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Stock With Momentum: Xidelang Holdings
by Cals Fri 10 Jul 2015, 17:57
Stock With Momentum: Xidelang Holdings
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By Asia Analytica / The Edge Financial Daily | July 10, 2015 : 10:32 AM MYT
[size=14]Xidelang Holdings Ltd ([You must be registered and logged in to see this image.] Financial Dashboard) (-ve)
Shares of Xidelang (Fundamental: 1.3/3, Valuation: 1.5/3) saw higher trading activity since June 1, after Bursa approved its proposed 1-for-3 bonus issue of warrants. The stock has since risen 40.8% to 14.5 sen yesterday.
The 3-year warrants, which carry an exercise price of 11.5 sen with conversion ratio of 1:1, went “ex” last Monday. All 440.64 million warrants were listed yesterday.
The China-based sports apparels manufacturer has net cash of CNY526 million (about RM321.5 million) at end-March. Last year, it made CNY1.89 million in interest income or a yield of only 0.47%, on average cash level of CNY403.89 million. No dividend was paid since July 2013.
Of note, its major shareholder cum managing director, Ding PengPeng, has pared his stake to 34.04% as at June 25, from 51.18% as at April 27.
For 1Q2015, revenue fell 16% to CNY102.5 million while net profit slumped 71% y-o-y to CNY4.0 million — the fifth consecutive y-o-y fall in quarterly profit.
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This article first appeared in The Edge Financial Daily, on July 10, 2015.
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[You must be registered and logged in to see this image.]
By Asia Analytica / The Edge Financial Daily | July 10, 2015 : 10:32 AM MYT
[size=14]Xidelang Holdings Ltd ([You must be registered and logged in to see this image.] Financial Dashboard) (-ve)
Shares of Xidelang (Fundamental: 1.3/3, Valuation: 1.5/3) saw higher trading activity since June 1, after Bursa approved its proposed 1-for-3 bonus issue of warrants. The stock has since risen 40.8% to 14.5 sen yesterday.
The 3-year warrants, which carry an exercise price of 11.5 sen with conversion ratio of 1:1, went “ex” last Monday. All 440.64 million warrants were listed yesterday.
The China-based sports apparels manufacturer has net cash of CNY526 million (about RM321.5 million) at end-March. Last year, it made CNY1.89 million in interest income or a yield of only 0.47%, on average cash level of CNY403.89 million. No dividend was paid since July 2013.
Of note, its major shareholder cum managing director, Ding PengPeng, has pared his stake to 34.04% as at June 25, from 51.18% as at April 27.
For 1Q2015, revenue fell 16% to CNY102.5 million while net profit slumped 71% y-o-y to CNY4.0 million — the fifth consecutive y-o-y fall in quarterly profit.
[You must be registered and logged in to see this image.]
This article first appeared in The Edge Financial Daily, on July 10, 2015.
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