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SORL "SORL Auto Parts, Inc., through its subsidiary, Ruili Group Ruian Auto Parts Co., Ltd., engages in the development, manufacture, and distribution of automotive air brake valves and related components for commercial vehicles. It offers spring brake chambers, relay valves, air dryers, hand brake valves, clutch servos, and main valves and manual valves. The company also offers outsourced non-valve products, including power steering pumps and other pumps, automobile electrical components, and auto meters. Its products are principally used in commercial vehicles weighing over three tons, such as trucks and buses. SORL Auto Parts serves original equipment manufacturers and aftermarket distributors in the People's Republic of China and internationally. The company was founded in 2003 and is headquartered in Ruian City, the People's Republic of China."
So as you can see they are in China and commercial vehicle aka same type of deal as TXIC.
If Rudy doesnt show any initiative soon, I will consider selling as these days you have to cut your losses fast before you lose all. It'll be hard to swallow but better to play it safe sometimes.
Do the #'s for yourself, TXIC is predicting 15mill for 08. Thats 15mill/13mill=$1.15 EPS, go check yahoo finance, SORL is trading at 8.66 P/E but forward P/E of 6.4
Apply 6.4 P/E to $1.15EPS for TXIC and you get $7.30
Well SORL is a nice growth story, I mean margins are better with TXIC, 15mill expected earnings on I think 90mill or so of revenues as compared to SORL 10mill earnings on 115mill revenue for 07. SOLR trading at 8.66 P/E but forward P/E of 6.40
Doesnt look good for us if you put a 6.4 P/E on $1.15 EPS for TXIC only $7.30
Unfortunately this may be even overvalued here when compared to another asian car industry player.
Anyone want to call Rudy Wilson? Ive been bothering him so would prefer not to. I guess we will have to wait and see earnings.
This is pathetic, still holding, but what a disaster. Getting drilled just says after my $3 buy in.
someone just dumped 30k from the commons, wonder if JLF is still holding.
His job for himself and his shareholders is to maximize shareholder value. If he is running the business he knows he went public to generate money, and thats why its in his best interest to get the warrant to $5, so they can call them in and secure the cash.
Agreed, something fishy going on that he is the IR guy. Really dont like how they dont seem to give a crap about the share price. May be someone can mention something to Rudy about being shareholder friendly and trying to get the stock valued better so they can exercise their warrants for more cash inflow. I've bothered Rudy enough already
Am I worried? Simply, yes. I'm worried that there is no investor interest in this one due to the lack of transparency and attempt by Rudy Wilson. Very dissapointed, I figured JLF moved into this one since its in a great sector, commercial vehicles in china. However, I'm sure even he didnt figure there would be no exposure once it hit Nasdaq. It bothers me that 1200 volume moves it down .25 but you need over 50k volume or more to move it back over that quarter. Why does anyone want to be in here when it is clear Rudy Wilson has no intent of promoting the common shares to be able to exercise the warrants at $5 for more cash proceeds.
Bad business on their end IMO.
Anyone have thoughts on MAQ?
Agreed, I still hold warrants at $3 and made a ton up from $1.80, but the $3.00 is a new buy for me so in my perspective this is a loss right now. I will hold for earnings for sure, but I will make sure to analyze these results as thats what matters.
I spoke with Rudy on the phone and he seemed like a businessman, but wow I've never seen someone promote their business so poorly. You couldnt even make sense of the opportunities involved with their last PR because they didnt mention much.
Why go on the nasdaq to gain exposure, when you aren't willing to go on road shows or put out PR's highlighting your business. Investors just dont come, he needs to understand that.
Piss poor job, and I highly recommend someone let him know. I told him he should be doing road shows etc to build attention if he wants to exercise those warrants at $5.
Share price just needs to move from the mid $7's to $10, wouldnt be hard if he brought in investors and reported good earnings.
MAQ is tricky...they will be giving a dividend basically at close of merger so common share price will come down, which will hurt warrants price. Long term I dont see whats appealing, earnings cut in half from $32mill in 06 to $16mill in 07, then the first 3 months earnings of 08 were pathetic. .20 Per share earnings for 08 maybe? Trading in the $7's, I dont get it.
http://www.pinksheets.com/edgar/GetFilingHtml?FilingID=6032874
Also if you look in the filing you will see executives and hedgies own 75.2% of this and gross bought a bunch more yesterday. Merger will go through IMO,
but will warrants move if common goes down due to dividend?
For a company like this that doesnt seem to want to be an APWR, earnings will be the only thing that matters. These guys PR nothing. Earnings growth is key, this stock will only move if earnings come in. Piss poor performance by management in terms of getting exposure and investment interest in the company.
Anyone in the MAQ warrants? Gross owns 30%, another hedgie owns 10%, I wonder the chances of this merger going through. Happening on Aug 7
Thanks, I'm keeping a close eye on this one, but no position yet. i wouldnt touch this till after the R/S
Yeah but whats the earnings? Lets say they earn 3million for the year, thats .03 a share in earnings...and thats a big if, $3mill on $60 in revs. I went to the link in ibox no where in that presenation does it show earnings estimates
Hmmm.. 100mill O/S after share exchange and 250mill A/S...not so sure I like that
Not really sure what you mean, it clearly states MAJORITY, as far as I know majority = >50%...according to my DD which is based off of official SEC filings, hedge funds and executive management own 51% or more already
Go to page 6 of their S4 filings, it just says majority of the shares represented which = 51% if you asked me. Was told shareholder meeting will be around november time.
Q.
What vote is required for the business ratification proposal
A.
The approval of the business ratification proposal will require the affirmative vote of a majority of the shares represented and entitled to vote at the meeting. The approval of the business ratification proposal is not a condition to the approval of the stock purchase or the redomestication merger proposals.
Q.
What vote is required in order to adopt the stock purchase proposal?
A.
The approval of the stock purchase proposal will require the affirmative vote of a majority of the outstanding shares of Shine Media's common stock. If the holders of more than 1,379,999 shares of common stock issued in Shine Media's initial public offering, vote against the stock purchase proposal and demand conversion of their shares into a pro rata portion of the trust account as of the record date, then the stock purchase will not be consummated. Shine Media will not consummate the transaction described in the stock purchase proposal unless the redomestication merger is also approved. Similarly, the redomestication merger will not be consummated if the stock purchase proposal is not approved. The approval of the stock option plan proposal is not a condition to the consummation of the stock purchase or redomestication merger proposals.
Q.
What vote is required in order to adopt the redomestication merger?
A.
The affirmative vote of the holders of a majority of the outstanding shares of Shine Media common stock is required to approve the redomestication merger proposal.
Q.
What vote is required in order to adopt the stock option plan?
A.
The approval of the stock option plan will require the affirmative vote of a majority of the shares represented and entitled to vote at the meeting. The approval of the stock option plan is not a condition to the approval of the stock purchase or the redomestication merger proposals.
I'm pretty sure its a 51% majority vote.
SHND did everyone just not look over my last post, unless my DD is factually incorrect, it appears hedgies and the executives of the company own 51% of the shares meaning the merger will go through
SHND Big American Hedge funds holding..this one today filed a 13G with 6.85% of the common shares held by him,
http://www.pinksheets.com/edgar/GetFilingHtml?FilingID=6067591
well known guy around the industry with $425 million hedge fund.
Then you got...
Level Global Investors (U.S. company) (1.7billion hedge fund) own 5.71%
http://www.stockpickr.com/port/Level-Global-Investors/
MHR Fund Management (U.S. company) Hedge Fund own 7.79%
http://investing.businessweek.com/businessweek/research/stocks/private/snapshot.asp?privcapId=20759234
Fir Tree Fund owning about 12-13% (U.S. company hedge fund)
https://www.firtree.com/
QVT financial owns about 12% (U.S. company hedge fund managing 13billion)
http://www.qvt.com/files/approach.html
This company is owned by about 39% american companies.
The chinese executives own about 12%...
Do the math..looks like 51% owned altogether, looks like merger is a guarentee just IMO. Will LOAD up tomorrow.
Check out the company's guidance, huge money maker with government its big client :)
Anyone have more details on MAQ in terms of total O/S after the merger, projected EPS, etc. Also don't warrant holders get screwed since they announce dividends to common shares, share price gets pushed downwards for dividend. Example if they give a .50 dividend and the stock is $8, the day the dividend is given the stock must go to $7.50 but of course the market can push it up or down from there, but if you are playing the warrants this could hurt them. However, I wonder what the chances of this going through are. I bought a chunk today just hoping for the merger to go through. That alone will give me a $1.10 to $1.80 move which I'll gladly take anyday
Last PR shows Rudy is all business like I stated. Hardly any explanation of what this joint venture will do for the company. Just states the facts and thats it. No comment from the CEO in the press release and how this will add to the bottom line. Doesnt matter to me as long as financials come in strong
What is going on here? I just got this from my broker. What does this mean?
Re. stock symbol TXICW :
The above-listed stock is part of a non-mandatory reorganization or tender offer, which requires your timely attention. For details regarding this offer, contact your local branch office. Please note that failure to advise Scottrade of your intent may result in no action being taken, and we cannot be held responsible for any resulting loss.
If you decide to participate in this offer, you will need to inform your local Scottrade branch office no later than 10 a.m. ET on the expiration date, and a $25 fee will be charged to your account.
These shares must then remain in your account until the reorg/tender takes place (be advised that the expiration date for such actions is often extended). Please contact us if you have any questions.
When I spoke with Rudy I got the impression he wasn't much of a PR guy and wasn't really trying to get investment exposure for his company. I mentioned JLF and he was unaware of his sizeable investment. However, he was definitely a businessman and seemed very confident in the business and future outlook, but didn't say anything we didn't already know. You'd think with JLF backing this that he would speak to management about the best way to get exposure and the word out there. A PR spree right now would be a good start, but its doubtful we will see one besides financials. So much potential here in the warrants but I have a feeling this will be a slow long ride like it has been so far. Have this tucked in long term and dont want to sell a share of my warrants until $6 unless fundamentals etc change.
All we need is a forward P/E of 10 to put common stock at $10, to move warrants to $5, a 67% gain.
ahh yes thats it, didnt see it in the ibox, sorry
Tonxgin is trading at like 8 P/E here, growing at 30% YOY, expecting to make an acquisition later this year. Their profile,
"Tongxin International Ltd (TXI), formerly Asia Automotive Acquisition Corporation, incorporated on June 20, 2005, is an independent supplier of engineered vehicle body structures (EVBS) in China. The Company is capable of providing products for both light, medium-sized, heavy-duty and vans. In addition, TXI designs, fabricates and tests dies used to stamp automotive body panels. EVBS consists of exterior body panels, including doors, floor pans, hoods, side panels and fenders. The Company also manufactures complete cab structures for commercial vehicles. On April 23, 2008, TXI announced that it consummated a merger with Hunan Tongxin Enterprise Co. Ltd. (Hunan Tongxin). Pursuant to the merger Hunan Tongxin became a wholly owned subsidiary of TXI."
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Good growth in China as a whole for commercial vehicles, http://www.chinadaily.net/china/2008-04/21/content_6630380.htm ......"Last year, Chinese bought 5.5 million cars, minivans and SUVs and 3 million commercial vehicles, up from just 1.6 million vehicles sold in 1997. J.D. Power and Associates says sales would grow by 1 million vehicles annually through 2015."
http://www.businessdose.com/m_and_a/tongxin_international_ltd_succes/
Q1 2008 Highlights: -- Total revenue of US$ 30.3 million, an increase of 49.3% compared to the fourth quarter 2007; and an increase of 26.7% compared to the same period of last year. -- EBITDA of US$4.1 million, an increase of 38.2% compared to the same period in 2007. -- Gross margin of 24.9%, as compared to 24.4% of the same period in 2007. -- Net income of US$ 3.8 million, an increase of 65.9% compared to the fourth quarter 2007; and an increase of 38.4% compared to the same period last year.
"We continued to see increasing demand for our products throughout each of our business segments during the first few months of 2008 and as the demand for commercial vehicles continues to be very strong we expect to continue to see record results for revenue and net income for the remaining quarters of 2008. This strong demand is driven by China's need to continue to improve the infrastructure in the country. It will take commercial vehicles to build the needed roads and bridges and once this need is satisfied it will be trucks and buses that use the new roads. Because of this we are forecasting that the commercial vehicle market will continue to grow at a 20 to 25% rate for the foreseeable future and we believe we are well positioned to continue to grow faster than the overall market," stated Mr. William R. Herren, Chairman and CEO of Tongxin International Ltd.
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http://en.ce.cn/Insight/200705/25/t20070525_11487064.shtml
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.
No it is not, not Tonxgin acutal website which ive seen before.
Where is tonxgin website? I used to be able to find it via google, cant find it. link anyone?
Can we change the board ticker so people can find us?
lol, I loaded some $3's yesterday. Lets get this baby going, when I spoke with Rudy about a month ago he sounded upbeat and ready to get things going. They are involved in some joint venture (sounded like may wah) but no clue what it was, and he said acquisition still planned for 4Q this year.
haha no, I've been in here for a long time with you! Come on now, just would like to see some positive developments
LOL we are DEAD Today, we hit nasdaq and still cant get any interest weird. Management needs to do a road show and PR Spree NOW
is everyone locked and loaded? I'm sure the company wants to push warrants to $5 as long as business is good as usual to collect the cash by calling them in.
Well thats assuming they report good earnings, company has to perform to see that price
Excited...we should see $10 here on the commons with good earnings, bring warrants to $5, a nice 67% gain.
Brand new here, was recommended to take a look here. So basically this is an asian company reverse merging into JPCI? JPCI has no liquidity. After the merger what is the anticipated O/S. Is this merger finalized? Is it all just penny stock talk?
Nice, no one cares about the news, not jumping in yet...when are the next quarterly #'s, may wait to see those