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China Minzhong (K2N.SG), the China-based vegetable producer, falls 9.0% to S$1.62, with volume spiking to over 53 million shares vs its 100-day average of 2.7 million, after 40 million shares changed hands this morning in a married deal at S$1.69. An analyst at a local brokerage says the stake was sold by China Minzhong's largest shareholder, Olympus Capital Holdings, who as at March 1 held 97.2 million shares, or 17.8% of the firm, according to Thomson One Analytics. That sale comes after news Wednesday substantial shareholder, High Focus International, sold its stake down to 6.87% from 7.96%, translating to 5.78 million shares. The analyst says " it's quite expected that these funds will sell off once they feel it's the right price, and China Minzhong has outperformed the market," with the shares up 31% year to yesterday. " We don't see it as a concern, the fundamentals have not changed and we think this is a good chance for players who missed the last rally to buy in."
someone said placement share at 1.69.
avoid anything starts with china
alexchia01 ( Date: 12-May-2011 11:20) Posted:
Today queried by SGX on unusual drop in share price.
Plus major shareholders are selling all their shares.
Plus company giving share options to their employees at US$0.358 per share.
All these have negative impact to the share price.
Better to stay away from ChinaMinzhong for now.
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Today queried by SGX on unusual drop in share price.
Plus major shareholders are selling all their shares.
Plus company giving share options to their employees at US$0.358 per share.
All these have negative impact to the share price.
Better to stay away from ChinaMinzhong for now.
ChinaMzhong not only rebounded to $1.65 , but also went up further to around $1.80 with decreasing volume . Because of the shooting star formed yesterday , it gapped down with big volume to $1.56 this morning . It may have to rebound to correct the position to $1.68 , or may to fill the gap before going into downtrend .
Bintang ( Date: 21-Mar-2011 16:23) Posted:
After hitting support at $1.57 , ChinaMzhng may rebound to $1.65 in the short term .
knightrider ( Date: 21-Mar-2011 15:58) Posted:
| " Heng ah, ba bu liam geng" , go back up to S$1.62 liao !! |
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I presumed that the lock-in period is 1 year. Cornerstone investor start selling. So predicatable ..........let hope I am wrong....
stkoh78 ( Date: 12-May-2011 10:17) Posted:
Quote from Morning note : ------- High Focus International
Limited , a substantial investor , reduced their holding of share from 7.96% to 6.87%
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Quote from Morning note : -------
High Focus International
Limited , a substantial investor , reduced their holding of share from 7.96% to 6.87%
heard replacement
Now 1.60, it is worth to buy? Any expect can advise.
Thank you
What happened? Suddenly drop so much.
China Minzhong Food posts 93% rise in 3Q net to $49.6m
China Minzhong Food Corporation saysit posted a 92.9% increase in net profit to RMB261.1 million ($49.6 million) for the 3 months ended 31 March 2011 (3QFY2011) compared to RMB135.3 million in 3QFY2010.
Revenue increased 34.3% to RMB703.9 million, underpinned by growth in both its processed vegetables and fresh vegetables produce segments.
Revenue from the processed vegetables grew 26.1% to RMB501.3 million in 3QFY2011, driven by a continued focus towards a higher-value product portfolio, which lifted average selling prices by 29.5%.
Revenue from fresh vegetables produce increased 60.1% to RMB202.7 million, attributed to a 46.1% growth in cultivation volume and higher average selling prices.
The improved cultivation volume comes on the back of better yield from maturing farmland and newly acquired farmland, of approximately 9,000 mu, making maiden contributions in 3QFY2011.
3QFY2011 gross profit grew 53.3% to RMB330.9 million, in tandem with the increase in revenue. Overall gross profit margin improved by 5.8ppt to 47.0%, on the back of better gross profit margins for both processed vegetables and fresh vegetables produce.
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JPMorgan has raised its target price for Singapore-listed vegetable
producer China Minzhong (CMFC.SI) to $2.00 from $1.70 and kept its
overweight rating.
JPMorgan has raised its net profit estimates by 3.6% for this year, and
by 7.5% for 2012, as it raised its gross profit margin assumptions for
processed and fresh vegetables.
The brokerage noted that China Minzhong's strategies of focusing on
high-margin vegetable products and expanding its processing capacity
rapidly sets it apart from competitors.
At 9:45 a.m., shares of China Minzhong were 0.64% higher at $1.57, and have gained 15% since the start of the year.
This doesn't look like a technical rebound to me.
After hitting the low at $1.57 on 21/03/11 , ChinaMzhng went further down to $1.53 n closed at $1.55 the following day .The short term rebounce would stop at $1.63 .
Bintang ( Date: 21-Mar-2011 16:23) Posted:
After hitting support at $1.57 , ChinaMzhng may rebound to $1.65 in the short term .
knightrider ( Date: 21-Mar-2011 15:58) Posted:
| " Heng ah, ba bu liam geng" , go back up to S$1.62 liao !! |
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Anybody have any idea regarding the sudden surge in this counter?
back at 1.58 thats fast..
After hitting support at $1.57 , ChinaMzhng may rebound to $1.65 in the short term .
knightrider ( Date: 21-Mar-2011 15:58) Posted:
" Heng ah, ba bu liam geng" , go back up to S$1.62 liao !!!
Bintang ( Date: 21-Mar-2011 10:59) Posted:
ChinaMzhng has almost reached the support at $1.57 |
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" Heng ah, ba bu liam geng" , go back up to S$1.62 liao !!!
Bintang ( Date: 21-Mar-2011 10:59) Posted:
ChinaMzhng has almost reached the support at $1.57 .
Bintang ( Date: 15-Mar-2011 13:46) Posted:
| Now it is supported by 30MA at $1.64 , so it would fall further to $1.56 if this support fails |
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ChinaMzhng has almost reached the support at $1.57 .
Bintang ( Date: 15-Mar-2011 13:46) Posted:
Now it is supported by 30MA at $1.64 , so it would fall further to $1.56 if this support fails .
knightrider ( Date: 15-Mar-2011 12:17) Posted:
| si bu, so scary, then my all gain gone. I buy after CNY at S$1.56, then my profit on paper gain will gone. Should I take profit ??? |
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china minzhong looks a fair bargain now after it drop over 15% off its peak. good luck bosayor
