Laoganma Chairman is determined not go listed to cheat money



“I am determined not to go listed on stock market, it is possible to go bankrupt. Listing is about cheating people’s money, some become rich and go away, then I’ll pay off debts; thus any government officials came to talk to me about going public, I said: ‘Do not talk to me about it! No way! If you ask for money, I have no; I got only my life, you take it!'” Said Laoganma Chairman, Tao Huabi(陶华碧).

Source: 扬子晚报 editorial comment: the voice of the Laoganma Chairman reflects one common phenomenon that many listed companies in the Chinese domestic stock market are not engaged in making money for the shareholders but instead making money out of them.

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