http://tech.sina.com.cn/t/2006-10-14/00481183971.shtml

There coul be big trouble ahead for this wall street darling.
CECT was trying to get IPO in Hong Kong early this year, but run into
problems, so it turned to NASDAQ.  All hope was on CECT's IPO this
year. Now the plan is now scraped. Speculation is CECT/XING may run
short of cash becaue of failed IPO.
According to this report, XING's cell phones are also be boycotted by
some retailers because of its poor qualities and poor services.
What's really serious issu is that CECT is being accused by government
that it illegally outsource its cell phone license to other companies.
(in China, only companies that have licenses can sell cell phones).

October 12, 2006
Qiao Xing Universal Hits Multi-Year High
As reported last time, Qiao Xing (Nasdaq: XING) stock has broken out of
a solid saucer formation that formed from late June to mid-September,
concluding with a break above $12 and its recent surge to new 52-week
highs on heavy volume. The breakout mirrors an earlier saucer formation
that formed from early December to mid-March. Click here for our
previous post and an awesome Qiao Xing stock chart. Today, shares are
continuing to move on strong momentum, hitting another 52-week high and
currently trading up $.61 to $17.03, on heavy volume of 1.1 million
shares. The stock, amid little fanfare or publicity, is higher along
with the strong market indices, trading at a price not seen since the
dot-com bubble.