Qingmei

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11 years 11 months ago #12074 by Guest
Replied by Guest on topic Re:Re:Qingmei
the boss of Qingmei has many ways to transform the cash (if it is real) to his personal money. only very stupid people will run away. So far, many S-chip's cash disappeared suddenly but how many of them being punished?

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  • CS
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11 years 11 months ago #12075 by CS
Replied by CS on topic Re:Qingmei
I view the sale of shares by High Crown positively:
1.The amount raised by Mr Su thru the sale is about S$3 million, not a big sum and probably for personal use. But for any party to fork out that money to buy shares in Qingmei at this time must have studied the company carefully and feel comfortable with its accounts, the cash and machines etc. This sale also kills the rumours that the company had closed down which has caused a lot of worries to investors. The purchase price is about 20% above market price! This is something to ponder about.
2. Good for Mr su to raise funds this way instead of declaring a dividend as keeping the cash is important at this time to tide the company over the difficult market situation.
3. Mr. Su has committed not to sell anymore shares in the next 9 months and that means he will standby the company and try to steer it out of the storm. The next 9 months is the end of Qingmei's current financial year and maybe this is the period market will change to the better,who knows I am willing to hold the stock for the next 9 months.

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11 years 11 months ago - 11 years 11 months ago #12089 by Joshua
Replied by Joshua on topic Re:Re:Qingmei
Well... I would like to point out that the fact there are investors willing to pay 6.5cents per share for this company doesn't meant that they are definitely right... These investors might be individuals or fund managers and the investments made in Qingmei may form only a small portion of their overall portfolio Even if the stock becomes worthless, there are not much impact to them overall...
Just look at the case of Oceanus... GREAT OCEAN PARTNERS LIMITED bought a 11% stake in Oceanus at 7.2cents through a loan restructuring exercise in August 2012 and in only 3 months, they have disposed more than 6% of their shareholdings at 3cents a piece, taking a loss of more than 50%...
If based on first hand information, do you think those investors have more information than the CEO(seller) or the CEO himself who is involved in the day to day operation of the company knows more about the situation of the company?
In additional, I would also like to highlight that in the event that the CEO run away with the money, there are currently no law to prosecute him as there are no treaty between Singapore and China to bring him over to Singapore for prosecution and he is able to get away freely... That's the loop hole and hence the reason why so many s chips are facing this problem...
My intention here is not to scare anyone, but to alert and hopefully, prevent these poor investors from suffering more losses... It might be hard to stomach the losses at 5cents, but at least you get back something in return...
Last edit: 11 years 11 months ago by Joshua.

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  • CS
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11 years 11 months ago #12090 by CS
Replied by CS on topic Re:Qingmei
Yes, Joshua is right that investors big or small make mistakes. I am not familia with Oceanus and not sure we can draw a paralle line between  the two.
What we know is the industry is in bad shape and the company is making some losses with steep decline in sales but financials remain strong, according to the accounts. So can we trust the company and its management? Do we think the company can turn around say in the next 12 months?
Mr Su built his business single-handedly without an MBA degree (so I understand). He may have made some mistakes in expanding his businesses (including his other personal investments) too aggressively, but I don't think he will just give up the company and see it go down the drain like that without making any effort to steer it out of the trouble, the same problems actually faced by many other companies. Weaker companies will surely be phased out but I think Qingmei has a good chance of survival.
This may be my wishful thinking but I trust that Su will not kill his baby.
[img]plugins/editors/jce/tiny_mce/plugins/emotions/img/smiley-cool.gif[/img]

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  • Dan
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11 years 11 months ago #12091 by Dan
Replied by Dan on topic Re:Qingmei
Note to Mr Su: 
Dear sir, your shareholders and some investors are concerned about the state of your business. Can you make an effort to address these concerns? In particular, there are online articles that your biz has shut down and machinery sold. Respectfully, you cannot remain silent on such rumours. They are killing your stock price. Do you not care? You cannot maintain a distance from the market perception of your company. Instead you should pro-actively do things to enable the market to achieve a view that correlates closely with the situation in your biz. I wonder what your Independent Directors and CFO think. Have they prodded you to come out and clarify the situation?  Regards Dan

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11 years 11 months ago #12092 by Guest
Replied by Guest on topic Re:Re:Qingmei
Why should Mr Su a multi-millionaire care about you?? If I am Mr Su, this is how I will reply. "This stock market is not for everyone, you got spare money you play a little. You got no money, you play , then it is a gambling. My company is facing some difficulties, you know one has two feet only, they can only afford to buy one or two sports in 2-3 years. My factory produces inventories of more than 2 years, now they are taking the old stock. Now I leave it to my management, I taking it easy. Buy some properties for my future generations and my retirement. Stock market is not for everyone. thank you for your continued support."

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