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results improve tremendously.
UNAUDITED INCOME STATEMENT FOR 6 MONTHS ENDED 30 JUNE 2013 is OUT
Visit sgx website (I cannot post the link, don't know why)
bro/sis/uncle/auntie don't overlook this SGM w/ chx:
| Date * | 01 Aug 2013 |
| Time * | 03: 00: PM |
| Company * | | CHINA HONGXING SPORTS LIMITED |
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| Venue * | | ANTICA BALLROOM, LEVEL 2, ORCHARD PARADE HOTEL, 1 TANGLIN ROAD, SINGAPORE 247905. |
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hi guys, that means a least there is a chance for China HongX to be open for trading again right?
http://info.sgx.com/webcoranncatth.nsf/VwAttachments/Att_26B8548FE0B5F63648257B890037AC73/$file/results_announcement_1Q2013.pdf?openelement China Hong Xing has tried to submit the proposal for resumption of Trading... for those involved, the quarter does not look good . But from the figures of sales, it does show that the company continues to receive from distributors soundly... It takes time for it to turn from negative loss to profit I think.
Bless those who suffered a loss now.
Nothing we can do??
No news yet???
This Edge is suggesting that EY is false alarm/unjustified - IF true investors can sue EY for this massive sell-off. U think E& is stupid - I bet the situation is NOT so simple. The amount of investors' money lost in China Hongx and China Gaoxian is very substantial - but so far no serious protest like Minibonds case.
Dont know who dare to catch chopper and bomb if resume trading. Those kanna jam inside very headache, sell also die, hold also die, average down die more, sell and short to fight back dont know what happen also, wait kanna burn. So better dont touch this kind of problem, maybe they will race who sell the faster win. Unless their own BBs eat and support the falling px.
Andrew ( Date: 31-Mar-2011 15:19) Posted:
Not as bad as they appear ???
Why did they mention about the auditor who run road in late Oct ?
Why didn't they wait for their retirement in AGM ?
Why need until June to report ?
Why they didn't make a preliminary finding announcement now ? They SUS means that they know what is happening..........
Even if these companies resume trading....I would suggest not buying it........
hpong5 ( Date: 31-Mar-2011 13:06) Posted:
| CHINA HONGXING: Things are not as bad as they appear? |
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Written by The NextInsight Team
Thursday, 24 March 2011 00:50
Go get a copy of The Edge Singapore for $3.80.
AN ARTICLE in the current edition of The Edge Singapore, quoting several sources, suggests that the widely-held worry over possible serious accounting issues or missing cash at China Hongxing is not quite justified.
“China Hongxing has cash. The boss is very rich,” says a source, referring to the Wu family which owns 33% of the company whose trading on the Singapore Exchange has been suspended since Feb 25.
“It’s probably a serious corporate governance issue linked to the behavior of its majority shareholders,” added the same source.
Another source told The Edge Singapore: “Given their character, they are not the type to misappropriate funds.” The company represents the primary business interest of its controlling shareholders.
“They have a small personal business, a wine bar in Xiamen. But they don’t have to use China Hongxing’s funds because they themselves are rich.”
Wu Rongguang, chairman of China Hongxing. Photo: annual report
Kelvin Yeung, CFO of China Hongxing, hints that the problem might lie in the amount of information requested by the newly-appointed auditors, Ernst & Young, versus what the company was willing to disclose.
“This is their first year, so they asked for more information than normal,” he told The Edge Singapore.
“We provided whatever information they needed that is relevant. We haven’t withheld relevant information. We tried our best to give them information they requested.”
A CFO of another company, who has worked for the Big Four auditing firms before, says the auditing process and methodology is the same for big and small accounting firms.
“But there is more red tape in a Big Four firm. For example, if there is an audit issue, it is subject to review by more partners. Some of these issues may be technical issues that are not serious, such as the accounting treatment of certain items.”
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Not as bad as they appear ???
Why did they mention about the auditor who run road in late Oct ?
Why didn't they wait for their retirement in AGM ?
Why need until June to report ?
Why they didn't make a preliminary finding announcement now ? They SUS means that they know what is happening..........
Even if these companies resume trading....I would suggest not buying it........
hpong5 ( Date: 31-Mar-2011 13:06) Posted:
| CHINA HONGXING: Things are not as bad as they appear? |
|
Written by The NextInsight Team
Thursday, 24 March 2011 00:50
Go get a copy of The Edge Singapore for $3.80.
AN ARTICLE in the current edition of The Edge Singapore, quoting several sources, suggests that the widely-held worry over possible serious accounting issues or missing cash at China Hongxing is not quite justified.
“China Hongxing has cash. The boss is very rich,” says a source, referring to the Wu family which owns 33% of the company whose trading on the Singapore Exchange has been suspended since Feb 25.
“It’s probably a serious corporate governance issue linked to the behavior of its majority shareholders,” added the same source.
Another source told The Edge Singapore: “Given their character, they are not the type to misappropriate funds.” The company represents the primary business interest of its controlling shareholders.
“They have a small personal business, a wine bar in Xiamen. But they don’t have to use China Hongxing’s funds because they themselves are rich.”
Wu Rongguang, chairman of China Hongxing. Photo: annual report
Kelvin Yeung, CFO of China Hongxing, hints that the problem might lie in the amount of information requested by the newly-appointed auditors, Ernst & Young, versus what the company was willing to disclose.
“This is their first year, so they asked for more information than normal,” he told The Edge Singapore.
“We provided whatever information they needed that is relevant. We haven’t withheld relevant information. We tried our best to give them information they requested.”
A CFO of another company, who has worked for the Big Four auditing firms before, says the auditing process and methodology is the same for big and small accounting firms.
“But there is more red tape in a Big Four firm. For example, if there is an audit issue, it is subject to review by more partners. Some of these issues may be technical issues that are not serious, such as the accounting treatment of certain items.”
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| CHINA HONGXING: Things are not as bad as they appear? |
|
Written by The NextInsight Team
Thursday, 24 March 2011 00:50
Go get a copy of The Edge Singapore for $3.80.
AN ARTICLE in the current edition of The Edge Singapore, quoting several sources, suggests that the widely-held worry over possible serious accounting issues or missing cash at China Hongxing is not quite justified.
“China Hongxing has cash. The boss is very rich,” says a source, referring to the Wu family which owns 33% of the company whose trading on the Singapore Exchange has been suspended since Feb 25.
“It’s probably a serious corporate governance issue linked to the behavior of its majority shareholders,” added the same source.
Another source told The Edge Singapore: “Given their character, they are not the type to misappropriate funds.” The company represents the primary business interest of its controlling shareholders.
“They have a small personal business, a wine bar in Xiamen. But they don’t have to use China Hongxing’s funds because they themselves are rich.”
Wu Rongguang, chairman of China Hongxing. Photo: annual report
Kelvin Yeung, CFO of China Hongxing, hints that the problem might lie in the amount of information requested by the newly-appointed auditors, Ernst & Young, versus what the company was willing to disclose.
“This is their first year, so they asked for more information than normal,” he told The Edge Singapore.
“We provided whatever information they needed that is relevant. We haven’t withheld relevant information. We tried our best to give them information they requested.”
A CFO of another company, who has worked for the Big Four auditing firms before, says the auditing process and methodology is the same for big and small accounting firms.
“But there is more red tape in a Big Four firm. For example, if there is an audit issue, it is subject to review by more partners. Some of these issues may be technical issues that are not serious, such as the accounting treatment of certain items.”
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See Stars liao...if 4 portions comprised China Milk, China Hongxin, Hongwei tech, Sino Environment.
Some win some lose,
nothing last forever.
Divest your allocation to at least 4 portion.hence even if one goes under, any three can easily make up the loss.
Add to your golden rules
Sell your head la. Taisan still good why sell, i sell because if many fear of s-chip and lost of trust. Then px will go up very very slow and drop very very fast if any bad thing happen again.
Hulumas ( Date: 03-Mar-2011 19:32) Posted:
| Okay, I start selling CHINA TAISAN by next week! |
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Okay, I start selling CHINA TAISAN by next week!
Pls dont invest too much on S-chick and is better not to vest at all in them. Due to lost of trust and most important, lost of value in S-chip. For those poor/unlucky investor that kanna burn in those suspended S-shit counter, i feel heart pain for them and i can feel how pain it is to lost so much or even all in S-shit. As to show my support for those who kanna burn and to avoid another S-shit scandal again. I hereby annouce that i wont invest or promote any S-shit again, i wish those who kanna burn clear your tears/heartpain and stand up again. So many local good counter to invest, we can all skip S-Shit and condemn them for doing rubbish. It better to invest in local stock as we can see our investment here in singapore and anything happen we also had first hand information. If u want to invest china stock, i think u better camp beside that company and follow the CEO everday in order to be safe. I wish all good luck and take care, i going heaven to find my love now. cya...
Below is on Sunvic.
DelphinusSnow ( Date: 03-Mar-2011 14:40) Posted:
Brief analysis:
1) Sales => doubled from last year TR => less than doubled...so low chance of faked invoices.
2) Cash => around CNY 800mil int income ard 10mil => ard 1+% int rate....looks reasonable furthermore their payables ard 500m so 800m on hand is reasonable.
3) FA = > more than doubled. Bank debt doubled too. But they mentioned before building new plant.
4) Intangible assets => low so they can't be hiding anything there.
I shld think those of us vested are safe for now. |
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Brief analysis:
1) Sales => doubled from last year TR => less than doubled...so low chance of faked invoices.
2) Cash => around CNY 800mil int income ard 10mil => ard 1+% int rate....looks reasonable furthermore their payables ard 500m so 800m on hand is reasonable.
3) FA = > more than doubled. Bank debt doubled too. But they mentioned before building new plant.
4) Intangible assets => low so they can't be hiding anything there.
I shld think those of us vested are safe for now.
ruanlai ( Date: 03-Mar-2011 08:19) Posted:
Believed you ! I sold mine......
If nothing happen and the price shoot up sky high, you responsible for what you say.......
Sue you in court......
tchoonw ( Date: 02-Mar-2011 08:21) Posted:
| The next counter to burnt ppl will be sunvic!!! |
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