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What&rsquo s the Group&rsquo s unaudited net asset value (&ldquo NAV&rdquo ) per share as of 30 September 2022?
The Group&rsquo s unaudited NAV per share is 109.23 Singapore cents as of 30 September 2022 as compared to 107.45 Singapore cents as of 30 June 2022. The Group remains profitable in 3Q2022.
This part look assuring to me.
A decrease in interest income, which was mainly attributable to:
(i) A higher percentage of assets being held in cash and yield enhancement products, due to the uncertain short-term outlook of the Chinese economy.
With assets being held in the cash portfolio as well as such yield enhancement products having a lower interest yield than debt investments, the Group is looking to reallocate funds to other asset classes.
As of 30 September 2022, the Group reduced its debt investments in China to approximately 56.0% of its total portfolio. Cash and yield enhancement products and equity investments form approximately 27.6% and 15.0% of the Group total portfolio as of 30 September 2022 respectively. A total of S$511 million, representing 12% of the Group&rsquo s assets as of 30 September, has been committed for deployment outside of China.
Also setting aside cash waiting to re-invest is also very good in my view seeing the business climate nowadays. redeployment of the group asset overseas out of china is a good opportunity now as well.
now waiting for the experts to comment hehe.
The Group&rsquo s unaudited NAV per share is 109.23 Singapore cents as of 30 September 2022 as compared to 107.45 Singapore cents as of 30 June 2022. The Group remains profitable in 3Q2022.
This part look assuring to me.
A decrease in interest income, which was mainly attributable to:
(i) A higher percentage of assets being held in cash and yield enhancement products, due to the uncertain short-term outlook of the Chinese economy.
With assets being held in the cash portfolio as well as such yield enhancement products having a lower interest yield than debt investments, the Group is looking to reallocate funds to other asset classes.
As of 30 September 2022, the Group reduced its debt investments in China to approximately 56.0% of its total portfolio. Cash and yield enhancement products and equity investments form approximately 27.6% and 15.0% of the Group total portfolio as of 30 September 2022 respectively. A total of S$511 million, representing 12% of the Group&rsquo s assets as of 30 September, has been committed for deployment outside of China.
Also setting aside cash waiting to re-invest is also very good in my view seeing the business climate nowadays. redeployment of the group asset overseas out of china is a good opportunity now as well.
now waiting for the experts to comment hehe.
Ya lai liao.
News is assuring in a way even though not all rosy at 3rd quarter.
volvo125 or anyone can provide some enlightenment or sharing after reading the 3rd quarter update?
The NPL is up by sizable margin, however it stated the loan losses provision is only mere 14.8 millon as most loan is adequately collateralized.
It did not state the UPL ratio and performing loan ratio so still something not too clear there
The increase in NPLs arose because of interest and principal repayment delays from borrowers impacted by the struggling property sector in China. However, as most of the affected loans are still adequately collateralized, the Group has made the provision for loan losses of $14.8 million.
In response to the challenges faced by the property sector, the Chinese government has pledged strong policy support and banks have taken steps to make additional funding more readily available. The effectiveness of such support will in turn determine whether the property sector in China will improve. Recovery of such affected loans will be dependent upon, among others, the improvement of the property sector in China. The Group shall continue to actively manage its customers and collateral and will write back at the appropriate time what has been conservatively provided for in prior periods in accordance with our existing policies.
News is assuring in a way even though not all rosy at 3rd quarter.
volvo125 or anyone can provide some enlightenment or sharing after reading the 3rd quarter update?
The NPL is up by sizable margin, however it stated the loan losses provision is only mere 14.8 millon as most loan is adequately collateralized.
It did not state the UPL ratio and performing loan ratio so still something not too clear there
The increase in NPLs arose because of interest and principal repayment delays from borrowers impacted by the struggling property sector in China. However, as most of the affected loans are still adequately collateralized, the Group has made the provision for loan losses of $14.8 million.
In response to the challenges faced by the property sector, the Chinese government has pledged strong policy support and banks have taken steps to make additional funding more readily available. The effectiveness of such support will in turn determine whether the property sector in China will improve. Recovery of such affected loans will be dependent upon, among others, the improvement of the property sector in China. The Group shall continue to actively manage its customers and collateral and will write back at the appropriate time what has been conservatively provided for in prior periods in accordance with our existing policies.
volvo125 ( Date: 05-Dec-2022 21:39) Posted:
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3q update lai liao ...
1H22 ended on 30 June 2022 and 3Q already ended on 30 September 2022 so I guess they have taken the liberty to omit 3Q update since it is not mandatory. Maybe they will do so going forward but to be frank, is there anything to update since the company was freshly spinned off from YZJS? Historical results applied and as the new company, the latest update was in the form of 1H22 results release. Nothing much changes in term of buisness fundermental, and new business directions and key appointments were made known in timely fashion via SGX annoucnements. Why beat ourselves up for 3Q update, or the lack of it. Having said so, I also don' t know will there be 3Q update or not, seeing that SBB has not resumed and yet, SBB and business update can be interdependant as well. They may well decided that no 3Q update and they have bought back enough for the time being. I think long term investors can chill lah, today don' t know who go and buy when there was fierce selling down to 335. At that point, I think many would think ' here we go again, will try 325/315' but who would guess it closed back at 345? Some big parties are having tug of war now, it is not one sided. Personally, I will nibble a bit when it does come down below 325.
Their EQ is really lousy , why ?
If YFH continues to delay the 3q brief or worst still skip it, sellers and shorts will come back in droves to attack it down again .... Why the coy not releasing the 3q is a baffling question that is touching on the raw nerves of many investors and seen as a triggering point for sellers and shorts to hammer ...
soeteono ( Date: 05-Dec-2022 14:37) Posted:
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It seems Short sellers also exhausted ?
Yes, past month was gradually switching out some SH for FH. Although once married, there ought to be no link in my decision to switch, the factors being same " dynamic operator" and that so called marine fund.
Naturally, we are concerned about this sky high volume and lulled price of FH, can connote high awareness to nothing much inside it. Originating investors would recall that YZJ lulled in the lows for a good 11 years (yes 11 yrs) after its chairman related correction. In spite of brokerages calling targets of 2x its price, it stubbornly stayed put below $1.10. Probably plenty of eternal time to accumulate FH, to me the only way up is to see that stingey chinaman call attractive twice a year dividends. Investors shout loud and long enough, might get there......
Naturally, we are concerned about this sky high volume and lulled price of FH, can connote high awareness to nothing much inside it. Originating investors would recall that YZJ lulled in the lows for a good 11 years (yes 11 yrs) after its chairman related correction. In spite of brokerages calling targets of 2x its price, it stubbornly stayed put below $1.10. Probably plenty of eternal time to accumulate FH, to me the only way up is to see that stingey chinaman call attractive twice a year dividends. Investors shout loud and long enough, might get there......
fuzzyshares ( Date: 04-Dec-2022 14:39) Posted:
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Even buy Q more qty than sell Q , someone will throw at 0.34 just to show last done at 0.34 . Why ?
Maxgrow68 ( Date: 05-Dec-2022 11:01) Posted:
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V funny! When overall mkt green, this stock is in red!!
Strange behaviour like someone deliberately control the price movement...
Strange behaviour like someone deliberately control the price movement...
Just bewildered who has so many shares to dump ? So far no announcement by DGC .
Dumped big at 0.345 again.
YZJSH is approaching the pre-split level of 1.50's, even though YZJFH is not doing well, it's a consolation when holding both stocks. While both YZJSH and YZJFH are favourite short selling targets, YZJSH is a retail and momentum stock, more than often positive news carried the stock. Hopefully positive news can carry YZJFH too. Let's see what happens.
Nippon72 ( Date: 04-Dec-2022 13:41) Posted:
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So how does one interpret this meptahor of yours? To buy SB or FH or both?
fuzzyshares ( Date: 04-Dec-2022 13:33) Posted:
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A Tale of Two Cities.
The child YZJFH is a spin-off from the father YZJSH. YZJFH is a David Copperfield but it turn out the father is ruled by the son while the son is helmed by the father. Confused? Here's why.
Ren Letian is the executive chairman and chief executive of Yangzijiang Shipbuilding, YZJSH.
YZJFH, on the other hand is helmed by Ren's father, Ren Yuanlin.
One of the morals in A Tale of Two Cities is that things are not always as they seem. Somebody who appears to be no-good and disreputable could become the most righteous person in the world. Individuals who appear to seek justice may be bloodthirsty in the end.
The child YZJFH is a spin-off from the father YZJSH. YZJFH is a David Copperfield but it turn out the father is ruled by the son while the son is helmed by the father. Confused? Here's why.
Ren Letian is the executive chairman and chief executive of Yangzijiang Shipbuilding, YZJSH.
YZJFH, on the other hand is helmed by Ren's father, Ren Yuanlin.
One of the morals in A Tale of Two Cities is that things are not always as they seem. Somebody who appears to be no-good and disreputable could become the most righteous person in the world. Individuals who appear to seek justice may be bloodthirsty in the end.
I hope market participants can slowly change their perception of FH being a " Chinese" company. Ex MAS, GIC, EDBI and SGX head honchos, who are all Singaporean and residing in Singapore, are running the company today...
sgng123 ( Date: 03-Dec-2022 23:47) Posted:
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If they had done most of the capital deployment when the market was at its low and catch the trough, that would be the most opportune time and yield greatest returns. That being said, it is impossible to sell the highest and buy at the lowest. It is all dependent on the timing of their deployment of capital into securities as they rotate it out of debt instruments.
High risk play but with SUPER good returns if management of YZJFH can find its way out of the woods, next 5-6 months will be very crucial
every business has its opportunities and difficulties. for loan business most important is the ability of the borrower to pay. second the collateral for the loan, aggresive bank has even use statistic like 2 % of this type of borrower will default, then use higher interest to balance off the -ve effect. many other ways. DI business has been profitable for yzjfh for years. their knowledge, contact in the field is strong. should continue. if risk is now higher then can reduce risk by lending smaller amount and leand to lower risk people. which they have done by reducing the percentage of DI business.
do new no better then do old and tested business. no need to change for the people who don' t believe. difficult to win these over. there are people who understand and believe in the DI business. have business update better then no have. more important is an indication of dividend range to expect in may 2023.
facts. no buy back since 1 Nov 2022. it means on a per day basis yzjfh can buy back more shares before they reached agm for a new mandate to buy back. the ability to provide liquidity for short increased. for traders if short cannot bring down the price to make profit, logical trader will look for better target. or even accumulate and do reverse.
about 6 months to dividend pay out . if 2 cents dividend then the annualised return is > 10%.
dyodd
do new no better then do old and tested business. no need to change for the people who don' t believe. difficult to win these over. there are people who understand and believe in the DI business. have business update better then no have. more important is an indication of dividend range to expect in may 2023.
facts. no buy back since 1 Nov 2022. it means on a per day basis yzjfh can buy back more shares before they reached agm for a new mandate to buy back. the ability to provide liquidity for short increased. for traders if short cannot bring down the price to make profit, logical trader will look for better target. or even accumulate and do reverse.
about 6 months to dividend pay out . if 2 cents dividend then the annualised return is > 10%.
dyodd
Maybe YZJFH decide to exit DI since it so unpopular with international investors, then maybe we see the real value cos it insane to see mid cap financial company sink so low as YZJFH.
We can make do with low dividend as long YZJFH exit DI and stock price recovered to proper valuation.
China DI is toxic for international investors, it destroy companies stock capitalisation.
We can make do with low dividend as long YZJFH exit DI and stock price recovered to proper valuation.
China DI is toxic for international investors, it destroy companies stock capitalisation.