China Taisan   

Aoyee ! Aoyee! Ao! Ask Jane for help !!!

U also think of this. I scare this happen but no prove to show, i scare they un**rtable b**kdoor quietly. Now it better for management to  eat back their own share to prove they also want to die with the company, i want to see that first to be safe, if not can forget it.

zhixuen      ( Date: 06-Apr-2011 10:45) Posted: I calculated in SGD not RMB. Would you use 5000 dollar to buy a Iphone? Why the total value of Machine approxiamate $2 million SGD they have to spend 40 million? Hongwei, HongX and Gaoxian have made used the company money by accessing subsiadiary bank reserve. What the story behind Taisan? why share price keep sinking down eventhough the net profit and revenue achieved record high? SME companies which are owned by family or major shareholder more than 50% they can do many things behind. They don't touch the money directly they will use another path to access the cash. The auditors won't verify for the asset you purchase is higher than market value as long as you have valid PO and Invoice from vendor. You do not know who is the vendor of machine supplier. The family or ownership by CEO?     williamww      ( Date: 06-Apr-2011 10:12) Posted: Factory utilization rate has been above 80% in 2010. Average selling price per tonne is RMB 83,100 Gross Profit Margin is abt 26.4% 3,500 tonnes increase in output should yield an increase in  gross profit of approximately RMB 61m. Net  Profit Margin is abt 18.6% 3,500 tonnes increase in output should yield an increase in  net profit of approximately RMB 43m. Unless there is a drastic change in the profit margin and the utilization rate in 2011 and beyond, the RMB 211m investment in the new capacity seems reasonable.

 

It doesn't matter if you use SGD or RMB if you had used profit margin and the utilization rate in  the calculation.

I'm not  an expert in textile machinery, so I can't say all the machinery should cost only S$2m.  Where do you get your number?

If they really only cost S$2m, I believe a lot of textile companies in China  would invest aggressively to expand their production output because the capital investment can be recovered totally in less than 1 year based on China Taisan's statistics.

If you don't trust a company, you don't invest in them. No point in assuming what they can do with the cash without your knowledge.

 

 

I calculated in SGD not RMB.

Would you use 5000 dollar to buy a Iphone?

Why the total value of Machine approxiamate $2 million SGD they have to spend 40 million?

Hongwei, HongX and Gaoxian have made used the company money by accessing subsiadiary bank reserve.

What the story behind Taisan? why share price keep sinking down eventhough the net profit and revenue achieved record high?

SME companies which are owned by family or major shareholder more than 50% they can do many things behind.

They don't touch the money directly they will use another path to access the cash.

The auditors won't verify for the asset you purchase is higher than market value as long as you have valid PO and Invoice from vendor.

You do not know who is the vendor of machine supplier. The family or ownership by CEO?

 

 

williamww      ( Date: 06-Apr-2011 10:12) Posted: Factory utilization rate has been above 80% in 2010. Average selling price per tonne is RMB 83,100 Gross Profit Margin is abt 26.4% 3,500 tonnes increase in output should yield an increase in  gross profit of approximately RMB 61m. Net  Profit Margin is abt 18.6% 3,500 tonnes increase in output should yield an increase in  net profit of approximately RMB 43m. Unless there is a drastic change in the profit margin and the utilization rate in 2011 and beyond, the RMB 211m investment in the new capacity seems reasonable.

 

China Taisan  is  a good stock if it's  management  become more proactive in protecting the shareholders' value with share buyback and insider buying. They really need to instill confidence by taking actions.

 

Sometime is not about FA or TA anymore. It about.....

 

Factory utilization rate has been above 80% in 2010.
Average selling price per tonne is RMB 83,100

Gross Profit Margin is abt 26.4%

3,500 tonnes increase in output should yield an increase in  gross profit of approximately RMB 61m.


Net  Profit Margin is abt 18.6%

3,500 tonnes increase in output should yield an increase in  net profit of approximately RMB 43m.

Unless there is a drastic change in the profit margin and the utilization rate in 2011 and beyond, the RMB 211m investment in the new capacity seems reasonable.

 

 

I cut loss on this counter liao/

 

they learnt from mistake? now slowly unload to prevent sgx query again?

warrenbegger      ( Date: 05-Apr-2011 19:22) Posted: I keep seeing BBs unloading till now still havent unload finish. Maybe something they know in advance and  we still blur blur dont know. Pls dont be greedy and  load too much, perpare to run  if any surpise come. Dont know who unload so much, 1 month i think unload more than 100,000+ lots liao.

 

I keep seeing BBs unloading till now still havent unload finish. Maybe something they know in advance and  we still blur blur dont know. Pls dont be greedy and  load too much, perpare to run  if any surpise come. Dont know who unload so much, 1 month i think unload more than 100,000+ lots liao. 

 

Gd pt u bring out..

Would be interested to kn how they response.. but i tink the depreciation rate 15% p.a is abit high? Unless is some sort of consenses for this sort of equipment..

zhixuen      ( Date: 05-Apr-2011 17:32) Posted: Hi Patrick Kan, I have a doubt about the CAPEX plan to be launched on 2nd half 2011. The capacity is foreseen to be increased by 3500 tones which is around 15% of existing output. Based on the company net profit around S$51 million FY 2010 the expecting net profit from the increasing output might be 7.65 million. The CAPEX Plan mainly includes the acquisition of 1 unit of heat-setting machine, 6 units of dyeing machine, 8 sets of fabrics face finishing equipment and other miscellaneous items. The aggregate contractual values of the machineries are about RMB211.2 million (S$40.6 million ). Thus, the expecting return to breakeven the expanding cost would be about 5 years. Suppose the machines depreciation are 15% / year. After 5 years the value of the machine will be 3/4 of initial purchase. The return is not so attractive at all. Why the company has to implement such plan? Apart from this, the acquisition of machines seem is too expensive. A heat- setting machine is around USD 500000 and each dyeing machine is just USD 8000. Lastly, the fabrics face finishing equipment should be cheaper than above. Why the group has to spend RMB 211 million? This is not making sense. As an investor I wish to see that you can send me the breakdown price for the machines purchase above as well as the further details of CAPEX plan This is the email I had sent to his CFO but he didnt reply. The justification is based on my speculation please trade at own risk.

 

Hi Patrick Kan,

I have a doubt about the CAPEX plan to be launched on 2nd half 2011.

The capacity is foreseen to be increased by 3500 tones which is around 15% of existing output.

Based on the company net profit around S$51 million FY 2010 the expecting net profit from the increasing output might be 7.65 million.

The CAPEX Plan mainly includes the acquisition of 1 unit of heat-setting machine, 6 units of dyeing machine, 8 sets of fabrics face finishing equipment and other miscellaneous items.

The aggregate contractual values of the machineries are about RMB211.2 million (S$40.6 million ). Thus, the expecting return to breakeven the expanding cost would be about 5 years.

Suppose the machines depreciation are 15% / year. After 5 years the value of the machine will be 3/4 of initial purchase.

The return is not so attractive at all. Why the company has to implement such plan?

Apart from this, the acquisition of machines seem is too expensive. A heat- setting machine is around USD 500000 and each dyeing machine is just USD 8000. Lastly, the fabrics face finishing equipment should be cheaper than above.

Why the group has to spend RMB 211 million? This is not making sense.

As an investor I wish to see that you can send me the breakdown price for the machines purchase above as well as the further details of CAPEX plan

This is the email I had sent to his CFO but he didnt reply.

The justification is based on my speculation please trade at own risk.

 

 

care to explain more details?

zhixuen      ( Date: 05-Apr-2011 17:15) Posted: read back the CAPEX plan to be launched by 2nd quarter 2011  you will see something weird.

 

read back the CAPEX plan to be launched by 2nd quarter 2011  you will see something weird.

 

 

Ya lor !! S-Chips most of them like shit !

freeme      ( Date: 05-Apr-2011 17:10) Posted: oh man... pc of sh.it. back to 15cts

 

oh man... pc of sh.it.

back to 15cts 

 

Now with 3 textile company in jail now with unknown fate, Taisan happily outside jumping around :)

freeme      ( Date: 05-Apr-2011 15:02) Posted: add another 50lot at 0.155.. so slow here.. all ship left for gold mine.. this one is on sapan.. need to manually row it.. hai

 

add another 50lot at 0.155..

so slow here.. all ship left for gold mine.. this one is on sapan.. need to manually row it.. hai 

 

Buy some is ok, just dont buy too many. Cheers :)

*If fall below 0.145. Cut cut cut.

Hulumas      ( Date: 04-Apr-2011 18:15) Posted: I buy some already! warrenbegger      ( Date: 04-Apr-2011 18:11) Posted: 140 x 50= 7000. 190 x 50= 9500 7000 + 9500 =16500 I use less than 17000 to play 2 S-chick counter really not that much. My friend whack 100,000+ on S-chick then i consider a lot liao. But BBs can whack up to millions per counter compare to us then we r just peanuts to them also. Different player got different value, to me, i play little value on S-chick for fun in case backside kanna burn. But if i see any chance on local good stable chip, i can also whack a lots if i want(but i always keep 30% for backup). Forex use leverage 50/200 : 1 to earn more. I like to play penny counter to leverage more(but more risk too)

 

I buy some already!

warrenbegger      ( Date: 04-Apr-2011 18:11) Posted: 140 x 50= 7000. 190 x 50= 9500 7000 + 9500 =16500 I use less than 17000 to play 2 S-chick counter really not that much. My friend whack 100,000+ on S-chick then i consider a lot liao. But BBs can whack up to millions per counter compare to us then we r just peanuts to them also. Different player got different value, to me, i play little value on S-chick for fun in case backside kanna burn. But if i see any chance on local good stable chip, i can also whack a lots if i want(but i always keep 30% for backup). Forex use leverage 50/200 : 1 to earn more. I like to play penny counter to leverage more(but more risk too). des_khor      ( Date: 04-Apr-2011 17:18) Posted: You are very rich !! 50 lots to you just like peanuts

 

140 x 50= 7000.

190 x 50= 9500

7000 + 9500 =16500

I use less than 17000 to play 2 S-chick counter really not that much. My friend whack 100,000+ on S-chick then i consider a lot liao. But BBs can whack up to millions per counter compare to us then we r just peanuts to them also. Different player got different value, to me, i play little value on S-chick for fun in case backside kanna burn. But if i see any chance on local good stable chip, i can also whack a lots if i want(but i always keep 30% for backup). Forex use leverage 50/200 : 1 to earn more. I like to play penny counter to leverage more(but more risk too).

des_khor      ( Date: 04-Apr-2011 17:18) Posted: You are very rich !! 50 lots to you just like peanuts ! warrenbegger      ( Date: 04-Apr-2011 12:56) Posted: I hit at 0.140 and run out at 0.160 when it downtrend again. I didnt vest much(50 lots for fun  only, kanna suspended i also dont scare)! Buy and hold is for local, hit and run far far is for S-cheat. Cause dont know when S-cheat time bomb will explode? I also load Anchun at 0.19 and out at 0.20(50 lots also). I tell others dont play S-cheat but i play myself, need to go temple seek for forgiveness liao, pls dont tell others i backside itchy also play k. Now i got no S-cheat holding, downside so much and upside so little(only can earn little peanut  but can kanna suspended, not worth it  leh). I now all play local-chick, more shoik,  more stable, more exp(PE  more)  than S-cheat but at least can sleep well and suck thumb hug bloster  :