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I'm not a fan of late filing either. Am holding my shares, but now adding until they file and I see the growth.
Check out CHFI.OB, (China Finance) a difficult one to value, but looks ready to head back up off recent lows. I'm starting to but that one too. I have a feeling management is buying shares down here now and am waiting for Form 4s to confirm.
Thanks. I try to stick to facts and fundamentals and not hype...althought sometimes I get excited with a new find that's just insanely undervalued. I'm buying one now called China Finance (CHFI.OB). They own a bunch (3.3M shares) of CNOA, and a bunch of GFRE, SYST, and others. Stock sold off big time (from $5/share last year to under a dime) and looks like it's starting to head back up now.
Found this website- it's their wholly owned subsidiary in China
"Shenzhen Hua Yin Guaranty and Investment Limited Liability Corporation"
http://www.cficcn.com/en/
So far so good- it does look like a bottom is in, and I've started dipping my toes in this one.
I just emailed the company and asked for an update...asked if they were going to announce a share buyback or if management was going to buy on the open market, or if they could provide a corporate update on potential new clients in the wings.
URGGHHH
This non filing is for the birds. Hell, we're nearly half way through 2009 and still waiting on their 2008 numbers.
3 Million Tons is the combined annual capacity from the 6 mines
Got an email from Laby Wu (CFO) that they're looking at 3 million tons annual capacity out of the 6 mines (combined total).
I don't know the quality/heat capacity of the coal, which makes a big difference in price. But taking the lowest grade of coal, and pricing it conservatively at $50/ton, we're looking at $150M in revenues. This assumes they are able to successfully extract and sell 100% of estimated capacity...but even if they are only able to sell half the capacity at a conservative $50/ton, we're looking at $75M in revenues.
Another beaten down China microcap that's at a PE under 2 and excellent fundamentals (the best I've seen in a stock under $1/share) is Puda Coal Inc., PUDC.OB
I believe Puda Coal (PUDC.OB) will rally big when they get government approval to add 6 coal mines to their revenue mix... and given their extremely strong balance sheet and cash position, they should have no problem funding their big 6 coal mine expansion.
Some initial dd here:
http://investorshub.advfn.com/boards/read_msg.aspx?message_id=37303514
Yea, it looks strong. I'm trying to get some info. on the coal mines they're trying to aquire- how much coal tonnage can be recovered annually from the 6 mines combined. Then we can guesstimate revenue/income increases.
Puda Coal presenting to fund managers/investors in NYC on May 18
China Rising Investment Conference
http://www.chinarisingconference.com/index.html
New website and IR presentation
Website
http://www.pudacoalinc.com/
Presentation
http://www.pudacoalinc.com/images/11-06-2008%20Puda%20Coal%20Profile%20v4.pdf
Put me down for Puda Coal (PUDC.OB)
And here's why:
http://investorshub.advfn.com/boards/read_msg.aspx?message_id=37303514
Also must have some Puda Coal (PUDC.OB) to go with your CHGY.
Look at the PUDC.OB balance sheet and recent news from this week and tell me that stock won't be above .50 soon.
I'm starting to buy PUDA COAL, and here's why
I've been a follower of PUDA for some time now (about two years) and never bought the stock until now. It seemed to me there were other China microcaps that were more attractively priced based on growth rates, PE ratio, and earnings growth potential during 2007 and 2008 so I never bought shares.
That is no longer the case- PUDA is now one of the absolute best bargains out there in China microcaps!
In 2008, PUDC had:
Excellent growth rates- even into Q4 of 2008
47% revenue growth in 2008 vs. 2007
57% increase in net income 2008 vs. 2007
eps of .16 in 2008 = trailing PE of 1.75
Balance sheet:
Cash balance was $39,108,000 as of December 31, 2008 (or .37/share)
Current assets = $81M vs. current liabilities = $14M for a current ratio of 5.7
Total long term liabilities = $11M
Total stockholders’ equity = $72M
Book Value = .68/share
And earnings growth for 2009 and 2010 could be explosive with the news they announced this week:
"Puda Coal Receives Local Government Approval to Restructure Six Coal Mines in Shanxi Province"
http://finance.yahoo.com/news/Puda-Coal-Receives-Local-prnews-14983478.html?.v=45
And finally, the new CFO here, Laby Wu, is as good as I've ever seen in a China microcap. I've had a few occasions to contact her via email and phone (back when she was CFO at Nasdaq-listed SNEN), and it comes through loud and clear that she is the consummate professional. While she never will dilvulge anything that would be considered 'insider" information, she was always (and I mean 100% of the time) quick in responding, and as forthright as she could be (within SEC guidelines) in providing information/answers to questions.
I can't find another China microcap under $1/share that has the combination of revenue and eps growth rates, cash/share, book value, low trailing PE (under 2 still!), low debt, a current ratio of nearly 6(!), and potential for explosive growth in 2009-2010 that PUDA COAL has.
Try Ameritrade or (much better IMO) Fidelity.
I've heard other people complain about Scott Trade not letting them buy China microcaps or other smal cap/penny stocks. You might want to try to cal in your order first, and tell them if they don't fill your order that you'll move your account. This has worked for others.
GL
no- I'm not recommending FUFW over CYXN....only saying that FUFW looks like a good turn-around candidate with .17/share cash and monthly run rate/expense of only about $240,000 according to their filing. I think they'll survive and by profitable again...makint a buy at under .10/share a great bargain if you can deal with the lack of liquity/low trading volume, and be prepared to hold for a few months.
I'm still a CYXN shareholder also....although I lightened my positions when I saw their dilution. I'd also like to see them add more stores as their business plan calls to do...but not sure they can do it with cash flow from operations. To contrast, I do believe LTUS can damn near fund their big expansion with cash flows. See their news today- they're stepping up the facility construction to complete it by end of THIS year.
You like negative cash flow from operations, a current ratio of 0.4, and management's deception of not informing shareholders that their coal mine wasn't even operational (and won't be until AT LEAST the end of the current quarter?)
Buy all you want here. I'm not.
I sold mine off except for some free trading shares.
To CHGY management:
FOOL ME ONCE, SHAME ON YOU.
FOOL ME TWICE, SHAME ON ME.
On a positive note, LTUS has some BIG news out today on their expansion- they're steppin' it up a notch.
News today on 10-K...but here's the BIG NEWS:
"Management has decided to start the construction of Inner Mongolia plant buildings on May 9, 2009 and to attempt to complete it by the end of 2009."
LTUS is FULL STEAM AHEAD.
(Amazing what $10M in cash flow every quarter can let you do, isn't it?)
video from last fall on Fuda Faucet Works
http://blog.redchip.com/index.php/2008/headline/getting-to-know-fufw/
Website:
http://www.jxfuda.com/
SEC Filings- this was a very profitable company in the first 9 months of the year.
http://ih.advfn.com/p.php?pid=news&cb=1240268598&symbol=NB%5EFUFW&old_symbol=NB%5EFUFW&from_month=1&from_day=1&from_year=2001&order=desc&to_month=12&to_day=30&to_year=2011&selsrc[0]=edgar&email=Enter+Email+Here&elists=1%7C3%7C7&sec=1
well, this one's not my pick for this week, but it looks good
FUFW.OB (Fuda Faucet Works)
Turn-around story just coming off bottom.
My rather extensive research on this company has lead me to believe that they'll return to profitability when they report Q1 in a few weeks.
cheers
well, I began entering LTUS at .18 and am buying another one now that looks at least as cheap as LTUS at .18
FUFW.OB (Fuda Faucet Works). It's another China micro- very unknown/thinly traded.
They made great money in the first 3/4 of last year, and were smacked hard by the global real estate slowdown (as you can guess by their name, they make faucets for homes and businesses).
I have done a LOT of research on Fuda Faucet, (10-k analysis, phone calls, emails, etc. to the company, their financiers, even their auditor) and believe they'll not only survive, they'll return to profitability- perhaps as soon as when they report Q1 (by May 15). It's a good turn-around story that I believe will have a happy ending.
Terrible report-especially when so many were expecting .10/share +.
I'm out of the shares I got at .17
FUFW.OB (Fuda faucet Works) looks like a better turn-around play for less money. At least they file on time, made more in one q last year than CHGY has in their history, and will probably return to profitability in Q1 of this year, which they should report in May.
GL
Incidentally, I am NOT suggesting to sell CGDI to buy FUFW....only that FUFW deserves a look if you like turn-around candidates.
OT/ While waiting for the 10-K here, I've been looking at another China microcap that's been badly beaten down and barely trading now.
FUFW.OB (Fuda Faucet Works)
Looks like a potential turn-around candidate. I've done a lot of research on it, emails, calls etc. and think it's worth a modest position here.
Incidentally, I probably look at 30+ china microcaps before buying a single share of one.
CYXN at .08 was like that, as was CDGI at .10, and now FUFW.OB
I have some initial dd posted on the FUFW board that I'll add to soon.
10-K out last week. Not exactly pretty due to a terrible 4th quarter, and explains the share price action. I have done hours and hours of research on Fuda Faucet over the last few days. I've emailed and/or called the company, as well as their major funding source (Barron Partners), and their auditor, and have determined that FUFW is an excellent turn-around candidate whose fate and current state of health will become much more widely known when they report Q1 results next month.
A few points to consider here.
Despite having a lousy 4th quarter last year, there is NO "Going Concern" in their 10-K filing. Not only that, they do have access to funding should their operating cash flow be insufficient to meet their needs over the next q or two. I don't want to get into names/exact details here, but suffice it to say that I personally believe that FUFW is a STRONG BUY here.
I will post further dd and facts in the coming days/weeks.
After closer inspection and a few emails and calls to their major funding source, (Barron partners), I feel more confident that FUFW (Fuda faucet) will get through the next quarter or two. This is a very undervalued company that I do not believe will end in BK, even though at .10/share (and a book value of over $1/share), it's priced as though it won't make it.
CGDI.OB (China Growth Development Inc.) is my pick again for week ending 4/24/09
Yes, it was last week's top gainer, but I'm picking it again because they are filing their 10-K this week.
I believe they'll report .10/share or better and the stock will head up again...quickly.
There is some dd here if interested in a long term position. Hell, I'm in at .06-.08. If I didn't believe the company was worth a HELL of a lot more, I would have sold it at .30 last week.
"The Long Case for CGDI.OB"
http://www.investorvillage.com/iv2/smbd.asp?mb=9845&mn=898&pt=msg&mid=7054707
They're going to file within 5 days according to email I got from them yesterday afternoon.
As for eps, I guessing .10/share
guess I was wrong about follow-thru on their 10-K....the ChinaBio Today article which was less than glowing, also didn't help.
I have some freebie shares left, but sold a good part of the cheapies I picked up below .20.
yesterdays "gap and crap" trading told me she wasn't going to run big like I had expected.
Gotta take those profits sometimes when you can.
Well,there's strength on the bid today.
Looks like we may have hit bottom at the open and stock will be in stronger hands now after the flush of the last two days.
well...they need to file 10-K and soon, or risk the "E".
The initial good momentum on fundamantal value here is gettin crushed because they aren't filing on time...which is an unfortunate risk with many of these China stocks unfortunately.
Long term, I remain bullish, but short term wouldn't be surprised to see .10 and below again if they don't file their annual report soon.
Q1 out by Monday according to their late filing.
Looking forward to seeing those numbers!
too much dilution.
It killed the eps momentum they seemed to have going.
The LTUS report is MUCH stronger. For a mere .10 more/share, the difference in size and growth rate (especially revenue growth) between LTUS and CYXN is night and day.
I sold half my CYXN shares for a nice gain and will let the freebies I have ride. I won't add on this 10-K unless CYXN got down to .10 again which seems unlikely.
I picked CGDI.OB for 200% in 2 days. LTUS.OB is next- here's why
LTUS.OB (Lotus Pharmaceutical) filed 10-K after the bell. Revenues up huge to $74m and eps of .30/share on the stock that closed at .30
NEEDS TO DOUBLE to get to a PE of 2.
A lot of good candy in the report for those who are into AR balances (LTUS got theirs down to 6M from 20M, and cash flow from operations went from slightly negative in 2007 to a positive $37M.
Stock will get positive coverage by ChinaBio Today http://www.chinabiotoday.com/ who will also submit their coverage of LTUS' 10-K to SeekingAlpha...probably by Friday.
Would not be surprised to see LTUS double in next few days, which is where it needs to go to get to a PE of just 2 now!
Cash flow from operations positive $37M
wow.
I think they'll be able to fund their pharmactutical park/expansion plans without too much trouble with 10M/quarter of positive cash flow.
10-K out. Made .30/share and revenues up to $74M!
AR balance down to $6M from over 20M...that's HUGE. Most China pharma companies would kill to have an AR balance cut down like this and turn that cash into working capital to fund expansion as LTUS is doing.
I expect upward movement tomorrow, and another bump when ChinaBio Today does a Seeking Alpha article on these results.
http://sec.gov/Archives/edgar/data/1292087/000114420409020820/v146263_10k.htm
nevermind on Fuda Faucet- they just filed 10-K
Terrible 4th q and full year report compared to the first 9 months- they were hit HARD by the downturn.
OK, I'm starting to buy here
Either this company is on the verge of BK (which seems doubtful looking at their last filings), or it is the buy of the year in terms of valuation.
Bought a few starter shares today, and will continue to kick the tires. If I can't find any big red flags, I'm going ALL IN this one.
Will post more info as I uncover it.
anybody else looking here?
I'm looking at FUFW.OB (Fuda Faucet Works)also Pe of 0.3????????
Fuda Faucet Works
bought a few this morning and looking for 10-K today after close to make sure they're still in business as they're currently priced as though they're in BK lol.
Might be the cheapest pickup I've made this year...but still researching it.
take a look and let me know what u think.
filings
http://yahoo.brand.edgar-online.com/displayfilinginfo.aspx?FilingID=6246532-1172-135460&type=sect&dcn=0001144204-08-063206
website
http://www.jxfuda.com/
no boards for it anywhere- even yahoo board has only 1 post (mine today) that is on topic, lol.
Totally unknown/barely trades...that might change fast.
yep.
Steady uptrend should continue (with a pullback along the way here and there) after the 10-K is out tomorrow.
They've got the growth, the fundamentals, the hard assets of $1.89/share, revenue of .70/share yet to be accounted for, and fiscally sound money management by ownership.
All this one needs is exposure, and that's coming.
$1+ by eoy.
Board started today on Investor Vilage if anyone interested:
http://www.investorvillage.com/iv2/smbd.asp?mb=16153&pt=m