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nothing special. just got stuck with this counter.
founder abt 57%, Tat Hong 25% free flow quite
low. Its profitable coy and there is potential to
be delist,
Bro Derek, you are with this thread since 2008. Are you able to share the insight of this counter that keep your interest going for years? Thanks.
looking at the chart, something brewing.
price moving steadily,only waiting for vol. to catch up.
and punters will join in the play.
you only need to hold 600 lots to be in the
top 20 highest shareholders of the coy.
after a long rest,
some trading in the last few days.
good signs.
just wonder why ppl want to sell at $0.145 and made this counter drop 19.44 %.
what happen to this counter.
business doing quite well quarter to quarter
but the px dropping to $0.160 only
sometime no trading for days
maybe privatise idea on the card
cannot man, dual listing px dropping very fast ( chinaXLX )
better stay put.
some trading interest in this counter this week
but px so so. still $0.295 closing.
this counter vol. so low shld go for dual listing like chinaXLX.
very good man !
Tat Hong is buying this counter. Good sign.
Town crane business is doing well next quarter.
9.185 million done at $0.280 (married deal )
volumn getting higher and higher
The tower crane industry should start to revive after the enormous amount of fiscal policies announced by the Chinese Govt. I am not vested in Yongmao but in Tat Hong, and it is also in my interest to see Yongmao's business perform well.
Note that I have no comments on the share price. I simply want to see the business do well so that Tat Hong can recognize higher share of profits from its associated company.
Cheers.
4 million shares done at $0.280 (married deal )
very likely something good is going on.
3 million shares done at $0.280 (married deal).
looks like something positve is going to happen.
almost one year already from last posting, what happen.
no volumn = no interest.
it cannot be a laggard for so long.
tat hong is moving and this counter will follow soon.
Report from CIMB.
Maiden FY08 net profit of Rmb122.5m (+107% yoy) was in line with our forecast of Rmb121.2m, supported by revenue growth of 135% yoy to Rmb653m. The good results could be attributed to strong sales of cranes (388 units) in all markets to meet demand as well as higher ASPs. A first and final dividend of $0.01 was declared.
Gross margins were steady at 37% while operating expenses rose 141% yoy to Rmb525m on higher headcount, bonuses, product development costs and listing expenses. Order book was Rmb525m, equivalent to almost 400 cranes for delivery in FY09. Management said that it could go beyond 100% utilisation by stretching production hours, if needed. Meanwhile, the injection of its subcontractor Beijian into the listed company is undergoing due diligence, with completion expected in the next six months.
Management has been raising ASPs for its cranes and believes that gross margins can be maintained, despite rising steel prices. The proposed injection of Beijian into Yongmao should also lift margins.
Construction of a new plant in Fushun, China is on track for completion by year-end. The plant will boost capacity by 200% for tower cranes. Production of crawler cranes will also start by mid-'09, with a capacity of 200 units.
The global market for lifting equipment remains strong as industry leaders like Terex and Manitowoc also reported strong gains recently, on top of record order books for cranes in billions of US dollars. The outlook for China crane producers is equally positive, with strong demand for Yongmao’s cranes from global infrastructure development projects and reconstruction activities.
We raise our FY09-10 EPS forecasts by 0.6-6% after adjusting for higher costs of steel but higher average selling prices as Yongmao is still able to pass on higher costs on the back of strong demand and a global shortage of cranes. As a result, our target price has been raised to $0.80 (from $0.76), still based on a CY09 P/E of 8x, or a 30% discount to its peers in view of its smaller size.
| Date & Time of Broadcast | 27-May-2008 12:42:11 |
YONGMAO FY08 NET PROFIT DOUBLES TO RMB 122.5 M
Rev +135%
Profit +107%
http://info.sgx.com/webcoranncatth.nsf/VwAttachments/Att_92A66F54C7CDBE6B48257456000B6C2F/$file/Yongmao_FY08_press_release.pdf?openelement
this counter is still going strong.
breakout all time high soon.
CIMB initiated coverage of Yongmao with Outperform and tp of $0.76.
Already a beneficiary of the current boom in construction and infrastructure spending globally, Yongmao is one of a handful of established China-based crane manufacturers with the expertise and know-how to design, develop and manufacture cranes.
Funds raised from its recent IPO on the SGX are timely for capex on its new manufacturing facility. They project a net cash position for the next three years
Their target is based on 8x CY09 PE, at the lower end of global peers' PE range of 8.7-19.8x (excluding crane leasing companies Tat Hong and Tiong Woon). Their target PE is also at a significant 60% discount to valuations for its closest peer, Changsha Zoomlion (19.8x CY09 PE), to factor in Yongmao's shorter operating history, smaller market capitalisation and lower trading liquidity.