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Lihua International CEO and COO (husband and wife) Resign
http://www.prnewswire.com/news-releases/lihua-international-announces-resignation-of-ceo-and-coo-258365261.html
It does nothing to deal with the charges of fraud and lawsuit.
Lihua Electron has an A Credit Rating?
Lihua Electron (electronics) is number 75 on the grade A credit rating for Zhenjiang City as per the publication from July 23, 2013.
http://www.zjqts.gov.cn/zwgk/gsgg/201307/W020130725602949974068.doc
This is the Zhenjiang government website.
LIWA is DEAD. See why...
Per my comment on UNEMON1's Seeking Alpha article that brought this company down:
I was just looking for a bounce....not a halt, lol!
Not looking good....
Lihua International to Report Second Quarter 2013 Earnings on Friday, August 9, 2013
Print
Alert
Lihua International, Inc. (MM) (NASDAQ:LIWA)
Intraday Stock Chart
Today : Wednesday 31 July 2013
Click Here for more Lihua International, Inc. (MM) Charts.
DANYANG, China, July 31, 2013 /PRNewswire/ -- Lihua International, Inc. (Nasdaq: LIWA) ("Lihua" or the "Company"), a leading Chinese developer, designer, and manufacturer of low cost, high quality alternatives to pure copper products, including refined copper products and superfine and magnet wire, as well as copper clad aluminum ("CCA") wire, today announced that it will report earnings for the second quarter ended June 30, 2013 on Friday, August 9, 2013, before the start of trading in the U.S.
The Company will host a conference call to discuss the results on Friday, August 9, 2013, at 8:00 a.m. Eastern time. Interested parties may access the conference call by dialing 1-877-941-1427 in the U.S. and Canada, or 1-480-629-9664 internationally.
Despite repeated quarters of double-digit growth, Lihua's (LIWA) stock has failed to rise. A combination of short selling and skepticism towards Chinese RTOs has left LIWA with an unreasonably low stock price despite two independent financial reports confirming the validity of their operations. In their last quarter (3Q), LIWA reported 53.5% year-over-year revenue growth as well as a 27% increase in net income. With a market cap of 160mm and a share price of 5.20, LIWA reported an adjusted EBITDA of 23.6mm, which annualized equates to a 1.43 times EBITDA. Lihua International's balance sheet also shows a lack of debt and $130.5 million in cash on September 30, 2012. As of right now, the company has a book value of $8.00.
Their most comparable Chinese peer, Fushi Copperweld Inc., traded at roughly 5x LIWA's P/E before the company was taken private in December. American peer, Encore Wire Corp. (WIRE), trades at about 8x LIWA's P/E. Both of these comparisons would equate to a value of at least mid 20s on LIWA without even taking into account their cash or growth rate.
http://seekingalpha.com/article/1177821-lihua-international-looks-significantly-undervalued?source=google_news
with options expiring in less than 2 weeks and some shares of liwa sold short i expect stock to move past resistance this week
My Advice: Buy and Hold for a BIG TIME return
Simply put: Long term, China is going to explode and this company is going to be in position to sell a shit ton of cable. Automobile cable is expecially sweet!!!!!
Shanghai daily Saturday page 2
Article on Diapyu islanda
... Derailed Japanese sale of refined copper terms for 2013 failed to be reached ...
Windfall for LIWA???
Buyback Program Needs To Be Implemented.
I know what they said but PPS is near the
52 week low which is insane.I would like
to see managment step up to the plate,sooner
then later.Small buybacks on these low volume days
would help the cause.
http://finance.yahoo.com/q/hp?s=LIWA+Historical+Prices
LIWA, actually when I saw the chart yday I was asking myself the same. I think LIWA is one of the legit one's at least from my limited DD view so I'm puzzled by the underperformance lately.
I missed the YEAR on that post - never mind. Any idea why the falling knife now?
To be honest I haven't bookmarked it and since it was over a year ago I don't remember off hand which site it was. I will try to find it.
Traderfan, link to hit piece?
~ Monday! $LIWA ~ Earnings posted, pending or coming soon! In Charts and Links Below!
~ $LIWA ~ 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.
http://stockcharts.com/h-sc/ui?s=LIWA&p=D&b=3&g=0&id=p88783918276&a=237480049
http://stockcharts.com/h-sc/ui?s=LIWA&p=W&b=3&g=0&id=p54550695994
~ Google Finance: http://www.google.com/finance?q=LIWA
~ Google Fin Options: hhttp://www.google.com/finance/option_chain?q=LIWA#
~ Yahoo! Finance ~ Stats: http://finance.yahoo.com/q/ks?s=LIWA+Key+Statistics
~ Yahoo! Finance ~ Profile: http://finance.yahoo.com/q/pr?s=LIWA
Finviz: http://finviz.com/quote.ashx?t=LIWA
~ BusyStock: http://busystock.com/i.php?s=LIWA&v=2
<<<<<< http://www.earningswhispers.com/stocks.asp?symbol=LIWA >>>>>>
http://investorshub.advfn.com/boards/post_prvt.aspx?user=251916
*If the earnings date is in error please ignore error. I do my best.
Good days finally come. Enjoy them!
LIWA, I am holding my shares as well. It will likely be double digits if the mkt turns. Have always liked this stock, Joe
I think that LIWA is winning the war here against shorters. I am a long term investors here.
LIWA, shorts drove the stock down again with BS. Looks like LIWA is a very good buy again. Going to buy another lot to add to what I have, Joe
10% drop after hit piece. It should have dropped 30% and then it makes sense ro me. This is a rather weak hit piece. Expect the share price to recover after Q earning report on August 9.
Big drop in LIWA today due to a hit piece.....
$11 - 12 is easy in the next 3 months. I am looking for over $20 in 1.5 - 2 years. Not going to take fast profit in this one.
LIWA, awesome play and still way under valued. Look for 11 to 12 dollars this summer. Joe
20 SMV cross 50 DMA. Uptrend is established. It is good for both short and long term play.
Another strong performance. 2.9 million short short shares plus share buy back from the company should continue pushing LIWA higher.
LIWA, Global Hunter must be a little sick at the recent downtrend in LIWA when they state is has a 20 dollar price target. Joe
Very bullish report out $20 target...link to report at bottom of post...
Highlights
In order to verify LIWA’s stated copper smelting capacity and utilization rates from both an input and output basis, we spent 24 hours at its facility observing operations as well as following its delivery trucks to clients’ facilities in order to verify customer and tonnage shipped. We arrived at LIWA’s facility in the morning on March 10, 2011, giving the company less than 24 hours notice prior to our arrival. During our time at Lihua’s facility, we witnessed the delivery and unloading of copper scrap, the pressing and bundling of scrap into rectangular blocks, loading of these blocks into the smelter, the actual smelting process and the extraction of melted copper into either rod or anode form. Being there for 24 hours allowed us to observe the whole operating cycle and to time the process in order to be able to true up Lihua’s daily smelting capacity, which can be extrapolated into an annual capacity. We have also followed three of Lihua’s trucks to the customers' facilities to verify the deliveries. Additionally, we approached and spoke with Lihua’s workers, truck drivers and people unloading trucks at customers' facilities.
We believe the recent pullback in share price offers an excellent entry point. Lihua’s share price has declined about 20% from the recent highs of ~$11.90 during the last week, while the company reported strong Q4 and FY2010 results, filed its 10-K without any glitches or delays, eliminated all material weaknesses from its annual report and became SOX compliant. In addition, during the last few weeks the company hosted a number of investor meetings and facility tours at its Danyang facility, all of which went very well (to our knowledge). We believe that the recent pullback in share price was attributable to the growing negative sentiment towards the overall US-listed China space, as well as the recent macroeconomic events and nothing related to company specific business or fundamentals. At yesterday’s closing price of $9.46, the stock is trading at only 3.3x FY2011 cash adjusted P/E basis (LIWA has ~$3.00 in net cash as of year-end 2010) and 2.4x FY2011 EV/EBITDA basis.
Several near-term catalysts should create value for investors.
· Awarding of the license for import of 100k MT of scrap copper in Q2 2011.
· Auditor upgrade to a Big 4 firm in Q2 or early Q3.
· Additional sell-side coverage.
· Doubling existing copper smelting capacity to 100k MT in 2H 2011.
· Announcement of further capex plans following the installation of the two new smelters.
Reiterate Buy and $20 price target. Our $20 price target is predicated on 10.3x FY2011 P/E and 6.4x EV/EBITDA multiples. In our opinion a target price of $20 is justified by Lihua’s impressive margins and profitability, strong operating cash flows, positive demand trends for copper consumption and pricing and the robust capital expenditure plans that are expected to double existing capacity by Q3 2011. Lihua also has a solid balance sheet with a net cash level of $88MM, (or almost $3 per share), a current ratio of 5.6x, a cash conversion cycle of under 40 days and has generated ttm ROE and ROA of 35% and 29%."
https://ghsecurities.bluematrix.com/docs/pdf/30725391-b672-4028-a78f-a6778264d5cd.pdf?co=Ghsecurities&id=ghsresearch@ghsecurities.com&source=mail
LIWA, is getting close to a bounce off these levels. Some serious change was thrown around on it today. Watch for a bounce this week into next. I will add more in the AM. 10 seems strong for a bottom. Any chart guys out there looking at this one? Good luck with your trades, Joe
Not sure, but definitely coming up soon. I'm looking to add more if it dips below $10 again.
LIWA, any word on earnings? Etrade lists the 13th as earning date. Damn shame that LIWA continues to struggle with such an awesome PE going forward. I think the 10 dollar range is looking solid as a recent bottom. Hope it holds in here. I am thinking of buying a tad more for the longer haul. It is likely LIWA cranks up production with their purchase of additional space. Joe
Apologies for not keeping this board updated.
Q3 was definitely solid and the capacity build out for next year seems well on track. Looking for this baby to hit > $2FD eps next year. With their cash generation and earnings rates I would be surprised if this does not get to $20 within the next 12 months.
Lihua changes auditors to Crowe Horwath.
http://finance.yahoo.com/news/Lihua-International-Names-prnews-1788417668.html?x=0&.v=97
DANYANG, China, July 21 /PRNewswire-Asia/ -- Lihua International, Inc. (Nasdaq:LIWA - News) ("Lihua" or the "Company"), a leading Chinese developer, designer, and manufacturer of low cost, high quality alternatives to pure copper products, such as refined copper products and superfine and magnet wire, including copper clad aluminum ("CCA") wire, today announced that it has appointed Crowe Horwath (HK) CPA Limited to serve as the Company's independent registered public accountants effective July 16, 2010.
Crowe Horwath replaces AGCA, Inc., as Lihua's independent registered public accountants. The change in accounting firms was approved by the Company's audit committee and was not the result of any dissatisfaction with the level of service provided by AGCA or any disputes relating to matters of accounting principle or practices, auditing procedures or financial statement disclosures.
"Crowe Horwath HK operates under the banner of one of the top 10 public accounting and consulting firms in the world. As we continue to grow our Company we believe that engaging an independent auditor of this caliber is paramount to supporting our future financial growth goals," said Jianhua Zhu, Chairman and CEO of Lihua. "We are confident that, going forward, we will continue to receive the high level of commitment to which we are accustomed, with access to a broader range of services and the support of a larger, global organization."
About Lihua International, Inc.
Lihua, through its two wholly-owned subsidiaries, Lihua Electron and Lihua Copper, is a leading value-added manufacturer of copper replacement products for China's rapidly growing copper wire and copper replacement product market. Lihua is one of the first vertically integrated companies in China to develop, design, manufacture, market and distribute lower cost, high quality alternatives to pure copper magnet wire and pure copper alternative products. Lihua's products include CCA and pure copper products including copper wire and copper rod, which are produced from recycled scrap copper. Lihua's products are sold in China either directly to manufacturers or through distributors in the wire and cable industries and manufacturers in the consumer electronics, white goods, automotive, utility, telecommunications and specialty cable industries. Lihua's corporate and manufacturing headquarters are located in the heart of China's copper industry in Danyang, Jiangsu Province. For more information, visit: http://www.lihuaintl.com .
To be added to the Company's email distribution for future news releases, please send your request to lihua@tpg-ir.com.
Global Hunter initiating coverage with $16 price target.
Pro Forma EPS estimates are:
2010: $1.21
2011: $1.99
EBITDA estimates are:
2010: $49.7MM
2011: $83.8MM
Rodman update: doubt cast on blogger's claims:
http://investorshub.advfn.com/boards/read_msg.aspx?message_id=50644709&txt2find=liwa
"Rodman defending LIWA on accounting issues
An investor, short on LIWA, published an article on May 09, 2010 claiming that he found discrepancies between LIWA’s filings with SEC vs. their filings with SAIC (China’s State Administration of Industry and Commerce).
Following this development, LIWA’s management provided original scanned SAIC filings of its two subsidiaries, Lihua Copper and Lihua Electron, along with a reconciliation report on its website to substantiate the consistency of its financial reports. We have gone through the posted SAIC filings, which were officially filed on May 17, 2010 (after the May 09 article was published). Reviewing the posted SAIC filings we found the consolidated balance sheet and income statement numbers of the two subsidiaries (excluding internal transactions) to be in line with numbers in LIWA’s SEC 10-K filing. Investors should also note that the annual financial results filed in China on May 17, 2010 (the auditor disclaimer report was signed and issued on April 20, 2010) have been reviewed and approved for its credibility by SAIC.
US listed Chinese companies continue to trade at a significant discount relative to their peers partly due to lack of investor confidence in accounting and transparency practices. Companies that are complacent on this front will find it difficult to win investor trust and therefore lose out on being assigned an appropriate multiple. We believe LIWA’s management team recognizes the importance of improving on these fronts and is working on making appropriate changes."
LIWA business update --
DANYANG, China, May 24 /PRNewswire-Asia/ -- Lihua International, Inc. (Nasdaq:LIWA - News) ("Lihua" or the "Company"), a leading Chinese developer, designer, manufacturer, marketer and distributor of low cost, high quality alternatives to pure copper products, such as refined copper products and superfine and magnet wire, including copper clad aluminum ("CCA") wire, today provided an update on several key business initiatives including customer growth and production capacity expansion.
Growth in Customer Base:
Since the beginning of 2010, the Company has added 30 new customers, bringing its total customer count to approximately 330. This represents a 10% increase in Lihua's customer base compared with 300 customers on December 31, 2009.
"The momentum from our strong first quarter performance has continued into the first half of our second quarter, as we have added 30 new customers since the beginning of the year and continue to expand agreements with our existing customers," said Jianhua Zhu, Chairman and CEO of Lihua. "Volume demand continues to exceed manufacturing capacity, and we are working diligently to expand capacity in an effort to better address this significant opportunity."
Mr. Zhu added, "Lihua is uniquely positioned as a provider of low-cost alternatives to pure copper, with a business model that allows us to pass raw material exposure to our end customers. As such, our business is relatively unaffected by changes in commodity pricing. Based on our proprietary refinery technology, which qualifies our refined, recycled, high-purity material as pure copper, we are able to maintain a material cost advantage over other suppliers of pure copper products who require newly-mined or imported copper."
Production Capacity Expansion:
In order to meet increasing market demand, Lihua has been aggressively expanding both its scrap copper refinery and wire production capacity. Additionally, Lihua is considering an expansion of its portfolio of refined copper products to address a broader range of customer requests. During the first quarter of 2010, Lihua added two new proprietary high-speed production lines, increasing annual capacity to 20,000 tons. The Company plans to further increase both its copper wire and CCA wire production capacity during the remainder of the year. With the net proceeds of $32.5 million from its April 2010 public offering, Lihua is planning to complete a land purchase for the construction of a new smelting facility in the fourth quarter of 2010, and expects this new facility to come on line during the fourth quarter of 2011. Lihua expects to add 75,000 tons of annual smelting capacity upon completion of the new facility.
"We are working hard to expand our scrap copper refinery capacity, while continuing the previously announced expansion of our copper wire and CCA wire drawing capacity. With clear market advantages and a compelling demand environment, we expect to achieve growth consistent with our guidance throughout the remainder of the year," Mr. Zhu concluded.
2009 SAIC Annual Report Filing:
On May 14, 2010, the Company filed the 2009 annual reports of its two Chinese operating subsidiaries (Lihua Electron and Lihua Copper) with the State Administration for Industry & Commerce (SAIC) in the People's Republic of China. The SAIC is the Chinese government agency responsible for issuing and renewing companies' business licenses. The SAIC reports were prepared in accordance with Chinese accounting rules and policies, and reflect financial information relating to Lihua Electron and Lihua Copper on an unconsolidated basis. By giving effect to reconciliation adjustments, the results contained in these reports are consistent with results reported in the Company's audited financial statements as filed with the U.S. Securities and Exchange Commission. The original filing documents are available on Company's website: at www.lihuaintl.com .
2010 First Quarter Results:
On May 5, 2010, Lihua reported sales of $63.2 million for its first quarter ended March 31, 2010, an increase of 208% over the first quarter of 2009. Gross profit increased 107% year-over-year to $11.8 million. Net income for the quarter was $7.4 million, or $0.28 per share, an 85% increase over $4.0 million or $0.18 per share for the year-ago period.
Additionally, in conjunction with the release of its first quarter 2010 results, the Company raised its full-year 2010 gross profit and net income guidance. Lihua now expects its 2010 gross profit to be between $48.9 million and $50.7 million, and non-GAAP net income to be between $35.1 million and $36.3 million. This compares with previous guidance of $47.1 million to $48.9 million in gross profit and $34.6 million to $35.8 million in net income.
About Lihua International, Inc.
Lihua International, through its two wholly-owned subsidiaries, Lihua Electron and Lihua Copper, is a leading value-added manufacturer of copper replacement products for China's rapidly growing copper wire and copper replacement product market. Lihua is one of the first vertically integrated companies in China to develop, design, manufacture, market and distribute lower cost, high quality alternatives to pure copper magnet wire and pure copper alternative products. Lihua's products include copper-clad aluminum wire ("CCA") and pure copper products including copper wire and copper rod, which are produced from recycled scrap copper. Lihua's products are sold in China either directly to manufacturers or through distributors in the wire and cable industries and manufacturers in the consumer electronics, white goods, automotive, utility, telecommunications and specialty cable industries. Lihua's corporate and manufacturing headquarters are located in the heart of China's copper industry in Danyang, Jiangsu Province. For more information, visit: http://www.lihuaintl.com .
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Company Website: http://www.lihuaintl.com
SEC Filings: http://www.sec.gov/cgi-bin/browse-edgar?action=getcompany&CIK=0001399521
Profile (per 2013 10-K Filing): We are a vertically integrated company in China which develops, designs, manufactures, markets and distributes low cost, high quality refined copper products including copper anode, copper rod, pure superfine copper wire, and copper-clad aluminum superfine wire (“CCA”), which is an alternative to pure superfine copper wire. We also use recycled scrap copper as a raw material to produce refined copper products including copper anode and copper rod. Copper anode is the raw material for copper cathode, which is the fundamental building block for pure copper products. We use the copper rod we produce as raw material for the production of pure copper wire. Primarily because of its high electrical conductivity, pure copper wire is used in many components in a wide variety of motorized and electrical appliances such as dishwashers, microwaves and automobiles. In most instances, our CCA wire and refined copper rod and wire products are an excellent, less costly substitute for pure copper cable and wire products.
We sell copper anode primarily to a few large copper cathode producers in China. We sell our rod and wire products to down stream manufacturers including fine and superfine wire processors and small and micro electronic motor manufacturers who in turn sell to the consumer electronics, white goods, automotive, utility, telecommunications and specialty cable industries. Our track record and reputation for producing high quality products in large quantities has paved the way for expansion of our customer base. In the PRC, the market for copper products is large and growing. As a result, there is solid demand for all of our products. Essentially all of our product sales are made to domestic customers in the PRC.
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