On 28th Feb 2012, I posted the following: China Ouhua Winery Announces Quarterly Losses. The stock was priced at 25 sen then. Few days later, the CFO quit. See More Shocking Developments At China Ouhua ( CNOUHA )
This morning, I realised that CNOUHA was trading at 10.5 sen!
The chart below shows how CNOUHA had been trading the past 6 months.
And the following chart shows how CNOUHA had been doing since its listing....
CNOUHA was priced at 0.60 for its IPO and yes, it did make a sparkling debut on Bursa Malaysia.
- Thursday November 4, 2010
China Ouhua makes sparkling debut on Bursa
KUALA LUMPUR: The first wine producer to be listed on Bursa Malaysia, China Ouhua Winery Holdings Ltd made a sparkling debut yesterday, closing 5.5 sen or 9.17% higher than the issue price of 60 sen.
The company, the fifth from China to be listed on Bursa, opened at 66 sen, with 2.8 million shares traded. It was the second most active counter yesterday with 50.7 million shares traded.
Commenting on the performance of its share price, executive chairman and chief executive officer Wang Chao said: “I trust our shareholders and investors choice to invest into the company and wish that they would have a longer-term investment horizon. We look forward to a long-term partnership with them.”
He said the listing underscored China Ouhua’s commitment to continuously enhance its products and bring favourable return to its investors.
The company had said it planned to distribute a dividend of at least 35% of its net profit for the financial year ending Dec 31, 2010.
Wang Chao said the company would expand its business after the listing exercise and it was in the process to change the operations model, enabling it to work closer with distributors and grow its brand awareness.
“We are planning to venture into Xi’an, the capital of the Shaanxi province next year, to further expand our presence in China,” he told a press conference after China Ouhua’s listing on the Main Market yesterday, adding that it had operations in 11 provinces in China.
On whether the company would venture outside of China, Wang said it would not discount the possibilities of expanding its business into other markets through appointing distributors but it preferred to concentrate in China in the medium-term due to the huge consumer market. ( Source: http://biz.thestar.com.my/news/story.asp?sec=business&file=/2010/11/4/business/7356464 )
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