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Thanks Happy day for all the buy call. I have profited a lot from your call. Thanks again.
so many pp short huh... dangerous
wait for those who bought 81 to 86cts to clear last week >200mil traded
| Shortist caught again..87/87.5cts during buy in |
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| Shortist caught again..87/87.5cts during buy in |
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Can't seem to break 88 cents....
82cts very gd price to enter...
See Chinaoil field financials ipo at 60cts...
Financial Highlights
Fuelled by the demand for tertiary oil recovery, China Oilfield Technology's revenue has grown from approximately RMB49.7 million in FY2004 to approximately RMB149.4 million in FY2006. The Group's net profit grew from RMB17.7 million in FY2004 to RMB97.7 million in FY2006.
In the first five months of FY2007 ("FP2007"), the Group posted a revenue of [color=green]RMB34.3 million (compared to RMB29.8 million in FP2006), and net profit of RMB17.4 million (compared to RMB12.4 million in FP2006). A major portion of the Group's sales are typically recognised in the second half of the year.
As at 31 May 2007, the Group has secured confirmed sales orders amounting to approximately RMB93.7 million, which are usually fulfilled within[/color] six months.
Compared to sinostar net profit of RMB 97mil(SS19.6mil) verses chinaoilfield RMB 97mil fro 2006..evenly match..who will be better..Sinostar is positioning for contra players to be out...back to 85cts
Thought of buying for medium term. I still feel that the current price is too high.
What is a good price to enter?
quote="88win88"]short term, no one can be sure......long term I believe this stock is a very good one due to no major competitors in China and the demand for the chemicals Sinostar produced far exceed the supply currently..........[/quote]..local demand is so overwhelming that Sinostar is not prepared to look outside PRC for . business..can't cope with local demand..gd upside..let all weak holders sell out...shd resume up trend again...no sell down consolidating
Is there going to be a sell down this afternoon? i locked in at 0.85..... Is it too high to hold for short term?
Going to move up near buy-in 11.15am..buy b4 it spikes up today
Long term ok. Not short term.
Sinostar shld be compared with Ouhua, Maybe slightly better.
ChinaEnergy and Jiutian are very different.
Even CE and Jiutian are different.
ChinaEnergy manufactures DME, used for making LPG.
Jiutian manufactures DMF used in chemical industry eg plastic and solvant.
Many people misunderstood.
Ouhua in LPG but low profit margin. Prone to profits warning.
Sinostar... do ur own research before conclusion.
Just my 2 cents...
great re-entry point is at 0.76.. at your own risk.
ChinaEnergy and Jiutian are in higher margin business.
Rather different.
Sinostar IPO
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Source: http://extraordinaryprofits.blogspot...ostar-ipo.html
Sinostar
Closing date of application: 24 September 2007
Commencement of trading: 26 September 2007
Established in 1993, Sinostar is engaged in the fractionation of raw LPG for the production and sale of propylene, polypropylene, and LPG. They are one of the largest producers and suppliers of downstream petrochemical products within the 400km radius of their production facilities.
Their production process and product applications are depicted in the illustrations below:
Key Competitive Strengths:
Their strategic affiliation with the Dongming Petrochem Group ensures a secure supply of raw LPG and thus creates barriers to entry for its competitors.
Their production facilities are startegically located within the Zhongyuan Oilfield - one of the largest oilfields in the PRC - thus they enjoy efficiency and cost savings in their transportation.
They have an established brand recognition - their Hengchang brand for their polypropylene products was named as ?Shandong Province Famous Trade Mark?
and ?Shandong Top Brand? in August and October 2005 respectively.
Net profit rose by 25% from FY2004 to FY2005, and 400% from FY2005 to FY2006.
Key Growth Plans:
To construct a heavy oil conversion facility with a maximum capacity to process 600,000 tonnes of heavy oil for the extraction of raw LPG and other derivatives.
To construct a new gas fractionation facility to increase their raw LPG processing capacity to a total of 600,000 tonnes per annum.
To adopt a new technology to increase the output ratio of raw LPG.
Financial figures
Intended IPO price: $0.38
No. of shares available for public offer: 5m
No. of shares available for placement offer: 155.4m
Total post invitation share capital: Approx. 490m
Note: FY2007 figures were unavailable in the prospectus. The figures stated here are based on a hypothetical estimate of 70% earnings increase.
FY2006
Revenue: $202m
Profit: $19.6m
NAV: 0.0438
EPS: 0.0307
EPS % Incr: 400%
PE ratio: 12.4x
Price: 0.38
FY2007
Revenue: $343.4m
Profit: $33.3m
NAV: 0.1146 (incl. IPO proceeds)
EPS: 0.0522
EPS Incr: 70% (Est.)
PE Ratio: 7.3x
Price 0.38
Dividend policy: No fixed policy.
Conclusion:
I based my 70% earnings growth estimate based on the fact that they plan to increase their processing capacity from 350,o00 to 600,000 tonnes p.a. or equivalent to a 70% increase.
At just 7.3x PE, it is priced at a good discount to the usual 15x PE for a mid-cap china stock.
Furthermore, this recent China report by Merrill Lynch here had identified the petrochemical sector as one to look out for, and this is reflected by the numerous SGX-listed china petrochemical stocks trading at high PEs, for example:
China Energy at $1.48 is trading at 42x PE.
Jiutian Chemical at $2.90 is trading at 50.3x PE. |
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happyday
Joined: 20 Apr 2007
Posts: 1879
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 Posted: Sun Oct 07, 2007 11:13 pm Post subject: SINOSTAR to MATCH CHINAENERGY AND JUITIAN PERFORMANCE |
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THe Best Is Yet To Be
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Quote:
Originally Posted by happyday
Since its ipo debut on wed 26Sept..Sinostar trade btw 55 to 59.5cts about 52% above its ipo price of 38cts....and on new trading day mon 1 Oct..it shot above 60cts and by noon closed at 66cts...tue it crosses 70cts hitting a high of 80.5cts and from wed to thur it touched a high of about 88cts before closing at 85cts on fri 5 Oct...How will Sinostar perform next week?
Next week . $1..sounds exaggerating..possibe? ....UniAsia within 1 and half months hit $1.63 today's closing price from its ipo of 55cts...likely hit high $1.12 before closing $1.08 for next week ending fri 12 Oct... Mon likley cross 90cts if Dow shoots up..wed S'pore GDP show strong growth If UniAsia from ipo of 55cts and hit $1.63 as at today fri 5 Oct...Sinostar can surpass that kind of performance?
Extracted from CNA...
Quote:
Originally Posted by 88win88
Wait for result announcement and it might be another stock worth more than $2.....compare Sinostar with similiar industry stock and I believe it is a better stock with no competitor as all companies in China together are unable to meet the demand of the chemicals they produce......and comparing the production per year, we would find that this stock might worth than $2.......
..wow 88win88 is well informed..normally actual results exceed ipo prospectus so far quite true for most gd S stocks with potential..will load > on Mon |
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Dun mind i add something ...
Sinostar is ok for long term keeps...
but short term wise, Sinostar is over speculated....
TP by right is <0.8 by this year end.
Definitely overvalued right now and could fall this week...
Short term players better take profit.
Sinostar got great potential to hit > $1 very soon. So buy and hold is the best way to make more money. Very great counter for this season.More and more big fishes is buying this share.
On Thursday, I sold Sinostar 86c and buy back around 84c. And sold again 87c and buy back around 84.5 cent.
Extracted from CNA
quote="88win88"]Wait for result announcement and it might be another stock worth more than $2.....compare Sinostar with similiar industry stock and I believe it is a better stock with no competitor as all companies in China together are unable to meet the demand of the chemicals they produce......and comparing the production per year, we would find that this stock might worth than $2.......[/quote]..wow 88win88 is well informed..normally actual results exceed ipo prospectus so far quite true for most gd S stocks with potential..will load > on Mon
Next week . $1..sounds exaggerating..possibe? ....UniAsia within 1 and half months hit $1.63 today's closing price from its ipo of 55cts...likely hit high $1.12 before closing $1.08 for next week ending fri 12 Oct... Mon likley cross 90cts if Dow shoots up..wed S'pore GDP show strong growth
Starting to move upwards---------------->
