ChinaMilk   

China Milk

 cheong ahhhh.

 

100 % will cheong tommorrow.

 

hope it breaks 1.16 tomorrow

 

XLX run already.

Time for ChinaMilk soon?

 

looking good so far as stipulated by pulses magazine, bought in @ 1.03.

keeping a close watch on this counter, a very good article on it by pulses. 

And what do they deal with? Milk, bull semen [wow], cow embryos! 

=D

 

Needs to break 1.16 which was the support now turned resistance, for more upside.

 

Any view on this counter? Sporegal....may i ask whats your TA on this? thanks

 

Disappointing close.

Shooting star. The cow may need to rest a few days.

 

The cow is tired after swimming for so long against the current. Needs a rest and eat some grass.

I am out.

 

This cow still got milk.....

 

Big lots buying up today.......

 

Unlikley to hit $2 as convertible loan stock ex price is $2..at this price all will rush to convert

 

Looking good......

 

Spot on DnApeh. Sigh, I only noticed it after market closed, will be rushing to get a sip of the milk come monday . Bullish!

 

White Bull engulfing black bear.

Vested.

 

Definitely worth monitoring

Wan to vest soon

 

STOCK CALL: Morgan Stanley starts China Milk Products Group (G86.SG) at Overweight with S$2 target. Says company is one of best plays on resource productivity, with cattle herd boasting best composition of pedigree bulls, cows in China. "We believe the market is missing the full benefits of the management's ability to improve herd mix to drive higher milk yield, quality cattle semen and embryos, and in turn support margin trend, along with a further government push to improve cattle genetics in China." Stock +3.3% at S$1.24 midday. (FKH)

 

Still can squeeze more milk out.

 

This cow managed to survive the bloodbath yesterday.

 

CHINA MILK by nomura
- We visited China Milk's farm and under-construction milk-processing plant in Daqing last month, to discuss the company's expansion plans for more cows and processing milk for OEM products, which should deliver higher margins from raw materials, as well as other plans for adding value to the business model. We also discussed the regular addition of a deemed gain from fair value of the livestock, which in our previous meetings had concerned us.
- Good organic growth in the recent past. After a very good year in FY07 (March year-end), in which sales grew 47% and net profit rose 41%, China Milk continued to deliver at the operational level in 1Q FY08, with revenues growing 33% and operating profit rising 28%. This performance was not carried through at the bottom line, however, as net profit for the quarter fell 7%, from RMB89mn to RMB82mn. The company stressed that this slip in profits is entirely non-operational, and is due to the notional finance cost and change in fair value of its convertible bonds. Adding back these charges, RMB23.5mn for finance costs and RMB7.7mn for fair value changes, would result in net profit of RMB113mn, or up 28% y-y, in line with operating profit growth. Although bull se men remains China Milk's key revenue and profit driver, it has been the slowest growing part of the business in 1Q FY08, with revenues up just 23% y-y, with embryos and raw milk sales growing 74% and 61% y-y, respectively.
- This line item is important, however, as it accounted for approximately 14% of net profit in FY07. In our valuation table below (Exhibit 7), we are showing two sets of numbers for China Milk one reflects the consensus numbers as published by Bloomberg, the other strips out the herd revaluation gain (for forecast years, we have stripped out the same estimate as FY07). It may not be accurate to strip out the revaluation gain on the herd, but it is possible this gain may not be recurring, and so we feel it is conservative to show an adjusted figure.

 

Chinamilk dip slightly to $1.33 during panic selling these few days...back to $1.36