I also like to look at NAV and NTA when buying stock.  But have stop since lehman.

I have notice that there is a big gap in share price and the NTA/NAV and across many companies.  This may implied that asset has become very difficult to value.

For example, you may value your factory at 1M based on valuation from third party, but if you try to get a real buyer, you may get a much lower price....say...for example 600K.

And this gap is opening up.

For Synear, for the whole of last year, profit has been dripping.  Q2 yoy -52%,  Q3 -54% and Q4 -80%.  The effect of the crisis start after Lehman, so the full year do not reflect that.

Should we complete the line, Synear may even report loss.

The next thing is on the 845M RMB, they ended the year with 1.9B RMB in cash.  So the burn rate is 1.1B RMB per year.  Which is higher than 845M they currently have.

Their trade receivable is also going up from 320M to 485M RMB.  Remember, they are selling goods with short expiry date, non-durable goods.  Not like sport shoe.....

They did not pay div this time round, and there is a witch hunt going on because of the Fiberchem Fiasco.  Ferrorchina imploded recently. All on an overnight basis.  Has added concern on the corporate goverance. 

The only comfort is that they have no debt.

Was vested.

OK. i take this as buy. LOL!

Synear is releasing results soon, why not wait after the event ?

Also, S-stocks has somewhat been shaken by the Fibechem incident, ChinaHX is being quiry by SGX over the execess trade receivable. 1.55B RMB but collected back 50M RMB.

Was vested.