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sunview
Member |
06-Nov-2006 14:54
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Merrill Lynch issued Buy call on China Sun with $1.26 target price. Despite rising corn prices, we expect China Sun's 3Q06 core earnings to come in higher than 2Q06 at RMB75-80mn. However, its 9M06 net profits could be flat against 9M05?s RMB180mn after factoring in the RMB30-40mn fair value loss. We are reviewing our FY06 earnings to account for the loss, but it should not affect our DCF valuation. Management could also surprise with new project details with the successful issue of its US$100mn CB in Oct 06. |
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Nostradamus
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30-Oct-2006 21:09
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This stock is still in a downtrend. It got riled 6.5 cents down at 67 cents on various rumours, dealers said. A technical breakdown at 70 cents had probably triggered a string of cut loss selling. |
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knightrider
Elite |
30-Oct-2006 16:18
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Thks you all, I nearly hop in when 0.68. Now is more clear, seems 0.67 is coming liao !!! |
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WilliamSeow
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30-Oct-2006 15:09
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Hi, The next support is at $0.60 according to chart TA. |
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knightrider
Elite |
30-Oct-2006 14:30
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ok, thks Singaporegal ! I also noticed whenever oil price drops, this will deepen further south. Thks anyway, I will keep away from this counter. |
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singaporegal
Supreme |
30-Oct-2006 14:16
Yells: "Female TA nut" |
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Hi knightrider, I think this one will probably go further south. |
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knightrider
Elite |
30-Oct-2006 14:11
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Now is 0.675, very attractive, what do you all think ? |
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knightrider
Elite |
30-Oct-2006 10:09
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Hello Singaporegal, What do you think about this time to grab at 0.68, since it down so much liao ? |
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knightrider
Elite |
18-Oct-2006 15:58
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Hi Singaporegal, Thks, will wait then ! Because, saw it suddenly turn so quiet lately. Take care and have a nice day. |
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singaporegal
Supreme |
18-Oct-2006 15:42
Yells: "Female TA nut" |
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Hi knightrider, I think its still going south some more from the TA charts. |
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knightrider
Elite |
18-Oct-2006 15:41
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Hi, Is this the right time to go for this counter ? Previously, this is always in the top volume list, now so quiet. Is their bio-business partnership with Hutchson Whampoa group still on or not ? |
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lowpeckkiyau
Member |
21-Sep-2006 13:38
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Dear Gurus, Sifu/TA experts.... I'm learning to read the TA chart. RSI is below 50 and MACD is below O. From TA analysis, it does not look like going Uptrend. Pl correct me and share with your own interpretation. Pl note that I'm a novice and just picking up my courage to read at the TA Chart. Hoping to learn from the experts. The chart is there, but do not know how to look at it....though attended a TA course, but do not know how to interpret by reading the TA Chart. tks |
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lionking
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20-Sep-2006 22:41
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hi, noticed that sentiment is coming back.. time to buy this ? |
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Nostradamus
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17-Sep-2006 00:39
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There has been selling over the viability of its ethanol project if oil prices continue to drop. Its first 100,000-tonne ethanol plant is expected to come online in Nov and it has plans to add another 200,000 tonnes of production capacity. |
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Nostradamus
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07-Sep-2006 19:34
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You're welcome, tandnj. DBSV said the increase in shares represented a potential dilution of 18.3% in the company's earnings. "Taking into account the amortization of interest on the convertible bonds, we have reduced our earnings forecasts for 2006 and 2007 by 4.6% and 6.3% to 298.5m yuan and 347.8m yuan, respectively," DBSV said in a note to clients. However, the brokerage said it was keeping its "buy" rating for the stock in view of the company's bright prospects. KE said it was keeping its "buy" rating for the stock, but that it was likely to trim its estimates of the company's earnings for next year and 2008. |
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tandnj
Member |
07-Sep-2006 13:29
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Thanks Nostradamus. Plenty to learn from you. |
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Nostradamus
Supreme |
07-Sep-2006 11:19
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More shares mean price falls. But if it uses the proceeds to add value to the company, then price will rise later. Using the proceeds for producing ethanol and maybe corn sweeteners. All these products command higher margins than corn starch. |
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Nostradamus
Supreme |
07-Sep-2006 11:16
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It said it is planning to issue up to US$100m in zero-coupon convertible bonds due Oct 4, 2011. The bonds are convertible into fully-paid ordinary shares in the company at a conversion price of $1.0725 per share. The company said up to 146 mln shares are expected to be issued, representing about 15.5% of China Sun Bio-Chem's enlarged capital. Proceeds from the issue will fund business expansion and potential acquisition, as well as working capital, the company said. "Whilst our fuel ethanol application is still being considered by the relevant authorities in China, this fund-raising exercise will better position the group, financially, to expand and optimize its production capacity to introduce different ethanol products to meet market demand," China Sun chief executive Sun Gunji said in a statement. |
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Nostradamus
Supreme |
06-Sep-2006 23:43
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That is US$100m of convertible bonds due 2011. |
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tandnj
Member |
06-Sep-2006 23:14
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With the issuance of the $100m CBs, what impact will this likely to have on the share price of China Sun ? It was suspended from trading today. |
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