Qingmei Group Holdings

[Greenrookie]

FY12 results are out. 4Q sales fell 80% and gross margin was negative. Looks like the superheroes have left the factory and gone back to making movies. No real surprise I suppose - minimum wage levels just aren't keeping up with the rising cost of living...

While I agree that qingmei has many many red flags flashing. The idea of superworkers isn't really that incredible. I did some research on that report before and realized that productivity by per worker per hour is only about 20. Mould injecting machines are able to inject around 100 per hour. It's comparable peers (tai ya shoes listed in shenzhen) has more super workers.. But then maybe both are haven for superheroes. 2 of them are among the largest soles producer in PRC. Not vested