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Oh my, it reported a loss for the quarter.......most unexpected

Luckily I had already cash out

Yup its really a surprise to me, that SFIG posted such a big reversal. Even if we are to strip out finance and admin cost, it is still a very poor result. It is about half less than 4Q 2013 result. Its receivables has decreased but not as quickly as its revenue, which I don't think is a good sign. It is true a deeper analysis of its receivables is necessary.

It is a possible investment mistake to me, but I will see the performance over the next 1-2 quarter before deciding

What is the "Change in fair value of the option derivatives in relation to convrtable bond" on their latest statement?can any value buddy advise?thanks

It is the value of the convertible bonds that has to be paid soon. SFIG adds the interest expense into the b/s each year if i rmb correctly. It is surprising that the company decided to restate their finance cost over the past two full FYs to reflect the convertible bond finance expense. It is like a subtle action telling me they are considering to pay bondholders instead of IPO

Upon deeper analysis of the company revenue (actually it is found on page 9), its canned products for overseas consumption reduced drastically, while the growth rate of Garden Fresh beverage has slowed and even decreased slightly if comparing from previous quarter, full year revenue of Garden Fresh is only RMB 1.87B. It will be interesting to see the profitability of Garden Fresh over the full year if the finance cost of convertible bonds are factored in. Again I am hoping for an IPO announcement, which looks to be less likely with each passing day

(28-02-2015, 01:53 PM)CY09 Wrote: It is the value of the convertible bonds that has to be paid soon. SFIG adds the interest expense into the b/s each year if i rmb correctly. It is surprising that the company decided to restate their finance cost over the past two full FYs to reflect the convertible bond finance expense. It is like a subtle action telling me they are considering to pay bondholders instead of IPO

Upon deeper analysis of the company revenue (actually it is found on page 9), its canned products for overseas consumption reduced drastically, while the growth rate of Garden Fresh beverage has slowed and even decreased slightly if comparing from previous quarter, full year revenue of Garden Fresh is only RMB 1.87B. It will be interesting to see the profitability of Garden Fresh over the full year if the finance cost of convertible bonds are factored in. Again I am hoping for an IPO announcement, which looks to be less likely with each passing day

If you take a look at 3rd Qtr, the revenue was exceptional . could it that orders were placed late 3rd Q and hence less orders placed during 4th Q? YoY growth is still there @ 35.8% and GPM has increased as well for this Qtr.

Will digest more from the rpt.

leeeta Wrote:If you take a look at 3rd Qtr, the revenue was exceptional . could it that orders were placed late 3rd Q and hence less orders placed during 4th Q? YoY growth is still there @ 35.8% and GPM has increased as well for this Qtr. Will digest more from the rpt.

Is there evidence of "channel stuffing" during Q3 and the quarters before Q4 ?

Could it be that such a feat could not be replicated again and again ?

As paper cannot hold fire , eventually the smoke and fire have to be let out . Just a conjecture . Pls correct if wrong .

Tks

I afraid the worst thing is happening.... Please refer to the last few moments of eratat before i gone burst.....

Faith is what u need for s-chip....

Although beverage sales were much lower in 4Q 14 than the preceding quarter for the probable reason given by Leeeta, one should note that beverage 4Q gpm of 46.5% was very high in comparison with the 42% of the first 9 months. This is the result of a higher proportion of beverage being produced in-house after the new beverage Hubei factory started operation in Oct 14.

GPM 40+%?? Looks like everyone gonnna be selling loquat juice soon :-D

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