UK 10:26 Wednesday, 7 October 2026
Breaking news and expert analysis on fast-moving AIM and LSE listed shares
Disclosure: I have no positions in any stocks mentioned, and no plans to initiate any positions within the next 72 hours. I wrote this article myself, and it expresses my own opinions. I am not receiving compensation for it (other than from ShareProphets). I have no business relationship with any company whose stock is mentioned in this article.
Jiasen International (JSI) a company making wooden doors which claims to be able to buck all macro economic trends and operates in the fraud hotspot of Fujian province China has noticed that its share price has collapsed to just 19p - down from a July 2014 IPO at 82p.
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Comments
alcira16247
Tom
Jiasen International ……. Your dead right about this one, too! A dog of the first order! Its hard to know were to start on this POS!
Its listing on AIM, in the first place, the companies declared reason :-
“The Directors believe that Admission to AIM will help enhance the Group’s standing and brand
awareness and it is the intention of Directors to further marketing and branding initiatives.” Really?
Would have thought a listing on the or Shanghai or Hong Kong stock exchange would have been more appropriate? Considering, almost 95% of the companies sales are achieved in the Peoples Republic, despite its boasts of ‘supplying’ B & Q, and exporting etc.
After all, how many consumers here are aware of the companies FUYOU brand? Still, anyone taking time to look into the company will soon realise that the ‘Y’ in its brand name ought to be replaced by a ‘K’ !!!!!
Am I being too cynical?…….
Market Capitalisation of the Company at Admission at the Placing Price £99,758,216
Number of Ordinary Shares issued pursuant to the Placing 2,846,361
Net proceeds of the Placing (approximately) £1.51 million
Existing Issued Shares 118,810,000 ( all belonging to either Directors and their family members or related parties ). How many have been dumped since listing, despite the lock-ins?
Oh yeah!…. the proceeds of the placing £1.51 million nett…….used for to provide additional production capacity by expanding the factory, systematically upgrading of machinery and for general working capital purposes….. it all makes sense now! Not!
There are just so many things about this company that scream out RED FLAG!
One more example (of many!).
From its open offer document the company boasts of nett cash at bank of £25 million (RMB 257,754,000) yet has had to pledge its (leasehold) buildings and plant to the banks @6.45% re-negotiable yearly, to borrow cash for working capital purposes!
Further, the Directors and Families in 2013 entered into separate facility agreements to obtain cash for working capital purposes. They had to provide personal guarantees as collateral. Total borrowings £19 million ( RMB 190,390,000).
Perhaps, there lies the real reason behind the JSIH listing….. get selling those shares, boys!
If anyone takes the time for further research into this dog of a company they will soon realise why……
In 2009, the ‘Fuy(k)ou’ brand was recognised as ‘‘Most Famous Brand of Fujian Province’’!
Keep up the great work, Tom.
genuser063
In the fairly limited detective work I’ve tried to do on Jiasen (more Clouseau than Columbo), I’m still left wondering why anyone would go through all this trouble just to shaft private investors.
I’ve looked at their websites (both crap), and they just have a few spelling inconsistencies (Fuyou vs Foryou, Jinji vs Jijin) when compared to one another. Ownership of the domains used seems consistent. Jaisen.net seems to have more information and images. Although the “Chinese National Solid Wood Customized Home Furnishings Committee” would have to be one of the most specific committee names I’ve ever heard of, and that’s not including the weird array of other associations, with really long names, that Mr Jinji Chen is president of. Apart from having two websites, the only other thing I’m suspicious of is how anyone still thinks it’s OK to create a website using Flash.
http://www.jiasen.net (Quanzhou Jiasen Wood Co.,Ltd)
http://www.jsih.net (Jiasen International Holdings Limited)
From the jsih.net awards page, the certificate they claim to have from the “FOREST STEWARDSHIP COUNCIL” seems to check out according to http://info.fsc.org/details.php?id=a0240000005sRQwAAM&type=certificate&return=certificate.php But it was awarded to Quanzhou JiaSen Wood Co Ltd since 2003, and not Jiasen specifically. I don’t know about their other supposed awards yet, or why they don’t make a bigger deal of them on the site.
On jiasen.net, I found http://cnjiasen.en.alibaba.com/ which, for better of worse, does have more “information” about Quanzhou Jiasen Wood Co Ltd. The images there could be real or they could be from any random location.
The company does sound to good to be true, and I’d also like to know if their claimed £33 million is real. But, again, why go through all this time and effort building up something like this just to pull a fast one?? It really makes no sense to me.