Value Stock - 成謙聲匯(2728)
Current price: $0.9
Issued shares: 330M
Market Cap: 297.5M
NAV: $0.875
PE: 5.24
1/PE: 19.1%
Yield: 5.89%
Net Cash: 150M ($0.45 per share 50% to share price)
Debt to equity ratio: 5.3%
ROE: 19%
Interim EPS growh: +48%
Interim operating cash flow: +66M ($0.2 per share)
Risk:
Rather short history.
Another un-certainty is the placement of shares at early March to finance $20m, from its strong cash position, it does not need to finance extra cash from placement of new shares.
*PS - High chance to become David Webb's X'mas pick this year! However, value stock doesn't mean it will rise! Beware of small-cap risk and volatility risk!
15 comments:
中期業績上升係因為上年度一次性問題, 今年實際收入只係輕微增長。
你買入係因為NAV?
The growth just for reference, a bit misleading here...sorry!
Never come from a single factor.
Only look at NAV is meaningless!
wing, #656 being looked down by ML.
is it a chance ?
Market dislike 綜合企業
many choices....don't just focus on that one.
ivan哥此言差矣
2728可能升的原因是因為"國壽、平保、財險現象"，國壽和平保等龍頭一齊升，然後財險後上，但升幅更急。這個現象可見於1072,1133,2727或941,網通和中電信。2728炒的是此現象的重複，香港的聲樂類毛利較差的一隻，成個行業增長緊...，所以2728可能會成為盈利升得最快的一隻...令股價急升，等2038,2018和927升夠就輪到它，可能升得比前述三隻更急。
還有的是2728好像業績連續兩三年上升，派息還可以，其實也可以是一隻不錯的cigar butts或是growth stock.
前述的配股是配股給兩個基金，每個基金約13,500,000股，共27,000,000，然後這兩個基金又接下一名少數股東(即上實科技，上市時其中一個的策略投資者，其二為周大福)的14,500,000股，是不是因為市場只得90,000,000股，它們根本買不夠貨?
或是大股東不想發債(覺得股票只值這個價錢或是不知道發債好過發股)?
現金是每股五毛錢...即我們只用1.5億買下這盤每年賺5,000-6,000萬元的生意，真便宜...兩三年就回本。
還有這家公司三年換到兩名公司祕書....是不是人工太低?
找回招股書中的數據，由二零零二年至今年，只有一年倒退，那年亦是不太景氣的一年，正常，派息年年都有，現金量無不良情況，公司營運應該OK，穩步地上升
上實基金的成本價為0.7元，0.75元賣出加收入0.068元股息，只得0.818元，即一年半間的投資回報約16%，compound後一年的回報約10%，尚算可以，可能國內有更佳的投資機會，所以，我認為是大股東財技拙劣有關，不過財技拙劣都有好處，間公司營運得還可以，即大股東都有積極營運業務，可能他認為有多點現金好吧。
You should look at its annual report, the largest customer - Logitech accounts for more than 70% of turnover of the group, it means very high concentration risk! The results for 2H07 will be very bad if the company produces low quality products that do not meet the specification of that customer. Also, the margin would be squeezed very easily by that big customer. Its segmental information is rather difficult to be understood by our general public.
buying 927 or 2018 is better than 2728 as they have better management!
concentration risk 依樣野真係唔講得少, 不過真係幾平
2728 一定是幾家最低端的，sector information可以用google search 到的。927 都幾危險的呀..年報據報有最大客戶34%...即5個億，2018業績倒退...無得講...只不過2728 Size較細，最危險是應收帳有成三個億，資本得兩點幾億...不過都要博一博，因為今年年中話有新廠，營收有望上升...
their existing factory in Dongguan is 來料加工, may need to close or reallocate in near future. for new factory, just blowing water. the articles just said "just think abt it"!
new factory, never implemented! 重来没有落实!
the share of this company just bought and sold by the chairman repeatedly.
你好似好熟...是不是在那兒做?
我在公告也找不到那些資料..
在2007半年報找到...
東莞個新廠在今年5月運作(p.4)
你那些資料如何來的呀，難道這家公司騙人?騙人可是要.....
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