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28-07-2012, 12:39 AM
Hi Swinger,
Seems like they dont have funding problem as their cash is more than the loan need to repay within a year....
Reply from their IR when I ask about the recent power failure incident....
Interest bearing bank and other loans only, as at 31 December 2011, around RMB321,514,000 will be due within one year or on demand and around RMB101,200,000 will be due in the second year to fifth years (inclusive).
Meanwhile, as at 31 December 2011, cash and cash equivalents of the Company amounted to RMB946,830,000. The financial condition of the Company is healthy, and is not facing any financing issue. Despite the recent unfavourable incidents and market condition, China VTM is well prepared to face challenges and will continue to make its greatest effort for the Company’s growth in the future.
Seems like they dont have funding problem as their cash is more than the loan need to repay within a year....
Reply from their IR when I ask about the recent power failure incident....
Interest bearing bank and other loans only, as at 31 December 2011, around RMB321,514,000 will be due within one year or on demand and around RMB101,200,000 will be due in the second year to fifth years (inclusive).
Meanwhile, as at 31 December 2011, cash and cash equivalents of the Company amounted to RMB946,830,000. The financial condition of the Company is healthy, and is not facing any financing issue. Despite the recent unfavourable incidents and market condition, China VTM is well prepared to face challenges and will continue to make its greatest effort for the Company’s growth in the future.
(25-07-2012, 10:10 AM)Swinger Wrote: Have been averaging down from 2.00 down to 1.25 over 6 mths. I did based on the following:
Annual Results 2011 2010 2009 2008 2007
Net Profit (Mn) 747 640 373 281 58
EPS 0.36 0.31 0.23 0.19 0.04
Reserves (Mn) 3,016/ 2,624/2,350/539/202
Cash (Mn) 1,058/1,101 2/011/133 /11
I must be missing something here as the price is behaving like the company is involved in fraud or funding problems. I thought it save to continue to average down as Credit Suisse Group AG (10.68%) and Templeton Asset Management Ltd. (8.00%) are among the major shareholders. I'm not worried if it is due to glut or slowing down of world economy which I'm willing to ride thru. My worst fear is that the above numbers are falsified. Still contemplating averaging down slowly unless of course my suspicion came true.