Qingmei

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12 years 1 month ago - 12 years 1 month ago #8331 by Joes
Replied by Joes on topic Re:Qingmei
Things are not crystal clear and they might never be.  Investors can only hope that Qingmei's business and accounts are properly presented.

Let me ask a hypothetical question: What if instead of the chairman selling a big stake in QingMei, his wife were buying a big stake in the open market for the past, say, 3 months?

You would think she's smart buying at ultra-cheap valuations.

Hahaha.... there's more than meets the eye! Why I say this? Look at what happened in Hongwei Technologies. The wife of the CEO was accumulating stock for a long period. And in the end, the company was found to have missing cash and IPT.
HONGWEI: CEO's wife on last-minute $510,000 shopping of shares
www.nextinsight.net/index.php/story-arch...0-shopping-of-shares
To be more accurate, if I recall correctly, during the period Hongwei woman was accumulating stock, the accounts and cash were ok. It was only much later in early FY11 that cash went missing. God knows why it happened.
Last edit: 12 years 1 month ago by Joes.

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12 years 1 month ago #8336 by jameskuwe
Replied by jameskuwe on topic Re:Re:Qingmei
As expected short term investors (traders) reacted adversely to the sale of chairman Su's stocks. Share price got dragged down to 17cents. But I expect it to move up to 18-19 cents again by this week. Fundamentally strong company. With the London Olympics sales of sports shoes soles should increase by record number

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12 years 1 month ago #8339 by penghock
Replied by penghock on topic Re:Qingmei
let me share my opinion, i cut loss my Qingmei some time back. no regret.
1. they cannot guarantee dividend for next year.
2. the CEO keeps selling, without much explanation.
 
these 2 make me very uncomfortable holding Qingmei, thus I decide to cut loss.

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12 years 1 month ago #8359 by jameskuwe
Replied by jameskuwe on topic Re:Re:Qingmei
panic selling has stopped. price stabilising at 17 cents. thank goodness

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12 years 2 weeks ago #8623 by ethan999
Replied by ethan999 on topic Re:Qingmei
Extremely good financial numbers, if their numbers are accurate then this must be 1 of the most undervalued stocks in SGX. Yet both Chairman Su and Hunter Hall have been selling their shares. Really puzzling unless something's wrong. Also noticed that they changed CFOs back in December, this is not in itself a sure sign but it adds to the doubts. 
As Qingmei continues to fall since Hunter Hall first announced its sales, could Hunter Hall still be selling more?
12.8 cents now and to think just as recently as February it touched over 20 cents. 
Not vested but watching. 

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12 years 2 weeks ago #8624 by jameskuwe
Replied by jameskuwe on topic Re:Re:Qingmei
Hunter Hall is likely window dressing. Current price is very attractive. I doubled my holding. CEO still holding more than 50% of shares. profits will likely increase due to Olympics and Euro 2012, I hope.

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