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Ferrochina
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knightrider
Elite |
16-Nov-2006 09:31
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Now over 77c ! FERROCHINA Ltd expects to see its profit margins improving going forward as the company seeks to change the ratio of its product mix, said its management yesterday.
Speaking at an analyst briefing yesterday, FerroChina's CFO Nelson Fong said that as the company continues to produce more galvanised steel coils in place of anticepticised steel coils, FerroChina's profit margins 'should increase on a year-on-year basis'. These galvanised steel coils - demand is increasing both in China and overseas - offer higher margins than anticepticised steel coils, said Mr Fong. FerroChina, one of the largest galvanised steel coil makers in Asia, has been making a concerted effort to shift production focus to galvanised steel coils over the past few years. As at Sept 30 this year, production of galvanised steel coils contributed to 66.7 per cent of FerroChina's revenue for the first nine months, while output of anticepticised steel coils accounted for the remaining 33.3 per cent. This is a reversal from a year ago - as at Sept 30, 2005 - when steel coils contributed to 65.4 per cent of FerroChina's revenue for the first three quarters of FY2005. Galvanised steel coils had accounted for the remaining 34.6 per cent. She Chun Tai, FerroChina's CEO, told BT after yesterday's briefing that by next year, FerroChina aims to increase the revenue contribution from galvanised steel coils to about 95 per cent of its revenue. It makes sense for the company to focus more on galvanised steel coils as they are in demand in export markets, unlike anticepticised steel coils, said Mr She. Nearly 60 per cent of FerroChina's galvanised steel coil output is exported overseas to markets like UK, Germany and France, while its anticepticised steel coils are purely for the home market. FerroChina on Tuesday reported that its Q3 2006 net profit rose 33.8 per cent year-on-year to 54.3 million yuan (S$10.7 million), bringing its net profit for the first nine months to 213.8 million yuan. Its revenue also jumped by 52 per cent year-on-year to 906.7 million yuan boosted mainly by the company's successful penetration into new export markets in the US, Europe and Asia. Its gross and net profit margins for Q3 2006 were about 8.6 per cent and 6 per cent respectively. FerroChina's management also said yesterday that the company is on the lookout for new acquisitions to boost its growth. At the beginning of the year, the company bought a 35.5 per cent stake in Changshu Everbright Co - which makes thin-gauge galvanised steel coils - for US$30 million. It is currently seeking shareholders' approval for the proposed acquisitions of Changshu Xingyu Advanced Building Material Co Ltd and Changshu Xinghai Advanced Building Material Co Ltd. FERROCHINA Ltd expects to see its profit margins improving going forward as the company seeks to change the ratio of its product mix, said its management yesterday.
Speaking at an analyst briefing yesterday, FerroChina's CFO Nelson Fong said that as the company continues to produce more galvanised steel coils in place of anticepticised steel coils, FerroChina's profit margins 'should increase on a year-on-year basis'. These galvanised steel coils - demand is increasing both in China and overseas - offer higher margins than anticepticised steel coils, said Mr Fong. FerroChina, one of the largest galvanised steel coil makers in Asia, has been making a concerted effort to shift production focus to galvanised steel coils over the past few years. As at Sept 30 this year, production of galvanised steel coils contributed to 66.7 per cent of FerroChina's revenue for the first nine months, while output of anticepticised steel coils accounted for the remaining 33.3 per cent. This is a reversal from a year ago - as at Sept 30, 2005 - when steel coils contributed to 65.4 per cent of FerroChina's revenue for the first three quarters of FY2005. Galvanised steel coils had accounted for the remaining 34.6 per cent. She Chun Tai, FerroChina's CEO, told BT after yesterday's briefing that by next year, FerroChina aims to increase the revenue contribution from galvanised steel coils to about 95 per cent of its revenue. It makes sense for the company to focus more on galvanised steel coils as they are in demand in export markets, unlike anticepticised steel coils, said Mr She. Nearly 60 per cent of FerroChina's galvanised steel coil output is exported overseas to markets like UK, Germany and France, while its anticepticised steel coils are purely for the home market. FerroChina on Tuesday reported that its Q3 2006 net profit rose 33.8 per cent year-on-year to 54.3 million yuan (S$10.7 million), bringing its net profit for the first nine months to 213.8 million yuan. Its revenue also jumped by 52 per cent year-on-year to 906.7 million yuan boosted mainly by the company's successful penetration into new export markets in the US, Europe and Asia. Its gross and net profit margins for Q3 2006 were about 8.6 per cent and 6 per cent respectively. FerroChina's management also said yesterday that the company is on the lookout for new acquisitions to boost its growth. At the beginning of the year, the company bought a 35.5 per cent stake in Changshu Everbright Co - which makes thin-gauge galvanised steel coils - for US$30 million. It is currently seeking shareholders' approval for the proposed acquisitions of Changshu Xingyu Advanced Building Material Co Ltd and Changshu Xinghai Advanced Building Material Co Ltd. Speaking at an analyst briefing yesterday, FerroChina's CFO Nelson Fong said that as the company continues to produce more galvanised steel coils in place of anticepticised steel coils, FerroChina's profit margins 'should increase on a year-on-year basis'. These galvanised steel coils - demand is increasing both in China and overseas - offer higher margins than anticepticised steel coils, said Mr Fong. FerroChina, one of the largest galvanised steel coil makers in Asia, has been making a concerted effort to shift production focus to galvanised steel coils over the past few years. As at Sept 30 this year, production of galvanised steel coils contributed to 66.7 per cent of FerroChina's revenue for the first nine months, while output of anticepticised steel coils accounted for the remaining 33.3 per cent. This is a reversal from a year ago - as at Sept 30, 2005 - when steel coils contributed to 65.4 per cent of FerroChina's revenue for the first three quarters of FY2005. Galvanised steel coils had accounted for the remaining 34.6 per cent. She Chun Tai, FerroChina's CEO, told BT after yesterday's briefing that by next year, FerroChina aims to increase the revenue contribution from galvanised steel coils to about 95 per cent of its revenue. It makes sense for the company to focus more on galvanised steel coils as they are in demand in export markets, unlike anticepticised steel coils, said Mr She. Nearly 60 per cent of FerroChina's galvanised steel coil output is exported overseas to markets like UK, Germany and France, while its anticepticised steel coils are purely for the home market. FerroChina on Tuesday reported that its Q3 2006 net profit rose 33.8 per cent year-on-year to 54.3 million yuan (S$10.7 million), bringing its net profit for the first nine months to 213.8 million yuan. Its revenue also jumped by 52 per cent year-on-year to 906.7 million yuan boosted mainly by the company's successful penetration into new export markets in the US, Europe and Asia. Its gross and net profit margins for Q3 2006 were about 8.6 per cent and 6 per cent respectively. FerroChina's management also said yesterday that the company is on the lookout for new acquisitions to boost its growth. At the beginning of the year, the company bought a 35.5 per cent stake in Changshu Everbright Co - which makes thin-gauge galvanised steel coils - for US$30 million. It is currently seeking shareholders' approval for the proposed acquisitions of Changshu Xingyu Advanced Building Material Co Ltd and Changshu Xinghai Advanced Building Material Co Ltd. |
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Livermore
Master |
04-Nov-2006 20:25
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Oh thanks Singaporegal. I think it needs to clear 77c then uptremd confirm | ||||
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singaporegal
Supreme |
04-Nov-2006 20:02
Yells: "Female TA nut" |
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It MAY be experiencing a price reversal upwards now. But need a few more days to double confrim. | ||||
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Livermore
Master |
04-Nov-2006 17:09
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Hi Allantanhc, Cashiertan senior & Singaporegal, What do you think of FerroChina? |
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Livermore
Master |
23-Oct-2006 10:45
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There should be more upside to FerroChina | ||||
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knightrider
Elite |
16-Oct-2006 09:40
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It is reaching the next level of 0.76 liao after I sold off at 0.75 to take profit. | ||||
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knightrider
Elite |
13-Oct-2006 16:58
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Hi, For those who did purchase at 0.675 - 0.685, I think is good to take profit, it is hitting a high of 0.75 and among the top 30 volume counters today. I just took profit just now at 0.75 ! Good luck. |
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knightrider
Elite |
28-Sep-2006 16:20
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Hi, It start to move north again ! |
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chipchip66
Master |
27-Sep-2006 11:48
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Yes, i believe this is a good counter to go in as steel prices are on the up eventhough it is quite volatile. try looking at unionsteel. I am also monitoring this counter. | ||||
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knightrider
Elite |
27-Sep-2006 10:49
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Hi Everyone, IS this a low to go in now at 0.665c because it always stay above water of 0.7+ . And it announce that the company director sell share to top manager employees. Plus there is some take up by HG metal previously when it IPO. Anyone thinks this is a good invest ? Thks. |
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allantanhc
Veteran |
14-Sep-2006 11:13
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From SGX posting, a non-executive director sold 3.23 million shares at $0.70 a piece to employees. A positive move to give a stake to employees. | ||||
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Nostradamus
Supreme |
13-Sep-2006 00:00
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It said it has agreed to exercise its rights under existing call option agreements to buy the entire equity interest in Changshu Xinghai Advanced Building Material Co Ltd (Xinghai) and Changshu Xingyu Advanced Building Material Co Ltd (Xingyu), which are currently held by FerroChina directors, for 8.5 mln usd. The call option was granted in April 2005. CEO She Chun Tai said this is "an important strategic step in the development of FerroChina as a global player in the steel processing industry" given that the First Steel Policy in China now restricts the setting up of new steel producers and processors. Both Xinghai and Xingyu have been granted licenses by Jiangsu's provincial authorities to produce cold rolled steel coil products. "This acquisition could potentially enhance both the operational and financial performance of the group and our overall growth sustainability and competitiveness," She added. Xinghai and Xingyu have a total target capacity of 1m metric tons by January 2008. Combined with FerroChina's existing operations, the group's total production capacity is expected to reach 3.5m metric tons per annum. |
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Nostradamus
Supreme |
21-Aug-2006 11:28
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KE has a price target of $0.98. | ||||
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Gallen
Senior |
17-May-2006 08:31
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chart updated at http://kelongstocks.blogspot.com | ||||
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Gallen
Senior |
26-Apr-2006 08:32
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simple technical analysis at my blog http://kelongstocks.blogspot.com please "support" my blog, thanks :) | ||||
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Gallen
Senior |
26-Apr-2006 00:30
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x 0
x 0 Alert Admin |
My take on 1Q 2006 results at http://kelongstocks.blogspot.com Please "support" my blog, many thanks :) | ||||
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