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Latest Forum Topics / China Taisan  Post Reply
Aoyee ! Aoyee! Ao! Ask Jane for help !!!
zhixuen
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22-Mar-2011 20:11     
 
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http://cimbresearch.blogspot.com/2011/03/sin-cimb-traderpm-oh-oh-another-s-chip.html

 

 

Oh oh, another S-Chip in hot soup again?



China Gaoxian  plunged 24% on a whopping 140m shares yesterday. In stark contrast, the KDRs traded just 1.1% down yesterday (versus Friday's close). After being queried by SGX, the Company requested for trading halt last evening.
Gaoxian announced FY10 results on  27th February 2011. The latest corporate announcement was on  7th March 2011  (about 2 weeks ago) when the Company responded to SGX queries on its results.
So far, dual listing does not appear to have done much for the Companies. China Gaoxian closed at S$0.44 versus S$0.337 for the KDRs on the day the KDRs debuted. Benchmarked against the first day the KDRs were traded, the SGX-listed shares are down 57% while the KDRs are down 30%. As for China Taisan, the SGX-listed shares closed at S$0.225 versus S$0.275 for the TDRs on the first day the TDRs were traded. Again, benchmarked against the first day the TDRs were traded, the SGX-listed shares have lost 41% while the TDRs declined 24%. 
Foreland Fabrictech  (FLFT SP S$0.115, BUY, TPS$0.25) held up well, ending mid-day trading up 9.5% from yesterday's close. We spoke with its CFO this morning to confirm that both his good self and the external auditors have verified the cash at the bank. As the annual report should be out soon, the accounts have been audited. We also understand that all the receivables as at end FY10 have been collected. Also, no single customer accounts for more than 4% of the total receivables. We also believe management has been pondering a listing on another exchange to improve valuations.
China  Taisan  (CTSAN SP S$0.14 BUY, TP S$0.29). Taisan closed 3.7% higher at mid-day versus yesterdays' S$0.135 (a 52 week low). In Taisan's case, the external auditors have also verified the cash balances and the accounts have been audited. Taisan is also in the process of setting up an internal audit function. The annual report should be out by mid April. Taisan has also recently announced a DPS of Rmb 2.27 fen (or scrips in-lieu of cash dividends). The Company has nine customers that account for more than 5% of receivables. The largest customer accounted for more than 10% of its receivables. More than 71% of the receivables have been collected to date (70.8% as at the date when the Company responded to the SGX queries on its receivables). 
We also managed to speak with  China  Fibretech's  CFO who assured us that the cash balance has been verified by him and the internal and external auditors. The CFO believes that most of the receivables as at end FY10 have been collected. No single customer accounts for more than 5% of sales and as such, the CFO believes that there is no single customer that is more than 5% of its receivables. Fibretech is also contemplating a listing on a foreign exchange to better its valuations.
So, what's the moral of the story?  The CEO, the CFO, these are the guys who get to see all the numbers daily. If you don't trust these guys, just walk away. If not, it's going to be a case of garbage in, garbage out. What forecasts can you project if the numbers are just mirages in the desert?
Going by the response from Foreland and Taisan's CFOs, we find no basis to change our call and target prices. Main  BUY  on both,  TP S$0.25  for Foreland and  S$0.29  for  Taisan.


cheongsl      ( Date: 22-Mar-2011 18:40) Posted:

My pickup point at 0.14 is closed, thus the next pickup point is 0.115, thus queue there for those donation from shortest, loh!, if it drop, good for me, can accumulated more, if it go up, good for me also as previous pickup have start to grow. Unless fundamental change then it will be bad for me, but will act based on fundamental.

GuavaXF30      ( Date: 22-Mar-2011 08:52) Posted:

I'm always skeptical about people posting that they are buying more. If real, they will want to buy quitely so that the price will not spike up. As for me, I did not wait. Already bought ! Ha, ha. Thank you ChinaGaoXing ! You have helped drive the price of Taisan down for me.  
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cheongsl
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22-Mar-2011 18:40     
 
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 Alert Admin 		My pickup point at 0.14 is closed, thus the next pickup point is 0.115, thus queue there for those donation from shortest, loh!, if it drop, good for me, can accumulated more, if it go up, good for me also as previous pickup have start to grow. Unless fundamental change then it will be bad for me, but will act based on fundamental.

GuavaXF30      ( Date: 22-Mar-2011 08:52) Posted:

I'm always skeptical about people posting that they are buying more. If real, they will want to buy quitely so that the price will not spike up. As for me, I did not wait. Already bought ! Ha, ha. Thank you ChinaGaoXing ! You have helped drive the price of Taisan down for me.  

cheongsl      ( Date: 22-Mar-2011 07:27) Posted:

Noted, I will be queueing at slightly lower there to get in more
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rickyw
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22-Mar-2011 16:34     
 
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 Alert Admin 		afraid something fishy inside...then die liao..
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zhixuen
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22-Mar-2011 16:33     
 
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Email this to them.

Ask their boss to do something.

maybe meet the investors.

warrenbegger      ( Date: 22-Mar-2011 16:31) Posted:

It about value and trust, taisan management need to do something to increase V/T. 



warrenbegger      ( Date: 17-Mar-2011 17:35) Posted:



1st - The recent S-chip scandal create by both Hongxing and hongwei r from textile sector.

2nd - Executive Director just resigned, why?

3rd - Dividend low because of expansion plan which  targeted for completion in 2012 so now still early to hold?

4th - Japan hammer all stock in the world now.

5th - FA keep improving, TA keep drowning. Sometime is not about FA and TA anymore. It about value and trust, taisan management need to do something to increase V/T.

6th - Someone can fill in if i wrong or miss something, this all just my own view :)
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warrenbegger
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22-Mar-2011 16:31     
 
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 Alert Admin 		It about value and trust, taisan management need to do something to increase V/T. 



warrenbegger      ( Date: 17-Mar-2011 17:35) Posted:



1st - The recent S-chip scandal create by both Hongxing and hongwei r from textile sector.

2nd - Executive Director just resigned, why?

3rd - Dividend low because of expansion plan which  targeted for completion in 2012 so now still early to hold?

4th - Japan hammer all stock in the world now.

5th - FA keep improving, TA keep drowning. Sometime is not about FA and TA anymore. It about value and trust, taisan management need to do something to increase V/T.

6th - Someone can fill in if i wrong or miss something, this all just my own view :)


rickyw      ( Date: 17-Mar-2011 17:04) Posted:



Hmm...I also dont understand why price keep  dropping..good fundamental, low p/e, EPS increase for past 3 yrs, got dividend (even small), company buy back, current price is below NAV...what else??

But price keep dropping? Who actually Q at buy and sell? then what is the purpose they doing that?? TA& FA analyst cannot explain this...

Any sifus explain why??? 


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warrenbegger
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22-Mar-2011 15:44     
 
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Warning!!! Can see BBs still havent unloading finish, still hold at your own risk, i had said what i had to said, good luck and wish i wrong.

No trust = No Value!!!
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zhixuen
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22-Mar-2011 15:44     
 
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That's sarcastic that the net earning and net revenue are at record high but Taisan share price keep going to test record low.

Shame!! really shame.

I was thinking to cut loss when it cross down 0.170 that time but the result make me think more optimism.

Then I have decided to hold and waiting for good dividend. Yet, it keep going down. I think I need to write off this counter from my protfolio liao.

 

warrenbegger      ( Date: 22-Mar-2011 15:40) Posted:

Easy. Cause both S-chip scandal Hongs is in singapore sgx and many singaporen kanna worst than others. And singaporen very kiasu and kiasi, monkey see monkey do and others sell all sell.  If Taiwan or Hongkong also kanna S-chip scandal like us  2 same sector in a row, see they scare or not. We dont care what other listing in other exchange doing well or suck, the truth is now for S-chip textile sector is in a very downtend moment. No trust  =  No Value  = No one wants to play with fire. 

zhixuen      ( Date: 22-Mar-2011 15:23) Posted:



But why Taiwan TDR is still health
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warrenbegger
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22-Mar-2011 15:40     
 
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 Alert Admin 		Easy. Cause both S-chip scandal Hongs is in singapore sgx and many singaporen kanna worst than others. And singaporen very kiasu and kiasi, monkey see monkey do and others sell all sell.  If Taiwan or Hongkong also kanna S-chip scandal like us  2 same sector in a row, see they scare or not. We dont care what other listing in other exchange doing well or suck, the truth is now for S-chip textile sector is in a very downtend moment. No trust  =  No Value  = No one wants to play with fire. 

zhixuen      ( Date: 22-Mar-2011 15:23) Posted:



But why Taiwan TDR is still health?

warrenbegger      ( Date: 22-Mar-2011 15:18) Posted:

Taisan getting more and more unstable now. Now all s-chip textile sector like kanna pull down by both Brokeback Hongs + CGX (still under naked check) = 3P styles (why this year all kanna textile sector ah?)
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zhixuen
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22-Mar-2011 15:23     
 
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But why Taiwan TDR is still health?

warrenbegger      ( Date: 22-Mar-2011 15:18) Posted:

Taisan getting more and more unstable now. Now all s-chip textile sector like kanna pull down by both Brokeback Hongs + CGX (still under naked check) = 3P styles (why this year all kanna textile sector ah?)
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warrenbegger
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22-Mar-2011 15:18     
 
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 Alert Admin 		Taisan getting more and more unstable now. Now all s-chip textile sector like kanna pull down by both Brokeback Hongs + CGX (still under naked check) = 3P styles (why this year all kanna textile sector ah?)
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GuavaXF30
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22-Mar-2011 08:52     
 
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 Alert Admin 		I'm always skeptical about people posting that they are buying more. If real, they will want to buy quitely so that the price will not spike up. As for me, I did not wait. Already bought ! Ha, ha. Thank you ChinaGaoXing ! You have helped drive the price of Taisan down for me.  

cheongsl      ( Date: 22-Mar-2011 07:27) Posted:

Noted, I will be queueing at slightly lower there to get in more.

rickyw      ( Date: 21-Mar-2011 21:40) Posted:

will drop somemore...to 0.1
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cheongsl
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22-Mar-2011 07:27     
 
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 Alert Admin 		Noted, I will be queueing at slightly lower there to get in more.

rickyw      ( Date: 21-Mar-2011 21:40) Posted:

will drop somemore...to 0.12

cheongsl      ( Date: 21-Mar-2011 20:56) Posted:



I enter somemore at 0.14 today, just take a look at Taiwan and Singapore price, taiwan is trade at equivalent of S$0.21 per share (TDR = 2share, exchange rate is 1SGD = 23.328TWD)

Taiwan look like a stronger market then Singapore. You need to start worry when TDR equivalent price is lower then Singapore share price, as the TDR can be convert to Singapore shares and sell off in Singapore market. not the reverse.

And most of the TDR is done at 13.8 to 14.85 , which is around S$0.295~S$0.32, thus conversion of TDR to share at current rate is less likely. There is no bad news about the fundamental of the company, only the market sentiment with China shares is bad currently, and BB making of fear sentiment to earn big big by pushing down, and other follower coming in. If fundamental is good, then not to worry too much just pick up small small as it goes by. One day it will pick up and go.





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warrenbegger
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22-Mar-2011 02:27     
 
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 Alert Admin 		The recent S-chip scandal create by both Hongxing and hongwei r from textile sector and we can see  now almost all textile counter keep going down and down with ??? upside. No trust, no matter how beautiful FA is = No value.

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rickyw
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21-Mar-2011 21:40     
 
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 Alert Admin 		will drop somemore...to 0.12

cheongsl      ( Date: 21-Mar-2011 20:56) Posted:



I enter somemore at 0.14 today, just take a look at Taiwan and Singapore price, taiwan is trade at equivalent of S$0.21 per share (TDR = 2share, exchange rate is 1SGD = 23.328TWD)

Taiwan look like a stronger market then Singapore. You need to start worry when TDR equivalent price is lower then Singapore share price, as the TDR can be convert to Singapore shares and sell off in Singapore market. not the reverse.

And most of the TDR is done at 13.8 to 14.85 , which is around S$0.295~S$0.32, thus conversion of TDR to share at current rate is less likely. There is no bad news about the fundamental of the company, only the market sentiment with China shares is bad currently, and BB making of fear sentiment to earn big big by pushing down, and other follower coming in. If fundamental is good, then not to worry too much just pick up small small as it goes by. One day it will pick up and go.





zhixuen      ( Date: 21-Mar-2011 15:07) Posted:



I not even dare to avg down.

I emailed the investors relation.

The Group is in healthy business condition and there is no problem in internal management. Libya unrest and Japan earthquake have inversely impacted on the performance of the stock market, and so do our shares.

 

We will continue to do our best to deliver value to our stakeholders.

 

Thank you.

 

 

Investors Relation 投 資 人 關 係

China Taisan Technology Group Holdings Limited

 

Website: www.china-taisan.com

 

 

The information in this message is confidential and may be legally privileged. It is intended solely for the addressee. Access to this message by anyone else is unauthorized. If you are not the intended recipient, any disclosure, copying or distribution of the message, or any action or omission taken by you in reliance on it, is prohibited and may be unlawful. Please immediately contact the sender if you have received this message in error. Thank you.

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earthquake and middle east turmoil are over. this is not an excuse.
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Raindrops
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21-Mar-2011 21:26     
 
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China taisan! china gaoxian! all make us scare of S chip liao! OMG!~

 
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cheongsl
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21-Mar-2011 20:56     
 
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I enter somemore at 0.14 today, just take a look at Taiwan and Singapore price, taiwan is trade at equivalent of S$0.21 per share (TDR = 2share, exchange rate is 1SGD = 23.328TWD)

Taiwan look like a stronger market then Singapore. You need to start worry when TDR equivalent price is lower then Singapore share price, as the TDR can be convert to Singapore shares and sell off in Singapore market. not the reverse.

And most of the TDR is done at 13.8 to 14.85 , which is around S$0.295~S$0.32, thus conversion of TDR to share at current rate is less likely. There is no bad news about the fundamental of the company, only the market sentiment with China shares is bad currently, and BB making of fear sentiment to earn big big by pushing down, and other follower coming in. If fundamental is good, then not to worry too much just pick up small small as it goes by. One day it will pick up and go.





zhixuen      ( Date: 21-Mar-2011 15:07) Posted:



I not even dare to avg down.

I emailed the investors relation.

The Group is in healthy business condition and there is no problem in internal management. Libya unrest and Japan earthquake have inversely impacted on the performance of the stock market, and so do our shares.

 

We will continue to do our best to deliver value to our stakeholders.

 

Thank you.

 

 

Investors Relation 投 資 人 關 係

China Taisan Technology Group Holdings Limited

 

Website: www.china-taisan.com

 

 

The information in this message is confidential and may be legally privileged. It is intended solely for the addressee. Access to this message by anyone else is unauthorized. If you are not the intended recipient, any disclosure, copying or distribution of the message, or any action or omission taken by you in reliance on it, is prohibited and may be unlawful. Please immediately contact the sender if you have received this message in error. Thank you.

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earthquake and middle east turmoil are over. this is not an excuse.

rickyw      ( Date: 21-Mar-2011 14:54) Posted:

How come??
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Bintang
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21-Mar-2011 19:16     
 
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 Alert Admin 		ChinaTaisan may go down to 11 cents because its dead cross has formed .

des_khor      ( Date: 21-Mar-2011 17:15) Posted:

Maybe CIMB sold all already ?
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des_khor
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21-Mar-2011 17:15     
 
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 Alert Admin 		Maybe CIMB sold all already ?
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zhixuen
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21-Mar-2011 16:06     
 
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This was the report before 0.170 broken

There is another report.

knightrider      ( Date: 21-Mar-2011 15:48) Posted:



No lah ! What CIMB or CMIB, read this from Thomson Reuters


SINGAPORE, Jan 12 (Reuters) - Shares of Singapore-listed  fabric maker China Taisan Technology  CTTG.SI  rose as much as  8 percent on Wednesday after CIMB Research said the firm's  full-year earnings is likely to exceed the broker's forecast,  traders said.  

At 0145 GMT, China Taisan shares were 5.4 percent higher  at S$0.195 with over 19 million shares changing hands.  

CIMB Research said as China Taisan's fourth quarter is  typically its strongest, its 2010 net profit could be higher  than 231 million yuan ($35 million), compared with 106.7  million yuan a year ago.  

The brokerage also raised its target price for China  Taisan to S$0.35 from S$0.30 and kept its " buy"  rating.  ($1 = 6.619 Chinese Renminbi)  

(Reporting by Charmian Kok)  

((charmian.kok@thomsonreuters.com)(+65 6403 5666)(Reuters  Messaging: charmian.kok.reuters.com@reuters.net))


Keywords: SINGAPORE MARKET STOCKS/  

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zhixuen
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21-Mar-2011 16:00     
 
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I emailed again to shoot them about the  dropping share price.

This is their replied.

Dear Chia,

 

We understand that our stakeholders are disappointing in the performance of our share prices and low percentage of dividend distributions.

 

For your understanding, we have to maintain a certain level of cash flow in consideration of funding for our construction of new plant as raising debt in PRC is not as easy as it seems. Thus, we could not distribute a higher percentage of dividends and even a share buy-back.

 

Actually on top of running our fundamental business, the management has continuously evaluate the situation and makes proper action and effort in promoting the Company to the capital market. It is really up to the market to appreciate who we are and what we are doing and the behaviour of the share prices is simply beyond the management’s control and comprehend.

 

Thank you.

 

 

Investors Relation 投 資 人 關 係

China Taisan Technology Group Holdings Limited

 

Website: www.china-taisan.com

 

 

The information in this message is confidential and may be legally privileged. It is intended solely for the addressee. Access to this message by anyone else is unauthorized. If you are not the intended recipient, any disclosure, copying or distribution of the message, or any action or omission taken by you in reliance on it, is prohibited and may be unlawful. Please immediately contact the sender if you have received this message in error. Thank you.

freeme      ( Date: 21-Mar-2011 15:48) Posted:



if its jus based on technical wise still okie.. so low for a this growth stock.. nw so low.. i tink PE below 3 with EPS over 20RMB for last yr. Still kana until like that..

sibei sian 

zhixuen      ( Date: 21-Mar-2011 15:34) Posted:



Ya Recent report.

Because the support of 13-months consolidation broken.

CIMB told that if share price continue going down it may reach 0.14 or worst 0.12
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