Asia Fiber Holdings Limited is the holding company for Far Beyond Investments Limited (Far Beyond). Far Beyond owns a 70% equity interest in Asibao, the principal activity of which is the manufacture and sale of polyester fiber products. Asibao was established as a Sino-foreign joint venture company in the PRC between Heilongjaing Longdi Group Co. Limited (Longdi), a PRC state-owned enterprise and Far Beyond.
Forward split: Will split 2.5:1 on March 1, 2001
3/1/01 News: http://biz.yahoo.com/bw/010301/0256.html
Financials as of 11/14/00:
Total sales for the nine months ended September 30, 2000 increased by RMB107,074,000 (US$12,932,000) or 34.7% to RMB415.5 million (US$50.2 million), compared to RMB308.4 million (US$37.2 million) for the corresponding period in 1999.
The Company has a working capital surplus of approximately RMB124 million (US$15.0 million) as of September 30, 2000, compared to that of approximately RMB90 million (US$10.8 million) as of December 31, 1999
An 8K filed on 2-8-2000