WAR ON CHINA - by well-known Shorter, Evil Kneivel
CHINESE INVASION
In October, the group posted a 16 percent rise to 13.1 million pounds in pretax profit for the year to June 30.
Despite the relative lack of liquidity in its shares, Asian Citrus has been a Chinese success story for growth investors since its initial public offering in August 2005, and its shares have risen about 80 percent from a debut price of 115 pence.
The performance stands out at a time when AIM-listed Chinese firm have been attracting negative attention due to some recent high-profile price declines.
Shares in bio-fertilizer group Bodisen Biotech Inc have fallen over 50 percent since it revealed last month it had failed to comply with listing standards of the American Stock Exchange (AMEX).
Shares in Betex Group Plc , a company focused on the Chinese lottery, are down 46 percent in six months.
Simon Cawkwell, an investor known as Evil Knievil among British retail investors, published a note on share-tipping Web site t1ps.com last month declaring it was time to go to "war on China".
"What is clear to me is that there have been some incredibly ropey companies from China floated on AIM," he said, adding that he was going to write to the London Stock Exchange outlining his concerns about the trend.
More than 40 Chinese companies are now listed on London's alternative market, with around half having joined this year.
The latest is cement maker West China Cement Limited , which raised 22 million pounds via flotation on Monday, valuing the group at 66.8 million pounds.
It followed Chinese Medstar Ltd , a radiography and medical imaging company, which is down 2 percent since floating at 78 pence a share on Thursday.
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