Qingmei

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13 years 1 month ago #5371 by Rich
Replied by Rich on topic Re:Qingmei
Stock at 26 cents is cheap? This morning there is quite a lot of buying.....

Kim Eng report suggests that the stock is undervalued at 32 cents - now still cheaper at 26 cent.

www.remisiers.org/cms_images/ssu28012011.pdf

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12 years 7 months ago #6964 by Dongdaemun
QINGMEI has declared a final dividend of 12.92 rmb cents!!!
That's a yield of about 12%!!!

This is an extraordinary s-chip (until it proves itself oterwise.... caveat emptor).

GROUP’S FULL YEAR NET PROFIT UP 10.3% TO RMB275.6 MILLION

- Revenue rises 9.4% to RMB1.3 billion

- Gross profit margin down marginally to 28.9% due to higher manufacturing overheads

- Proposes final dividend of RMB 12.92 cents per ordinary share

- Seeking potential investments to expand shoe sole business and achieve synergies through vertical integration

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12 years 7 months ago - 12 years 7 months ago #6967 by greenrookie
Replied by greenrookie on topic Re:Qingmei
Results has lots more positives than negatives.
Top line improve, rough estimate of 50% utilization rate for the new capacity for Q4 suggest demand is strong. High operating cash flow ensure sustainability and predictability of business, in fact loans is paid down. Bottomline didn't improve as much due to research expenses and higher other expenses. Will be looking closely at this in the future quarters.
Looking to vertically integrate business? Does that means it will go downstream and come up with their own shoes brand.? Chairman also own xibodeng brand, any chances of assets injection? But wonder why xibodeng stop purchasing from qingmei? Wouldn't that be better since the money will go from left pockets to right pockets? Any comments? Observer2 and ethan999. Double my stake just before the annoucement as I calculate that 2.5 cents dividends is good. Wasn't too far off with about 2.44 cents dividends declared. Hope they continue with30% profits dividend policy
Last edit: 12 years 7 months ago by greenrookie.

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12 years 7 months ago #6969 by penghock
there is a fund manager have a big doubts on qingmei business because, the admin expense didn't really increase significant compared to the revenue and operation expansion.
 
they asked qingmei management if any automation in the factory to reduce headcounts but management say no. Thus the fund manager very curious why qingmei didn't increase their staff headcount (staff cost) since rational told us more business needs more manpower right?
 
any bro here who attend pls do highlight this in AGM. 

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12 years 7 months ago #6970 by observer2
Replied by observer2 on topic Re:Qingmei
Hi, Greenrookie,
Rising wages and raw materials cost are affecting the profits of virtually all the S-chips and Qingmei has not been spared. So far, SinoGrandness appears to be one of the rare ones able to report impressive profit growth this round. However, Qingmei is still one of the better, very undervalued S-chips with exceedingly high dividend yield; low downside risk (STI can drop by over100 points, this stock would drop by one or two cents at most); and relatively easier to monitor its quarterly performance (from market demand, production volume & ASPs).
It is most unfortunate that XI BO DENG, (which Chairman Su and his brother has a personal stake), has turned sour with the closure of its chain of “Buziba” sport shoe stores. You can read about this in the following website - cn.sonhoo.com/info/shownews.aspx?newsid=539192&page=0
If Qingmei were to go downstream with its own brand of sport shoes, it could well become another Xi Bo Deng or China Hongxing or China Sports; and I would be double quick to get out this stock. There was concern earlier that Qingmei would have bad debt from Xi Bo Deng. The latest results have clarified that Qingmei had collected fully the RMB13.1M owed by Xi Bo Deng in August 2011.
Qingmei is also Chairman Su’s golden goose or “cash cow”. I believe he would want to take good care of this animal, at least in the near future.
 

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12 years 7 months ago #6971 by penghock
Replied by penghock on topic Re:Qingmei
hi observer2,
i agree with you on qingmei should NOT involve in shoes making such as hongxing etc. I am still in China and I found out sport wears only form may b 50% of retail shop, where another 50% is clothings.
there are simply too many shoes maker brands in China, and for China there are 4 seasons, and how many times a year will one buy a sport shoes?
if QIngmei go in retail shoes market, I probabably will sell away the stock also.
But again, I believe Su have the talents in business, and he probably have some good ideas of making more revenue for QIngmei in future. I will wait and see..
 

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