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Stock With Momentum: China Automobile Parts Hld
by Cals Thu 21 May 2015, 22:35
Stock With Momentum: China Automobile Parts Hld
CHINA AUTOMOBILE PARTS HLD LTD ([You must be registered and logged in to see this image.] Financial Dashboard) (+ve)
SHARE price of CAP (Fundamental: 1.95/3, Valuation: 1.8/3) jumped 38.9% over the past three trading days to close at 50 sen yesterday.
Last Friday, the company announced that Siburan Resources Ltd (SBU) has entered into a conditional binding heads of agreement to acquire 16.67% stake in CAP from its major shareholder GuoTai International Holdings Ltd, for RM60 million or 60 sen per share.
The acquisition will be satisfied by the issuance of 417.36 million shares or 62.5% stake in SBU, an Australian-based tungsten exploration company, to GuoTai at an issue price of AUD0.05 per share.
Based in Jinjiang City, China, CAP manufactures chassis components, including u-bolts, steel pins, wheel axles, torque-rod bushings and wheel-hub bolts.
For 2014, revenue fell by 7.5% y-o-y to CNY728.3 million, while net profit declined 3.4% to CNY136.6 million, mainly attributed to lower selling prices.
The stock trades at a trailing 12-month P/E of 3.4 times and 0.61 times book.
[You must be registered and logged in to see this image.]
This article first appeared in The Edge Financial Daily, on May 21, 2015.
CHINA AUTOMOBILE PARTS HLD LTD ([You must be registered and logged in to see this image.] Financial Dashboard) (+ve)
SHARE price of CAP (Fundamental: 1.95/3, Valuation: 1.8/3) jumped 38.9% over the past three trading days to close at 50 sen yesterday.
Last Friday, the company announced that Siburan Resources Ltd (SBU) has entered into a conditional binding heads of agreement to acquire 16.67% stake in CAP from its major shareholder GuoTai International Holdings Ltd, for RM60 million or 60 sen per share.
The acquisition will be satisfied by the issuance of 417.36 million shares or 62.5% stake in SBU, an Australian-based tungsten exploration company, to GuoTai at an issue price of AUD0.05 per share.
Based in Jinjiang City, China, CAP manufactures chassis components, including u-bolts, steel pins, wheel axles, torque-rod bushings and wheel-hub bolts.
For 2014, revenue fell by 7.5% y-o-y to CNY728.3 million, while net profit declined 3.4% to CNY136.6 million, mainly attributed to lower selling prices.
The stock trades at a trailing 12-month P/E of 3.4 times and 0.61 times book.
[You must be registered and logged in to see this image.]
This article first appeared in The Edge Financial Daily, on May 21, 2015.
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