02-01-2013, 04:20 PM
trading halt on 1st trading day of 2013 - probably related to missing the CB deadline...
strange thing is that share price is holding up pretty well
strange thing is that share price is holding up pretty well
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03-01-2013, 11:24 PM
trading halt will turn into trading suspension pretty soon - same pattern as the last time when CB payment was missed...same old silly reason...
04-01-2013, 06:59 PM
(03-01-2013, 11:24 PM)Underdogger Wrote: [ -> ]trading halt will turn into trading suspension pretty soon - same pattern as the last time when CB payment was missed...same old silly reason...
Hey dudes! Can't you see the positive side of this? At least the stock price isn't going down as long as it remains halted/suspended?
05-01-2013, 09:28 AM
a lot people are not reading the news at all..
even on the last 3 days of trading halt, still can see some bids at above 5 cents...
even on the last 3 days of trading halt, still can see some bids at above 5 cents...
(04-01-2013, 06:59 PM)jzk Wrote: [ -> ](03-01-2013, 11:24 PM)Underdogger Wrote: [ -> ]trading halt will turn into trading suspension pretty soon - same pattern as the last time when CB payment was missed...same old silly reason...
Hey dudes! Can't you see the positive side of this? At least the stock price isn't going down as long as it remains halted/suspended?
07-01-2013, 09:52 AM
resumed trading...
basically, company has no cash to pay up their 3rd redemption to bondholders, and is asking for extension...
basically, company has no cash to pay up their 3rd redemption to bondholders, and is asking for extension...
24-01-2013, 05:04 PM
back down to 3 cents again....strong likelihood of belly up if company cannot get back their A/R or if most of the ARs are already "rotten"....
28-01-2013, 08:34 PM
this has put the nail in the coffin for China Essence...
*******
The Board of Directors of China Essence Group Ltd (the “Company”, or together with its subsidiaries,
the “Group”) wishes to announce that the Group expects to register a net loss for the third quarter
ended 31 December 2012 in the financial year ending 31 March 2013 (“3Q FY13”). The Group
expects an adverse impact on profit margin for the quarter as the operating environment remained
challenging for the potato starch industry in People’s Republic of China (“PRC”).
In its second quarter for the financial year ending 31 March 2012 (“2Q FY12”) results announcement
dated 8 November 2011, the Group reported that the price of potatoes fell sharply in the second half
of September 2011 due to a supply glut, causing the market price of potato starch to follow suit.
Despite a moderate increase in potato prices since 2Q FY12, the price of potato starch remained
disproportionately low. This continued to cause a squeeze on the Group’s profit margin for 3Q FY13.
In addition, the severe weather in the Northeast of China has affected the Group’s potato stock. As a
result of the unexpectedly cold climate this winter season, the Group’s potato stock yielded a lesser
amount of starch. Besides, some of the potato stock was damaged by the same reason and no longer
suitable for further process, the Group sold all these damaged potato at scrap price. This has added
further pressure on the Group’s profit margin for 3Q FY13.
*******
The Board of Directors of China Essence Group Ltd (the “Company”, or together with its subsidiaries,
the “Group”) wishes to announce that the Group expects to register a net loss for the third quarter
ended 31 December 2012 in the financial year ending 31 March 2013 (“3Q FY13”). The Group
expects an adverse impact on profit margin for the quarter as the operating environment remained
challenging for the potato starch industry in People’s Republic of China (“PRC”).
In its second quarter for the financial year ending 31 March 2012 (“2Q FY12”) results announcement
dated 8 November 2011, the Group reported that the price of potatoes fell sharply in the second half
of September 2011 due to a supply glut, causing the market price of potato starch to follow suit.
Despite a moderate increase in potato prices since 2Q FY12, the price of potato starch remained
disproportionately low. This continued to cause a squeeze on the Group’s profit margin for 3Q FY13.
In addition, the severe weather in the Northeast of China has affected the Group’s potato stock. As a
result of the unexpectedly cold climate this winter season, the Group’s potato stock yielded a lesser
amount of starch. Besides, some of the potato stock was damaged by the same reason and no longer
suitable for further process, the Group sold all these damaged potato at scrap price. This has added
further pressure on the Group’s profit margin for 3Q FY13.
29-01-2013, 09:50 AM
think the market is already pricing in the possibility of essence going under.
if it has no hard cash to start the next season with bondholders and DBS hot on its heel, then it is definitely going under within the year...
if it has no hard cash to start the next season with bondholders and DBS hot on its heel, then it is definitely going under within the year...
29-01-2013, 10:37 PM
Today trading not so bad. Seems to have people interested in the stock. Does it mean they are speculating or really some good news coming later?
31-01-2013, 11:13 PM
(29-01-2013, 10:37 PM)happyharvest Wrote: [ -> ]Today trading not so bad. Seems to have people interested in the stock. Does it mean they are speculating or really some good news coming later?
White Knight? I dont think so...
company is on the brink of collapse...