Penny stocks on the move

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12 years 2 months ago - 12 years 2 months ago #8879 by greenrookie
Actually, for the down beaten s chips, I like foreland ( price and business), hu an ( not the price yet but like the business), then qingmei ( like the price but have reservation of business) And hank ore ( for it's potential).. Qingmei is relatively new in SGX. No track record to monitor. The chairman seems indifference to small shareholders. I was lucky that I followed my own rules selling a s chip counter after that announce full year earning and buy back ( if prices didn't rise too much) after books get audited. I managed to escape the chairman mad sell down of qingmei at 16 plus cents then when qingmei price is around 19. I would be struck at 18 plus cents but managed to sell them away at around 20 cents because I follow my own safety guides. Take note too that CFO was changed and the chairman have not come clean with his xibodeng problem. I remembered seeing somewhere during one of the quarter report that he no longer own xibodeng. That is good news. Qingmei managed to expand very quickly and capture market shares when the industry is booming. I was prepare to grant 3 quarters of loss making ( they have the resources to ride it out) to qingmei before I think either the industry turn or the nearby Jiangsu provincial capital Nanjing host the youth olympic .. Also I have already expect Qingmei profitability to fall in q1 onwards, so I already earn 2 quarters of time and the price is so low now, so I think I will try my luck In investment, trade without emotion, dun try to prove anyone wrong and start buying counters. Just my 2 cents' worth.
Last edit: 12 years 2 months ago by greenrookie.
The following user(s) said Thank You: zane

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12 years 2 months ago #8880 by peterlynch
Great strategies there. Where did u read CEO no longer owns xibodeng? QM quarter report? I don't remember reading anything about xibodeng in QM reports.

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12 years 2 months ago #8881 by greenrookie
It was foonote of quarter reports about xibodeng as related third parties and then 1 of the quarter report tyereafter stating it is no longer the case. I can't remember specific which year and quarter was that, but it was under debt and liabilities section.

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12 years 2 months ago #8886 by peterlynch
ok will do a search. pls keep me updated when u start buying, if possible. thanks

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12 years 2 months ago #8887 by peterlynch
found it-As at 30 June 2011, the Group‟s unsecured bank loans amounted to approximately RMB10.0 million with no guarantee. The unsecured bank loan as at 30 June 2010 was guaranteed by an independent major customer*. * The independent major customer represents Jinjiang Xibodeng Sportswear Co., Ltd. (“Xibodeng”). Xibodeng has become an interested party to the Group since the acquisition by Mr. Su Qingyuan as detailed in Note 13. Accordingly, Xibodeng was still considered as a major independent customer to the Group as at 30 June 2010. From 2011 full year results

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12 years 2 months ago #8888 by peterlynch
More- Jinjiang Xibodeng Sportswear Co., Ltd. (晋江喜伯登体育用品有限公司) (“Xibodeng”)  Supply of sport shoe soles to Xibodeng Xibodeng is directly owned by our Executive Chairman and Chief Executive Officer, Mr Su Qingyuan since18 January 2011

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