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If the company is real then it should buy the block. Less than $1.5mm now.
Why is Shah adding? I dunno. The stock is still cheap, but the value of the business has fallen pretty substantially. It's a roach motel that's on fire. Hopefully Shah can exert enough influence to prevent a total loss.
Re: XNY
20-F looked terrible. No conference call. Most comps reported weak 2H15 results and weak 2016 orders.
XNY has 14.3mm shares o/s. If the market cap drops under $15mm then it will be delisted by the NYSE. That didn't go well for Zuoan. The red line is at a share price of $1.05. Is management going to defend it?
Interesting. I have no position here. It looks to me like the most promising path would be for UMW to go to court in the Cayman Islands claiming that the parent company has been abandoned and seeking the appointment of an independent trustee to resolve its affairs. If successful then the trustee could take control of the operating subsidiaries outside China (especially WSP Pipe thailand) and any other assets which can be traced. The onshore Chinese business (Wuxi Seamless Pipe) is probably a total loss.
The blue chip electric bus play is Zhengzhou Yutong (600066).
ZX is a decent e-bus play with their aluminum wheels and a strategic partnership with Zhengzhou Yutong. The last 2 ccs have provided a lot more information about the outlook for these products and the company's Chinese website has some good info: http://www.zenixauto.com/yfzx/
CXDC is also a decent play on EVs because they have higher plastic content/vehicle than traditional cars.
Yeah, for SORL the retracted buyout is a concern. The price was unfairly cheap and then the guy walks away with no explanation. I think it stays in the penalty box until they do something to show that they care.
Re: SORL
Do you have the right stock? SORL makes brakes (or "braking systems"). Mostly for commercial vehicles, including buses, and that includes electric buses.
The stock is cheap. It's just desperate for some kind of signal from management that they care. Pay a dividend. Buy some shares. Make some news.
SPU to resume trading on Nasdaq.
http://globenewswire.com/news-release/2016/04/25/832452/0/en/Nasdaq-Scheduled-Resumption-in-SkyPeople-Fruit-Juice-Inc.html
It looks like identity theft. Maybe they scan the list of lapsed Nevada registrations for companies with public stock. They file papers to take control and hope that nobody is paying attention to any of the details.
Re: SPU
Reminds me of CCCL. It replaced its auditor on the day the 20-F was due (4/30) and was suspended until the 20-F was filed (August).
CCCL had an international CFO and a good quality auditor. SPU has neither.
Re: SVA
Sounds like a standard poison pill.
Insider offer for SVA was $6.18. Competing offer came at $7.00.
Most likely gets sold to the highest bidder. Insider buyer group is the CEO (11%) and SAIF private equity fund (19%). So the CEO does not own enough by himself to block a deal.
Here's the Desheng site:
http://dzd.wddcn.com/vshop/index.html?sid=21773&uid=93308
I think it's designed from the start for viewing on phones/tablets.
Funny thing about this strategy is that I think XNY is about to copy it (launch its own multi-brand MLM type mall).
Re: SPU
I'd be wary of basing an SPU investment on "cash" or financials since the CFO left and it looks like his replacement has no international qualifications.
Worth noting that the stock has a market cap of $9mm and according to today's news an investment fund just paid $20mm for 26% of the Chinese operating business (implying a value of $56mm for the 73% retained by SPU).
http://finance.yahoo.com/news/skypeople-announces-share-transfer-subsidiary-120000699.html
ihub doesn't show chinese characters. Here are google search results for Desheng:
https://www.google.com/webhp?sourceid=chrome-instant&ion=1&espv=2&ie=UTF-8#q=%E5%BE%B7%E5%8D%87%E6%97%B6%E8%A3%85
Re: CNYD
I have no idea. Flaky company. It's either worth a lot more than $3 or it;s worth zero.
Or maybe there has been some fakery in the financials and the buyout is a way to bury it.
VIPshop flash sales
Looks like zuoan has had some recent activity:
http://brand.vip.com/ZUOAN/comment/
See also customer feedback on tmall/taobao:
https://rate.taobao.com/user-rate-UvFcWMCQYMGxWMQTT.htm?spm=a1z10.1-b.d4918101.1.ki7pHq
https://rate.taobao.com/user-rate-UOmvbvm8WOFH0.htm?spm=a1z10.1-c.0.0.IsCdVx
Different company? I don't think Zuoan ever did anything with Wellington Shields.
Looks like a great candidate to relist at a premium in HK/SH/SZ
CAAS explodes higher
don't see any new news
I think that's just hype. XIN filed SEC correspondence that occurred during that period related to regular review of financials.
http://www.sec.gov/Archives/edgar/data/1398453/000000000014061059/0000000000-14-061059-index.htm
$KGJI
China’s gold demand rose ~4% YoY to 986 tons in 2015 amid declining prices,
volatile stock market and weak currency, per China Gold Association. This was
below peak demand of 1,176 tons in 2013. Jewelry demand was up 2% to 722
tons, bar consumption up 5% to 173 tons and coin buying rose 78% to 23
tons. Country’s gold output declined for the first time in ~20 years to 450 tons
(-0.4% YoY) in 2015 as some small private producers halted operations.
(Bloomberg Finance LP)
Not that I'm aware of. Company continues doing business as before.
Zuoan director Wenxin Zhu is Chairman of a company that has filed to list on China's "New Third Board". On page 29 of the listing document it shows his company affiliations including serving as an independent director of Zuoan Fashion Ltd.
http://file.neeq.com.cn/upload/disclosure/2016/2016-01-27/1453879954_314367.pdf
If Zuoan were considered defunct or disgraced then it would probably not have been mentioned.
Re: CHLN
The cashout price is $3
------------------------
The Company intends to engage in a transaction that is structured to reduce the number of record holders of our common stock, par value US$0.001 per share (the “Common Stock”) to fewer than 300, thereby allowing us to terminate registration of our Common Stock under Section 12(g) of the Securities Exchange Act of 1934, as amended (the “Exchange Act”) and suspend our duty to file periodic reports and other information with the Securities Exchange Commission (the “SEC”) thereunder. This transaction will eliminate the significant expense required to comply with the reporting and related requirements of being a publicly traded company in the U.S. Often referred to as a “going private” transaction, the transaction (the “Transaction”) will consist of a reverse stock split of our Common Stock, whereby each 50,000 shares of the outstanding Common Stock will be converted into one whole share of our Common Stock (the “Reverse Stock Split”), and, in lieu of us issuing fractional shares to stockholders who would hold fractional shares as a result of the Reverse Stock Split, we will pay cash equal to US$3.00 (the “Cash Payment”) multiplied by the number of pre-Reverse Stock Split shares of Common Stock held by such stockholder underlying the corresponding fractional shares. Accordingly, stockholders owning fewer than 50,000 pre-Reverse Stock Split shares will have no further interest in the Company, will no longer be stockholders of the Company and will be entitled to receive only the Cash Payment multiplied by the number of pre-Reverse Stock Split shares of Common Stock owned by them. Stockholders owning at least 50,000 pre-Reverse Stock Split shares, who after the Reverse Stock Split will continue as stockholders but own a fractional share as a result of the Reverse Stock Split will receive a Cash Payment based on their pre-Reverse Stock Split share equivalent of their fractional share.
Re: CHLN
Totally bizarre how people are paying over $3 for the stock. Guaranteed loss in 2 weeks.
$CYD $XNY
Shah Capital added shares in 4Q
http://whalewisdom.com/filer/shah-capital-management
JST - huge bids today
Doesn't look like somebody taking a view an the evolution of the market for electrical switchgears.
Nice to see that VIS VIRES is done, but it's disturbing that a company with $85mm of cash on the financial statement was dealing with those vultures.
Re: UTSI
cc didn't seem to have any tangible details to push the price higher. People have been pitching a thesis that Phicomm is going to acquire UTSI or launch a tender offer to buy more shares or do a reverse merger of its Chinese business into UTSI. All they disclosed today was working together on solutions for data centers.
Ticker should be CCM
I doubt that it's due to market maker due diligence because there are confirmed frauds with quoted prices (e.g. LIWA).
Lgsteel is a related party btw - they failed to mention it in their PR.
Sutor has had a steel ecommerce business for several years
http://jinying365.com/
It looks like a strong offering, but everything in China is very competitive. A few steel eocmmerce companies are listed in China and trading at super-high valuations
Hard to express any strong view about TOR until they finish their 6/30 financials. Was probably held up by the SEC review that concluded in December.
People are trying to hype it as the next GSI. Possibly correct.
SGOC +38% even though pumpers don't seem to have come back in yet.
https://twitter.com/search?q=%24sgoc&src=typd
RENN directors resign
Probably means no action for a while on the buyout offer
------------------------------------------------------------------------
BEIJING, Dec. 31, 2015 /PRNewswire/ -- Renren Inc. (NYSE: RENN) ("Renren" or the "Company"), a leading real name social networking internet platform in China, today announced the resignation of Mr. Matthew Nimetz and Mr. Katsumasa Niki as directors of the Company, effective December 31, 2015. The board of directors of the Company (the "Board") is in the process of evaluating candidates for a new independent director of the Company.
"On behalf of the Board, we would like to thank Mr. Nimetz and Mr. Niki for their valuable contributions to Renren over these years," said Renren's Chairman and Chief Executive Officer, Mr. Joseph Chen.
DSKY definitive agreement reached at $14
No change from preliminary offer.
SGOC acquisition
Could be brilliant move into a trendy field (energy efficiency) with high growth potential or a promotional scam
http://www.prnewswire.com/news-releases/sgoco-group-ltd-announces-acquisition-of-boca-international-limited-300197821.html
http://pcm-tes.com/images/BocaPCM%20Catalogue-2010-B.pdf