China Hongxing   

China Hong Xing

go hongxing go!

 

Tomorrow ChinaHongXing go up 0.25

CHINA HONGXING SPORTS LIMITED

(Incorporated in Bermuda)

__________________________________________________________________________

CONVERSION OF 9,608,000 REDEEMABLE NON-CUMULATIVE CONVERTIBLE

PREFERENCE SHARES (‘RCPS’) AT A CONVERSION PRICE OF S$0.25 PER ORDINARY

SHARE

The Board of Directors of CHINA HONGXING SPORTS LIMITED (the ‘Company’) wishes to

announce on the mandatory conversion of an aggregate 9,608,000 RCPS of HK$0.01 each in the

capital of the Company to 48,040,000 ordinary shares of HK$0.02 each in the capital of the

Company at a conversion price of S$0.25 per share, held by the following RCPS holders:-

OCH-ZIFF Capital Management US Sports, Ltd. (‘OZ US’);

OCH-ZIFF Capital Management Asia Sports, Ltd. (‘OZ Asia’); and

OCH-ZIFF Capital Management Specials Sports, Ltd. (‘OZ Specials’).

Pursuant to the Subscription Agreement dated 13 April 2006 between the Company and (1) OZ

US; (2) OZ Asia; (3) OZ Specials; and (4) CIM VII Limited, the Company has allotted 48,040,000

new ordinary shares of HK$0.02 each in the capital of the Company (‘New Shares’) to the Central

Depository (Pte) Limited (for credit into the securities account of each of OZ US, OZ Asia and OZ

Specials) and such New Shares shall rank

ordinary shares of the Company.

The Company has applied to the Singapore Exchange Securities Trading Limited for listing and

quotation of the New Shares on 21 April 2009.

Following the issue of the New Shares, the number of issued and paid-up ordinary shares of the

Company has increased to 2,800,000,000 ordinary shares of HK$0.02 each.

Submitted by Denis Wu Rongzhao, Chief Executive Officer and Executive Director to the

SGX-ST on 20 April 2009.pari passu in all respects with the existing issued

 

bec board dun wan to pay.. u wan sport play tat pay, u can go for china sports

alanghc2020      ( Date: 18-Apr-2009 01:05) Posted: why this counter dont hv cd ? discrete0      ( Date: 18-Apr-2009 00:48) Posted: hope so,, since i am holding big volumn

 

why this counter dont hv cd ?

discrete0      ( Date: 18-Apr-2009 00:48) Posted: hope so,, since i am holding big volumn richtan      ( Date: 17-Apr-2009 14:53) Posted: So assuming the price now is 15 ct, company buyback will be 16 ct, so it will push up the price.Many pple will then start rushing in & further push up the price. Yippeee!!!!!

 

hope so,, since i am holding big volumn

richtan      ( Date: 17-Apr-2009 14:53) Posted: So assuming the price now is 15 ct, company buyback will be 16 ct, so it will push up the price.Many pple will then start rushing in & further push up the price. Yippeee!!!!!! discrete0      ( Date: 17-Apr-2009 00:34) Posted: company said buy back at 105% of market price, and also,, if many ppl buy a stock, price will go up.

 

So assuming the price now is 15 ct, company buyback will be 16 ct, so it will push up the price.Many pple will then start rushing in & further push up the price. Yippeee!!!!!!

discrete0      ( Date: 17-Apr-2009 00:34) Posted: company said buy back at 105% of market price, and also,, if many ppl buy a stock, price will go up.  anfield_76      ( Date: 16-Apr-2009 13:54) Posted: normally if company plan to have share buy back, the price of shares will go up? because there are less number of shares floating in the market

 

company said buy back at 105% of market price, and also,, if many ppl buy a stock, price will go up. 

anfield_76      ( Date: 16-Apr-2009 13:54) Posted: normally if company plan to have share buy back, the price of shares will go up? because there are less number of shares floating in the market? discrete0      ( Date: 15-Apr-2009 12:28) Posted: AGM and plan to share buyback

 

samson      ( Date: 16-Apr-2009 21:47) Posted: Today CIMB-GK post Mr Maket 80% up side , then 20 % is sell down. to sti 1400.   CIMB-GK: "80% chance of upside this year"   CIMB-GK put out a 48-page bullish report, upgrading Singapore market from ‘neutral’ to ‘overweight’. Here are excerpts: We believe the current rally still has legs. We believe that further gains until May/June are not impossible. Markets have been so pessimistic that they have thrown P/E valuations out of the window, and then cast doubt on P/BV valuations as default risks arose. Finally, corporate fraud and dilution risks from potential capital raisings elevated riskaversion to an extreme level. Right now, the first leg of the rally is attributed to abating risk aversion. This rally should easily carry us to 2,000 or the equivalent of 12x forward P/E. At any other time, 12x P/E would mark the lower end of the P/E band for FSSTI. This rally could potentially see the FSSTI sailing past 2,000 but to do so, corporates would have to deliver on earnings and guidance would have to come in ahead of expectations in the 1Q09 results season.   Such an event is not yet certain, which is why we speculate that reality may sink in again, in May/June. However, if one is willing to bear the pain of another sell-down, market timing looks increasingly favourable. . Kenneth Ng, head of research, CIMB-GK From the bottom, share prices are driven by a mean reversion of valuations from very depressed levels. This comes as risk aversion subsides. We believe this is already in motion. Beyond that, equity prices are driven by earnings. We believe it would be timely to zoom in on the major sectors on the FSSTI, to assess the prospects of a sustained earnings recovery. We are mindful that for some sectors, overbuilding had occurred in the recent past and we would be wary of sectors with excess capacity. Sectors that come to mind are shipping, ship-building, commercial and residential property. Top-down, we believe sectors that will benefit from a recovery are Financials, Offshore & Marine and Plantations. Singapore Financials stand to gain from a less competitive lending environment, as foreign banks pull back. Offshore & Marine stands to benefit from an easing of credit. For this sector, we expect the negative news flow of further order cancellations to give way to the positive news flow of major contracts announcements as banks start to lend. Lastly, we are optimistic on Plantations as we see the demand for basic commodities doing well when we transition to a back-to-basics world. Is this upgrade too late? Is it too late to chase the market after nearly a whole month of rallying? To this, the adage “better late than never” comes to mind. Investors who have been seasoned by bear markets typically won’t come back until an economic recovery is evident. By then, a good chunk of performance would have been over. On all counts, the FSSTI is not expensive even after a good rally. We currently forecast 24% EPS growth for 2010, powered by the banks as loan loss provisions recede. Based on our market earnings, the FSSTI trades at 11.6x CY10 P/E or 13.3x 12-month rolling forward P/E, even after March’s rally. Regressing to historical P/E bands, such valuations reflect a trough over a 12-year time span. By all counts, such valuations are not lofty.  We believe that valuations had swung to extremes on concerns over corporate defaults and book-value risks. As fear abates,markets would gravitate back to P/E valuation pillars and will realise that markets are not expensive. The catalyst for this is when companies start to meet expectations again. We believe this will happen in the next two results seasons

 

Today Phillip security research

Technical Analysis –

STI Displaying Strong Momentum

Thursday, 16 April 2009

The equity market is rallying strongly on its own steam. When the US Dollar weakens,

causing commodities to strengthen, the strong commodity market should push

equities even higher. STI is displaying strong momentum but will soon approach the

intermediate term high on the weekly charts at 1950 to 1960. The STI will almost

certainly see a reaction at this region and we caution investors regarding this.

 

http://www.remisiers.org/research//tech041609.pdf

 

 

we - 11% for 1Q2009 , 2Q 2009 MAY BE -8% . 3Q - 5 % 4Q2009 + 1%

CIMB-GK: "80% chance of upside this year

THERE IS an 80% probability that Asean stocks would move up this year, according to CIMB-GK report released yesterday (Jan 5).

Even if the markets have been buoyant from year-end till now, an entry now may be rather early given the severity of the financial and economic crisis.

That’s why CIMB-GK said 2Q09 “could look a more conservative bet.”

”After a 52% hammering the MSCI Far East ex-Japan index received in 2008, things should start to look up. The year of the castrated bull seems appropriate given our expectations for 2009,” wrote Toh Hoon Chew, the CIMB-GK analyst who authored the report.

Compelling valuations

Even if we assume that the bear market phase has yet to reach its conclusion, the risk-reward ratio looks enticing, wrote Hoon Chew, who is based in Kuala Lumpur.

”Valuations look compelling and will be the main driver. Just as valuation compression had the far bigger impact on equity prices than earnings per share revisions in 2008, valuation expansion should work to investors’ favour in 2009, as the true extent of the downturn is gradually and fully priced in sometime in the next few months.”

With a current 80:20 probability of upside to downside in P/BV valuations for the MSCI Far East ex-Japan

index, the risk-reward ratio is indeed enticing, wrote Hoon Chew.

Put another way, the MSCI Far East ex-Japan Price/Book Value valuations have an 80% probability to move up and a 20% probability to move down from current levels, based on the normally distributed P/BV data since 1996.

”At 80:20, the risk-reward ratio does indeed look attractive.”

Entry point

“We believe that 1H09 will still be a time to digest the ongoing weak economic data points that have yet to let up.

”We fancy the chances of significant 6 to 12-month returns for those with holding power,

with an entry sometime in 2Q09.”

This is based on the assumption that the previous bear markets in 1997 and 2000 provide a good guide to the timing of entry into equity markets. Both the previous bear markets have lasted 19-20 months, while the current bear market has just passed the 14th month mark.

”If one believes that the current bear may take a little longer to be put to sleep, then a 2Q09 entry could look a more conservative bet.”

 

Today CIMB-GK post Mr Maket 80% up side , then 20 % is sell down. to sti 1400.

 

CIMB-GK: "80% chance of upside this year"

 

CIMB-GK put out a 48-page bullish report, upgrading Singapore market from ‘neutral’ to ‘overweight’. Here are excerpts:


We believe the current rally still has legs. We believe that further gains until May/June are not impossible. Markets have been so pessimistic that they have thrown P/E valuations out of the window, and then cast doubt on P/BV valuations as default risks arose.

Finally, corporate fraud and dilution risks from potential capital raisings elevated riskaversion to an extreme level. Right now, the first leg of the rally is attributed to abating risk aversion.

This rally should easily carry us to 2,000 or the equivalent of 12x forward P/E. At any other time, 12x P/E would mark the lower end of the P/E band for FSSTI. This rally could potentially see the FSSTI sailing past 2,000 but to do so, corporates would have to deliver on earnings and guidance would have to come in ahead of expectations in the 1Q09 results season.


 

Such an event is not yet certain, which is why we speculate that reality may sink in again, in May/June. However, if one is willing to bear the pain of another sell-down, market timing looks increasingly favourable.
.

From the bottom, share prices are driven by a mean reversion of valuations from very depressed levels. This comes as risk aversion subsides. We believe this is already in motion.

Beyond that, equity prices are driven by earnings. We believe it would be timely to zoom in on the major sectors on the FSSTI, to assess the prospects of a sustained earnings recovery. We are mindful that for some sectors, overbuilding had occurred in the recent past and we would be wary of sectors with excess capacity.

Sectors that come to mind are shipping, ship-building, commercial and residential property. Top-down, we believe sectors that will benefit from a recovery are Financials, Offshore & Marine and Plantations.

Singapore Financials stand to gain from a less competitive lending environment, as foreign banks pull back. Offshore & Marine stands to benefit from an easing of credit. For this sector, we expect the negative news flow of further order cancellations to give way to the positive news flow of major contracts announcements as banks start to lend.

Lastly, we are optimistic on Plantations as we see the demand for basic commodities doing well when we transition to a back-to-basics world.

Is this upgrade too late?

Is it too late to chase the market after nearly a whole month of rallying? To this, the adage “better late than never” comes to mind. Investors who have been seasoned by bear markets typically won’t come back until an economic recovery is evident. By then, a good chunk of performance would have been over.

On all counts, the FSSTI is not expensive even after a good rally. We currently forecast 24% EPS growth for 2010, powered by the banks as loan loss provisions recede. Based on our market earnings, the FSSTI trades at 11.6x CY10 P/E or 13.3x 12-month rolling forward P/E, even after March’s rally.

Regressing to historical P/E bands, such valuations reflect a trough over a 12-year time span. By all counts, such valuations are not lofty. 

We believe that valuations had swung to extremes on concerns over corporate defaults and book-value risks. As fear abates,markets would gravitate back to P/E valuation pillars and will realise that markets are not expensive.

The catalyst for this is when companies start to meet expectations again. We believe this will happen in the next two results seasons

 

normally if company plan to have share buy back, the price of shares will go up? because there are less number of shares floating in the market?

discrete0      ( Date: 15-Apr-2009 12:28) Posted: AGM and plan to share buyback

 

Depends on who u ask.

Ask tat MFT who initially set tgt at 20+, then later drastically downgrade to below 8, wat next... I really dun know wat will be the next revision, care for a guess, probably she will next adjust higher then 20 leow.

Reminds me of 7 blind man describing an elephant, depends on who u ask, different description...

jonahach      ( Date: 15-Apr-2009 20:39) Posted: China Hongxing...up everyday...High volume some more...What is the target price? 0.20 cents

 

China Hongxing   everyday top20  Volume. up just like GoldenAgr start run from 0.13 also everyday Top 20 ,after 6 months now 0.385.

China HongXing drop from 1.42 at 29-Oct-07

http://sg.finance.yahoo.com/q/hp?s=BR9.SI&a=4&b=3&c=2007&d=3&e=15&f=2009&g=d&z=66&y=330

http://sg.finance.yahoo.com/q/ta?s=BR9.SI&t=2y&l=on&z=m&q=l&p=&a=&c=

Tomorrow will up up 0.17...0.19 ..0.25

 

China Hongxing...up everyday...High volume some more...What is the target price? 0.20 cents

 

I think 2nd half China to do well...data out so far favourable..due to stimulus kicking in...

Can speculate China stock..now..my suggestion...DYODD

 

very soon will reach .20....

 

AGM and plan to share buyback

 

Any good news? Keep creeping up up