Xingquan reported its earnings and this is my updated earnings table.
Despite the apparent weakness when compared on a q-q basis, where sales and earnings slumped big time, I still think it's way too early to pass judgement.
Oops... apparently the company reckons that they have done extremely well!!!!
Here is the file: Xingquan-Press Release(16.08.10)English.pdf
Sifu. The results are in line with CIMB forecasts.
ReplyDeleteNo kung fu master here. Here no movie.
ReplyDeleteThese imported PLC's can lead to no good. S'pore learnt it the hard way, I suppose KL will eat humble pie too; only at the expense of local investors, n the national interest. How can companies which r cobbled together to give illusion of good track record be anything but frauds??
ReplyDeleteIt is too early to pass judgement and I do agree with Moolah. Overall, Xingquan posted healthier profits over year ago. Above all, Xingquan has put a healthy set of accounts right in front of us plus dividend. It is the only China-man company listed which has given twice in dividend. Doctored or not, I certainly believe Xingquan will be here for the next three years (i.e. only if they are a bunch of fraudsters)
ReplyDeletech: Yes I would not pass judgement.
ReplyDeleteBUT... I feel I should add in a couple of comments.
1. Healthier profits? Would I compare current profits with Pre listing profits? Are such comparison meaningful?
2. dividends. The first interim Xingquan paid was 2.5 sen. The final dividend has been proposed and the value is also the same. Total? 5 sen.
Your recent posts on TSMGlobal, Lonbic, Tomypak and Xingquan are gems, very useful and highly educational.
ReplyDeletePlease continue to give your readers more of these wonderful analysis.
When you find the time, kindly analyse Petdag.
Many thanks for sharing.
The director certainly fail their maths in school. They have almost RM300 million cash and strong cashflow and yet they can't fulfill their tiny little promise on the kiampsiap 20% dividend payout.
ReplyDeleteCome on man! They can't calculate 20% of 34 cents = 6.8 cents?! 5 cents is only 15% payout. If they didn't pay more than 20% to surprise us they should at least maintain 20%.
KIAMSIAP! KIAMSIAP! KIAMSIAP!
Unable to comprehend.
Not only revenue drop Q to Q, gross margin and net margin drop a lot too. Red flags.
bb: one of these days.. i will. :D
ReplyDelete