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Their first trade was shorting the company Chaoda Modern Agriculture - that is believing that the company's stock price would fall. They claimed that they had found evidence of one of the Hong Kong exchange's largest and longest running frauds.
Was this a good trade? According to Yahoo finance, the company Chaoda Modern Agriculture has not traded since October 2011. Here's the chart: finance.yahoo.com. The reasons seems to be that the company has been the subject of various allegations of fraud and of insider trading by its executives.