067), which was also listed in 2009, and even believed that Lumena Advanced Materials would eventually be "delisted". The relevant report is also forty-three pages. Lumena Advanced Materials has been suspended from trading midway on March 25 this year, and is doing its best to announce last year’s results before the end of November this year. Lumena Advanced Materials will continue to suspend trading until a clarification announcement on the Emerson Analytics research report is issued, and last year Until the results announcement.
Shenguan Holdings just announced its interim results as of the end of June this year. The half-year net profit decreased by about 8.63% year-on-year to 278 million yuan. However, it still paid an interim dividend of 4.3 HK cents and a special dividend of 3.2 HK cents. The dividend payout ratio increased to 71.1. %. The performance report mentioned that the gross profit margin fell to 54.9% in the first half of the year, mainly due to the sale of old formula products at discounts, and the increase in labor salaries and benefits reduced the average selling price. As the inventory of old products was generally sold out during the period, the average selling price has rebounded in June. It is expected that the gross profit margin will improve in the second half of this year.

Ovation	Woodward	Hima
5X00167G01	5464-210	CPU01
IC31224G01	SST-PFB-PLC5	B5322
DETECTION	SST-PFB3-PCI	BV7032-0
7379A21G02	SST-PB3-VME-1	BV7040-4
7379A21G01	SST-PB3-PCU-2	BV7046-4
5X00790G01	SST-PB3-PCU	F1101
5X00717G01	SST-PB3-CLX	F1DI1601
5X00658G01	SST-ESR2-CLX	F2201
5X00489G01	SST-DN4-104-2	F2DO1602
5X00481G01	SST-DN4-102-2	F2DO8 01
5X00419G02	SST-DN3-PCU-2-E	F3113A