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Ho Ker Chern, a new independent director for CAE. He is also the CFO for China Eratat Sports Fashion ltd.
Liu Xiaozhi did not want to seek re-election as director for CAE. Dr Liu is still holding 3,965,000 CAE shares bought from open market.
Hope Mr Wang Laisheng can make CAE a profitable company in near future, like OSIM.
May qualify its accounts matter of timr
Shanghai, March 31, 2010
Chery Auto plans to have its 3 millionth vehicle roll off the production line by the end of 2011 and build its first overseas vehicle plant template in South America, said Yin Tongyao, Chairman of the Chery Automobile Co., Ltd at the release conference of its 2 millionth vehicle, Chery Rely X5 SUV.
Bad..v bad never expect so bad from sudden gains to sudden losses..something fishy..another time bomb for S chip not worth the rest.
| QBEC wrote: |
This is a horrible company.
Lucky i cut loss after last quarter result and call it quit with CAE.
With its high debt, it might burn itself to slow death.
There is no point monitoring how many car sale in China.
There is no correlation between car sale in China and their earning.
For US side, the story is the same. Even when GM sale is up, this guy is still bleeding. Gone case. Amo Director also sell off almost little left.
Becasue base on previous sgx CAE result CAE China operation is still making money of positive 74.4 million rmb for 9 months to 3Q and upon reaching 4Q it dropped to negative 89.2 million rmb !!!! What is this !!!!!! 
US side also mounted losses but understanable and expected from 3Q of 59.4 million rmb to 77.4 million rmb
Now CAE total loss is 165 million rmb
Could it be accounting fraud to jack up share price after 2Q result ??
and by 4Q average out losses. i didn't bother to look into detals why they lost in 4Q China side of operation. any explaination.
Anyway buy good company that gives dividend is most reliable ( for time being), just my thinking. |
I sold off all mine at 17cts minimal profit consider breakeven after the long wait-hopeless company and the accumulated losses may drag the co down further despite record auto mobile sale in China,apparently no correlation... 
starlene ( Date: 06-Jan-2010 12:47) Posted:
wait for FYE results esp on China auto operations will boost shares to new >09 high 18.5cts and when dividend is declarec ..a ray of hope whne everyone gave up on CAE |
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| Wed Mar 03, 2010 11:49 pm Post subject: |
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| QBEC wrote: |
This is a horrible company.
Lucky i cut loss after last quarter result and call it quit with CAE.
With its high debt, it might burn itself to slow death.
There is no point monitoring how many car sale in China.
There is no correlation between car sale in China and their earning.
For US side, the story is the same. Even when GM sale is up, this guy is still bleeding. Gone case. Amo Director also sell off almost little left.
Becasue base on previous sgx CAE result CAE China operation is still making money of positive 74.4 million rmb for 9 months to 3Q and upon reaching 4Q it dropped to negative 89.2 million rmb !!!! What is this !!!!!!
US side also mounted losses but understanable and expected from 3Q of 59.4 million rmb to 77.4 million rmb
Now CAE total loss is 165 million rmb
Could it be accounting fraud to jack up share price after 2Q result ??
and by 4Q average out losses. i didn't bother to look into detals why they lost in 4Q China side of operation. any explaination.
Anyway buy good company that gives dividend is most reliable ( for time being), just my thinking. |
I sold off all mine at 17cts minimal profit consider breakeven after the long wait-hopeless company and the accumulated losses may drag the co down further despite record auto mobile sale in China,apparently no correlation... No wonder the GM is selling the shares all the time
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When the FYE results draw near,CAE is likley to cross 20cts..have consolidate 16.5-17cts for too long liao
Today close at 18.5cts...at this price most investors who bought in 2009 likley not losing $$$ liao...consider CAE has dropped from 80cts to current 18.5cts,limited downside from here
chinastar ( Date: 18-Feb-2010 17:24) Posted:
China's January auto sales, output hit new record (Xinhua 16th Feb 2010)
China's auto sales and output both more than doubled in January from a year earlier to exceed 1.6 million units, a new record, the China Association of Automobile Manufacturers (CAAM) said last week.
Auto sales topped 1.66 million units while output reached 1.61 million units, according to CAAM.
Although the strong growth was partly a result of last year's low January figures, the stable and comparatively fast economic growth and the government's policies to boost auto sales helped boost ales, CAAM said.
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China's January auto sales, output hit new record (Xinhua 16th Feb 2010)
China's auto sales and output both more than doubled in January from a year earlier to exceed 1.6 million units, a new record, the China Association of Automobile Manufacturers (CAAM) said last week.
Auto sales topped 1.66 million units while output reached 1.61 million units, according to CAAM.
Although the strong growth was partly a result of last year's low January figures, the stable and comparatively fast economic growth and the government's policies to boost auto sales helped boost ales, CAAM said.
China's passenger car sales in January 2010 may exceed 1 million units again, the National Passenger Car Information Exchange Association said on 03-02-2010, SinoCast reported.
Some automakers, including Dongfeng Peugeot Citroen, Changan Ford, Shanghai GM, achieved their record sales in January.
Shanghai GM, a joint venture between SAIC Motor and General Motors, sold 90,202 cars in January 2010, when Chery's total sales and exports separately hit 68,914 and 4519 units.
Chery Auto eyes annual capacity of one million vehicles
China's leading private carmaker Chery Auto will add 400,000 units to its current capacity of 600,000 by setting up its new plants in Dalian and Wuhu cities, china business news reported on 25th Jan 2010.
Chery Auto and Dalian municipality broke ground in september 2009 to build a plant for producing Chery vehicles in the coastal city of northeast China. The 4.7 billion yuan auto plant will produce 200,000 passenger cars annually for domestic and overseas markets.
As China has overtaken the United States as the world's largest auto market, Chery is starting construction of its 1.61 million square-meter new facility at a cost of 10 billion yuan in Anhui province's Wuhu city, where the carmaker is headquartered.
Chery Auto plans to overtake BYD in 2010 sales
China's largest indigenous automaker Chery Auto plans to outsell its home-grown rival BYD Auto this year, the China Business News (CBN) reported on 25th Jan 2010, citing an unnamed source.
Ma Deji, Chery's deputy general manager, said its company has set the 2010 sales target at 700,000 units. But a company insider told the CBN that Chery will not loose ground to shenzhen-based BYD Auto, which has planned to sell 800,000 unit this year.
The anhui-based automaker just inaugurated a new plant in wuhu, anhui province on Jan 16. With a 10-billion-yuan investment, the plan will finally add up Chery's annual vehicle production capacity to 1 million units after it goes into production in 2012.
BYD auto, 10 percent owned by Warren Buffett's Berkshire Hathaway Inc, aims to produce 800,000 vehicles in 2010, backed by robust demand.
chinastar ( Date: 05-Jan-2010 18:29) Posted:
Acquisition of land by CAE's subsidiary ( SGX annoucement on 16-12-2009 )
The purpose of the transaction is for the expansion of our production facility in Wuhu Tianhai in order to meet the higher demand from our main customer Chery. |
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China's drivers get dual benefits from auto trade-in
China's drivers who trade in their old vehicles for a new, clean, small car will be eligible for both a subsidy and a lower purchase tax, the commerce and finance ministry said on 18th Jan 2010, media said.
The chinese government had agreed that from the beginnning of 2010, buyers of cars with a 1.6 liter or smaller engine are subject to 7.5% purchase tax. That is 2.5% lower than the original level.
While those who turn in their used car as they plan to buy a new one, can now receive a subsidy of up to 18000 yuan, up fom the previous 5000 yuan ceiling limit.
Previously, consumers could not benefit from both incentives- those who replaced their old, polluting vehicles with a vehicle with an engine 1.6 liters and smaller were not eligible for the lower purchase tax.
Indeed. 13million cars now, consider in medium and loner term? Commonsense tells me this is a good bet!
China's auto factories cannot meet demand....screamed the headlines of EDGE magazine Jan 18 issue and with China replacing US as the world's largest automobile mkt surging 46% to 13.6mil and its auto retail sales jump the most since 1986..nowonder CAE has been inching up..selling drying up but with big fish still collecting..and with paid up of only 681mil shares,hope pple will recognise potential of CAE
chinastar ( Date: 12-Jan-2010 20:31) Posted:
China's auto output and sales in 2010 are expected to rise about 10% to 15 million units, xinhua news reported on 11-1-2010, citing an industry official.
In 2010, the chinese government will continue to support the auto industry, which is seen as a pillar of the national economy, said Dong Yang, executive vice president and secretary general of the china association of automobile manufacturers (CAAM).
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China's auto output and sales in 2010 are expected to rise about 10% to 15 million units, xinhua news reported on 11-1-2010, citing an industry official.
In 2010, the chinese government will continue to support the auto industry, which is seen as a pillar of the national economy, said Dong Yang, executive vice president and secretary general of the china association of automobile manufacturers (CAAM).
Vehicle sales in China in 2009 rose 46.2% to 13.64 million units, according to an industry group's data issued on 11-1-2010, and the country overtook the U.S. as the world's largest auto market for the first time, media reported.
CAE close at 17.5cts-latest news that China's car sales for 2009 exceed that of U.S for the first time bodes well for CAE 
10:22:13 0.165 5,000 B
10:13:33 0.170 40,000 A
10:10:28 0.170 125,000 B
10:09:59 0.170 10,000 B
10:06:18 0.170 50,000 B
10:06:12 0.170 115,000 A
10:05:59 0.170 20,000 A
10:03:37 0.170 50,000 B
10:02:25 0.170 100,000 B
10:02:09 0.170 30,000 B
09:59:43 0.170 5,000 B
09:58:09 0.170 415,000 A
09:56:25 0.170 40,000 A
09:54:21 0.170 10,000 A
09:46:40 0.165 60,000 B
09:39:42 0.165 50,000 B
09:23:43 0.165 54,000 B
09:09:58 0.165 20,000 A
09:09:16 0.165 100,000 A
08:59:02 0.160 250,000 B
resistance at 17/18cts still a relatively cheap counter
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