sino grandness - undervalued stock

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9 years 4 months ago #22297 by BNN
Convertible bond 1 was supposed to mature June 30. Holder asked for extension maturity date to July 25. It's just 3 weeks+.

Question is why extend and why July 25? Can anyone share his views?

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9 years 4 months ago #22304 by BNN
The Thais are proving to be genuine believers in Sino Grandness. They bought another 300,000 shares of Sino Grandness at 34 cents on 29 June.

infopub.sgx.com/FileOpen/_eFORM1V2_CM_29...cement&FileID=358018

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9 years 3 months ago #22307 by Joes
'Cracker' @ Valuebuddies.com makes good sense but then again we all don't know everything:

I feel the extension simply leaves us none the wiser. 2 important issues that this binary event was meant to reveal are still not resolved as a result of the extension.

1. Does the company really have the cash and cash-flow?

2. Does the company have any genuine intention to IPO? (Presumably IF the Newman9 allegations are valid, it wouldn't dare to given the criminal liability? Then again you never know - history has shown us s-chips like China Gaoxian successfully achieving a dual listing in South Korea but then not long after the dual listing it was suspended and proven to be a fraud. So even a successful IPO is not a full-proof thing.)

Because of the extension, there is still no clear answer to these 2 questions.

Company could have told bondholders 'give us more time, we are still preparing to IPO, if you redeem your shares now you will lose out.' Come 25th July, it is perfectly possible that they could tow the same line and get it further extended. Of course if they keep doing that there will come a time where patience and limits are truly tested, and push comes to shove, and then perhaps only then will we truly know.

I think the best scenario for shareholders would be if come July 25th, company chooses to pay back bondholders for most of the bonds, and only allows them to convert a small%. This retains some institutional ownership, reduces dilution, but most importantly, proves that they have the cash to pay back. Cash doesn't lie - if they can pay back that few hundred million, their business is probably real. But until and unless that happens, we cannot know for sure.

Personally I've recently been to Sichuan, Zhejiang, Fujian and Shanghai and couldn't find 鲜绿园 being sold in any of the supermarkets or small convenience stores. I had better luck in Shenzhen, where I found it in quite a few major supermarkets and many 7 Eleven stores. But then again, Shenzhen is supposed to be their home-ground so you would expect that. I would have thought that for a juice brand supposedly achieving their sales volume, their products would have been more widely found outside of Shenzhen. Instead, I found it much easier to find their major competitor of similar reported sales volume - 纯果乐 - which I believe is a collaboration between Tingyi and Pepsi Cola. It's everywhere.

Anyway, what do I know? Just sharing my thoughts on the company and experience in China. Make of it what you will. Personally I feel the risk is too high and that there is too much uncertainty. But to all who decide to take the risk, good luck to you.

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9 years 3 months ago - 9 years 3 months ago #22332 by Poh
Still your mind n let belief into your heart. Some enterprising investor (Leeta) has shared the link to a new corporate video on Sino Grandness. Mind-blowing.

v.qq.com/page/r/1/c/r0157w3vk1c.html
Last edit: 9 years 3 months ago by Poh.

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9 years 2 months ago #22401 by min1xyz
@ 2Q results briefing today @ Standard Chartered Building. CEO in good mood.



First time, this variant (loquat kumquat) has been brought over to a results briefing for attendees to enjoy..
Recently launched product.

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9 years 2 months ago #22429 by Poh
Wow, Thais are scooping up shares, may laugh all the way to the bank!

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