CHINA FIBRETECH- NET CASH .NAV : 22c . Cash : RMB 437million

what i meant was even during that time , china fibretech held on to it's value at 26c while others plunged .


So someday this gem must go back to it's NAV price at least

every gem is in the eye of the beholder and there are so many gems claimed in this forum.

it is like a beauty contest...

China fibretech still under heavy accumulation at 3c

depends on which side u r looking at, fr buyer side is accumulation, fr the seller side looks like force selling at such low price!

Do read up again on that article for china fibretech in may 2013 AGM... many questions asked and answered...

After the management and board had engaged the shareholders' concerns (with mixed success), someone spoke up, saying he was a new shareholder, adding: "I've seen hundreds of companies, many of them from China. I'm a professional investor and have been in the market for 30 years.

"What drew me to the company is its conservatism. I accept that cash, share buybacks and dividends are a key consideration for shareholders but if the management doesn't run the company well, those become secondary. After analysing this company, I realise this management understands business cycles. What I read in the prospects section of the annual report indicates that the trend has turned positive. Can we look forward to the company going back to where it was at its IPO in 2008?"


China Fibretech chairman & CEO Wu Xinhua. He owns 50.4% of the company. Photo: annual reportWu Xinhua, the executive chairman and CEO of China Fibretech, which provides dyeing and treatment services that impart special functionalities such as water-resistance and UV-protection to fabrics, replied in Mandarin: "Thank you for appreciating the company.

"I see a pickup in business and expect it to continue for the next three years. But it will be difficult to go back up to the peak achieved during our IPO as there are structural changes in the economy -- manufacturing costs have gone up a lot, GDP growth is slower, and manufacturing competitiveness is not as strong as before.

A structural change that could work in China Fibretech's favour is China's tightening on environmental pollution.

Said Mr Wu: "The local authority is not issuing new licences for this industry and existing operators have to comply with more stringent anti-pollution regulations. Many small ones will be weeded out and this will be beneficial to our company."

Commenting on the company's FY12 results, Lim Yoke Hean, currently the CEO of Pheim Asset Management, who became an independent director of China Fibretech in July 2012, noted that revenue had gone down last year (by 63.5% to RMB 48.6 million) but the net loss (RMB 11.6 million) was not a big one and the operating cashflow was in fact positive.

"It's quite a big achievement," he said.