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I will share whatever I know as I have been following this company for few years but I sold all my share in May 2015 (One of forum topic i started in 2015: Debts more than 90 days $429 Million??? ). Since they have already written off debts more than 90 days, now the financial report give a realistic view, it is worth to look into this company again (my posting on 01 Jan 2016)
They are manufacturing for international brand if i did not remember wrongly, also have some Garfield Licensing rights. They used to do very well in their breathable shoe as they used the " FeiLunHai" to market their products.
Very little creditors and Net Assets value is 48.47RMBcents / 4.59 (Today rate)= 0.105 sgd dollar
As for plan with Osim, this is what I know so far:
http://www.businesstimes.com.sg/companies-markets/china-sports-international-reveals-934-stake-taken-by-osim
I have also read some reports on China sportswear future:
http://www.barrons.com/articles/china-sportswear-stocks-stage-big-comeback-1444109902
Compare to other Chinese company, so far I feel this counter is considered safe as they have
Prepayments, other receivables and deposits 148 mil rmb
Cash and cash equivalents 1 57 mil rmb
Buy 50 to 100 lots and Keep :) Should be safe
get ready short some TODAY LATER
Is china sport increasing their export of shoes overseas?
http://www.tradesparq.com/Customs/14823943/Customs-Data-Yeli-Sports-China-Co-Ltd#sthash.7r8WfHi3.dpbs
see on monday if this can hold up...
ysh2006 ( Date: 02-Jan-2016 08:14) Posted:
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Why Erata don' t do the same way leh ...? both also doing spot shoes...
appleronaldo ( Date: 31-Dec-2015 10:48) Posted:
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And cheong like China Sport....for a Happy CNY rally.
lglg666 ( Date: 01-Jan-2016 17:04) Posted:
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Wah....hope the rest of the S-chips will wake up one by one nearer CNY.
My view:
In 18 May 2015, financial report states 429.9 mil debts (81% of total debts) over 90 days. (Gross Profit 22.5 mil Net Profit 8.8)
In July Osim increased stakes
In 14 Aug 2015, greats debts written off and great net loss, financial report states debts over 90 days 176.98 mil (59.7 % of total debts) *(Gross profit 8.4 mil Net Loss 304mil)
From my experience, above style is not China sports way. This move is getting the financial statement in a more realistic view in future quarters. I believe they are planning ahead
In 14 Nov 2015, greats debts written off and great net loss, financial report states 33.1 mil debts of 90 days (55.7% of total debts) * (GP 4 mil NL 270mil)
Even better as by next quarter, it will give a very accurate view of financial report and should report better result as the worst write off is over.
30 Dec PROPOSED SUBSCRIPTION OF 192,000,000 who is involved in shoes soles and shoes lining materials, manufacturing non-woven industrial materials and fibers
I think above is step by step towards creating a synergy for the company to go into the development of the breathable and waterproof membrane shoe.
In long term, I think this company is worth to invest but of course due there is alsways risk when buying China company stocks
Power run...,lol
explosive2013 ( Date: 31-Dec-2015 12:27) Posted:
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congrat to you bro !
other of my counters soon.. look out Dragon
other of my counters soon.. look out Dragon
lglg666 ( Date: 31-Dec-2015 12:32) Posted:
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Sold mine 500 lots for 100% profit....happy!! But run higher....leave some for others? Cannot expect made everything. Yes....BB have steel balls. Saluted them.
bro sold mine 2000 lots , and keep 1000 lots to fight...
your new year gift
chart still show upside next monday
your new year gift
chart still show upside next monday
lglg666 ( Date: 31-Dec-2015 12:22) Posted:
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See the fire?. Once lion roar then you know the power.
Super rally.....:)
PLACEMENT to some CHINA BLUE CHIPS DIRECTOR