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Shareholder meeting tommorow to approve the merger! Can't wait for the formalities to be over and done with so we can move forward with this exciting and profitable venture.
The auto consumption of China is turning on high-speed development, and sales of new vehicles are growing increasingly. Relative analysis shows that, in the first quarter, the gross margin of listed auto companies was basically the same as that in previous year. Passenger car companies have been in the peak of industrial prosperity during the same period of last year and they had achieved performance at a rather high level. In comparison with passenger car companies, commercial vehicle companies grew much more rapidly. At present, the passenger car industry mainly relies on private consumption and new vehicle purchase, and has entered a fast growing period. Insiders reckon that in the foreseeable 5 years, the growth rate of passenger car sales will probably maintain at a level of not less than 25 percent.
http://en.ce.cn/Insight/200705/25/t20070525_11487064.shtml
Seems like China Auto Sector going to start getting more exposure. Lots of consolidation going on, plus it's much cheaper to make cars in China anyways. Many bigs companies are looking in China Auto Industry now....
GM interested in Chinese auto companies ->
http://uk.reuters.com/article/tnBasicIndustries-SP/idUKSHA1941620080724
SHANGHAI, July 24 (Reuters) - Chinese pickup truck maker Hebei Zhongxing Automobile Co is in talks with General Motors (GM.N: Quote, Profile, Research) and major Chinese automaker FAW Group to explore opportunities for cooperation, including possible equity ties, a source close to the situation said on Thursday.
"Consolidation is inevitable in the Chinese auto market, which now has more than 100 players, and a company of Zhongxing's size makes a good takeover target or joint venture partner," the source told Reuters.
"Zhongxing is holding talks with several potential partners including FAW and GM to seek cooperative opportunities, including possible equity ties, but nothing has been decided at the moment," one of the sources said.
A Zhongxing spokesman could not immediately be reached for comment and an FAW executive declined to comment.
GM's China spokesman Henry Wong also had no direct comment on the matter.
"We are a big auto company so we are always out there looking for opportunities and in discussions with everybody around the world. I don't actually have information on discussions in China," Wong said.
Zhongxing, a second-tier player in China's auto industry but a major maker of pickups and sport-utility vehicles, expects to sell about 45,000 vehicles this year, including 15,100 overseas. It sold about 36,000 units last year, with exports at roughly 10,000 units.
The source gave no specifics about Zhongxing's discussions with GM, which runs two ventures with China's top automaker SAIC Motor (600104.SS: Quote, Profile, Research) making cars and minivans. Continued...
interesting, I take it you got those for the July 30th meeting?
from yahoo-->
China June auto sales.......... 16-Jul-08 11:53 am China June auto sales up 15.35 pct yr-on-yr at 836,800 units
14 Jul 2008
Xinhua Newsfeed
BEIJING (XFN-ASIA) - Automobile sales in China rose 15.35 pct year-on-year in June to 836,800 units, with output up 13.96 pct at 837,200 units, the China Association of Automobile Manufacturers said.
The association said in a statement that passenger vehicle sales rose 4.2 pct last month from a year earlier to 588,400 units, while commercial vehicle sales were up 15.58 pct at 248,400 units.
In the first half, total auto sales grew 18.52 pct from a year earlier to 5.18 units with passenger vehicle sales up 17.07 pct at 3.61 mln and sales of commercial vehicles increasing 21.98 pct to 1.57 mln units.
Big News on DIAS from yesterday. DIAS is a wholly owned subsidiary of Componus, Inc., which will be merging into JPCI shortly:
Detroit International Auto Salon & Guangzhou Auto Parts and Accessories Global Sourcing Center Pen Agreement
15 July 2008 @ 08:00 am EST
http://www.ibtimes.com/prnews/20080715/mi-dias-aagsc-agree.htm
ALLEN PARK, Mich., July 15 /PRNewswire/ -- Componus, Inc's subsidiary, theDetroit International Auto Salon (DIAS), and the Guangzhou Auto Parts andAccessories Global Sourcing Center (AAGSC) of Guangdong Province, Chinaannounced today the completion of a cross promotional agreement between thetwo premier year-round automotive exposition centers.
"This agreement is a culmination of our mutual business interests since2007," says Michael Wesney, President of DIAS. "Our 300,000 square footshowcase facility is very complementary of the AAGSC footprint in China."
AAGSC holds up to 5,000,000 square feet in facilities comprised of anenterprise headquarters tower, exhibition and trading center, auto parts area,auto accessories area, logistics area, and two services areas, about 30minutes from downtown Guangzhou city, one of the most populous cities of China.
"I'm looking forward to our mutual success in promoting qualifiedautomotive suppliers between our two facilities," said Mr. Zhang Yong Gong,General Manager of AAGSC. "The agreement with the Detroit International AutoSalon brings public exposure and excitement for our companies in the twolargest automotive markets in the world."
About the Detroit International Auto Salon:
The Detroit International Auto Salon ("DIAS"), is a wholly ownedsubsidiary of Componus, Inc., the largest independent, year-round, globalexhibition center for automotive products, with a focus on innovation andstate-of-the-art-technology. For more information about Componus, pleasevisit http://www.componusinc.com. DIAS cooperates with the Wayne CountyEconomic Development office, Wayne County Airport Authority, Detroit RegionalEconomic Partnership, Michigan Chinese Academic & Professional Association,and GlobalAutoIndustry.com with innovative initiatives to revitalize the localeconomy. Please visit http://www.detroitautosalon.com for more information.
About the Guangzhou Auto Parts and Accessories Global Sourcing Center:
The Guangzhou Auto Parts and Accessories Global Sourcing Center ("AAGSC")was established in 2006, to serve as a central focal point for the automotiveindustry in the Guangdong Province. Formulated with private and governmentinvestment capital, this year-round facility holds up to 5,000,000 square feetof exposition and showcase areas on multiple floors. For more information,visit http://www.vparts.com.cn or contact its professional staff from GlobalMarketing Department at globalmarketing@vparts.com.cn or at F50, Sixth FloorGrand International Square Yongfu Road, Guangzhou, China. Direct phone line:+86-20-62682275
PNC broke under $50, next stop? $30's?
http://boombustblog.com/index.php?option=com_content&task=view&id=374&Itemid=34
http://boombustblog.com/component/option,com_myblog/show,Additional-data-on-PNC.html/Itemid,20/
http://boombustblog.com/component/option,com_myblog/show,A-new-look-at-the-leverage-on-PNCs-books.html/Itemid,20/
I think we could possibly see PNC under $40 shortly...
Big headline on Yahoo!!!
http://finance.yahoo.com/banking-budgeting/article/105391/Analysts-Say-More-Banks-Will-Fail
PNC August 37.5 puts may be a great risk/reward play here....
I like the name change to DIAS Holding Inc. as well; definately a more appropriate name. Maybe another YNOT-FRLK here?
News Out.....
JPC Capital Partners, Inc. Files Definitive 14C Regarding the Acquisition of DIAS Holding, Inc. and a Special Shareholders Meeting
Thursday July 10, 10:56 am ET
ALPHARETTA, GA--(MARKET WIRE)--Jul 10, 2008 -- JPC Capital Partners, Inc. (OTC BB:JPCI.OB - News), a licensed broker-dealer based in Alpharetta, Georgia, announced today that it has filed its Definitive 14C with the Securities and Exchange Commission setting the date for a special shareholder meeting. The shareholder meeting will be held on July 30, 2008 to authorize the steps necessary to complete the acquisition of DIAS Holding, Inc. DIAS Holding Inc. f/k/a Componus, Inc. ("Componus"), is a Nevada Corporation involved in the multi-billion dollar industry of providing automotive, trucking, railway and petroleum industries with raw, finished and assembled components.
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As previously announced on March 26, 2008, JPC Capital executed a stock purchase agreement and share exchange with Componus. The Agreement provided for the acquisition of Componus by JPC Capital Partners, Inc., whereby Componus will become a wholly owned subsidiary of JPC Capital. In connection with the acquisition of Componus, and after taking into effect a 2 for 1 reverse split of JPC Capital common shares, JPC Capital will issue 89,000,000 total shares of common stock. This will represent approximately 87.25% of the total issued and outstanding common stock of JPCI after the transaction is closed. These shares will be issued in exchange for all of the issued and outstanding shares of Componus. Upon completion of the Closing, Componus intends to elect a new board of directors and appoint new officers. Shareholders owning a controlling interest in JPC Capital have indicated that they intend to vote to approve the acquisition. Upon such vote, JPC Capital expects to complete the acquisition on July 31, 2008.
"We look forward to completing the acquisition of Componus," stated Jack Canouse, chief executive officer of JPC Capital. "We believe that this acquisition is in the best interest of our shareholders and will gain positive attention in the public markets. As the big three US automakers suffer record low sales and earnings due to overwhelmingly high cost in the US, we believe Componus is strategically positioned to exploit the multi-billion dollar metal forging and automotive supply industry between the US, China and other certain Asian countries."
Preliminary unaudited figures provided by Componus indicates that its sales increased to $3,418,102 for the three month period ended March 31, 2008 from $2,178,449 for the three month period ended March 31, 2007. The $1,239,653 or 57% increase in sales reflects deliveries for repeat and new products ordered by existing clients, whose demand increased from the previous year. Gross profit increased to $1,070,042, or 31% of sales, for the three month period ended March 31, 2008 from $704,849, or 32% of sales, over the three month period ended March 31, 2007. The increase reflects the proportional rise relative to sales compared to the previous year.
Upon review of Componus's unaudited first quarter results, Jack Canouse stated, "We are very pleased with the continuing growth and strength of Componus's operations, and we are excited about the future opportunities created by the Componus acquisition."
http://biz.yahoo.com/iw/080710/0414804.html
'our interest' will be on Friday, -->
Part 3: The Fast Lane — Fri., July 11, at 10 p.m. ET/PT
China's streets have gone from being jammed with bicycles to being jammed with cars. The nation is adding 25,000 new vehicles to its roads every day — that's more than 9 million a year — and the government is building tens of thousands of miles of new highways. As millions of new drivers hit the road, this newfound freedom is bringing more accidents, more traffic and more pollution.
China will soon become the world's largest producer of cars as well as the biggest market for new cars. Foreign automakers like GM and Ford are already enjoying huge success in China — today, more Buicks are sold in China than in the U.S. Meanwhile, Chinese automakers are planning an assault on the U.S. market with low-cost cars and they hope to be in American showrooms as early as next year.
Ted Koppel on China.. Discovery Channel tonight
Synopsis of the dvd of the show from their website… sounds like the transportation market as well as the economy will be touched on- (i bolded the most relevant to us)
Product Detail:
Join Ted Koppel and his team of producers as they take an in-depth look at modern-day China in Koppel: The People's Republic of Capitalism. In the wake of the catastrophic earthquake in Sichuan province and on the eve of the Beijing Olympics, this comprehensive four-part series explores America's economic relationship with China as well as capitalism's effect on the Chinese people.
Joined At The Hip
The American and Chinese economies are irreversibly intertwined. Trace the interconnected web of US/China trade, from Mexican migrant workers in North Carolina to a Chongqing teenager working on a boombox assembly line.
MAOism to MEism
The population redistribution of the city of Chongqing, combined with the emergence of capitalism, is having a dramatic effect on Chinese culture. Meet a cast of characters in and around Chongqing as they examine the central issues of traditional values, religion, sexuality and political freedom.
The Fast Lane
China's streets have gone from being jammed with bicycles to being jammed with cars. Learn how the Chinese car culture is changing China and America and how Chinese automakers are planning an assault on the U.S. market with low-cost cars.
It's The Economy, Stupid
Examine the downsides of China's booming economy. Explore the thorny issue of human rights and learn how China's economy continues to thrive despite the suppression of free speech and the iron fist of the Communist party.
GM, Ford report strong China sales
Tuesday July 8, 6:48 am ET
GM, Ford say China sales rise sharply as automakers look to Chinese buyers to drive growth
BEIJING (AP) -- General Motors and Ford reported first-half sales grew strongly in China's booming auto market Tuesday, a rare bright spot for global automakers.
GM said sales of its Buick, Chevrolet and Cadillac brands rose 12.7 percent from the first half of last year to 590,126 vehicles. Ford Motor Co. said its sales rose 21 percent from the year-earlier period to 172,411 vehicles.
Growth was weaker than the stunning rates reported in 2007, when Ford's China sales grew by 30 percent. But they still were far stronger than in North America, where automakers are idling factories amid a severe sales downturn.
"The Chinese vehicle market has continued to grow in 2008, setting a new first half sales record," said Kevin Wale, president of GM China, in a written statement.
Auto sales have been driven by fast-rising incomes in an economy that is forecast to grow by at least 9 percent this year.
General Motors Corp. said its growth was driven by the popularity of its Chevrolet brand, which saw sales jump 34.6 percent in the first half to 109,131 units.
U.S., European and Japanese automakers and their local partners are investing heavily to expand production and sales in China, the world's second-largest vehicle market after the United States.
"Despite challenging events that had significant impact in China and on the economy as a whole this year, we were still able to achieve healthy growth through the first six months," said Robert Graziano, president and CEO of Ford Motor China, in a written statement.
Auto sales in China have been largely unaffected by high global oil prices because government controls have kept retail gasoline and diesel prices at levels that are among the world's lowest. Automakers say sales of SUVs and luxury sedans are growing at annual rates of up to 100 percent.
http://biz.yahoo.com/ap/080708/china_gm_ford.html?.v=3
PNC starting to crack now finally as it should and head much much lower as the other financials did. Looking for it to trade under $40 by or in August.
Yes I like the new name as well. It leaves the door open also in terms of the word "Holding". Do they possibly have some nice tricks up their sleeve and are going to be bringing other businesses in as well? Very exciting to say the least.
Looking good today, last trade $1.05
Looks like PNC is starting to collapse now. Has a long way to fall and with earnings July17th I would think that their outlook will be grim to say the least.
Drilling should be commencing here shortly now...will be really interesting. I think $2+ will be realized here sooner rather than later.
How about PNC, I think this one is lagging the other financials and is due to fall hard.
Seems like suppliers from China are doing very well.....
China Automotive Systems Announces 2008 Second Quarter Preliminary Results
Monday June 30, 9:30 am ET
Revenue Expected to be Over US$ 52 Million
EPS Expected to be Between US$0.18 and US$0.22
WUHAN, Hubei, China, June 30 /Xinhua-PRNewswire-FirstCall/ -- China Automotive Systems, Inc. (Nasdaq: CAAS - News), a leading power steering components and systems supplier in China, today announced preliminary results for the second quarter of 2008, with revenue expected to be over US$52 million compared with US$36 million in the second quarter of 2007, reflecting over 43% year-over-year growth. In the 2008 second quarter, diluted earnings per share (EPS) are expected to be between $0.18 and $0.22, compared with second quarter 2007 diluted EPS of $0.10.
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The 2008 second quarter results were highlighted by solid performances across China Automotive Systems' business segments and strong cash flow from operations. China Automotive Systems has also renewed their contracts with all of its key customers.
''We are very confident about the favorable market outlook for our long-term growth. Despite the slowdown of the US and European auto market, the Chinese domestic auto market maintains a healthy growth momentum. Also, with the rising fuel price in China, most of our large OEM customers, who are economy car manufacturers, will benefit from increasing market demand for small-size vehicles. We strive to continue to win new contracts and expand our production capacity to increase our earnings, and further enhance our long-term shareholder value," Mr. Qizhou Wu, Chief Executive Officer of China Automotive Systems, commented.
About CAAS
Based in Hubei Province, People's Republic of China, China Automotive Systems, Inc. is a leading supplier of power steering components and systems to the Chinese automotive industry, operating through seven Sino-foreign joint ventures. The Company offers a full range of steering system parts for passenger automobiles and commercial vehicles. The Company currently offers 4 separate series of power steering and 307 models of power steering with an annual production capacity of 1.1 million sets, steering columns, steering oil pumps and steering hoses. Its customer base is comprised of leading Chinese auto manufacturers such as China FAW Group, Corp., Donfeng Auto Group Co., Ltd., Brilliance China Automotive Holdings Ltd., Beiqi Foton Motor Co., Ltd. and Chery Automobile Co., Ltd., etc. For more information, please visit: http://www.caasauto.com .
MDTL looks to be turning around here.....
You still have you PNC July and August puts? Also, they are to report earnings on July 17th one day before the July options expire.
Pyramid Petroleum to Raise Up to $15.0 Million by Way of Convertible Debenture Offering
Thursday June 26, 9:01 am ET
CALGARY, ALBERTA--(Marketwire - June 26, 2008) - Pyramid Petroleum, Inc. (TSX VENTURE:PYR - News; "Pyramid" or the "Company") is pleased to announce that it has engaged Research Capital Corporation to act as lead agent (the "Agent"), on a best-efforts basis, for an offering (the "Offering") of up to $15.0 million in convertible debentures of Pyramid. The indicative terms of the Offering include, among others, that the convertible debentures shall have a term of 5 years, shall bear an interest rate of 8.5% per year, with interest payments to be made semi-annually, and shall be convertible into common shares of the Company at any time following the closing of the Offering at a price that represents a premium of 25% to the 30-day volume-weighted average share price of Pyramid prior to the closing of the Offering.
Proceeds from the Offering shall be used to fund development drilling, work-overs and exploration on the Company's oil and gas properties, as well as for working capital and to take advantage of select acquisition opportunities in the Gulf of Mexico, the Company's core area of operations.
Pyramid currently anticipates the closing of the Offering will occur in August 2008 but closing may occur earlier or later, as the Company and the Agent may determine and is subject to regulatory approval.
http://biz.yahoo.com/ccn/080626/200806260470968001.html?.v=1
News out this morning.....
JPC Capital Partners, Inc. Update on Proposed Acquisition
Wednesday June 25, 8:30 am ET
DETROIT, MI--(MARKET WIRE)--Jun 25, 2008 -- JPC Capital Partners (OTC BB:JPCI.OB - News) previously announced that it has filed a preliminary Form 14C Information Statement with the Securities and Exchange Commission (SEC). The primary purpose for the filing was in regards to the acquisition of Componus, Inc. by JPCI. JPCI and Componus are working together to update the consolidated financials through March 1, 2008 for submission to the SEC, after which they anticipate proceeding with the acquisition.
http://biz.yahoo.com/iw/080625/0410240.html
Are you in SHNDW and if so at what price?
I also have some Aug 37.5 puts on PNC in addition to my July 52.5 puts.
Interesting article on the strong potential from Chinese auto industry
http://biz.yahoo.com/twst/080612/zgj802.html?.v=1
Nice News!!! Pyramid Petroleum Pays Off Entire Revolving Demand Loan
Thursday June 19, 9:38 am ET
CALGARY, ALBERTA--(Marketwire - June 19, 2008) - Pyramid Petroleum Inc. (TSX VENTURE:PYR - News) today announced that it has closed the sale of its 5.84% interest in its Montana and Alberta properties in addition to the purchase of 25% interest in the offshore properties within Brazos 440 block in the Gulf of Mexico, as announced on April 26, 2008. From the sale proceeds of $6.3 million, $4 million was used to repay the revolving demand loan with the balance being used for working capital and the initial payment for the Brazos 440 purchase. With this payoff, Pyramid's remaining debt is approximately $3 million.
Pyramid Petroleum CEO Ilyas Chaudhary stated, "With the complete payoff of the revolving loan, Pyramid is following through with its initiative to positively position the Company for its future growth strategy in addition to adding shareholder value."
About Pyramid Petroleum
Pyramid Petroleum Inc. is an oil and gas exploration and production company with substantial upside through its strategically located operations in the Gulf of Mexico. Shares of the Company are listed for trading on the TSX Venture Exchange under the symbol "PYR."
http://biz.yahoo.com/ccn/080619/200806190469508001.html?.v=1
Nice News!!! Pyramid Petroleum Pays Off Entire Revolving Demand Loan
Thursday June 19, 9:38 am ET
CALGARY, ALBERTA--(Marketwire - June 19, 2008) - Pyramid Petroleum Inc. (TSX VENTURE:PYR - News) today announced that it has closed the sale of its 5.84% interest in its Montana and Alberta properties in addition to the purchase of 25% interest in the offshore properties within Brazos 440 block in the Gulf of Mexico, as announced on April 26, 2008. From the sale proceeds of $6.3 million, $4 million was used to repay the revolving demand loan with the balance being used for working capital and the initial payment for the Brazos 440 purchase. With this payoff, Pyramid's remaining debt is approximately $3 million.
Pyramid Petroleum CEO Ilyas Chaudhary stated, "With the complete payoff of the revolving loan, Pyramid is following through with its initiative to positively position the Company for its future growth strategy in addition to adding shareholder value."
About Pyramid Petroleum
Pyramid Petroleum Inc. is an oil and gas exploration and production company with substantial upside through its strategically located operations in the Gulf of Mexico. Shares of the Company are listed for trading on the TSX Venture Exchange under the symbol "PYR."
http://biz.yahoo.com/ccn/080619/200806190469508001.html?.v=1
That looks like the link that was not working before, but I can tell you that they updated it significantly since it went down. This is looking like one of the most undervalued plays I have seen in quite some time.
This should bring even more revenue to drillers......
Bush to Congress: Embrace energy exploration now
Wednesday June 18, 1:50 pm ET
By H. Josef Hebert, Associated Press Writer
With gas prices reaching record highs, Bush wants Congress to lift ban on offshore drilling
WASHINGTON (AP) -- With gasoline topping $4 a gallon, President Bush urged Congress on Wednesday to lift its long-standing ban on offshore oil and gas drilling, saying the United States needs to increase its energy production. Democrats quickly rejected the idea.
"There is no excuse for delay," the president said in a statement in the Rose Garden. With the presidential election just months away, Bush made a pointed attack on Democrats, accusing them of obstructing his energy proposals and blaming them for high gasoline costs. His proposal echoed a call by Republican presidential candidate John McCain to open the Continental Shelf for exploration
"Families across the country are looking to Washington for a response," Bush said.
http://biz.yahoo.com/ap/080618/offshore_oil.html
pnctb a good one too imo....
Yeah no stock goes straight up, A little consolidation is healthy. Pyramid will see the $4-$5 range before you know it. We have the toronto exchange listing coming as well as AMEX.
Looks like a very reputable PR/Media firm, nice to see.
http://www.mostwellintl.com/
well the august ones should be safe then....
Yes it definately does, the only question is when? Hopefully in a few months time, by august