Bodisen Biotech, the once high-flying Chinese environmental play, has had its wings clipped, perhaps permanently. The company is about to lose its listing on the Amex market in the US because it has been unable to file its annual report in time or clarify some complicated share dealings involving former executives.
Anyone who wants to try to fathom out the latter is welcome to peruse the official statement here.
Bodisen Biotech makes fertilisers that it claims improve soil and plant quality, and increase crop yields — a huge potential market in China.
Bodisen promotes its “bio-fertiliser” (shown left) as a solution to one of
China's biggest problems, namely how to produce more food to feed its massive population. Much of China’s urban population of 500m depends on imported grains to support higher demand for meat.
EngagingChina has long been critical of the quality of some of the Chinese small companies that have chosen to float on western stock exchanges. Ironically, one that was initially to our
liking was Bodisen Biotech, which unlike some of the more fanciful China plays, did at least produce something tangible and easy to understand.
Despite the “biotech” in its name, its products are hardly hi-tech but that is perhaps the least of the many issues that now dog the company.
Suffice it to say, the strange smell that has been emanating from Bodisen Biotech has got a lot worse recently and the regulators have apparently decided enough is enough.
We last wrote about Bodisen Biotech here.