China Lumena New Materials – Glaucus Research

CHINA LUMENA NEW MATERIALS CORP (“Lumena” or the “Company”) produces and sells thenardite and polyphenylene sulfide (“PPS”) products in China. We believe that Lumena has made numerous material misrepresentations to investors and the Hong Kong Stock Exchange (“HKEX”), both in its 2009 IPO prospectus and in subsequent financial statements. In this report we present publicly available tax records and stamped hard copies of SAIC filings which, in our opinion, indicate that Lumena’s sales are 90% less than the sales reported to investors and regulators in the Company’s Hong Kong filings.

Company Name
Ticker
Investment Thesis
Exchange
Initiation Date
Initiation Market Cap (in USDmm)
Initiation Avg Volume (Shares per day)
Price at Initiation
Price Target
Current Price
% Change
China Lumena New Materials – Glaucus Research
67.HK
fraud
hkex
3/25/2014
$988
24,600,000
HKD 1.36
HKD 0.00