China Taisan post record FY profit up 136%

 
 
•
  Revenue up 63.0% yoy to RMB1,357.4 million due to strong demand for china sportswear and higher average selling price
 
  •
Net profit up 136.3% yoy to RMB252.0 million on further margin improvements
•
 
Positive outlook for 2011 in view of robust customer demand and introduction of new capacity
 

IN NET CASH POSITION OF RMB 688.4 MILLION
ROE : 25.3%
P/E : 3.2
NAV : 21.5c
 
Look at their FY result presentation here :
 
info.sgx.com/webcoranncatth.nsf/VwAttach...2010.pdf?openelement
 
 
 
 

more good years ahead
 
Every 2-4 years there are major world sports event ..... Olympics game , Asian games , World Cup , Commonwealth games , YOG ......
 
New jerseys , new equipments to be made each time
 
Buy before CD and

China Taisan announced a final dividend of 2.27 RMB cents per ordinary share for the financial year ended 31 December 2010 --- the yield is about 2.8% based on 16 cents stock price. Not fabulous but a decent yield. Thanks Taisan!

I am reducing my weighting on China Taisan despite its cheap value and deploy the fund elsewhere.
 
Reason: Executive Director which is the key man taking care of sales and marketing has just resigned on 16th March 2011. Maybe i am too kaisu but there are plenty of cheap sales on the market. Better to be safe than sorry.

Taisan has a horrible fall this morning by 30%. What is happening? On FA, it looks fine with cash of 15 cents or so. compared with 5 cents stock pruice.