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Losing steam for upward climb though there is still some buying interest at 0.02.
Anyone who had looked at the China Hongxing results wld figure out that the situation is less than rosy. Suggest those keen on this coy shd go read the last section of the CH results.
KAMAL0883 ( Date: 18-May-2015 13:32) Posted:
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China 3rd liner too risky .....
if you did not monitor , it can become $0.02 from $0.20 within a month or after you came back from your 2 weeks Europe holiday ..
i kena beaten twice already .... : (
can " siam " better siam ....
KepoChicken ( Date: 18-May-2015 13:23) Posted:
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can some1 put some oil to bom the 0.022...
outlook ( Date: 18-May-2015 13:04) Posted:
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Thanks Fruitfulness for the info.
fruitfulness ( Date: 18-May-2015 12:54) Posted:
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If the accounts could be trusted, this is a grossly undervalued company.
Those who attended the AGM were told an interesting story why the external auditors issued adverse statements especially on the trade receivables - they enquired a bit late, sometime in early Mar. The new lady CFO (who took over from Alex Chan, the previous CFO), was frequently on leave and in the first trimester of pregnancy, and as such she could not travel. So, there was no means to verify and hence there was no reply to the auditors. We could see the rushed work of pushing out the 1QFY15 report this morning, wrongly submitting two work-in-progress documents before correctly uploading the finalised one. I hope the company secretary and CFO are not too stressed!
China Sports has to decide what it wants to do regarding MTP (of 20 cts) issue. The CEO has been asked to consider making an offer and delist from SGX. He acknowledged that it is one possibility he has to consider although he believed he could still turn China Sports around and make it do well. (A share consolidation of 10 or 20:1 is unimaginable and unproductive. Downgrading to Catalist is truly a step backward)
So there is some possibility for delisting play!
once 0.022 break... will come to 0.025
johnng ( Date: 18-May-2015 12:16) Posted:
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not easy to short....long most likely....Someone jeeping every few minutes
Volume strong at 4.8m
$0.022 see BBs standby there....break 22 be shiok shiok...Pi Bo Pi Bo huat arh
appleronaldo ( Date: 18-May-2015 11:16) Posted:
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i see interest picking up today.....hopefully today can go 3cent
Can short what price today???
No wonder got pple buy today....
everyone thought it will be loss making.. who knows till profitable
outlook ( Date: 18-May-2015 10:51) Posted:
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There is some buying interest. Recovered from a low of 0.019. Touched 0.022. Hope the buying is sustainable.
China Sports price has now dropped to 0.021 in line with the general market weakness though there is stil some support at 0.021. I think can accumualte if it falls below 0.02
China Sport FY2014 shows positive results. Price steadily rising. now at 0.027
The factory is lounch last year september thus might be expecting some impact to the last quarter revenue also if they manage to get additional order for the new production line.
As far as many shareholders are concern, the streamlining had largely been done last yr when there was a one-time big writeoff (equivalent to profits of the three previous years). There was an about-turn in strategy - focussing on what it does best (designing & manufacturing of shoes). Did away with its sports accessories and apparels business. It' s breathable shoes are now meant largely for casual wear (less than 20% are sports shoes). Having tested the kidswear market, it now tries to go bigger into that sector (with shoes incorporating Garfield design). Maybe it' s time for a name change of the company (lest people still think it is still competing very hard in the sports shoes arena) ?? It makes sense to give a reasonable dividend this year after making shareholders suffer the past few years. More importantly, it must build and gain trust that it' s accounting is proper (especially the cash it is holding). While it is saying it is going to build a new manufacturing facility at Anhui province (based on location, labour cost saving and capacity expansion reasons) using only internal funds (11 to 12 cents per share), it must first show investors the money is truly in the bank. Have already requested the ID to show more concrete evidence.
There are evidents that dividend are given out in good years for China Sports. As for this year will they give out the dividend is questionable as they have just recover from streamlining their business.
| China sport International | 2007 | 2008 | 2009 | 2010 | 2011 | 2012 | 2013 | 3Q2014 |
| Revenue (`000RMB) | 1,207,050 | 1,859,717 | 1,904,797 | 1,222,978 | 913,129 | 760,260 | 818,249 | 614511 |
| Profit after tax (`000RMB) | 155,089 | 184,935 | 122,598 | 66,294 | 50,520 | 16,209 | -156,881 | 49932 |
| Profit margin | 12.85% | 9.94% | 6.44% | 5.42% | 5.53% | 2.13% | NA | 8.13% |
| Earning per share (RMB) | 0.549 | 0.275 | 0.169 | 0.070 | 0.053 | 0.017 | -0.168 | 0.0519 |
| Dividend (RMB) | - | 0.093 | 0.028 | - | 0.007 | - | - | |
| Payout rate | 0.00% | 33.88% | 16.23% | 0.00% | 12.38% | 0.00% | 0.00% |