To be honest, all I care about is a share buyback. Nothing else.
They have paid high multiples for their previous acquisitions, yet they don't want to buy their own stocks? They are the only ones who know exactly what their shares are worth.
They have been trying to acquire unlicensed producers without success lately. They stated in a previous CC that they have made several bids, but after the strong bromine prices, nobody wants to sell. Shifting to leasing fields and keeping every cent for themselves lying around at 0.5% is not the best choice.
So even though spending their earnings only on bromine acquisitions is their master plan from day one, I would make not only an exception but also make it a priority at this stage.
Considering the Daying Facility. Well, it's the same as always. I would love to hear more about it and discuss funding possibilities and it would be definitely a big chance for their future.
But in the RTO space, nothing matters but hard cash (various verifications don't seem to work either). As soon as they show money flowing in the other direction in form of dividends or buybacks (IMO the better choice), they can think about future projects. Just to stress that again, in my opinion no verification, bank statement or whatever would do any good to counter the miserable atmosphere, hit pieces, inventory or ownership issues.
230 Mio are needed minus cash on hand, minus strong cashflow, does not leave too much to fill. Capital raise is deadly at this level and we have barely seen any bank loans in the sector at all. Look at Longwei, will they ever get one? I would even say, that bank loans on the balance sheet have become a big PLUS in due diligence, because local authorities seem to acknowledge the assets and earnings. Maybe they can stretch the payment a little, first pay upfront in cash to begin the construction process and then add money when it's needed, having more time to talk to banks or collect cash from cashflows.
News 
Market Data 
Discover 
