Hengxin Tech   

Hengxin on uptrend?

Precisely!

If I had the foresight that it would rise northwards, I would have bought another 20 lots at 0.485 this morning.

 

Before it did the 'cheong' it went to a low of 0.485 then up to 0.54, who could have predicted this?

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I never know how to catch a rising star! The price of each stock I sell usually gravitates upwards immediately after I sell. Ditto with buying shares - Murphy's Law in operation for me!

Hengxin is a good stock provided its value drops to below .40. 

 

Hi

The price cheong even someone sell out !

Hengxin Equity Ventures sold  16,800,000 ND 0.435 0 0

 

Hi IreneL.

Even if Hengxin were to go up some more, don't feel any loss. Do you realise you have already made quite a lot when it went from 0.39 to 0.50? You should be celebrating the gain! Don't you agree with me that it actually a gain for you? Of course it is! I think you gained about 1.1k per 10 lots. Now that's what I call lucky. How lucky you are!!! :)

:)
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Hi iPunter

Precisely my sentiments on Hengxin - believed the big guys were muscling in and that accounted for the surge in price.  So took the opportunity to offload.  One report indicated Equity Ventures became one of the major shareholders.  However I believe Hengxin is worth holding on, but not at the price I bought previously.  So if it move southwards may consider buying back.

I am not confident of buying SPC right now, with the wildly fluctuating oil prices and OPEC's decision to curb production.  Will wait a little longer.

 

Hi IreneL,
By the way, if you are also intending to look for a blue chip to buy and hold for the longer term, it may be good to keep an eye on SPC. This kind of chance will only come once in a long while. But I'll not go in just yet... just a little while longer should be it.  :)

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It's hard to say cos this kind of movement is highly unusual!. I believe some big boys are active in it. Highly unusual price movements indeed !!!

Anyway, it's good that you didn't lose on this one since you got in at a high point.

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Hi iPunter

I was away last few days.  But texted my broker to sell all 20 lots at .50. He didnt when it went upto 0.505. But after getting a little piece of my mind, he sold all at 0.50.  Not much profit but at least I dont loose either having held them for a month exactly.

Sold them as I want my $$$ to buy either Memory Device, UTAC or Centillion.

Do you expect price to move further north?

Regards

 

Hi IreneL,

Hengxin is now 'cheonging' up. Hope you are riding in it. If so, have you decided on the exit point?  :)

Regards.

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Hi

Does anyone has any idea on Hengxin's price upward movement?  Last done at 0.495.

The company's 14 Nov. annoucement is neutral.



Many thanks

 

 



HENGXIN Technology said yesterday that its deal involving the transfer of the assets of a now-defunct company was above board and in accordance with Chinese law.



'We wish to highlight that our PRC solicitors have opined that Hengxin Technology has completed all necessary procedures and obtained the relevant documents to transfer all imported equipment and machinery from Hengtong Cable to Hengxin Technology in accordance with relevant PRC laws,' Hengxin said in a statement to the Singapore Exchange (SGX).

The company was res ponding to a query by SGX after The Business Times published a story about a civil suit against its chief executive Qian Lirong.

BT reported that Mr Qian has been taken to court for failing to turn in the accounts of Hengtong Cable, whose assets were transferred to Hengxin before it listed here. As the transfer was carried out before Hengxin's listing in Singapore, their value would have been included in the listing prospectus.

Mr Qian and two other people were sent a writ by a court in Jiangsu province on Oct 23 to produce evidence pertaining to the closure of Hengtong Cable and to file petitions, if any.

Hengtong Cable assets transferred to Hengxin Technology in July 2003 included land-use rights, buildings, plant and machinery worth 72.2 million yuan (S$14.3 million). Hengtong Cable was subsequently deregistered on Oct 9, 2005.

Hengtong Group, which controlled Hengtong Cable, wants the accounts back, but Mr Qian has not turned over the books.

Hengxin Technology said yesterday that lawyers for Mr Qian and the other two former managers of Hengtong Cable had said the claims against them are 'baseless and without merit'.

Hengxin Technology also said the 72.2 million yuan price for the assets that were transferred was arrived at on a willing-buyer, willing-seller basis and had been 'fully paid'.

The company also said the claim against the three individuals does not affect the 'legality and validity of our acquisition'.

The claim against the individuals is 'of a personal nature and involves a certain 'housekeeping' matter concerning certain allegedly missing documents and has no impact on the legality and validity of the deregistration of Hengtong Cable', it said.

 

buz cost down due to fell in crude price but China stock now in depression. Any news is bad news.

 

Halt trading, chairman of Hengxin got civil claim.. might not be a good sign now.

 

It was higher upon resuming trade after announcing that it has won an order worth RMB113.8m from ZTE Kangxun Telecom Co Ltd, dealers said.



The contract involves the supply of 2,300 kilometers of cables and 50,000 connectors to ZTE by the second quarter of 2007. About two-thirds of the orders are expected to be delivered this year.



"There is a huge window of opportunity for us as the number of mobile subscribers continues to rise rapidly in China and in developing markets like India. This, in turn, fuels demand for coaxial cables," Hengxin said.

 

After lifting the halt, it straight up to 0.495 ! Now is at 0.485 ! Anyone interest in this counter ?

 

After announce the new order on RM$100+ million today, it is halt at the moment !

 

  For reference, please. 



   The ability to consolidate at relatively high levels is positive for the stock. It is also well supported near $0.48-0.49. If traders are looking for a low risk entry, then Hengxin at
$0.48-0.485 could fit the bill. The current range appears to be between
$0.48-0.55.  A move to $0.53 is possible over a 1-2 week period.

Source : UOBKH

 

From TA charts, I think you should expect more downward movement.

However, this is a relatively cheap stock and TA may not be too accurate for this one.

 

Any comments on why this stock keeps going down despite relatively strong fundamentals and good growth?