Monday, May 23, 2011

COGO, what do you do exactly?

I have read a lot of COGO's SEC filings, their 10K, 10Qs, Prospectuses, Proxy Statement and I still have NO IDEA what exactly they do. Here is a press release from 2010
Cogo Group, Inc. (NASDAQ: COGO) is a leading provider of customized module and subsystem design solutions in China. The Company believes it acts as a proxy to China's technology industry as it works with virtually all the major ODMs and OEMs in China. Cogo leverages these relationships and combines their IP to create designs that Cogo then sells to electronic manufacturers.

So what is a customized module or a subsystem design solution? They also make a pretty slippery statement that they are a proxy for "China's technology industry." Uh, really? That's a pretty ballsy statement. I mean, I can see people using Walmart's  sales numbers a proxy for the American working class, or Intel's sales as a proxy for the IT industry but to say that your small company is a proxy China's technology industry just seems absurd.

My guess is, this is more of a statement to drastically simplify their business and sensationalize the companies prospects.

1 comment:

  1. This is fantastic. Goes along with nano-honeycomb-embedding.