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I switched away with some loss. Wanted for long term but not a good counter to hold long.
oops... just a few moment ago, there's someone around who profess the love and sing the praise of this counter even...
junk
marubozu1688 ( Date: 15-Oct-2009 17:04) Posted:
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China Hongxing bounced back again and closed at $0.205 today! Hope it can hold $0.205 support line!
http://mystocksinvesting.blogspot.com/search/label/China%20HongXing
Your entitle to all benefits on the day you purchase you it. ChinaHongx is junk stock though.
kuang3 ( Date: 24-Sep-2009 15:29) Posted:
| unfortunately i bought 10 lots of this junk, any bro know how to claim the dividend? i hold only for like 1 mth only. eligible?
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China Hongxing Sports downgraded to hold
02/10/2009
Kim Eng Research in an Oct 2 research report says: "CHHS’s intention to buy back shares in 3Q09 did not materialise.
With the share purchase mandate approved, we believe it is a matter of time that the company executes share buy-back,
possibly at lower share price levels.
"Subjected to the maximum limit of 10% of the issued ordinary share capital, the group could buy back up to 280 million shares.
The group is seating on a huge pile of net cash of RMB2.67 billion as at June 2009. Assuming a dividend payout of 20% that is
in line with past trends and the share buy-back program to be activated, we estimate that only a mere RMB350 million could
be returned back to share holders. We continue to peg the stock to 8x FY10 PER, a 40% discount to its HK peers that is in line
with its smaller store network and weaker earnings. Target price of 23 cents. DOWNGRADE TO HOLD."
Kim Eng Research
unfortunately i bought 10 lots of this junk, any bro know how to claim the dividend? i hold only for like 1 mth only. eligible?
Junk stock la. I have been stressing so much. Something is wrong with this burger. JUNK
el7888 ( Date: 17-Sep-2009 21:10) Posted:
Not too sure what happened to China Hongx, just be careful!
| SGX raps China Hongxing for late disclosure |
| 17 Sep 2009 |
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The Singapore Exchange has chided mainboard-listed sportswear firm China Hongxing for a late announcement.
SGX says the S-chip took 6 days before releasing the information that fund manager J-F Asset Management had ceased to be a substantial shareholder.
The regulator says China HongXing took too long to do so.
JF Asset Management had told the firm in July that it ceased to be a substantial shareholder, but the firm only informed the market about it in August.
Under the Listing Rules, SGX says such information must be disclosed immediately.
On September 7, China Hongxing also disclosed that it was unable to verify whether or not it had received notifications from JF Asset
Management relating to changes in shareholdings between 8 January 2008 and 27 February this year.
JF Asset, which is owned by JPMorgan Asset Management, had said it notified China Hongxing of its decision to sell the assets in January and February.
But China Hongxing reported the transaction only in August.
SGX says it appears that China Hongxing does not have proper systems and procedures in place to receive and announce information in a timely manner.
It wants the firm to devote adequate resources to ensure that such episodes will not recur.
China Hongxing also has to report to SGX what it has done to review and strengthen its internal procedures. |
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Not too sure what happened to China Hongx, just be careful!
| SGX raps China Hongxing for late disclosure |
| 17 Sep 2009 |
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The Singapore Exchange has chided mainboard-listed sportswear firm China Hongxing for a late announcement.
SGX says the S-chip took 6 days before releasing the information that fund manager J-F Asset Management had ceased to be a substantial shareholder.
The regulator says China HongXing took too long to do so.
JF Asset Management had told the firm in July that it ceased to be a substantial shareholder, but the firm only informed the market about it in August.
Under the Listing Rules, SGX says such information must be disclosed immediately.
On September 7, China Hongxing also disclosed that it was unable to verify whether or not it had received notifications from JF Asset
Management relating to changes in shareholdings between 8 January 2008 and 27 February this year.
JF Asset, which is owned by JPMorgan Asset Management, had said it notified China Hongxing of its decision to sell the assets in January and February.
But China Hongxing reported the transaction only in August.
SGX says it appears that China Hongxing does not have proper systems and procedures in place to receive and announce information in a timely manner.
It wants the firm to devote adequate resources to ensure that such episodes will not recur.
China Hongxing also has to report to SGX what it has done to review and strengthen its internal procedures. |
does it mean more selling than buying?
there's a buy queue of 500 lots but sell queue at 23cents is 18,000..
Any thoughts on this counter? Seems to have a large buying up volume at 23c....
<>
Sep 7, 2009
<>
China Hongxing not notified
| By Jessica Cheam
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THE mystery has deepened over a five-month delay in the disclosure of a significant share sale by a substantial shareholder of China Hongxing Sports.
The sportswear company's chief executive and executive director, Mr Wu Rongzhao, said on Monday that investigations into the delay indicated that China Hongxing did not receive any notification from major shareholder JF Asset Management (Singapore) that it had reduced its holding in the company.
However, this is at odds with a statement last week from JPMorgan Asset Management, which now owns JF.
It said it had faxed timely notifications to China Hongxing when it reduced its holding from 9.25 per cent to 4.08 per cent between Jan 8 and Feb 27 this year.
But China Hongxing reported these significant transactions in a one-page statement only on Aug 6.
The firm's late disclosure that JF had pared its stake in China Hongxing after selling 126.5 million shares in the company came to light after a series of reports by The Straits Times recently.
The Singapore Exchange (SGX) then said it was looking into the delay and would take appropriate action where necessary.
Mr Wu said in a statement to the SGX yesterday that he had spoken to the people responsible for receiving such notifications and those with access to the company's fax machines.
Based on the responses, 'none of the relevant staff have received any of the fax notifications', he said.
China Hongxing is thus unable to verify if the fax notifications were successfully transmitted previously, even though it was noted that JF had faxed transmission confirmations, he said.
The company was also not able to retrieve any transmission records for the relevant dates, given that this was some time ago, said Mr Wu.
Hi phil1314,
Many thanks for expressing your appreciation, but remember to dyodd as I might also be wrong at times.
phil1314 ( Date: 28-Jul-2009 23:16) Posted:
Same here as sold off China HonXin for good profits. Have gone fishing elsewhere and not in this equity pond until the next wave retreat. Will look out for the next high tide. Thanks richtan, you have been a good guide.
lsj840428 ( Date: 28-Jul-2009 19:00) Posted:
| what other opportunities you r looking at? mind to share?
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I switched from CHHX into Midas and further increased my stake in Midas, but dyodd
lsj840428 ( Date: 28-Jul-2009 19:00) Posted:
what other opportunities you r looking at? mind to share?
richtan ( Date: 28-Jul-2009 12:42) Posted:
| Sold all my red star for very good handsome profit, no regrets even if it moves up subsequently, shall not be monitoring this stock any more, on lookout for other buy opportunities in other stocks. |
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Same here as sold off China HonXin for good profits. Have gone fishing elsewhere and not in this equity pond until the next wave retreat. Will look out for the next high tide. Thanks richtan, you have been a good guide.
lsj840428 ( Date: 28-Jul-2009 19:00) Posted:
what other opportunities you r looking at? mind to share?
richtan ( Date: 28-Jul-2009 12:42) Posted:
| Sold all my red star for very good handsome profit, no regrets even if it moves up subsequently, shall not be monitoring this stock any more, on lookout for other buy opportunities in other stocks. |
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what other opportunities you r looking at? mind to share?
richtan ( Date: 28-Jul-2009 12:42) Posted:
| Sold all my red star for very good handsome profit, no regrets even if it moves up subsequently, shall not be monitoring this stock any more, on lookout for other buy opportunities in other stocks. |
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Hi snooty,
So sorry, thus why I always remind newbies to learn TA so tat we can be independant of others,
I also always remind newbies to remember the old adage:
"Learn to fish n u can fend for yourself for life, rely on others n u are at the mercy of others"
Any price is a good price to off-load either if u are contented with the profits or if u are TA inclined, at any sell sign from your interpretation of the charts or if it hits your stop-loss point or if u intend to reallocate your funds n looking out for other stocks.
I suggest u click on my nick, take your time, slowly read al of my past sharings, advice n particularly the thread in "Others - Learning TA" tat I created with newbies in mind.
l wish u all the best
snooty ( Date: 28-Jul-2009 13:52) Posted:
oh no! im going to miss all your good postings on TA! Btw, im still holding on to this n dun know what price would be good to offload.. hahah..
richtan ( Date: 28-Jul-2009 12:42) Posted:
| Sold all my red star for very good handsome profit, no regrets even if it moves up subsequently, shall not be monitoring this stock any more, on lookout for other buy opportunities in other stocks. |
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I have been reading n learning from your posting since I came here , another victory for TA again , good luck to u .
richtan ( Date: 28-Jul-2009 14:25) Posted:
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Thanks a lot, long time no hear from you, glad tat u are still here.
Same to u.
hope all of us HUAT AHHH!!!
Bintang ( Date: 28-Jul-2009 14:22) Posted:
| Richtan , kong see , kong see , I share your happiness |
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