China Auto Elec   

China Auto Electronics Group Ltd

China auto sales increase in first five months in 2009

Sales of China's domestically made automobiles topped 4.96 million units in the Jan-May period, up 14.29% from  a year earlier, said the China association of automobile manufacturers (CAAM) on 9th Jun 2009.

Both output and sales of domestically made automobiles in May 09 exceeded 1.10 million units. It was the third month in a row that topped the million unit mark, said the CAAM.

The association attributed the increases to a series of government stimulus measures.

China is expected to sell 10.2 million vehicles in 2009, up 8.7% year on year, the CAAM said in april 09.

 

chinastar      ( Date: 29-May-2009 02:06) Posted: China Auto Electronic (group) cash and cash equivalents at end of 31/3/2009 : 32,537,000 RMB chinastar      ( Date: 22-Oct-2008 16:43) Posted: executive chairman bought some more shares. by now, he is holding 9 millions cae shares. Hopefully, china auto electronics is turning around for good.

 

China Auto Electronic (group)

cash and cash equivalents at end of 31/3/2009 : 32,537,000 RMB

chinastar      ( Date: 22-Oct-2008 16:43) Posted: executive chairman bought some more shares. by now, he is holding 9 millions cae shares. Hopefully, china auto electronics is turning around for good. chinastar      ( Date: 17-Oct-2008 09:25) Posted: consider buyin

 

NTA till End Sep is 112.39  cts RMB.

787180      ( Date: 22-Oct-2008 17:17) Posted: wow last year reached a high of 83cts....>100% drop

 

wow last year reached a high of 83cts....>100% drop

 

executive chairman bought some more shares. by now, he is holding 9 millions cae shares.

Hopefully, china auto electronics is turning around for good.

chinastar      ( Date: 17-Oct-2008 09:25) Posted: consider buying chinastar      ( Date: 15-Oct-2008 16:50) Posted: executive chairman rudolph schlais bought another 1255000 shares @ 0.04969 on 13th oct 2008 and is holding 7255000 shares now. Hopefully, there will be good news for china auto electronics. I believe the mgt have been working very hard for the third quarter 2008.

 

consider buying

chinastar      ( Date: 15-Oct-2008 16:50) Posted: executive chairman rudolph schlais bought another 1255000 shares @ 0.04969 on 13th oct 2008 and is holding 7255000 shares now. Hopefully, there will be good news for china auto electronics. I believe the mgt have been working very hard for the third quarter 2008. chinastar      ( Date: 14-Oct-2008 17:48) Posted: Dr Liu had bought another 2 over millions cae shares on 101008. May be the 3rd qtr results are better than the 2nd qtr.

 

executive chairman rudolph schlais bought another 1255000 shares @ 0.04969 on 13th oct 2008 and is holding 7255000 shares now.

Hopefully, there will be good news for china auto electronics. I believe the mgt have been working very hard for the third quarter 2008.

chinastar      ( Date: 14-Oct-2008 17:48) Posted: Dr Liu had bought another 2 over millions cae shares on 101008. May be the 3rd qtr results are better than the 2nd qtr. chinastar      ( Date: 15-Aug-2008 17:03) Posted: Dr Liu Xiaozhi is the non-executive director of the company. She is currently also the president and ceo of the prc operatuions of neo-tek international, a supplier of technology solutions. She bought one million shares of china auto electronic @ 0.6976 on 12th nov 2007 from the open market. Ms Liu has to work harder.

 

Dr Liu had bought another 2 over millions cae shares on 101008.

May be the 3rd qtr results are better than the 2nd qtr.

chinastar      ( Date: 15-Aug-2008 17:03) Posted: Dr Liu Xiaozhi is the non-executive director of the company. She is currently also the president and ceo of the prc operatuions of neo-tek international, a supplier of technology solutions. She bought one million shares of china auto electronic @ 0.6976 on 12th nov 2007 from the open market. Ms Liu has to work harder. bullrun4ever      ( Date: 08-Aug-2008 00:54) Posted: The Board of Directors of China Auto Electronics Group Ltd (the “Company”) wishes to announce that the Company expects the results for the second quarter ending 30 June 2008 to be substantially lower than that for the corresponding period in the last financial year. The decrease is mainly due to the following: 1. Our newly acquired US subsidiaries continued to make losses in the second quarter as the working capital issue was not resolved until the third quarter. 2. Lower revenue from our existing operations due to the slow down of growth in the auto industry in China which affected some of our customers. In view of the above, the Company may not be profitable for the second quarter ending 30 June 2008. Stirling Coleman Capital Limited is the financial adviser (“Financial Adviser”) to the Company in relation to the acquisition of Tianhai Electric (Group) Corporation completed on 21 September 2007. The Financial Adviser assumes no responsibility on the contents of this announcement.

 

CAE has to constantly upgrade its design and provides joint R & D of products with Chery, BYD and Changan.

A subsidiary of Warren Buffett's Berkshire Hathaway is making a $230 million investment in BYD, which trades on HK stock exchange.

Hopefully, CAE 3rd qtr result would be better than the 2nd qtr one.

chinastar      ( Date: 27-Aug-2008 16:38) Posted: Cheap Sale. May be CEO Wang can talk during the next AGM. Does he need to brush up his English? chinastar      ( Date: 18-Aug-2008 12:06) Posted: China's finance ministry announced plans to cut the consumption tax on small automobiles with engines of 1 liter or less to 1% from 3 %. Chery Automobile Co., China's largest maker of cars with engines of 1 liter or less, is closely held. Chery Automobile is one of China auto electronic's customer.

 

Cheap Sale.

May be CEO Wang can talk during the next AGM. Does he need to brush up his English?

chinastar      ( Date: 18-Aug-2008 12:06) Posted: China's finance ministry announced plans to cut the consumption tax on small automobiles with engines of 1 liter or less to 1% from 3 %. Chery Automobile Co., China's largest maker of cars with engines of 1 liter or less, is closely held. Chery Automobile is one of China auto electronic's customer. chinastar      ( Date: 19-Jul-2008 05:16) Posted: 10th July 2008 Executive Chairman Mr Rudolph Schlais bought another 2 million shares @ $ 0.11836 fr the open mkt. He is holding 6 million shares now. Time to buy china auto electronic shares. Don't miss the F1 race.

 

China's finance ministry announced plans to cut the consumption tax on small automobiles with engines of 1 liter or less to 1% from 3 %.

Chery Automobile Co., China's largest maker of cars with engines of 1 liter or less, is closely held.

Chery Automobile is one of China auto electronic's customer.

chinastar      ( Date: 19-Jul-2008 05:16) Posted: 10th July 2008 Executive Chairman Mr Rudolph Schlais bought another 2 million shares @ $ 0.11836 fr the open mkt. He is holding 6 million shares now. Time to buy china auto electronic shares. Don't miss the F1 race. chinastar      ( Date: 10-Jul-2008 13:06) Posted: wait for the 2nd qtr result. Hopefully, CEO Mr Wang will proceed with the share buyback sooner

 

other than collecting director fee, Dr Liu  has to perform her task as a non-executive director.

Board of directors have to meet often to come out better plans for the company. 

chinastar      ( Date: 15-Aug-2008 17:03) Posted: Dr Liu Xiaozhi is the non-executive director of the company. She is currently also the president and ceo of the prc operatuions of neo-tek international, a supplier of technology solutions. She bought one million shares of china auto electronic @ 0.6976 on 12th nov 2007 from the open market. Ms Liu has to work harder. bullrun4ever      ( Date: 08-Aug-2008 00:54) Posted: The Board of Directors of China Auto Electronics Group Ltd (the “Company”) wishes to announce that the Company expects the results for the second quarter ending 30 June 2008 to be substantially lower than that for the corresponding period in the last financial year. The decrease is mainly due to the following: 1. Our newly acquired US subsidiaries continued to make losses in the second quarter as the working capital issue was not resolved until the third quarter. 2. Lower revenue from our existing operations due to the slow down of growth in the auto industry in China which affected some of our customers. In view of the above, the Company may not be profitable for the second quarter ending 30 June 2008. Stirling Coleman Capital Limited is the financial adviser (“Financial Adviser”) to the Company in relation to the acquisition of Tianhai Electric (Group) Corporation completed on 21 September 2007. The Financial Adviser assumes no responsibility on the contents of this announcement.

 

Dr Liu Xiaozhi is the non-executive director of the company.

She is currently also the president and ceo of the prc operatuions of neo-tek international, a supplier of technology solutions.

She bought one million shares of china auto electronic @ 0.6976 on 12th nov 2007 from the open market.

Ms Liu has to work harder.

bullrun4ever      ( Date: 08-Aug-2008 00:54) Posted: The Board of Directors of China Auto Electronics Group Ltd (the “Company”) wishes to announce that the Company expects the results for the second quarter ending 30 June 2008 to be substantially lower than that for the corresponding period in the last financial year. The decrease is mainly due to the following: 1. Our newly acquired US subsidiaries continued to make losses in the second quarter as the working capital issue was not resolved until the third quarter. 2. Lower revenue from our existing operations due to the slow down of growth in the auto industry in China which affected some of our customers. In view of the above, the Company may not be profitable for the second quarter ending 30 June 2008. Stirling Coleman Capital Limited is the financial adviser (“Financial Adviser”) to the Company in relation to the acquisition of Tianhai Electric (Group) Corporation completed on 21 September 2007. The Financial Adviser assumes no responsibility on the contents of this announcement.

 

why 50% not 30% or 20% of the nta

bullrun4ever      ( Date: 09-Aug-2008 23:53) Posted: China Auto Electronics: SELL (Downgrade from BUY); S$0.125; Profit warning Price Target: 12-Month S$0.07 (Prev S$0.28) by: Wee Lee Chong CFA +65 6398 7971 Story: China Auto Electronics (CAE) unexpectedly announced that its 2Q 2008 results would be substantially y-o-y lower, due to: 1) continued losses at its newly acquired US subsidiaries, as the working capital issue was not resolved until 3Q08, and 2) lower revenue from existing operations due to growth slowdown in the auto industry in China which affected some of its customers. CAE also guides that it may not be profitable in 2Q 2008. Point: The reasons for the profit warning are very negative, as not only is the newly acquired US subsidiary still inexplicably suffering from unresolved operational issues, the bigger surprise is the management's guidance that its core auto component operations in the PRC is facing a slowdown. We have concerns on CAE’s ability to remain profitable in FY08 and FY09, given the rapid deterioration in earnings visibility for its China operations. We have cut our fair value to S$0.07; using 50% discount to estimated NTA in FY09, which is expected to be lower on y-o-y basis due to expectation of losses in our forecast periods. Despite its leading position as a wire harness supplier in the PRC, the very weak execution since listing will linger as a big turnoff to investors even if its operations are to recover unexpectedly. As such, we are cutting our rating on CAE to SELL. We will cease coverage on CAE.

 

China Auto Electronics: SELL (Downgrade from BUY); S$0.125;
Profit warning
Price Target: 12-Month S$0.07 (Prev S$0.28)
by: Wee Lee Chong CFA +65 6398 7971

Story: China Auto Electronics (CAE) unexpectedly announced that its 2Q 2008
results would be substantially y-o-y lower, due to: 1) continued losses at
its newly acquired US subsidiaries, as the working capital issue was not
resolved until 3Q08, and 2) lower revenue from existing operations due to
growth slowdown in the auto industry in China which affected some of its
customers. CAE also guides that it may not be profitable in 2Q 2008.

Point: The reasons for the profit warning are very negative, as not only is
the newly acquired US subsidiary still inexplicably suffering from
unresolved operational issues, the bigger surprise is the management's
guidance that its core auto component operations in the PRC is facing a
slowdown. We have concerns on CAE’s ability to remain profitable in FY08
and FY09, given the rapid deterioration in earnings visibility for its
China operations.

We have cut our fair value to S$0.07; using 50% discount to
estimated NTA in FY09, which is expected to be lower on y-o-y basis due to expectation of losses in our forecast periods. Despite its leading position as a wire harness supplier in the PRC, the very weak execution since listing will linger as a big turnoff to investors even if its operations
are to recover unexpectedly. As such, we are cutting our rating on CAE to SELL. We will cease coverage on CAE.

 

The Board of Directors of China Auto Electronics Group Ltd (the “Company”) wishes to announce that the Company expects the results for the second quarter ending 30 June 2008 to be substantially lower than that for the corresponding period in the last financial year. The decrease is mainly due to the following:

1. Our newly acquired US subsidiaries continued to make losses in the second quarter as the working capital issue was not resolved until the third quarter.

2. Lower revenue from our existing operations due to the slow down of growth in the auto industry in China which affected some of our customers. In view of the above, the Company may not be profitable for the second quarter ending 30 June 2008. Stirling Coleman Capital Limited is the financial adviser (“Financial Adviser”) to the Company in relation to the acquisition of Tianhai Electric (Group) Corporation completed on 21 September 2007. The Financial Adviser assumes no responsibility on the contents of this announcement.

 

CAE has completed the sale of the subsidiary company in china. ( more cash flow )

CEO Mr Wang are holding more job scope after one of the director leaving the company. with years of experience in china, he will lead the company to a higher business platform.

 

 

 

 

 

 

 

 

 

 

chinastar      ( Date: 19-Jul-2008 05:16) Posted: 10th July 2008 Executive Chairman Mr Rudolph Schlais bought another 2 million shares @ $ 0.11836 fr the open mkt. He is holding 6 million shares now. Time to buy china auto electronic shares. Don't miss the F1 race. chinastar      ( Date: 10-Jul-2008 13:06) Posted: wait for the 2nd qtr result. Hopefully, CEO Mr Wang will proceed with the share buyback sooner

 

CAE had sought shareholders' approval at the special general meeting on 28th apr 2008 for the share purchase mandale.

Hopefully, CEO Mr Wang Laisheng will do the smart thing for the company.

sthinvest      ( Date: 21-Jul-2008 13:19) Posted:   Saw the post but just the headline does not tell the whole story. Do care to link the bloomberg report. Tks Btw CAE does not manufacture cars but engaged in the design and manufacture of a wide range of telecommunication, data network and transportation communication products in the PRC. The Group also engaged in the business of research and development, manufacture and sale of automobile parts. The main products of the Group are wire harnesses and connectors used in automobiles. They also manufactures and sells other products, being primarily crimping machines and moulds. Beside selling to the local car manufacturers ( the fastest growing market ) , the company also export their products to USA, Germany, Japan and Australia. The profitable company has reinvented itself by focusing on auto electronics products and has started expanding globally through its well connected Ex-GM boss, Mr Rudolph Schlais. His own recent 2m shares purchases in July shown management 's committment and confidence in the company restructuring and expansion plans and good buying value. Currently the stock is trading at approx. half of its NAV and PE 2.5x. hence do believe that downside should be limited. Not an induction to buy or sell but just some nos to chew on..  Caveat emptor.

 

Where can we see the filings for share purchase? How much has the company purchased to date and are they still purhasing?

 

Rationale for the share purchase mandate

1) To enhance shareholders' value and to improve the EPS, NTA per share;

2) To manage surplus capital.

 

sthinvest      ( Date: 21-Jul-2008 13:19) Posted:   Saw the post but just the headline does not tell the whole story. Do care to link the bloomberg report. Tks Btw CAE does not manufacture cars but engaged in the design and manufacture of a wide range of telecommunication, data network and transportation communication products in the PRC. The Group also engaged in the business of research and development, manufacture and sale of automobile parts. The main products of the Group are wire harnesses and connectors used in automobiles. They also manufactures and sells other products, being primarily crimping machines and moulds. Beside selling to the local car manufacturers ( the fastest growing market ) , the company also export their products to USA, Germany, Japan and Australia. The profitable company has reinvented itself by focusing on auto electronics products and has started expanding globally through its well connected Ex-GM boss, Mr Rudolph Schlais. His own recent 2m shares purchases in July shown management 's committment and confidence in the company restructuring and expansion plans and good buying value. Currently the stock is trading at approx. half of its NAV and PE 2.5x. hence do believe that downside should be limited. Not an induction to buy or sell but just some nos to chew on..  Caveat emptor.