I am updating my staus.
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CCGY does intend to uplist. Don't know if they want to do a R/S or just wait. I'm happy either way.
rich
UTA - zero content
1) The change of accountants was affected by short selling
2) Many auditors have some ACSB weakness or other
3) Kiosk wasn't working and sold out, the correct choice.
rich
LPH - Flying POS! +8% eom
CCCL - I hope they are still in negotiation for the offering
rich
Absolutely, made it through 2010 without hitting the dartboard. Now, I'm a pro.
rich
CAGC - I only glanced over the short accusations. Garreth Tang is the CFO and he was, I think, a large part of the short thesis? Your saying that CAGC are not renewing the contract?
rich
NEP - wasn't NEP OTC until mid 09? Much of that time you wouldn't expect a CC. My question is when you move to a bigger board are you expected to do CC? Or is it not a requirement?
rich
NEP - It's understandable after the number of lawsuits that NEP has had to clam up. I think it's a matter of discussing their plans - clearly. Something has changed with drilling on their property and they need to do some 'plaining. Till then they have a huge and growing cash pile and booming drilling business. If they start talking the pps should go back to where it was pre-shutdown.
From macro perspective: Oil must be the perfect hedge for all this upheaval - lots of eyes must be on their sector.
I hope they do a CC.
rich
CELM - the recent S1 was just a couple of institutions registering to sell some shares they got in the S1 in Jan.
I can't see that they would do another dilution without being an acquisition. The amount of cash they have on-hand and growing means that they should strongly consider becoming a bank.
I don't see why this shouldn't trade up with the other China stocks. It looks like a stock of the highest quality. Certainly the metrics are some of the best in the space. I think the EPS growth which may only become apparent in Q4 may be the reason for the weakness.
Assuming the run in China small cap continues then the nouveau riche are going to want somewhere cheap to put their money.
rich
NEP - think skeptical as new CFO & no preliminary numbers were released. I had to wait 6 months for the last filings I can wait a few extra days this time
rich
BBC Leading-Reporter: "I was wrong about China['s freedoms]"
Humphrys has the highest reporting integrity in the BBC.
Humphrys has a reputation of being a tenacious and forthright interviewer; occasionally politicians have been very critical of his style after being subjected to a tough interview on live radio.[1]
He's been amazed by the loosening of restrictions.
I have been free to go where I want, when I want, and talk to just about anybody I want to talk to without anyone trying to stop me.[2]
I know that people worry about the ethics of investing in China. It's clear it's improving.
rich
[1] http://en.wikipedia.org/wiki/John_Humphrys
[2] http://www.bbc.co.uk/news/world-asia-pacific-11575942
YONG *MrBurns low voice while tenting fingers* "Excellent." eom
rich
YONG - when did they promise to focus on EPS growth? I missed that announcement - something I would certainly appreciate.
rich
CCCL - you always hope that a corporation saves some news for NAZ introduction but that wasn't what I was hoping for. Don't see any numbers in the prospectus yet. I assume that means it's not settled yet?
rich
China's air fleet to triple by 2030
http://www.chinadaily.com.cn/bizchina/2010-11/03/content_11496705.htm
Multidecade growth trend, nice.
rich
UTA&CCME China's air fleet to triple by 2030
http://www.chinadaily.com.cn/bizchina/2010-11/03/content_11496705.htm
Multidecade growth trend, nice.
rich
CNAM - some people questioned it. CNAM had aggressive production figures at the start of the year. They scaled them back mid year and they scaled them back again when this rolling blackout came about. So people, understandably, questioned what was going on.
I'm not saying I agree with that position but that was the view.
rich
LPH - well it was driven up by a newsletter. I can't help feeling someone was waiting for the volume to go down and give it a good shake and see where it takes them.
rich
I'm thinking that might be the case. Seemed very detailed information.
rich
RF, or anyone, did LPH benefit from Uber-traffic-jam?
Louis reckons they did. What I don't understand is that, surely, if traffic is moving it would use up more fuel than traffic stuck in a jam. *If* everyone was diverted through Shanxi province I see his point but I don't think that's what he said.
# In fact, our fuel supplier was one of the biggest profit takers of China’s 13-day-60-mile traffic jam north of Shanxi Province, as the sole licensed fuel distributor in the province. Which is why just about every coal truck had to refill with fuel from our company’s storage facilities. [1]
I guess we'll known soon enough.
rich
[1] http://www.trade4all.com/view_newsletters.php?email_id=22026&thetitle=A+%242+China+Oil+Stock+to+Hit+%245%3A+Buy+Now&desc=...
“Everyone and his dog are now overweight emerging equities, and most stated intentions are to go higher and higher,” Grantham, who helps oversee about $104 billion, wrote in his quarterly letter to clients posted on the firm’s website. Developing nations’ faster expansion “will give a powerful impression of greater value,” he said.
http://finance.yahoo.com/news/DotCom-Bears-Lead-bloomberg-735940941.html?x=0&sec=topStories&pos=7&asset=&ccode=
rich
Even a bit of pre-market. Shame he can't control the buying to be more even. Volatility is good for traders but bad for the subscribers.
rich
YONG - 50% revenue growth (probably 80 again) + margin expansion. I so hope it's $8 in Feb 2011. Hehe
rich
YONG - I think I've asked about this before - good job your patient. Still, does look interesting. This company is ridiculously cheap with or without the margin expansion. Roll on Q1.
rich
YONG Seeking Alpha - +15% to +20% expansion in gross margins is reasonable.
Seems pretty unreasonable to me. Management won't be specific until after Q1's results about possible margin expansion - they say anyway. I was expecting a few percent 3- 5% ish not anything like that. Am I wrong? (I wouldn't complain about being wrong on this matter either)
rich
China to cut central SOEs to 30-50 in 5 yrs
China will reduce the number of its centrally-administered State-owned Enterprises (SOEs) from 123 at the end of September to between 80 and 100 by the end of this year and to 30-50 during the 12th Five-Year Plan (2011-15) period, ce.cn reported on Monday.
http://www.chinadaily.com.cn/business/2010-11/01/content_11485527.htm
I'm reading that as reducing public sector and increasing private.
rich
Loans - I don't think China has got all their loan problems sorted out. Certainly, by raising capital limits, recently, is just another way of reducing the amount banks can loan. There seems on the face of it more demand than supply. Are you seeing otherwise?
My only point was the Agricultural related loans have no restrictions vs other loans. If the argument is YONG can get a loan therefore others should be able to as well then I disagree - agriculture is a protected industry. I could even believe that the 3G/4G buildout is also a high priority of national importance - just putting that out there I don't know.
I'm not saying that CCLTF should or shouldn't be able to get a loan just I wouldn't use YONG as a normal example. Possibly even TSTC dunno *shrug*. Are we seeing, obviously, none critical industries getting loans?
rich
Bank Loans / YONG - as you know the Chinese have reigned in bank loans - the main exception was agriculture [1] where no restrictions were put on - it's too important and an area that needs investment.
rich
[1] http://www2.chinadaily.com.cn/bizchina/2010-04/21/content_9756016.htm
ECRI's Call: No double-dip recession
http://www.businesscycle.com/news/press/1990/
rich
Rare earth production graphic
http://www.chinadaily.com.cn/business/2010-10/29/content_11474770.htm
rich
GRRF - Great information about the bidding process. eom
rich
LLEN - hesitancy to acquire top auditor
Unwilling to pay for a top 4 is a justifiable worry.
The only argument I can see in their defense, I'm not saying I believe it, is that they have been focusing on beefing up their internal controls - getting CAO etc. We've seen CNYD and DYP stumble trying to get a bigger auditor and perhaps they want to make sure they had everything in place before getting in a top firm?
rich
LLEN - the order of events.
31st August
- CC where they got berated by shareholders to improve accountancy
15th Sept
- An 8-K confirming that they re-hired Kabani & Co (vote Sept9th)
- Closes $7 and change on NAZ boards biggest decliners
- Sept CAO announced after hours.
16th Sept
- Task Force to Evaluate Potential Appointments of Auditors
- CAO has 3 Months to recommend [3]
Other Interesting events
Aug 25th
- PR saying our PPS is too low and we are looking at debt instruments (Previous night close 8.58) [4]
Sept 13th
- Management has been excising options [5]
Options
- Credible Accountants
- Bank Loan
- SOX
- Acquisitions
rich
[1] http://www.sec.gov/Archives/edgar/data/1137083/000116854210000054/k_vote2010.htm
[2] http://www.prnewswire.com/news-releases/l--l-energy-announces-new-chief-accounting-officer-102988139.html
[3] http://www.prnewswire.com/news-releases/l--l-energy-commissions-special-task-force-to-evaluate-potential-appointments-of-auditors-103034194.html
[4] http://www.llenergyinc.com/files/LLEN_20100925_Prelim1QResults.pdf
[5] http://www.prnewswire.com/news-releases/l--l-energy-announces-management-share-purchases-102759854.html
[6] http://redchipnews.com/shorts-will-rue-the-day-they-shorted-llen-042/
Indeed. eom
Yes, it's more but diminishing returns eom
rich
BORN article on IBD
IBD grapples with China investing 101.
Little Quote "now that I've built up some following, that I can start selling these articles on a subscription basis."
http://www.investors.com/NewsAndAnalysis/Article.aspx?id=551928&ven=yahoo
rich
LLEN - well, it's going to underperform until they hire another accountancy firm. Anything but Kabani & Co.
If we take them at their word they will hire whoever the CAO thinks is the right accountancy firm but that could be up to 3 months after the announcement on 16th September [1].
There is fear and confusion in the stock owners and it's going to be exploited.
rich
[1] http://finance.yahoo.com/news/L-L-Energy-Commissions-prnews-4081087381.html?x=0
BSPM & SAIC - Low risk as there's little chance of them missing guidance given the PR on Mon. Worth following even for none BSPM holders as he's going to release SAIC filings[1] - wonder if that has any affect on market? Probably not but it's a little more transparency - perhaps other will try to match them?
rich
[1] http://www.smallcapnetwork.com/What-do-ONP-CHBT-DYP-DGW-CGA-and-UTA-Have-in-Common/s/article/view/p/mid/1/id/868/
CELM - Estimates Q3 Rev 30-31M, NI 4.3 to $4.7M and EPS 0.20 to 0.22. FY Rev $110 - 120M. Which means they think Q4 Rev is around $38M NI around 7 Million [1]. So you can see the ramp-up in the Q/Q numbers.
10-K says there's no seasonality "Our business is not seasonal in nature"[2]. 2009 showed no seasonality other than Q1 was weaker, however, they were capacity constrained so doubt it would show anyway.
So, that should play through 2011. The deals they do are short term - this means they react to upswings quickly by adding on new lines of business and of course would be open to a downturn - though they do have a backlog.
Consequently, I can only go on management guidance on estimates.
rich
(response to question - should have said as it's FAQ)
[1] http://szmotor.investorroom.com/index.php?s=43&item=24
[2] http://www.sec.gov/Archives/edgar/data/1421526/000114420410016950/v179203_10k.htm