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Under the current market conditions, I think the YZJFH mgt is relatively new and inexperience when compared to some of the fund manager. In fact, some of the unit trusts are doing quite well during this period.
Not much traction for YZJFH except price going lower and lower
Not much traction for YZJFH except price going lower and lower
Winnertakeall ( Date: 02-Jun-2026 18:49) Posted:
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长 鑫 科 技 已 于 2026年 5月 27日 通 过 上 海 证 券 交 易 所 科 创 板 IPO审 核 ， 计 划 募 资 295亿 元 ， 预 计 2026年 第 三 季 度 正 式 上 市 &zwnj ， 成 为 科 创 板 史 上 第 二 大 IPO项 目
put your china investment money to use. will get some rewards if can access.
not to forget to look at their supplier as the 29.5b cny will be spend to add facilities and later
inceased the amount of material in these new facilties.
put your china investment money to use. will get some rewards if can access.
not to forget to look at their supplier as the 29.5b cny will be spend to add facilities and later
inceased the amount of material in these new facilties.
Generally called cross-shareholding where listed companies own stakes in each other. It is not automatically illegal in Singapore, China, or most major markets, but it is subject to disclosure, governance, and market-manipulation rules.
do not know if cross buying is legal, but i see it happen a few companies.
suppose 2-3% of market cap of target companies with intention for investment is nothing
wrong as each is a legal entities with different board of dir.
suppose 2-3% of market cap of target companies with intention for investment is nothing
wrong as each is a legal entities with different board of dir.
Pasttime, that' s a brilliant idea and does not reduce the market cap. but are they allowed to do it ?
The intrinsic value for Yangzijiang Financial Holding Ltd (YF8) under the Base Case is 0.75 SGD. Compared with the current market price of 0.24 SGD, the stock appears Undervalued by 68% .
by the way. share buy back will only make market cap go smaller.
do a cross buy. 3 listed companies, they just allocate money to buy 2-3% of each other shares as invesment is enough to push the shorts to run cover.
market cap of > 3b will likely get included into indexes.
do a cross buy. 3 listed companies, they just allocate money to buy 2-3% of each other shares as invesment is enough to push the shorts to run cover.
market cap of > 3b will likely get included into indexes.
let revisit what has happened.
yzjs do a change shell technique (金 蝉 脱 壳 ) and we see yzjs share price move up.
yzfh got sold down for those wanting cash.
ren do maritime business. do a second change shell (金 蝉 再 脱 壳 )
yzjh for capital presevation and yzjm for riding on the green maritime opportunities.
i see yzjm has value near nta and has good potential to go up as later results will show.
yzjs has adopt a capital presevation strategy like benjamin graham style. they just need to rebalance at time interval.
i expect yzjm to go up further first and yzjh to catch up and exceed later.
yzjm opportunities are time limited. over ten years capacity will catch up. while yzjh opportunities is in
market mood swing. they just need to rebalance over time and the size will grow. so
it has no time limit. will grow and grow.
i adopt similar strategy and so far it works. but one has to be patient as most of time no change in
overall value.
i keep some yzjs as the share price is too low. so can take a free ride on the discount.
dyodd
yzjs do a change shell technique (金 蝉 脱 壳 ) and we see yzjs share price move up.
yzfh got sold down for those wanting cash.
ren do maritime business. do a second change shell (金 蝉 再 脱 壳 )
yzjh for capital presevation and yzjm for riding on the green maritime opportunities.
i see yzjm has value near nta and has good potential to go up as later results will show.
yzjs has adopt a capital presevation strategy like benjamin graham style. they just need to rebalance at time interval.
i expect yzjm to go up further first and yzjh to catch up and exceed later.
yzjm opportunities are time limited. over ten years capacity will catch up. while yzjh opportunities is in
market mood swing. they just need to rebalance over time and the size will grow. so
it has no time limit. will grow and grow.
i adopt similar strategy and so far it works. but one has to be patient as most of time no change in
overall value.
i keep some yzjs as the share price is too low. so can take a free ride on the discount.
dyodd
Yes after posting I realised I have mixed up the 8% ROE. That was YZJM' s ROE in fact but at least it is very likely that this ROE will shoot up for YZJM in the very near future. I didn' t correct it as I was lazy lol and thank for pointing it out. We can take heart that from the questions submitted and the participation in the AGM, we can tell that we have many competence and high quality retail investors in YZJF. if the company remains inaction for too long, I think next AGM we will see riot or a very quiet AGM following exit of savvy retail investors. We really cannot understand why no SBB despite the reasons given by the company. it seems that they are keeping the huge cash for some kind of eventuality. I just hope that they will surprise us with some announcement(s) in the next few months, such as they have deployed the cash and seized control of certain public listed company(ies) in China.
volvo125 ( Date: 01-Jun-2026 14:28) Posted:
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Yes, similar assessment on YFH current posture post YMD spin off, except with some further points to add :-
1. For reasons way beyond my comprehension (and i believe it' s a mystery to many investors too), in spite of the many shareholders suggestions in the form of writing to IR as well as outright repeated vocal demands during the AGM, YFH seems to display a very high reluctance to conduct SBB, even though it has a very healthily high $638m cash balance in its book and seems not able to productively deploy them to projects with higher attractive returns comparable to the progressively exiting PRC DI at 11~12%pa. So far based on mgt indication, only a mere RMB1b or ~Sgd190m was cited for plan to deploy to so called higher yield financial instruments = or > 4.5%. Yes, so called higher yield BUT at just ~4.5%, and only S190m. What happen to the remaining cash (638 minus 190) = $448m ... sitting in the bank money mkt fund or short term FD at just ~1% ? Why not just allocate, say very comfortably at $100m, to conduct SBB at the current deeply discounted share price at ~0.5x NAV to instantly double the return capability of these SBB retired shares, as well as to scoop up the excess liquidity that shorts are tapping on to hammer the price down in the past months ?
2. Based on FY25 result, YFH PBT was $92m, so NPAT was ~$74m assuming ave PRC/SG tax rate 20%. At NAV $1710m, ROE was very sub optimal at just (74/1710) = ~4.3%, not 8%, due to zero income from the $254m NPL, and also likely the very low return from the $638m cash portion (which is why mgt trying to allocate RMB1b to even just 4.5% return instruments).
3. At NAV $1710m, and a mgt target of 50:50 SG:PRC, the target capital structure SG:PRC likely $850m:$850m. Based on mgt stated 40/40/20 investment target, PRC DI must reduce progressively from the current net $844m to $342m, or an unlock of $502m cash in the next 1~2 or may be 3 years (2026~2027, and may be until 2028). This $502m is supposedly to be redeployed to PRC P& PE (40%) and Cash mgt (20%).
4. So besides the $448m (638m minus 190m), a further $502m will progressively be unlocked from PRC DI in the months or 1~2 years ahead.
5. YFH is not short of cash. In fact, YFH is currently flushed with a very high level of cash, with an even higher level of cash coming in from the progressive unlocked PRC DI. Post YMD spin off, the earning streams of YFH is very sub optimal at just ~4.3%, and the mgt seems retuctant to conduct accretive SBB yet lack the capability or channels to productively deploy the huge cash pile to reap higher returns.
6. Based on my interaction and observation of CEO Peng during the AGM, Peng seems highly competent to lead the PRC biz. He displayed strong analytical ability, quick reflexes and well informed in biz domain he operates. I have a high regard for the younger CFO too based on the attitude and aptitude he displayed during the AGM. I believe YFH is in good hands in the PRC biz.
7. The SG biz drive leadership is a big question mark to me as I do not feel the presence of the supposedly new SG Head Malcolm even though he was present in the AGM. He was quiet throughout the whole AGM. Although no annoucement has been made, Malcom Ong was to replace the former SG Head Elvin Chew. LiuHua is a caretaker of YFH so she is definitely not the front man that drives the SG biz. Peng is a PRC and is a figure head CEO so again he is also not the front man to drive the SG biz too. As at 31Dec2025, only a mere $38m out the $1.7b of YFH NAV was parked in SG, so at the 50:50 capital structure target, some ~$817m will be transferred progressively to SG in the months/years ahead. I have no idea how to appraise the future SG income based on the little credential and feel of this new SG Head. This is a very big question mark to me.
1. For reasons way beyond my comprehension (and i believe it' s a mystery to many investors too), in spite of the many shareholders suggestions in the form of writing to IR as well as outright repeated vocal demands during the AGM, YFH seems to display a very high reluctance to conduct SBB, even though it has a very healthily high $638m cash balance in its book and seems not able to productively deploy them to projects with higher attractive returns comparable to the progressively exiting PRC DI at 11~12%pa. So far based on mgt indication, only a mere RMB1b or ~Sgd190m was cited for plan to deploy to so called higher yield financial instruments = or > 4.5%. Yes, so called higher yield BUT at just ~4.5%, and only S190m. What happen to the remaining cash (638 minus 190) = $448m ... sitting in the bank money mkt fund or short term FD at just ~1% ? Why not just allocate, say very comfortably at $100m, to conduct SBB at the current deeply discounted share price at ~0.5x NAV to instantly double the return capability of these SBB retired shares, as well as to scoop up the excess liquidity that shorts are tapping on to hammer the price down in the past months ?
2. Based on FY25 result, YFH PBT was $92m, so NPAT was ~$74m assuming ave PRC/SG tax rate 20%. At NAV $1710m, ROE was very sub optimal at just (74/1710) = ~4.3%, not 8%, due to zero income from the $254m NPL, and also likely the very low return from the $638m cash portion (which is why mgt trying to allocate RMB1b to even just 4.5% return instruments).
3. At NAV $1710m, and a mgt target of 50:50 SG:PRC, the target capital structure SG:PRC likely $850m:$850m. Based on mgt stated 40/40/20 investment target, PRC DI must reduce progressively from the current net $844m to $342m, or an unlock of $502m cash in the next 1~2 or may be 3 years (2026~2027, and may be until 2028). This $502m is supposedly to be redeployed to PRC P& PE (40%) and Cash mgt (20%).
4. So besides the $448m (638m minus 190m), a further $502m will progressively be unlocked from PRC DI in the months or 1~2 years ahead.
5. YFH is not short of cash. In fact, YFH is currently flushed with a very high level of cash, with an even higher level of cash coming in from the progressive unlocked PRC DI. Post YMD spin off, the earning streams of YFH is very sub optimal at just ~4.3%, and the mgt seems retuctant to conduct accretive SBB yet lack the capability or channels to productively deploy the huge cash pile to reap higher returns.
6. Based on my interaction and observation of CEO Peng during the AGM, Peng seems highly competent to lead the PRC biz. He displayed strong analytical ability, quick reflexes and well informed in biz domain he operates. I have a high regard for the younger CFO too based on the attitude and aptitude he displayed during the AGM. I believe YFH is in good hands in the PRC biz.
7. The SG biz drive leadership is a big question mark to me as I do not feel the presence of the supposedly new SG Head Malcolm even though he was present in the AGM. He was quiet throughout the whole AGM. Although no annoucement has been made, Malcom Ong was to replace the former SG Head Elvin Chew. LiuHua is a caretaker of YFH so she is definitely not the front man that drives the SG biz. Peng is a PRC and is a figure head CEO so again he is also not the front man to drive the SG biz too. As at 31Dec2025, only a mere $38m out the $1.7b of YFH NAV was parked in SG, so at the 50:50 capital structure target, some ~$817m will be transferred progressively to SG in the months/years ahead. I have no idea how to appraise the future SG income based on the little credential and feel of this new SG Head. This is a very big question mark to me.
HVRRVH ( Date: 31-May-2026 13:12) Posted:
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In my view, YZJF has started off again from scratch. Iniitally, it was spun off from YZJS with high NAVs but it wasn' t doing well until it embarked on maritime businesses. However, the successful maritime businesses have since been carved out into YZJM and again, YZJF is left with mainly debt investments albeit this time, with much smaller NAVs. Investors who stick to the spin off and now vested in both YZJF and YZJM have higher confidence in the business and profit trajectories of YZJM, however, same cannot be said of YZJF. Increasingly YZJF is heading to a binary investment outcome, either it remain a value trap and continue trading less than half of its NAV, or it come to life with right investments. That' s where the current management seems lacking. They seems don' t know where to put their money for higher return. As per AGM minutes, only 25% of the RMB $1 has been invested into low yield equities that would return 4.5% or above. In responding to the queries, management came across as risk averse and giving the impressions that they wanted to preserve cash for strategic deals - such as controlling stakes in listed companies (Q& A 11). Most fraustrating to the shareholders is the management' s resistance to SBB. I do not find their reasoning convincing, particularly referring to SBB would result in concentration of portofio (Q& A 5). This is despite the shareholder that asked the question clearly illustrated that a buyback at 30cents would result in 70% gain and earning yield of 9% in consideration of NAV per share. With 618m cash in hand, a modest 50-100m (8 to 16% of cash) spend on SBB would not change the portfolio mix materially and would not hamper potential cash deployment capacity. Management said ' We need optionality' but at what cost? The stock is at historical lows yet management don' t see it fit to conduct SBB. A meaningful SBB can demonstrate to the market that managment is confidence in the company and SBB itself can close the valuation gap. The management believe they can generate higher returns deploying cash than buying back shares BUT large portion of cash remains undeployed since the spin off. Turning to the NPL. EC Liu mentioned that so far, 15-20% of the net NPL has been recovered. That would be $38-51m recovered in 4 months (Q& A 10) if we based on net NPL of $253.7m (original $544.5m less the $290.9m provision). This does shows the recovery pace is strong and any amount recovered will flow to income statement and directly boost reported profits. A 40m recovered NPL would translagte to about $0.012 eps. It is also rather clear that the $290.9m may not be recovered at all and that' s my personal reading. Going forward, for YZJF to turn around, it must demonstrate its ability to deploy cash to boost ROE/ROIC. It is too low now at about 8%. In a simple summary, going forward if YZJF manages to seize control of public listed companies (which they seems stressing that is what they are trying to do) and with future DI' s collateral being listed companies' shares and not real estate properties, and with meaningful recoveries of the remaining NPL ($203m after successfully recovered (15-20% so far), then may be there is hope for its share price to move up. If nothing happens in 12-18 months then we can conclude that the management is clueless.
see the stinky old man. oil price fall below 100 only fire a few rounds to create excitement.
but the effect is diminising as money at the moment focus on buying the ipo of spacex, openai, anthropic
maybe after spacex ipo the market may have resonable fall before marching up for feel good elections
in nov.
my observations only.
but the effect is diminising as money at the moment focus on buying the ipo of spacex, openai, anthropic
maybe after spacex ipo the market may have resonable fall before marching up for feel good elections
in nov.
my observations only.
pasttime ( Date: 08-May-2026 12:45) Posted:
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- Despite the loss, YZJ Financial
- still maintains a very strong balance sheet with
- zero debt
- around S$640 million cash hoard
- large discount to net asset value (trading around ~55% of NTA earlier this year).
- Stabilisation of China credit/property markets
- Lower future impairments
- Recovery in investment income
- Possible share buybacks or asset monetisation
- Growth of fund/wealth management business
Thank you, Bro!
Winnertakeall ( Date: 25-May-2026 10:36) Posted:
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- Q2/1H2026 results likely around:
- late July 2026 to early/mid August 2026.
When is the next result update? Totally no movement at all, like dead water...
funny ... both sides volume came down
haha ... both sides retreating
probably today no show ... take a break
haha ... both sides retreating
probably today no show ... take a break
momentum is pushing up and the wall at 0.25 suddenly disappeared by more than 1m
watch tiam tiam 👀
watch tiam tiam 👀
market is consolidating ... slow and sluggish
this counter is not for the faint-hearted ... should close at 0.25 basing on the momentum
this counter is not for the faint-hearted ... should close at 0.25 basing on the momentum
sluggish ... retail investors kenna burnt ... spinoff last year until now
poor thing .... no sound no action
better to wait for vital signs, pulse lah and so forth
poor thing .... no sound no action
better to wait for vital signs, pulse lah and so forth