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CNTF "You are getting the company for free at 3.9 "
Indeed, it's unreal...
CNTF And a great guidance for 4Q.Revenue in the range of US$ 74.0 million to US$ 77.0 million
CNTF TechFaith 3Q10 Revenue Exceeds High-End of Prior Guidance. Revenue for the fourth quarter of 2010 to be in the range of US$ 74.0 million to US$ 77.0 million
- 3Q10 Revenue Increases 30% to US$68.6 Million Compared to 3Q09
- 3Q10 Gross Margin of 24% Compared to 19% in 3Q09
BEIJING, Nov. 23, 2010 /PRNewswire-Asia/ -- China TechFaith Wireless Communication Technology Limited (Nasdaq: CNTF) ("TechFaith" or the Company) today announced its unaudited financial results for the third quarter ended September 30, 2010.
For the third quarter of 2010, TechFaith reported net revenue of US$ 68.6 million (RMB 464.3 million), a 30% increase compared to US$ 52.8 million (RMB 360.7 million) in the third quarter of last year. Gross margin for the third quarter of 2010 was 24% compared to 19% in the same quarter last year. Income from operations for the third quarter of 2010 was US$ 9.0 million (RMB 60.9 million), a 61% increase compared to US$ 5.6 million (RMB38.3 million) in the same quarter last year. Net income attributed to TechFaith for the third quarter of 2010 was US$ 4.3 million (RMB 29.1 million), compared to a loss of US$ 3.4 million (RMB 23.2 million) in the same quarter last year. Third quarter of 2010 results reflect the non-cash impact of a US$ 3.3 million loss due to IDG's conversion in the quarter of US$ 6.25 million convertible bonds into TechFaith ordinary shares and the remaining US$3.75 million into shares of TechFaith's gaming subsidiary 798 Entertainment, compared to a US$9.2 million non-cash loss in the same quarter last year as a result of change in fair value of derivatives associated with the convertible note.
Ms. Ouyang Yuping TechFaith's CFO, said, "Revenue in the third quarter exceeded our prior guidance and reached another record level for TechFaith. In addition to the higher revenue levels, the successful implementation of our business strategy is resulting in a more stable gross margin. Continued growth in our branding business, QIGI, was led by strong demand for existing phone models, along with initial shipments of two new high end smartphone models into the China market. TechFaith remains in a position of operating strength with continued growth expected in each of our operating units, along with a continued strong balance sheet with approximately US$3.70 per ADS in cash and cash equivalents."
Mr. Deyou Dong, President and COO of TechFaith in charge of the company's mobile business said, "Our focus in the mobile business has been on market expansion and profitable unit growth. To achieve this we have cooperated with global leading brands, built our enterprise business and acquired the QIGI branded phone business. In the case of QIGI, total shipment volume increased 20% in the third quarter of 2010 compared to the second quarter of 2010. This improvement was driven by growth in the domestic smartphone market and demand from enterprise mobile phones users. QIGI's fast growth is in line with our expectations and we expect our branded mobile phone business to become one of our major business segments. To support the expected growth, we recently announced the planned addition of a major 10 million-unit capacity smartphone production line. As for our ODP business, we expect continued stability in revenue and gross margin to continue from the China, India, South East Asia, Middle East and Latin America Markets."
798 Entertainment Management Change
The Company announced the appointment of Mr. Tony Kong as the CEO of 798 Entertainment. Mr. Kong, who joined TechFaith four years ago, has served as director in the sales department, and President of 17Wee. His performance and strong experience in the motion gaming business are expected to help drive growth and further success in the gaming business. Mr. Defu Dong, Chairman and CEO of TechFaith, will continue to serve as the Chairman for 798 Entertainment.
Mr. Tony Kong, CEO of 798 Entertainment, said, "We continue to make progress in our gaming business. We are particularly excited about our Motion and Mobile games, where our 17Wee unit is generating positive market feedback because it is clearly differentiated and gives us a competitive edge. Awareness was rapidly built during the China Tennis Open as 17Wee was one of the official sponsors, and produced a virtual tennis competition in conjunction with the live event. Various motion gaming accessories, including the 17Phone, have been launched to enhance the game experience, which is more entertaining and healthier."
Fourth Quarter 2010 Outlook
The below forecast reflects TechFaith's current and preliminary view, which is subjected to change. TechFaith currently expects revenue for the fourth quarter of 2010 to be in the range of US$ 74.0 million to US$ 77.0 million, with gross margin levels similar to the third quarter of 2010.
Looking forward, Mr. Defu Dong, Chairman and CEO of TechFaith added: "We expect further sequential growth based on the strength of our core ODP, branding and expanding gaming business, with increased business momentum in 2011."
XNY China Xiniya Fashion prices IPO at $11, the high end of the range
11/22/10
China Xiniya Fashion, a Chinese designer and manufacturer of men's business casual apparel & accessories, raised $88 million by offering 8 million ADSs at $11, the high end of its proposed $9-$11 range. The Jinjiang-based company, which generated $123 million in sales and a 33% operating margin over the past twelve months, plans to use the proceeds for expansion of its manufacturing capacity and marketing efforts. China Xiniya Fashion plans to list on the NYSE under the symbol XNY on Tuesday and carries a market valuation of $638 million at the IPO price. Cowen & Company acted as the lead underwriter on the offering.
View IPO Profile: XNY
FMCN Highlights for Third Quarter 2010:
Total net revenue for the third quarter of 2010 was $137.4 million, of which
Aggregate net revenue from the LCD display network (including the movie theater network), in-store network and poster frame network was $128.4 million, which exceeded by approximately 6% the mid-point of the Company's guidance range of $120-123 million. It represented an increase of 14% from $112.2 million for the second quarter of 2010 and an increase of 45% from $88.7 million for the third quarter of 2009;
The net revenue from the traditional outdoor billboard network for the third quarter of 2010 was $8.9 million. The net revenue of the internet business from July 1, 2010 till July 31, 2010, the date of disposal, was $16.8 million. The internet business was reclassified as discontinued operations for all periods presented due to disposal in the early part of the third quarter of 2010 and hence, the net revenue of $16.8 million was not included in the total net revenue of $137.4 million. For detailed results of Internet business, please see note 2 to unaudited condensed consolidated statements of operations. Aggregate net revenue from the traditional outdoor billboard network and Internet advertising services (through the date of disposal) for the third quarter of 2010 was $25.7 million, which exceeded by approximately 23% the mid-point of the guidance range of $20-22 million.
GAAP net income attributable to Focus Media was $112.7 million, compared to $25.3 million for the second quarter of 2010, and net loss attributable to Focus Media of $127.6 million for the third quarter of 2009. The GAAP net income for the third quarter of 2010 includes a non-recurring income of $79.0 million resulting from the sale of our Internet business.
Non-GAAP net income attributable to Focus Media for the third quarter of 2010 was $51.8 million, also exceeding the mid-point of Company's guidance range of $48-$49 million by 7%, compared to non-GAAP net income attributable to Focus Media of $44.3 million for the second quarter of 2010 and non-GAAP net income attributable to Focus Media of $7.9 million for the third quarter of 2009. Please see below section on "Use of Non-GAAP Financial Measures" for more information about the non-GAAP measures referred to within this announcement.
GAAP net income attributable to Focus Media per fully diluted ADS was $0.76, compared to $0.17 per fully diluted ADS for the second quarter of 2010 and a loss of $0.99 per ADS in the third quarter of 2009.
Non-GAAP net income attributable to Focus Media per fully diluted ADS was $0.35, compared to $0.30 per fully diluted ADS for the second quarter of 2010, and $0.06 per fully diluted ADS for the third quarter of 2009.
10 Amigos
CCME
SIHI
NIV
CNTF
KNDI
ALIF
XING
DHRM
CELM
LLEN
CNTF Anyone holding this one?
STV China Digital TV Declares Special Cash Dividend to Shareholders. CCME needs a move like this...
BEIJING, Nov. 22, 2010 -- /PRNewswire-Asia/ -- China Digital TV Holding Co., Ltd. (NYSE: STV) ("China Digital TV" or the "Company"), the leading provider of conditional access ("CA") systems to China's expanding digital television market, today declared a special cash dividend of US$2.00 per share on the Company's ordinary shares, par value US$0.0005 per share, to be paid in two installments of US$1.00 each during 2011. Each of the Company's American depositary shares represents one ordinary share.
Shareholders of record as of the close of business on December 23, 2010, U.S. Eastern Standard Time, will be eligible to receive the dividend. The first installment of the dividend is expected to be paid on or around January 13, 2011, and the second installment is expected to be paid in due course after the completion of the ongoing dividend repatriation process by the Company's PRC subsidiaries.
Mr. Jianhua Zhu, China Digital TV's Chairman and Chief Executive Officer commented, "Our Board of Directors believes that a special dividend is an efficient use of cash to maximize shareholder value at this time. Meanwhile, our robust cash reserves and consistent, healthy operating cash flow are sufficient to support our multiple growth objectives."
As of September 30, 2010, China Digital TV had cash and cash equivalents, restricted cash and short-term investments totaling US$252.5 million, or US$4.30 per share on a diluted basis.
Read more: http://www.sunherald.com/2010/11/22/2658297/china-digital-tv-declares-special.html#ixzz160zGHcCM
Read more: http://www.sunherald.com/2010/11/22/2658297/china-digital-tv-declares-special.html#ixzz160z0mrWW
DADA looks like another Cramer China pick
SIHI still up on the AH 3.15
SIHI It sure is a sign of strenght. This company will rock in the near term. Those 3M shares traded a couple of days ago indicate something is going on. No way the good results would provoque such a move IMHO.
CCME what a nasty eod sell off...
"anyone follow PXPLY?"
When you posted this question it was up 23%. Now it's up 63%. Great shot Maj!
LLEN Been on this one since mid 8s. Still believe that when it jumps, it will jump big. Earnings should be good and the report from the independent auditors must be out soon...keeping my fingers crossed...
WTF? You should sue them. Cheeky bastards. LOL
SIHI why do you expect that they announce a smart phone contract ?
TIA
SIHI
Top 10 Focus Stocks of The Day: CACB, LDSH, SIHI, CMED, HYC, GTLS, ISTA, UCBI, DAKT, CHS (Nov 18, 2010)
Posted: 18 Nov 2010 07:28 AM PST
Below are today's top 10 focus stocks. These momentum stocks are attracting a lot of interest from traders. Two Chinese companies (SIHI, CMED) are on the list.
SinoHub Inc (AMEX:SIHI) is today's 3rd best focus stock. Its daily price change was 22.1% in the previous trading day. Its upside potential is 73% based on brokerage analysts' average target price of $5 on the stock. It is rated positively by 100% of the 5 analyst(s) covering it. Its long-term annual earnings growth is 20% based on analysts' average estimate.
http://www.cnanalyst.com/2010/11/top-10-focus-stocks-of-the-day-cacb-ldsh-sihi-cmed-hyc-gtls-ista-ucbi-dakt-chs-nov-18-2010.html?utm_source=feedburner&utm_medium=email&utm_campaign=Feed:+cnanalyst+(China+Analyst+-+News+and+Research+on+U.S.-Listed+Chinese+Stocks)
DHRM I've traded DHRM from the 3s to the 7s, and when it got there there was a huge sell off. Fundamentals were good then, what makes you think it won't happend again?
TIA
http://investorshub.advfn.com/boards/read_msg.aspx?message_id=54168726&txt2find=dhrm
SIHI Great stuff. Thanks. eom
SIHI it would be a dream if it could have the same pattern. Let's wait and see...Volume was crazy...
SIHI wow almost 3M shares??? 3 months average 80.000.
CHNG Probably. They're pirates alright! LOL
CNTF did they issued some guidance for this Q ? Do they normally manage to achieve the guidance, or UPOD?
I might start a position before the ER....This could jump 20% or more with good numbers.
TIA
CNTF I love the company. Great numbers indeed. Have you checked their 17Phone ? It's a mobile phone and a Wii command at the same time. They made a nice aquisition recently for 7M: 798 Entertainment Limited
SIHI Hey Jo,
here's a post I left on the board on the 12th of November.
SIHI Some numbers and estimates
Based on the strong results through the first nine months of 2010, Management raised FY 2010 revenue guidance to $192 million from the prior guidance of $180 million, representing anticipated year-over-year growth of approximately 50% over 2009.
This means that, taking on account the results from the previous Qs we'll have, according to my estimates, the following numbers for the 4Q:
»Revenue 53,72M
»Net Income 5,29 (using a net margin equal to the one achieved this Q of 9,85%)
» EPS 0,185
This gives us an EPS for 2010 of 0,605 which means that SIHI at current levels is trading at a PER of 4.
A PER of 4 for a company that:
» Will have a growth of 50% this year versus 2009.
» That has a new 77,500 sq. ft. manufacturing facility located in the Bao'an district of Shenzhen, China, to strengthen its new custom design mobile phone business unit.
» In Q4 2010 SinoHub intends to install two more high speed surface mount lines to increase total motherboard production capacity to roughly 450,000 per month.
» During its first nine months of operations, the VCM business generated $38.7 million of revenues, with gross margins of 17.8%. Management expects VCM margins to improve further as it makes further improvements in operating efficiencies and product mix, while shifting away from contract printed circuit board assembly production work toward greater production of the Company's own products.
» VCM will be a significant growth driver in 2011, which means higher margins and a too good to ignore bottom line.
IMHO this company is a bargain at present levels and deserves at least to be trading at a PER of 10, which means a PPS of $6.
Again I invite you guys to take a look at the company's website www.sinohub.com/. Very informative and you can even take a tour to the company's factory http://www.sinohub.com/investors-factory%20tour.html.
http://investorshub.advfn.com/boards/read_msg.aspx?message_id=56644551&txt2find=sihi
CCME yeah, and LLEN's http://www.lnlinternational.com/
For me this one is the best. http://www.naturalgaschina.com/ Check the dancing bears. Put your speakers at work so you'll have the full experience. The first time i visit the site I was laughing for hours. Actually when I'm feeling kind of down I go to CHNG's site and feel better after LOL
SIHI isn't this of the best and most informative websites in the CGS space? I mean, if you take a look at some company's websites it looks like they were made on weebly by the CEO son...
SIHI Something is up . More than 1M shares in less than 2 hours and up 18%. weeeeeeeeeeeeeeeeeeeeeeeeeeeeeee
SIHI don't know man. The volume is unreal. There's no way that with such fundamentals this co. can trade less than $5. No way...
LLEN anyone knows when they'll host the ER?
SIHI more than 600.000 shares(average is 87.000) and up 15%.
SIHI there she goes. Finally!!!
CCME finally a green day.
ALIF Big money getting into the company. Arbat Capital bought 8,2% of ALIF's shares.
http://yahoo.brand.edgar-online.com/displayfilinginfo.aspx?FilingID=7556409-1336-15231&type=sect&TabIndex=2&companyid=3407&ppu=%252fdefault.aspx%253fcik%253d1070361
ALIF Big money getting into the company. Arbat Capital bought 8,2% of ALIF's shares.
http://yahoo.brand.edgar-online.com/displayfilinginfo.aspx?FilingID=7556409-1336-15231&type=sect&TabIndex=2&companyid=3407&ppu=%252fdefault.aspx%253fcik%253d1070361
I have a strong tendency to be overweight just when i should be locking in profits.
I know perfectly what you mean ...
have a safe trip.
AERL Not any more...
AERL that's the only green stock in my portfolio at moment...ouch...