China Xiniya Fashion Ltd. (XNY)

[dragontsunami]

Want to invest in a true legitimate & undervalued Chinese company?

There is one: Xiniya (XNY). Take a look at the company's presentation and Q&A from the last Deutsche Bank ADR Virtual Investor Conference: http://finance.yahoo.com/news/china-xiniya-fashion-limited-present-123100401.html

You can register for the event free even now when it is finished.

The company went through regular IPO and has a well-known and respected auditor. Plus, one of the most famous Chinese super star singer has been representing the company for years. The company's stores and TV commercials appear everywhere in China. It is a household name in China. In the CFO's own words during Q&A:

When asked about the Cash Balance:

Chee Jiong Ng:as reported in 2013Q1, as of March 31, 2013, the Company had cash and cash equivalents of RMB1.0 billion, and time deposits held at banks with maturities of more than three months of RMB220.0 million.

Chee Jiong Ng:GHP has physically and independently verified 100% of Xiniya bank accounts in China on a yearly basis: 1. Confirmation of the cash balance was completed in person at the banks in China, and GHP observed the bank employees printing or otherwise preparing or completing the confirmation request. 2. GHP obtained bank reconciliations prepared by Xiniya. The bank reconciliations listed cash balances per each bank’s records as of the specified date, reconciling items (such as deposits in transit,

Chee Jiong Ng:3. GHP did not note any differences or discrepancies between the confirmation amounts and Xiniya’s records. In additions, GHP reviewed our monthly bank statements.

Chee Jiong Ng:2. GHP obtained bank reconciliations prepared by Xiniya. The bank reconciliations listed cash balances per each bank’s records as of the specified date, reconciling items (such as deposits in transit, outstanding disbursements, etc.) and the resulting cash balance as per Xiniya’s general ledger.

Chee Jiong Ng:The cash will be used for the construction of the new manufacturing and logistic center or just logistic center, implementation of ERP system, looking out for acquisition opportunities.

This stock has been largely forgotten by wall street, but it will not be for long. Clothe market is China is still growing fast and can multiply in dollar amount within years.

[$tockfather]

http://investorshub.advfn.com/boards/read_msg.aspx?message_id=81652923

[Penny Roger$]

~ Monday! $XNY ~ Earnings posted, pending or coming soon! In Charts and Links Below!

~ $XNY ~ Earnings expected on Monday *
Want more like this? Search Keyword: MACMONEY >>> http://tinyurl.com/MACMONEY <<<
One or more of many earnings sites has alerted this security has or will be posting earnings on or around the day of this message.








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<<<<<< http://www.earningswhispers.com/stocks.asp?symbol=XNY >>>>>>



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*If the earnings date is in error please ignore error. I do my best.

[mlkrborn]

XNY $2.98 WITH SHARE PURCHASE PROGRAM: Xiniya Announces Share Repurchase Program of Up to $1.8 Million
Chairman and CFO to also purchase up to $200,000 and $50,000, respectively, of ADSs using their personal funds
prnewswire

Companies:
o China Xiniya Fashion Limited

Related Quotes
Symbol Price Change
XNY 2.98 +0.40
ource: China Xiniya Fashion Limited On Wednesday August 10, 2011, 10:49 am EDT

JINJIANG, China, Aug. 10, 2011 /PRNewswire-Asia/ -- China Xiniya Fashion Limited (NYSE:XNY - News) (or "Xiniya"), announced that its Board of Directors has approved a share repurchase program that will allow Xiniya to buy up to $1.8 million of its American depositary shares ("ADS") in the open market, subject to market conditions and other factors. Any repurchases will be made in compliance with the Securities Exchange Commission's (SEC) Rule 10b5-1. The share repurchase program, will become effective on September 1, 2011, and is authorized to be in effect through December 31, 2012. In addition, Qiming Xu, Xiniya's Chairman and Chief Executive Officer, will purchase up to $200,000 of ADSs with his own personal funds. Chee Jiong Ng, Xiniya's Chief Financial Officer, will also purchase up to $50,000 of ADSs with his own personal funds.

Mr. Qiming Xu, Chairman and Chief Executive Officer, said, "Our Board of Directors approved this share repurchase program to demonstrate its confidence in the long-term growth outlook for Xiniya and its desire to create value for our shareholders. Our good cash position gives us flexibility to continue our growth strategy and to buy our ADSs through the share repurchase plan."

"I believe that Xiniya's shares are currently undervalued and do not reflect the Company's current business momentum and solid long-term growth outlook. Therefore, in addition to our company share repurchase program, I expect to purchase up to $0.2 million of our ADS during the same period of time."

Under the share repurchase program, Xiniya is authorized to repurchase up to $1.8 million of its issued and outstanding American depositary shares from time to time in open-market transactions on the NYSE at prevailing market prices, in negotiated transactions off the market, in block trades, in trades pursuant to a Rule 10b5-1 repurchase plan that allows Xiniya to repurchase its shares during periods in which it may be in possession of material non-public information, or otherwise, in accordance with applicable federal securities laws, including Rule 10b-18.

The repurchases will be made at management's discretion, subject to restrictions on price, volume, and timing. The timing and extent of any purchases will depend upon market conditions, the trading price of its shares, and other factors. The repurchase program does not obligate Xiniya to make repurchases at any specific time or situation.

Xiniya's Board of Directors will periodically review the share repurchase program and may authorize adjustments to the program's terms and size. The Board may also suspend or discontinue the repurchase program at any time.

As of July 31, 2011, Xiniya had 232 million ordinary shares outstanding, represented by 58 million ADSs. Each ADS represents four ordinary shares.

The number of shares to be repurchased and the timing of repurchases (if any) will depend on a variety of factors, including, but not limited to, share price, economic and market conditions and corporate and regulatory requirements. The plan does not obligate the Company to repurchase any shares. The plan is scheduled to terminate on December 31, 2012 or the time at which the purchase limit is reached, but may be suspended or terminated at any time at the Company's discretion without prior notice.


About China Xiniya Fashion Limited

Xiniya is a leading provider of men's business casual apparel in China. The Company designs and manufactures men's business casual and business formal apparel and accessories,

[tburr]

Breakout loooming imo

[chmcnfunds]

Cowen and Company maintained Outperform rating on China Xiniya Fashion Ltd (NYSE:XNY).

http://pennystockpicks.co/penny-stocks/analyst-actions-on-stocks-cha-dang-feng-fmcn-jks-my-xny-jun-23-2011/4675/

XNY

[bgrady]

heard about this stock a few months ago. I think it has potential, but price steadily falling. I feel it might be a buy if it hits 2.50 or lower...