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The company is doing real business, and there is no doubt about this part. The thing is whether the company still wants to keep this shell, since they certainly won't be able to get any serious investment for quite a while, until people forget the scams in Chinese reverse mergers. If they choose to quit, then their stock may worth nothing. That's the worst case scienario. I actually have no experience with this. I only saw companies disapeared because they were scams (CESV, HOM) or they went bankrupt, so I am not sure for a company with real operations.
I speak Madarin Chinese, and maybe I can give them a call. Let me know if you want me to help.
I think there will be no 10K today. Let's wait and see.
A big chunk of their assets is AR.(about 40M.) And that should be noted. Also, Goodwill accounts for 25M of their total assets.
GU: Thanks for the translation, Len. As a native Chinese, I can read Chinese. I am living in China right now, and will stay here for two more years. I was quite interested in GU when I saw its share price went down to 5s. After reading the news, I decided not to take the risk. I just wanted to share my views with other VMC members.
GU: Guys, please be awared that GU could be a scam. According to the information I got from the internet, this company may have some pollution issues and some fund managers in China think its earning numbers are susceptible. If you can read Chinese, you may check the following link:
http://info.china.alibaba.com/news/detail/v4-d1003009281.html
Yes, I think Shanghai index is still in its downtrend, and that's why I am just looking for a bounce to the 4200-4500 level.
cl001, I also think Shanghai index is close to the bottom. A strong bounce should at least take the index back over 4200. Just my personal estimate.
LTUS: what is CONTRACTUAL ARRANGEMENTS in the case? Are the assets of Lotus East a part of LTUS's assets? I don't really understand.
"
IN ORDER TO COMPLY WITH PRC LAWS LIMITING FOREIGN OWNERSHIP OF CHINESE COMPANIES, WE CONDUCT OUR PHARMACEUTICAL BUSINESS THROUGH LOTUS EAST BY MEANS OF
THE CONTRACTUAL ARRANGEMENTS. WE DO NOT HAVE ANY OPERATIONS OTHER THAN PURSUANT
TO THE CONTRACTUAL ARRANGEMENTS WITH LOTUS EAST. THE TERM OF THOSE CONTRACTUAL
ARRANGEMENTS IS ONLY FOR 10 YEARS AND THERE ARE NO ASSURANCES THOSE AGREEMENTS
WILL BE RENEWED. IF THE PRC GOVERNMENT DETERMINES THAT THE CONTRACTUAL
ARRANGEMENTS DO NOT COMPLY WITH APPLICABLE REGULATIONS, OUR BUSINESS COULD BE
ADVERSELY AFFECTED AND WE COULD BE FORCED TO CEASE OPERATIONS.
"
UTVG: I think the possibility of scam is low. Their business is fine, and all the acquisitions they have done last year should be real. Also, Jiangpin Jiang, the CEO of UTVG, seems to be a quite ambitious woman. So I don't think we are going to see another BBC case here.
Are the numbers in their reports reliable? I do not know. However, comparing their numbers to those from CTRP's reports, I would say their profit margin is reasonable.
What about the selling pressure? I have no idea. We may have to go back to their shareholder's structure to get the answer.
UTVG filed 10K. EPS $0.09 for Q4, and $0.26 for 2007. Not bad at all, IMO. However, the stock acts like it just wants to stay around $1.5s.
UTVG.OB: I bought some UTVG around $2. I think it's fairly valued now.
12/04/07 3:40 PM
CPHI.OB: AR increased $600K sequentially in Q3. So the problem remains.
About SDTH Q4 earnings. I think the revenue in Q4 should show a sequencial increase over Q3, even though the chemical sales might be weaker. Because the latest 40K metric tons NPCC capacity came online in July, and the lines operate at only 80% utilization. They expected it operating at full capacity by November.
I will be excited if they can bring phase 2 (60K metric tons)of the new NPCC facility online by the end of this year.
AFSI: got a decent earning report.
AmTrust Financial Services, Inc. Reports Record Second Quarter Net Income of $21.4 Million
Wednesday August 8, 5:20 pm ET
NEW YORK, Aug. 8, 2007 (PRIME NEWSWIRE) -- AmTrust Financial Services Inc. (NasdaqGM:AFSI - News), today reported net income of $21.4 million and revenues of $152.9 million for the second quarter 2007. ``The second quarter results confirm the validity of our strategic growth objectives, as well as underscore the unique niche that AmTrust continues to occupy in specialized areas of insurance,' stated Barry Zyskind, president and chief executive officer.
In addition, AmTrust announced that it has no exposure to sub-prime mortgages. Virtually all of the mortgage-backed securities in the Company's portfolio are government or agency-guaranteed.
The Company reported $21.4 million in net income, or $0.36 per basic share, for the quarter ended June 30, 2007.
Second Quarter and Six Months Highlights:
* Net income from continuing operations up 121.4% for the second
quarter of 2007 compared to the second quarter of 2006
* Net income from continuing operations up 127.4% for the six months
of 2007 compared to the six months of 2006
* Quarterly operating earnings per basic share was $0.31
* Quarterly net realized gains per basic share was $0.05
* Quarterly earnings per basic share was $0.36
* Six months ended June 30, 2007 earnings per basic share was $0.72
* Annualized quarterly return on equity for the second quarter was
23.1%
* Book value per basic share was $6.32 (as of June 30, 2007)
* GAAP combined ratio for the second quarter was 90.0%
* GAAP combined ratio for the six months ended was 89.6%
ADVERTISEMENT
Second Quarter and Six Months Results:
Revenue:
Net revenue in the second quarter 2007 increased by $65.6 million or 75.1% to $152.9 million (excluding other investment gain on managed assets) from $87.3 million in the second quarter 2006. Net revenue for the six months ended June 30, 2007 increased by $127.6 million or 76.9% to $293.5 million (excluding other investment gain on managed assets) from $165.9 million in the second quarter 2006.
Net earned premium in the second quarter 2007 increased by $58.0 million or 80.1%, to $130.4 million from $72.4 million in the second quarter 2006. Net earned premium for the six months ended June 30, 2007 increased by $106.9 million or 75.2%, to $249.1 million from $142.2 million in the second quarter 2006. The increase is primarily attributable to premium growth achieved through the successful integration of business acquired in renewal rights transactions as well as internal growth.
Net investment income including realized gains and losses in the second quarter 2007 increased by $7.6 million or 71.7% to $18.2 million from $10.6 million in the second quarter 2006. Average invested assets for the three months ended June 30, 2007 was $896.5 million compared to $613.8 million for the three months ended June 30, 2006. Net investment income including realized gains and losses for the six months ended June 30, 2007 increased by $18.1 million or 103.4% to $35.6 million from $17.5 million in the first half of 2006. The primary reason for the increase is the growth in average invested assets over the periods.
Expenses:
The Company's loss ratio for the quarter ended June 30, 2007 was 65.2% compared to 64.7% for the quarter ended June 30, 2006. The Company's loss ratio for the six months ended June 30, 2007 was 64.0% compared to 63.7% for the six months ended June 30, 2006.
Policy Acquisition Expense, Salaries and Benefits Expense and Other Insurance General and Administrative Expense for the quarter ended June 30, 2007 increased by $11.4 million to $32.4 million from $21.0 million for the quarter ended June 30, 2006. Despite the increase, the expense ratio for the quarter ended June 30, 2007 decreased to 24.8% from 29.0% for the quarter ended June 30, 2006. Policy Acquisition Expense, Salaries and Benefits Expense and Other Insurance General and Administrative Expense for the six months ended June 30, 2007 increased by $22.3 million to $63.5 million from $41.2 million for the six months ended June 30, 2006. Despite the increase, the expense ratio for the quarter ended June 30, 2007 decreased to 25.5% from 29.0% for the six months ended June 30, 2006.
The decreases are the result of the Company's ability to leverage its current infrastructure.
Interest expense in the second quarter 2007 increased to $2.5 million from $1.0 million in the second quarter of 2006. The increase is the result of the issuance by the Company in the last twelve months of $70.0 million of trust preferred securities.
Other Matters:
Shareholders' Equity as of June 30, 2007 increased to $379.2 million from $306.9 million as of June 30, 2006.
As of June 30, 2007 the Company's debt-to-capitalization ratio was 24.6%. The Company's debt relates to four trust preferred securities offerings in which the Company participated in between 2005 and March 2007.
Conference Call:
On August 9, 2007 at 10 a.m. ET, the company will hold a conference call that can be accessed as follows:
Nice bounce for CBAK. It's a good company with growing revenues. I hope they could manage to improve their profit margin a little, which I think is not so hard for them.
CHNG.OB: The risk is that it may have issues with Chinese retail investors, who invested before CHNG.OB got listed on OTCBB. Many Chinese companies have the same issue, such as AOB and BBC(now BBCZ.PK).
dickmilde, please take a look at my last post.
Hweb, it was posted on their website, but in Chinese:
http://www.xltrq.com/news/shownews.asp?newsid=1130
It could be something to inspire their employee, but I think they have the potential to achieve that goal.
From the same speech, I know there are three projects on schedule. One is the liquified natural gas project (500,000 Nm3/d)in Jinbian county, which if successful will give them a good source for liquified natural gas. They have already signed a contract with Jinbian county. The total investment for this project will be 360M RMB(about 43M US$). From the internet, I found the Jinbian county claims that the project can generate 87M RMB profit per year, so it will only take four years to get your investment back. I don't know if that can be ture or not.
I don't know the details about the other two projects. From the names of those two projects, I guess they plan to rapidly spread their gas filling stations and services into other provinces in China and increase their sale numbers. They plan to continue their development in Shanxi, Shanxi2(a different province),and Henan province, and advance to Shandong and Anhui province. They plan to move to Beijing and Tianjin market in 2008.
That's all I know about this company. Basically, I think they're for real, and I hope they can effectively execute their plan. Don't forget that sucker BBC and Bo Chen (current CEO of BBC) own quite some shares of CHNG.OB. Hopefully, they have dumped their shares.
I am bullish on Chinese stock market, and that's why I'm bullish on CAF and GCH.
CHNG.OB: In their employee meeting on Feb 10th, Qinan Ji ( Chairman and CEO ) said they plan to triple their revenue and build 30 new retail natural gas filling stations in 2007. It'll be very exciting if they can achieve their goal.
CHNG.OB may be a good speculative buy around $2. From my research, they are doing real business, and their business is running and growing well. Of course, there is a risk with buying before earnings.
Two interesting new stocks: SMCI and TCM. Both have some nice growth stories, and you may put them on your watch list.
I sold my GACF shares. It's my biggest loss in 2006 and 2007; surprisingly, I haven't really had any serious loss for 18 months.
But, what a bad start for 2007!
One thing I learned is never to trust dishonest management.
After the BBC issue, I guess stocks of Chinese companies are not presently favored by the market. Time is needed for the crowd to forget the hurt, and regain the courage to invest in those stocks.
GACF.OB: will it break $1.20 this time? Let's wait and see.
linuspop, thanks a lot. I like value stocks.
linuspop, who is RTR?
NTWK: pretty strong today.
NTWK: will report next Monday. It could be a decent ER, according to their recent NetSol PK report. http://biz.yahoo.com/iw/070202/0210620.html
NTWK: will report next Monday. It could be a decent ER, according to their recent NetSol PK report. http://biz.yahoo.com/iw/070202/0210620.html
I will add some UTVG.OB if it drops to 0.40s, I did not know the sudden drop yesterday until market closed.
UTVG.OB: I am with you guys, holding my position and waiting for their Q4 results.
CHID.OB: How many outstanding shares out there? I guess it is well over 100M. That is the biggest issue to me.
CEDA.OB: China Education Alliance (CEDA) Announces Acquisition of Harbin Compass Vocational Training School
Thursday January 4, 8:00 am ET
BEIJING, Jan. 4 /Xinhua-PRNewswire/ -- China Education Alliance, Inc (OTC Bulletin Board: CEDA - News), one of China's leading e-learning and online education enterprises, reported that its subsidiary, Harbin Zhong He Education Training Center, reached an agreement to acquire all of the physical and intangible assets of Harbin Compass Vocational Training School (CVTS). CVTS focuses on vocational IT training and offers leading programs for Network Engineering and ACCP Software Engineering. With this acquisition, Zhong He becomes the exclusive educational training partner of Beida Qingniao APTECH IT Co., Ltd. (APTECH) within the Heilongjiang Province of China. This partnership demonstrates CEDA's commitment to promoting IT training across mainland China. Zhong He acquired the assets, which include classrooms, computer rooms and patented course materials, for US $1,000,000 in cash and stock. The deal closed on December 10, 2006. CEDA estimates that the acquisition of CVTS and subsequent partnership with APTECH will generate US $1 million per year. CEDA CEO Yu Xi-qun stated, "This acquisition will increase CEDA's presence in the vocational education market, as well as provide on-site training space and resources in addition to our Heilongjiang Zhong He Education Training Center. We are also very pleased to be the new exclusive partner of Beida Qingniao APTECH IT Co. in Heilongjiang.''
SSKILLZ1, I hope I am right with this one. With the information I found, I think it's a pretty interesting one. I was surprised too. I thought I would never see 0.4s, because it closed around 0.5 on Dec 31st.
CEDA.OB: I think it's still undervalued, so I'm holding my shares. I don't have any other choice either, because the thin daily volume make it difficult to sell my shares.
CEDA.OB: Today's chart looks so ugly. I hope it could finally get some volume, like what SUWN.OB did last January. Otherwise, it's hard to buy or sell.
UTVG.OB: I started accumulating UTVG.OB at 0.4s.
Something about this company that I got from some Chinese websites:
1. About Yu Zhi Lu Aviation Service Company
On their website, they said they sold 460K tickets in 2005, and they would sell over 920K tickets in 2006.
(http://www.cnutg.com/about.asp)
For each ticket, they should reasonaly get 30 RMB as the profit. Therefore, the total net income for 2006 could be 30 x 920K= 27.6M RMB =$3.5M. That's similar to the numbers shown in their 10Q.
I checked with my friends in Shenzhen, and some of them said they've used Yu Zhi Lu's service to get air tickets before.
2. About Jiangping Jiang, Chairman of the Board and CEO of UTVG.OB
She was one of the ten "Leaders in China's private business in 2006".
(http://biz.163.com/06/0729/09/2N6K7L1C00021E6Q.html)
On this list, I found some big names in China. For example, Guangyu Huang, the president of Gome Electrical Appliance. He is also one of the richest man in China.
Jian Sun, CEO of Home Inn (HMIN, a hot IPO in Nasdaq recently.)
Recent price actions of UTVG.OB are really negative. I don't know what's behind these actions, but I think it may just provide us a good chance to buy in.
JMHO.