China Unlimited

[RealDutch]

Yes, a couple of things. TRW's profitability. Potentially increased stake by SIAF. Increased asset value (fish ponds).

Nobody cares about the asset write-offs on the beef business. It could have been worse if they had written off some aquaculture assets. And they did file the 10-K, confirming $600M+ net asset value.

I'm not satisfied with the progress made on the stock and cash dividends.

The ECAB note is gone which is a good thing. OTOH we lose some protection and there's potentially 5M shares hitting the market from them.

In general, a lot of attention goes to being transparent. But they screwed up on the Garrett note.

All in all a mixed bag. But it could certainly have been worse.

I also noticed total secrecy about CA contracts abroad. Could be a good thing resulting in a partnership.

It's painful that we are missing a real driver for the stock at the moment. Let's see where we are a months from now when they file the 10-Q.