Sunvic is demonstrating its Power with a persistent share buyback prog!
732000 shares bought back today. 7 million shares traded in total.
The stock goes up 1 cent to 59. When the market sentiment improves, SunVic should reach 70 cents. Agree?
This stock also caught my attention, in fact was waiting to buy at 50 cents not toon long ago when it cheong fast and furious. Valuation cheap, growth prospect good, and rather easy to monitor, just track the AA price and the raw material propeneyl price However, company has rather high gearing and Hugh capex expenses in the near future, shouldn't they be conserving cash? Can't help but SPECulate If they are trying to support the price because some fund raising is imminent. Purely speculation. But definitely worth buying when it reach a low enough level for me.
After a lousy 3Q result, this looks promising. Greenrookie, u r in?
The Board of Directors of Sunvic Chemical Holdings Limited is pleased to announce that the Company’s wholly-owned subsidiary, Jiangsu Jurong Chemical Co., Ltd. has entered into sales agreements (the “Agreements”) to sell its product, acrylic acid (“AA”), to various customers.
Based on the Agreements, the Group will sell and deliver a total of approximately 334,000 tonnes of AA to these customers between end 2011 to end 2014.
The Group’s new Phase I AA plant with an annual capacity of 160,000 tonnes in Taixing City, Jiangsu Province, the People’s Republic of China, has commenced production in November 2011.
These Agreements are expected to have a material positive impact on the consolidated earnings of the Group from the last quarter of 2011 up-to the end of 2014.
Dele,
I am out of the market for a while, for the next 1-2 months, before i decide what to do. Frankly, Q3 earning for many S-chips have been terrible, I will take a wait and see approcah before i invest in anything.
How about you? You have re-enter the stock? Ihave not yet make a detailed analysis for sun vic since the other time, but i find qingmei rather attractive, at current level as compared to sun vic. Higher gearing, more affected by credit tightening. But again, i will wait since i do forsee any catalyst till the next earning season and china credit tightening will not reverse anytime soon.
Yes guys, think can start to accumulate SunVic Chemicals now it hit a low of $0.45 and a high of $0.86 previously. My other penny stock counter would be Memstar Tech and Top Global which are pretty much undervalued.
Yes, 3Q was negative with profit down 41%, though on 9M basis, the profit is still up 44%. The latest contract announcement is a relief but ..... just be wary of the sharply rising finance expenses as their interest-bearing liabilities have shot up from 1.0b to 1.7 b yuan. Interestingly, 1 b of these liabilities are guaranteed by the chairman + spouse + son and others -- instead of by Sunvic's assets. LOL, so anything goes wrong, these individuals will have to pay up.
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