Any guys invested in this gem?
QINGMEI GROUP is a S-chip which has attracted the buying of an Australian fund. Qingmei is a manufacturer of high-end sports shoe soles, and is based in Jinjiang City in Fujian Province. It listed on the Singapore Exchange in March 2010 at 31 cents a share. Australian fund Hunter Hall Investment Management Limited has just emerged as a new substantial shareholder with the purchase of 9 million shares at 34.02 cents apiece on Jan 19. It now holds 40 million shares, or a 6.25% stake.[/i]
Low pe of 4.3 now at current price 0.33
Still an unknown stock. No analyst coverage, no Next-insight coverage. No investor relations high profile yet. No clear trend of upward earnings, - only expansion of production capacity. Who has strong insights beyond paper analysis? Anyone met CFO & management?
Qingmei has come alive! Sigh.. Didn't manage to get it. Was 32.5 a few days back and was queuing in vain. Nonetheless good judgement observer2 and hope many of u got the stock a few days and since new year last 15 days, u still have a good hongbao
Qingmei has released its 2Q11 results [Sep – Dec 2010] – flat as expected as its production capacity was at maximum. Revenue: 1Q 11 – RMB 304 million; 2Q11 – RMB 304 million Nett Profits: 1Q11 – RMB 71.5 million; 2Q11 – RMB 66.4 million EPS: 1Q11 – 11.1 cts(RMB); 2Q11 – 10.4 cts(RMB) EPS for 1H11 = 21.5 cts (RMB)
As 2H11 results can be expected to be better because of the production capacity expansion, Qingmei’s EPS for the full year should be over 43 cts(RMB) or 8.6 cts(S).
With 30% of the nett profits to be given out as dividend, shareholders can expect to receive at least a payment of 2.58 cts(S).
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