ZIWO Holding Ltd - What Happens to this counter

Dear fellow frens,
will like to seek , anyone knows what happen to this counter -ZIWO Holding ? The price had been going down & down since Jan 11 . I remember reading some report from UOB recommending to to Buy with TP at $0.50 or ).55 . After buying this counter, it never goes up at all.
Any one can give some comments about this counter ? According to SGX website, it defer the TWR listing due to market sentiments not so good now. I think there might have some other reason to contribute for the downtrent. Hope some of you can share your view about this counter.
Thanks !
Marko
   
 

Ziwo has fallen 45% in year to date --- very sharp fall indeed - from 40 cents to 22 cents.
The 1Q result has been so-so, with net profit up 4.9%, at RMB20 million, or S$4 m.

Group’s gross profit margin decreased by 2.9 percentage points to 26.3%. This was due mainly to the increased in raw material prices.

If the 1Q earnings are annualised, the PE for this year is about 4X, which is cheap.
Well, but which S-chip is not cheap?

Hello Markor, re my posting below:

I have just realised it's not quite right to assume 1Q earnings X 4 for the year's result.
Typically for Ziwo and many other China companies *(and SG companies), the 1Q is the slowest, becos of production shutdown/slowdown as a result ofthe Chinese New Yr). The best quarter, on the other hand, tends to be 4Q, fyi.

Hello Cheongwee, if the earnings of Ziwo are real, then this is a gem, maybe even better than yr Foreland.

Something nice going on with this counter. Very high volume this morning and stock is on the rise. 26 cents now.