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Time: 3:54PM
Exchange: SGX
Stock: HanKore(B22)
Signal: Bullish MACD Crossover
Last Done: $0.054
Vested in this turnaround company formerly known as Bio-treat.. gd luck dyodd
Hankore Environment Tech Group (BIOT SP)
NOT RATED
Share Price
S$0.052
Target Price
n.a.
Upside
n.a.
Company Description
Hankore Environment Tech?s core business is in
the treatment of wastewater and sludge. As at
31 Mar 13, the group had a total contracted
capacity of 1.57m tons/day for 11 water
treatment projects with an average concession
period of 25-30 years.
GICS sector Utilities
Bloomberg ticker: BIOT SP
Shares issued (m): 4,821.7
Market cap (S$m): 250.7
Market cap (US$m): 196.1
3-mth avg t'over (US$m): 2.8
A New Era
Investment Highlights
management team in May 11, Hankore underwent a major
restructuring and rebounded from a loss of Rmb407m in FY11 to a
profit of Rmb103m in FY12. The group was also awarded one of
China?s top ten new pioneer enterprises in the water industry for 2011
and one of the top ten fastest growing water companies in 2012.
Hankore?s executive chairman, Mr Chen Dawei, is the largest
shareholder with a 16.5% stake at a cost of S$0.04/share.
New management, new beginning. With the appointment of a new
principal business is in the operation of waste water treatment plants in
China. In FY12, Hankore derived 70% of its revenue and 94% of its
profit through water tariffs from waste water treatment plants. With a
minimum water tariff guarantee and supply undertake by the local
governments, Hankore enjoys a stable recurring income from its water
treatment plants.
Simple business model with a recurring income base. Hankore?s
in 11 water treatment plants with a total capacity of up to 1.57m
tons/day when fully completed. With the S$14.7m proceeds from the
share placement to Mr Wang and S$50m from the recent issuance of
fixed-rate notes, we believe Hankore is looking to acquire more water
plants to grow its bottom line. It reported a 70% jump in net profit for
9MFY13.
Growing recurring income. As at 31 Mar 13, Hankore had invested
Our View
and was identified as one of China?s fastest growing water companies.
However, marred by its controversial past, valuation has remained
depressed at 13.1x PE vs its peers? average of 24.5x. We believe the
management?s major stake in the company is a show of confidence in
Hankore. Mr Chen?s cost of investment at S$0.04/share will likely
serve as a price support for the stock.
With the new management, Hankore enjoyed an earnings turnaround
Price Chart
Source: Bloomberg
Analyst
Loke Chunying
+65 6590 6637
cyloke@uobkayhian.com
Key Financials
Year to 30 Jun (Rmbm) FY10 FY11 FY12 3Q12 3Q13
Net Turnover 359.7 196.1 245.4 65.6 80.4
EBITDA (60.8) (59.3) 82.6 21.0 46.9
EBIT (110.6) (83.0) 68.6 17.4 42.9
Net Profit 222.1 (407.2) 102.6 8.0 31.8
EPS (cent) 18.86 (22.00) 2.00 0.20 0.80
P/E (x) 1.3 - 13.1 - -
P/B (x) 0.2 0.7 0.7 0.7 0.7
Dividend Yield (%) 0.0 0.0 0.0 - -
Net Margin (%) 61.7 (207.6) 41.8 12.2 39.6
Net Gearing (%) 78.1 31.9 31.8 33.0 31.5
Interest cover (x) (1.6) (2.4) 1.8 - -
ROE (%) 21.7 (30.9) 6.9 - -
Source: Bloomberg, UOB Kay Hian
teeth53 wish -- Wish all the water snake players help, help, all players tua tua tan tan....arhh.
louis001 ( Date: 20-May-2011 22:37) Posted:
HanKore EnvironmentTech Group ( 汉 科 环 境 科 技 集 团 )
now they not only want to treat water, they also want to go big into environmental tech...ie, they want Feng (Wind ) and also Shui ( Water ).... maybe handle rubbish also ? open a new chapter into the future....make money from rubbish ?
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Two years ago and now
awaiting ML report. Hulumas must had bot @4c-5c -vv.big stake- wish to push it to 15c ++
1. I am certain, i wanted to use public money to turn around.
2. I took this opportunities to announced this S$95mil project and more..?.
3. I has gone from 4c, 4.8c & await 8ct...as i wanted to push and dump, so i can make 100% profit 1st.
4. I will watch my growth coming years.........?Pls do ur home, so is me - Bio-treat with careJ
ust sharing n promoting stk/shr trading interest. Wish all palyers a properous lunar CNY - water snake years. 
I believe the move up is coming soon....
if after CNY and after result and BOA ML and this fellow not moving , I will throw away my 1xxxx lots ..enough is enough.. use the money for other stock that can move.
Ha ha still sleeping. Go give this stock a slap to wake up,,,,,,,
haha- got to scold then can cheong...
5cts tomorrow..? 7 cts before CNY and 10cts after results? lai lai Huat argh.....leeeta ( Date: 28-Jan-2013 19:59) Posted:
hankore cheong argh....or i will fry your @ss.
Lucky03 ( Date: 28-Jan-2013 15:12) Posted:
| Very healthy sparring of buyers and sellers. Should move again soon |
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hankore cheong argh....or i will fry your @ss.
Lucky03 ( Date: 28-Jan-2013 15:12) Posted:
Very healthy sparring of buyers and sellers. Should move again soon.
leeeta ( Date: 28-Jan-2013 12:50) Posted:
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Can see that this CK is very very the patient..slowly collecting at 4.6cts. The thrown down at 4.6cst is well absorbed. Not long after a throwdown...the buy Q is again stuffed with at least 1000lots. Enticing weak holders to throw down again. Dunno what gameplan tis CK has as long as can take this boat past 20cts by year end and to no mans land in 2014/2015.. I happy liao.
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Very healthy sparring of buyers and sellers. Should move again soon.
leeeta ( Date: 28-Jan-2013 12:50) Posted:
Can see that this CK is very very the patient..slowly collecting at 4.6cts. The thrown down at 4.6cst is well absorbed. Not long after a throwdown...the buy Q is again stuffed with at least 1000lots. Enticing weak holders to throw down again. Dunno what gameplan tis CK has as long as can take this boat past 20cts by year end and to no mans land in 2014/2015.. I happy liao.
pabuaytoh ( Date: 28-Jan-2013 12:38) Posted:
| selling is fierce. huat ah |
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Can see that this CK is very very the patient..slowly collecting at 4.6cts. The thrown down at 4.6cst is well absorbed. Not long after a throwdown...the buy Q is again stuffed with at least 1000lots. Enticing weak holders to throw down again. Dunno what gameplan tis CK has as long as can take this boat past 20cts by year end and to no mans land in 2014/2015.. I happy liao.
pabuaytoh ( Date: 28-Jan-2013 12:38) Posted:
selling is fierce. huat ah!
Bopanha ( Date: 28-Jan-2013 10:24) Posted:
I am re-assessing this counter, and believe that its resistance will be its NAV of about 7.5 cents, barring exceptionally good reports on profits for it to go higher. Support should be around 4.5 cents with intermediate resistance at 5.2cents.
Anyway the counter could exceed my expectations because I discovered at the AGM recently that it is doing reasonably well (not to overstate it as exceptionally well). Huat ah!! Weheehehehe!!! |
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selling is fierce. huat ah!
Bopanha ( Date: 28-Jan-2013 10:24) Posted:
I am re-assessing this counter, and believe that its resistance will be its NAV of about 7.5 cents, barring exceptionally good reports on profits for it to go higher. Support should be around 4.5 cents with intermediate resistance at 5.2cents.
Anyway the counter could exceed my expectations because I discovered at the AGM recently that it is doing reasonably well (not to overstate it as exceptionally well). Huat ah!! Weheehehehe!!! |
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I am re-assessing this counter, and believe that its resistance will be its NAV of about 7.5 cents, barring exceptionally good reports on profits for it to go higher. Support should be around 4.5 cents with intermediate resistance at 5.2cents.
Anyway the counter could exceed my expectations because I discovered at the AGM recently that it is doing reasonably well (not to overstate it as exceptionally well). Huat ah!! Weheehehehe!!!
Can also be seen as well supported at 0.046.
pabuaytoh ( Date: 28-Jan-2013 10:12) Posted:
Seems like lot's of selling at 0.046.
Lucky03 ( Date: 27-Jan-2013 18:56) Posted:
| Just trying to avoid setting expectation too high :) Certainly hope the Water Snake 入 春 4 Feb will herald in a new era for Hankore |
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Seems like lot's of selling at 0.046.
Lucky03 ( Date: 27-Jan-2013 18:56) Posted:
Just trying to avoid setting expectation too high :) Certainly hope the Water Snake 入 春 4 Feb will herald in a new era for Hankore !
leeeta ( Date: 27-Jan-2013 18:42) Posted:
| My expectation is that it will hit past its NTA very soon. BY CNY it will trade between 5 to 7cts |
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Just trying to avoid setting expectation too high :) Certainly hope the Water Snake 入 春 4 Feb will herald in a new era for Hankore !
leeeta ( Date: 27-Jan-2013 18:42) Posted:
My expectation is that it will hit past its NTA very soon. BY CNY it will trade between 5 to 7cts.
Lucky03 ( Date: 27-Jan-2013 16:36) Posted:
| I'm looking at it hitting its NTA of around 8cts by the time it announces its full year result in Aug 2013. There is a hint of possible dividend this year when it revised its takeover offer for its subcontractor. If it turns out true, it may surpassed its NTA. Any positive update on the expression of interest from 3rd parties for its portfolio may be a bonus |
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My expectation is that it will hit past its NTA very soon. BY CNY it will trade between 5 to 7cts.
Lucky03 ( Date: 27-Jan-2013 16:36) Posted:
I'm looking at it hitting its NTA of around 8cts by the time it announces its full year result in Aug 2013. There is a hint of possible dividend this year when it revised its takeover offer for its subcontractor. If it turns out true, it may surpassed its NTA. Any positive update on the expression of interest from 3rd parties for its portfolio may be a bonus.
pabuaytoh ( Date: 27-Jan-2013 13:45) Posted:
| I fully agree that slow and steady is better. Can I ask what is your price target and the duration? 1 year or...? tk |
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I'm looking at it hitting its NTA of around 8cts by the time it announces its full year result in Aug 2013. There is a hint of possible dividend this year when it revised its takeover offer for its subcontractor. If it turns out true, it may surpassed its NTA. Any positive update on the expression of interest from 3rd parties for its portfolio may be a bonus.
pabuaytoh ( Date: 27-Jan-2013 13:45) Posted:
I fully agree that slow and steady is better. Can I ask what is your price target and the duration? 1 year or...? tks
Lucky03 ( Date: 26-Jan-2013 16:51) Posted:
| I thought when BB pushed a stock, it wouldn't just stop at 0.3cts a day and then paused for a week or more. In the meantime, sustained the price range bound and then pushed again only to repeat over 3 mths ? Anyway, I don't really care about BB so long as I remained comfortable with its momentum and growth potential for mid-long term holding. It is true that given today's trading mentality, the invest and hold mentality is often not the best strategy for maximizing profit. I'm comfortable with the above 15% return so far over the last 3 mths of accumulation. It is not a fast house. Perhaps not too wrong to describe it as dog as I find its faithfully stable up trend attractive and predictable and reassuring as it stopped to consolidate at each jump before moving up again. |
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I fully agree that slow and steady is better. Can I ask what is your price target and the duration? 1 year or...? tks
Lucky03 ( Date: 26-Jan-2013 16:51) Posted:
I thought when BB pushed a stock, it wouldn't just stop at 0.3cts a day and then paused for a week or more. In the meantime, sustained the price range bound and then pushed again only to repeat over 3 mths ? Anyway, I don't really care about BB so long as I remained comfortable with its momentum and growth potential for mid-long term holding. It is true that given today's trading mentality, the invest and hold mentality is often not the best strategy for maximizing profit. I'm comfortable with the above 15% return so far over the last 3 mths of accumulation. It is not a fast house. Perhaps not too wrong to describe it as dog as I find its faithfully stable up trend attractive and predictable and reassuring as it stopped to consolidate at each jump before moving up again.
clickshop1628 ( Date: 26-Jan-2013 16:13) Posted:
This stock is really a dog. I think there are other stocks out there that can give much better potential returns and faster. Looks like BBs trapped a lot of innocent retailers in the last run up. Too many outstanding shares in the market. Prefer other faster horses...
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yup. last elections also. wonder why other like HWZ not cooling off.
Lucky03 ( Date: 26-Jan-2013 13:25) Posted:
Didn't occur to me. Did they do the same for GE ?
lictenau ( Date: 26-Jan-2013 12:59) Posted:
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election shutdown 2 days. coolin |
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