China Jishan Holdings Limited on Saturday posted a net loss of 3.64 million yuan (US$5.74 million) for the third quarter ended, down from a profit of 1.03 million yuan a year ago.
The Singapore-listed company explained that higher unit processing cost in addition to the delayed peak season for extra-width products dragged its gross profit margin down to 13.6 per cent in the reporting quarter, from 17.3 per cent in 3Q2010.
'The peak season for our extra-width products, which are most profitable among all our products, was delayed to September as a result of the volatile cotton market since last year,' the company said.
However, revenues rose 3.4 per cent year-on-year to 133.8 million yuan from 129.4 million yuan on the back of higher average selling price for its direct sales of fabric, which rose 40.6 per cent year-on-year to record 19.4 million yuan in turnover.
Consequently, the group posted loss per share of 1.21 Chinese cents for the third quarter. A year ago, it reported earnings per share of 0.34 Chinese cents.
Year-to-date net loss was 8.11 million yuan, falling a profit of 9.41 million a year ago, despite a 2.7 per cent increase in turnover to 380.72 million from 370.67 million.
Loss per share for the nine months ended was 2.69 Chinese cents. A year ago, it posted earnings per share of 3.12 Chinese cents.
Looking ahead, executive chairman Jin Guan Liang said heightened market uncertainties could reduce the demand for textile products from overseas markets.
Factory visit time again around end of October 2011 again. Next will accumulate China Jishan for the next stage Sgd. 0.095 up to Sgd. 0.12 by year end most likely
Notice you interesting posting regarding this stock.
Most likely you had paid top money for this stock and
buy gradually on dips. A loss is money lost regardless of
whether you are still holding onto d stock.
Hulumas ( Date: 24-Jun-2011 21:14) Posted:
Be ready, China Jishan will be bullish and reaching > Sgd. 0.19 within this year. Time to buy accumulating again! Don't say I do not inform you before! CAVEAT EMPTOR
for QE3, it's not confirmed, got to ask Ben himself lah....if the need arises ???
someone said: " EU central bank running out of bullets,,,, FED's QE3 also will not do much help " .....so real economy growth is the only real thing....
Salute ( Date: 27-Jan-2012 09:25) Posted:
this trending up days, is it due to QE3 news besides CNY, good co. reports in the States.....but has the QE3 be confirmed already. or when wll it be confirmed.
TA Corporation (" TA" or " the Company" ) is an established property and construction company in Singapore. It is offering 122m shares (113m new and 9m vendor) at a price of $0.28 each. The no. of shares for public amounted to only 2m, which is not unexpected given the current market conditions. The IPO closed on 17 Nov 2011.
At the date of the prospectus, the order book was approximately $316m. Revenue hit $235.5m and net profit to shareholders was $30.1m in FY2010. Adjusted EPS for FY2010 based on the enlarged share cap was Singapore 6.5 cents. The listing PER is about 4.3x. The NAV per share post listing was 30.1 cents, higher than the IPO price of $0.28. The market cap is $130.2m based on the IPO price. First half results showed a revenue of $45.5m and a net profit of $5.8m (to shareholders). Adjusted EPS for first half is 1.2 Singapore cents. As illustrated, the results can be very lumpy in nature, indicating how cyclical the industry can be.
Let's take a look at its listed peers here:
Lian Beng is currently trading at historical PER of 3.4x and an EPS of 9.1 Singapore cents for year ended 31 May 2011. Chip Eng Seng is trading at historical PER of 2.4x and an EPS of 16.6 Singapore cents for year ended 31 Dec 2010. Yongnam is trading at historical PER of 6.0x and an EPS of 4.1 Singapore cents for year ended 31 Dec 2010.
In terms of valuation, TA Corporation is valued at a higher valuation than Lian Beng and Chip Eng Seng but lower than Yongnam. The current " IPO" bull run may provide some upside in the opening hours but don't expect the euphoria to last for too long. The " bigger" float of 122m shares means that there will be active sellers should the price run too far ahead of its rivals and traders might as well switch from TA to other construction companies.
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