(13-03-2013, 11:26 AM)peterlynch Wrote: [ -> ]Yzj is the best shipbuilder in Asia now. When the industry recovers, it will rebound. The question is when?
I am definitely not able to provide good answer, since i am always poor in timing the market.
WB, the guru taught us never try to time the market, just focus on value. Hmm... May be good to follow his thought...
Does YZJ is value-for-money now? Or in other words, is it worth the money even market continue in down cycle for next few years?
Still trying to figure it out...
Came across this article through my lunchtime random googling. Essentially a wrap up of 2012 - some reflections for 2012, what YZJ did well and not so well, and 2013 outlook. It is done from a company perspective towards employees, so does offer another view. Not sure if this is stale (sorry if it is) and also it is in Chinese. Still a good read.
http://www.yzjship.com/en_newsinf.asp?id=914
Sold all my Yzj shares. There are better buys elsewhere Yzj is too uncertain. No margin for safety. Cannot value this company now as profit and revenue keeps dropping and will continue to drop with the shipping industry.
(18-03-2013, 01:12 PM)FatBoi Wrote: [ -> ]Came across this article through my lunchtime random googling. Essentially a wrap up of 2012 - some reflections for 2012, what YZJ did well and not so well, and 2013 outlook. It is done from a company perspective towards employees, so does offer another view. Not sure if this is stale (sorry if it is) and also it is in Chinese. Still a good read.
http://www.yzjship.com/en_newsinf.asp?id=914
A good article, and give comprehensive overview of the company strategy. It is consistent with the strategy defined in its ARs.
Thanks for the sharing
Well, continue to look at this stock... closely
If YZJ was so bad, why did Citi subscribe to the warrants with a Strike Price at $1.50
(19-03-2013, 04:52 PM)propertyinvestor Wrote: [ -> ]If YZJ was so bad, why did Citi subscribe to the warrants with a Strike Price at $1.50
Citi also had a position in subprime mortgage and we knew the fate of the subprime mortgage. So we should not read too much on its position in YZJ warrants.
Having said so, i do agree YZJ might be a good stock to enter, but must with a right price
I remembered citi has 20% in berlian laju before the company went to war with chapter 13.
however it could be custody rather than ownership.
(19-03-2013, 05:05 PM)CityFarmer Wrote: [ -> ] (19-03-2013, 04:52 PM)propertyinvestor Wrote: [ -> ]If YZJ was so bad, why did Citi subscribe to the warrants with a Strike Price at $1.50
Citi also had a position in subprime mortgage and we knew the fate of the subprime mortgage. So we should not read too much on its position in YZJ warrants.
Having said so, i do agree YZJ might be a good stock to enter, but must with a right price
Included in the warrant agreement is the lock up period where the SSH of YZJ will not be able to sell or dispose their shares for the next 180 days starting frm 15th Feb.
I think its quite likely that the market should see some big movement in YZJ share price soon.
More analyst report on CHINESE YARDS, with rating UNDERWEIGHT
The share price performances of COSCO Corp (Singapore) and Yangzijiang Shipbuilding (YZJ) have been uninspiring in recent history.
COSCO’s share price has fallen by about 21% in the past one year, while YZJ’s has decreased by about 25%. We believe this is mainly due to a lack of positive catalysts amidst the difficult operating environment in China. The shipbuilding industry still faces an oversupply of vessels and excess yard capacity in the country. In terms of offshore projects, Chinese yards still lack the established track records of their Asian competitors, but their organization, efficiency and sophistication are on the rise.
http://remisiers.org/cms_images/research...08-OIR.pdf
thanks CityFarmer for the sharing. I drew a few positives from the report. 1) Chinese yards are making progress along the learning curve for building offshore units. 2) despite sector being underweight, no sell but hold recommendations for Cosco and YZJ, n fair values quoted are near if not match current market prices, 3) china policy supports the growth in this sector.
Possibly do well to have a position in the best performer of a down sector and if we believe this is cyclical, the rising tide will come.
worth noting that YzJ is trading at P/B 1.1 or 1.2, which is 08/09 low. Ms Teh Hooi Ling had an excellent article on buying stocks when it's PB is low.