Friday, September 30, 2011
Thursday, September 29, 2011
Man Shing Exceeds 2011 Fiscal Year End Guidance With $9 Million in Net Income or $0.21 EPS
HONG KONG--(Marketwire -09/28/11)- Man Shing Agricultural Holdings, Inc. (OTC.BB: MSAH.OB - News) (OTCQB: MSAH.OB - News) (" Man Shing" the "Company," "we," "us," or "our"), located in the Shandong Province and one of the largest Chinese exporters of high quality, fresh ginger to Japan, the United Kingdom, and the Netherlands, today announced the financial results for the fiscal year ending June 30, 2011. Net income for the 2011 fiscal year totaled $9 million, or basic earnings per share of $0.21, exceeding guidance of $8.8 million.
Financial Highlights for the Fiscal Year Ended June 30, 2011
Operational Highlights for the Fiscal Year Ended June 30, 2011
Mr. Shili Liu, Chairman and Chief Executive Officer of Man Shing, stated, "We are pleased that we generated $9 million in net income and exceed our guidance. Additionally, we successfully increased our land capacity by 45%, from 5.3 million to 7.7 million square meters, allowing us to significantly increase our production capacity for the current fiscal year. We completed planting on all 7.7 million square meters in April and will begin to harvest the ginger by October 2011. The uniqueness of our business model is apparent as we increase our land capacity and are able to continually implement our quality standards without incurring additional expenses. This enabled us to increase our gross margins year over year from 37.5% in fiscal 2010 to 42.2% in fiscal 2011. Our company is well capitalized and as of June 30, 2011, we had approximately $7.1 million in cash which will provide us with sufficient capital to fuel the future growth of the Company."
Financial results for the twelve months ended June 30, 2011
Financial Highlights for the Fiscal Year Ended June 30, 2011
- Revenue increased 43.8% year-over-year to $32.3 million;
- Gross profit increased 61.8% to $13.6 million; gross margin improved to 42.2%;
- Net income increased 72.1% to $9 million;
- Basic earnings per share of $0.21 based on 42.3 million weighted average shares outstanding;
- Cash and cash equivalents totaled $7.1 million;
- Working capital increased year-over-year by $13.3 million to $23.6 million.
Operational Highlights for the Fiscal Year Ended June 30, 2011
- Successfully leased an additional 2.4 million square meters of farmland in March 2011, increasing total farmland by approximately 45% to 7.7 million square meters.
- Focused on producing high quality ginger which provides several important advantages including a higher price point and increased customer confidence.
- Appointed Mr. Xuguang Qiao and Mr. Kun Xu to the Board of Directors, each of whom have extensive experience in the agricultural industry.
- Approximately 3.4 million preferred shares outstanding were canceled.
Mr. Shili Liu, Chairman and Chief Executive Officer of Man Shing, stated, "We are pleased that we generated $9 million in net income and exceed our guidance. Additionally, we successfully increased our land capacity by 45%, from 5.3 million to 7.7 million square meters, allowing us to significantly increase our production capacity for the current fiscal year. We completed planting on all 7.7 million square meters in April and will begin to harvest the ginger by October 2011. The uniqueness of our business model is apparent as we increase our land capacity and are able to continually implement our quality standards without incurring additional expenses. This enabled us to increase our gross margins year over year from 37.5% in fiscal 2010 to 42.2% in fiscal 2011. Our company is well capitalized and as of June 30, 2011, we had approximately $7.1 million in cash which will provide us with sufficient capital to fuel the future growth of the Company."
Financial results for the twelve months ended June 30, 2011
---------------------------------------------------------------------------- Year to Date Financials (USD) (unaudited) ---------------------------------------------------------------------------- Twelve months ended June 30, 2011 2010 CHANGE ---------------------------------------------------------------------------- Revenue $32.3 million $22.4 million +43.8% ---------------------------------------------------------------------------- Gross Profit $13.6 million $8.4 million +61.8% ---------------------------------------------------------------------------- Gross Profit Margin 42.2% 37.5% +12.5% ---------------------------------------------------------------------------- Net Income $9 million $5.2 million +72.1% ---------------------------------------------------------------------------- Basic EPS* $0.21 $0.18 +16.7% ---------------------------------------------------------------------------- Diluted EPS ** $0.15 $0.07 +114.3% ---------------------------------------------------------------------------- * Based on 42.3 million and 28.8 million shares outstanding for fiscal 2011 and 2010, respectively. ** Based on 59.6 million and 72.3 million fully diluted shares outstanding for fiscal 2011 and 2010, respectively. ----------------------------------------------------------------------------
Wednesday, September 28, 2011
An older article about some short sellers - The 'Shorts' Who Popped a China Bubble
SPECIAL REPORT - The 'Shorts' Who Popped a China Bubble
Tuesday, September 27, 2011
Monday, September 26, 2011
China Marine Group Provides Update on Seafood Snacks Business
China Marine Group Provides Update on Seafood Snacks Business |
China Marine Food Grp. Limited Common Stock (AMEX:CMFO)Today : Monday 26 September 2011 |
Friday, September 23, 2011
Monday, September 19, 2011
Sunday, September 18, 2011
Thursday, September 15, 2011
Questions About Silvercorp. (NYSE: SVM, TSX: SVM CN)
An anonymous Whistle Blower send letters all over the place to manipulate the share price.
Published Research on ChinaStockWatch
Published Research on ChinaStockWatch
Wednesday, September 14, 2011
China Security & Surveillance (CSR) Voted In Favor For Merger
Wednesday, September 14, 2011
Going Private News
SHENZHEN, China, September 14, 2011 /PRNewswire-Asia/ -- China Security & Surveillance Technology, Inc. ("CSST" or the "Company") (NYSE:CSR), a leading integrated surveillance and safety solutions provider in the P.R.C., today announced that, at the annual meeting of CSST stockholders held earlier today, the Company's stockholders voted, among other things, in favor of the proposal to adopt the previously announced Amended and Restated Agreement and Plan of Merger (the "Merger Agreement"), dated as of May 3, 2011, by and among Rightmark Holdings Limited, a British Virgin Islands company ("Parent"), Rightmark Merger Sub Limited, a Delaware corporation and a wholly owned, direct subsidiary of Parent ("Merger Sub"), the Company and Mr. Guoshen Tu (solely for the purpose of Section 6.15 of the Merger Agreement), pursuant to which Merger Sub will be merged with and into the Company with the Company surviving the merger as a wholly owned subsidiary of Parent. Approximately 84.98% of the Company's total outstanding shares of common stock voted in person or by proxy at today's annual meeting. Approximately 69.31% of the shares outstanding were voted in favor of the proposal to adopt the Merger Agreement. The proposal to adopt the Merger Agreement was also approved by approximately 59.91% of the shares of common stock outstanding held by unaffiliated stockholders, satisfying the "majority of the minority" voting requirement set forth in the Merger Agreement.
The parties currently expect to complete the merger in September 2011, subject to the satisfaction or waiver of the conditions set forth in the Merger Agreement. If completed, the proposed merger would result in the Company becoming a privately held company and its common stock would no longer be listed on the New York Stock Exchange.
For more on this subject read the article US-Listed China Stocks Vulnerable To MBO's
The parties currently expect to complete the merger in September 2011, subject to the satisfaction or waiver of the conditions set forth in the Merger Agreement. If completed, the proposed merger would result in the Company becoming a privately held company and its common stock would no longer be listed on the New York Stock Exchange.
For more on this subject read the article US-Listed China Stocks Vulnerable To MBO's
Hit Piece Lihua International Investors: Do You Believe In Miracles?
Article Seeking Alpha
Nowadays a lot of writers, analysts etc see so many ghosts and think that every US-listed China company is a fraud. Plain BS of course!
Nowadays a lot of writers, analysts etc see so many ghosts and think that every US-listed China company is a fraud. Plain BS of course!
Longwei Petroleum Announces Financial Results for Fiscal 2011
Fiscal Year 2011 Financial Highlights: (Year-over-Year Results)
- Revenues increased 40% to $481.6 million, compared with $343.2 million.
- Operating Income increased 42% to $91.7 million, compared with $64.4 million.
- Non-GAAP* Net Income Attributable to Common Shareholders increased 44% to $68.0 million, compared to $47.2 million.
- Non-GAAP* Basic Earnings per Share ("EPS") increased to $0.69 per share and Diluted EPS to $0.67 per share, compared to $0.55 per share basic and $0.50 diluted EPS for the fiscal year ended June 30, 2010.
- GAAP Net Income Attributable to Common Shareholders increased 52% to $62.5 million, compared with $41.1 million.
- Basic Earnings per Share ("EPS") increased to $0.64 per share and Diluted EPS to $0.61 per share, compared to $0.48 per share basic and $0.43 diluted EPS for the fiscal year ended June 30, 2010.
- The Company's Taiyuan and Gujiao fuel storage facilities contributed revenues of $269.7 million and $188.3 million, respectively. Agency fees contributed $23.5 million to revenues.
- Stockholders' Equity increased $83.9 million to $261.7 million, compared with $177.8 million
IBD-article on Short-selling websites
Short-selling websites are hardly disinterested parties, but may be providing a Darwinian service by weeding out “phony” Chinese firms seeking to dupe investors. China’s fast-growing economy has created many great opportunities for investors — and hucksters. With global accounting giants barred from directly auditing U.S.-listed Chinese firms, reliable financials are hard to find.
Into this void, short-seller sites such as Alfredlittle, Citron Research and Muddywaters have seized on alleged irregularities at several firms. They include China Media Express, Deer Consumer Products and Longtop Financial Technologies. The allegations have prompted SEC investigations, delistings (including Longtop) and trading halts involving more than a dozen China-based firms since March.
IBD recently conducted email interviews with the people behind these short-seller sites. An examination of their data and techniques hints that much of what they publish may be true. Yet it’s hard to verify research in China without boots on the ground.
How do short sites gather information in a nation thousands of miles from the U.S., and can you believe what they say?
Alfredlittle.com says it uses local analysts. They are said to comb public documents in Chinese. They also pose as customers and carry out video surveillance. And they compare SEC filings with data on file at China’s equivalent to the SEC. “Very often what is reported to the U.S. exchanges is different to what is reported to local China bureaus,” alfredlittle.com editor Simon Moore said via email. Local probers are said to be paid on a per-project basis based on the work, difficulty or danger involved. They get bonuses if their findings hit home.
Deserved Profits?
Alfredlittle.com doesn’t hide the fact that researchers profit from their data, including short selling the companies probed. “The reports are the product of many people’s labor and they justly deserve to profit,” Moore said.
But short sites also have critics.
“They carpet-bomb the company with allegations all over the place,” said Mitchell Nussbaum, chair of New York law firm Loeb & Loeb’s emerging-markets practice, which represents Chinese firms in the U.S. Nussbaum says if some claims haven’t been disproven it’s because SEC findings or independent probes are pending. Alfred Little, via email, defended his work: “No allegations made on the site have ever been disproven by the companies targeted.”
Little advised against investing in Chinese firms with more than one or two of 12 warning signs in a list published on blogger site seekingalpha.com. They include:
Muddy Waters founder Carson Block uses investigative techniques similar to Alfredlittle.com.
“Start with an understanding of the movement of the target company’s product or service through the supply chain,” said Block, who appears on CNBC.
Block says shady Chinese companies often create phony suppliers or customers because they know these “counterparties” aren’t going to be audited.
Case in point: Muddy Waters in February alleged that China Media Express, which sells ads in Chinese buses, had less than half the buses it said were in its network. China Media denied it. But its shares tanked, its U.S. auditor quit and Nasdaq delisted it in May.
Into this void, short-seller sites such as Alfredlittle, Citron Research and Muddywaters have seized on alleged irregularities at several firms. They include China Media Express, Deer Consumer Products and Longtop Financial Technologies. The allegations have prompted SEC investigations, delistings (including Longtop) and trading halts involving more than a dozen China-based firms since March.
IBD recently conducted email interviews with the people behind these short-seller sites. An examination of their data and techniques hints that much of what they publish may be true. Yet it’s hard to verify research in China without boots on the ground.
How do short sites gather information in a nation thousands of miles from the U.S., and can you believe what they say?
Alfredlittle.com says it uses local analysts. They are said to comb public documents in Chinese. They also pose as customers and carry out video surveillance. And they compare SEC filings with data on file at China’s equivalent to the SEC. “Very often what is reported to the U.S. exchanges is different to what is reported to local China bureaus,” alfredlittle.com editor Simon Moore said via email. Local probers are said to be paid on a per-project basis based on the work, difficulty or danger involved. They get bonuses if their findings hit home.
Deserved Profits?
Alfredlittle.com doesn’t hide the fact that researchers profit from their data, including short selling the companies probed. “The reports are the product of many people’s labor and they justly deserve to profit,” Moore said.
But short sites also have critics.
“They carpet-bomb the company with allegations all over the place,” said Mitchell Nussbaum, chair of New York law firm Loeb & Loeb’s emerging-markets practice, which represents Chinese firms in the U.S. Nussbaum says if some claims haven’t been disproven it’s because SEC findings or independent probes are pending. Alfred Little, via email, defended his work: “No allegations made on the site have ever been disproven by the companies targeted.”
Little advised against investing in Chinese firms with more than one or two of 12 warning signs in a list published on blogger site seekingalpha.com. They include:
- Reverse mergers with high short interest.
- Unnecessary dilutive share issuances when the company has excess cash or production capacity.
- Amazing revenue and earnings growth relative to peers.
- Weak balance sheets with large receivables vs. sales and unwillingness to disclose customer, distributor or supplier details.
- Weak governance indicated by high CFO and auditor turnover and lack of involvement of truly independent directors.
Muddy Waters founder Carson Block uses investigative techniques similar to Alfredlittle.com.
“Start with an understanding of the movement of the target company’s product or service through the supply chain,” said Block, who appears on CNBC.
Block says shady Chinese companies often create phony suppliers or customers because they know these “counterparties” aren’t going to be audited.
Case in point: Muddy Waters in February alleged that China Media Express, which sells ads in Chinese buses, had less than half the buses it said were in its network. China Media denied it. But its shares tanked, its U.S. auditor quit and Nasdaq delisted it in May.
Sunday, September 11, 2011
Locavesting, the Revolution in local investing and how to profit from it
My bookreview about
Locavesting, the Revolution in local investing and how to profit from it
The book Locavesting is an interesting book about alternative ways of investing. The traditional funding sources for small businesses - savings, friends and family, venture capital, and bank credit and loans - have become scarce since the financial crisis.
Today a lot of people, are buying local and eating local, but we are still not investing local. Financial markets have evolved to serve big business (corporates), at least it seems when you look to the numbers. Of all the trillions of dollars flashing through the financial markets, less than 1% goes to productive use. Meaning poviding capital to companies that will use it to hire, expand or develop new products. More than 99% of the money is sucked into trading and speculation.
Small businesses create three out of four jobs and generate half of GDP, but each year a staggering amount of subsidies, grants and tax breaks go to the most profitable and politically connected corporations with little economic or social pay off. In our 21st century financial system we can conclude that there is a massive misallocation of capital away from its most productive uses.
The book Locainvesting offers and explains new ways of investing from crowdfunding to direct public offering (DPO). Did you hear about the story of Cops&Doughnuts, nine cops in Michigan that saved a 111-year old bakery. Just read the book and act accordingly!
Another book that I didn't read but could be interesting is
Locavesting, the Revolution in local investing and how to profit from it
The book Locavesting is an interesting book about alternative ways of investing. The traditional funding sources for small businesses - savings, friends and family, venture capital, and bank credit and loans - have become scarce since the financial crisis.
Today a lot of people, are buying local and eating local, but we are still not investing local. Financial markets have evolved to serve big business (corporates), at least it seems when you look to the numbers. Of all the trillions of dollars flashing through the financial markets, less than 1% goes to productive use. Meaning poviding capital to companies that will use it to hire, expand or develop new products. More than 99% of the money is sucked into trading and speculation.
Small businesses create three out of four jobs and generate half of GDP, but each year a staggering amount of subsidies, grants and tax breaks go to the most profitable and politically connected corporations with little economic or social pay off. In our 21st century financial system we can conclude that there is a massive misallocation of capital away from its most productive uses.
The book Locainvesting offers and explains new ways of investing from crowdfunding to direct public offering (DPO). Did you hear about the story of Cops&Doughnuts, nine cops in Michigan that saved a 111-year old bakery. Just read the book and act accordingly!
Another book that I didn't read but could be interesting is
Friday, September 9, 2011
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