Sino Grandness

Based on wantwant IPO's prospectus. https://www.quamnet.com/media/IPO/0151_prospectus_e.pdf , on pg 7, for their IPO, Wantwant stated that they commissioned ACnielsen to do a market survey data and they also use public information from euromonitor in their submission.

just to add on.

(23-03-2015, 01:52 PM)trade4life Wrote: Based on wantwant IPO's prospectus. https://www.quamnet.com/media/IPO/0151_prospectus_e.pdf , on pg 7, for their IPO, Wantwant stated that they commissioned ACnielsen to do a market survey data and they also use public information from euromonitor in their submission.

just to add on.

Thank you Trade4life for the link. The page number is incorrect.
I did a quick scan on the pdf file and found the info on at Page 48.

Anyway, it makes sense to me now. Huat ah. Thank you again.

vested small small, thinking of adding more.

Sino Grandness at 92nd 全国糖酒会 (national F&B trade exhibition) in Chengdu from 22 - 26 Mar 2015

There are 2 exhibitions a year, during spring and autumn. The spring exhibition has the most crowd.

Watch Sino Grandness interview at the 2014 90th trade exhibition 鲜绿园集团2014年第90届成都糖酒会高层采访at:http://v.youku.com/v_show/id_XNjk0NDM1NzIw.html

The trade exhibition website at: http://www.tjhcn.com/

New distributorships and orders are made at this trade exhibition each time and hopefully some good news coming up.












Sino Grandness units are

Finally, the Thai investors bought 850,000 Sino Grandness shares on 24 Mar for 28.5c per share.

This demonstrates Thais' confidence in Sino.

(26-03-2015, 08:15 PM)Young Investor Wrote: Finally, the Thai investors bought 850,000 Sino Grandness shares on 24 Mar for 28.5c per share.

This demonstrates Thais' confidence in Sino.

Long time coming!

If company is a fraud why continue to buy? Thai's must be damn stupid or they have too much money to burn.
Sigh.

(26-03-2015, 11:51 PM)Wildreamz Wrote:

(26-03-2015, 08:15 PM)Young Investor Wrote: Finally, the Thai investors bought 850,000 Sino Grandness shares on 24 Mar for 28.5c per share.

This demonstrates Thais' confidence in Sino.

Long time coming!

Hi Wildreams

Good developments. Bought more today at 30cts. Very good that the Thais bought from the open market. It jolly well gives me more confidence as well. Looking forward to the IPO. Hope it turns out well. Wondering what the IPO price will be for Garden fresh and what the stock value of Sino Grandness will be by then. Understand the valuation of F&B business in Hong Kong is around 16 to 25x. Oldman agak agak only. Does anyone know? Can Garden Fresh fetch such a valuation?

By the way, an old friend of mine from Hong Kong told me that he has tasted the lo quat juice and loved it. It seems there are two types of Garden fresh juices sold at Wellcome stores.

I read somewhere (oldman forgot where I read from), that management will give special dividend to shareholders once IPO goes through. Anyone knows how much will be given? And normally how soon will such dividends be paid?

Many thanks.

Oldman9

(27-03-2015, 12:57 PM)Oldman9 Wrote: .............. Looking forward to the IPO. Hope it turns out well. Wondering what the IPO price will be for Garden fresh and what the stock value of Sino Grandness will be by then. Understand the valuation of F&B business in Hong Kong is around 16 to 25x. Oldman agak agak only. Does anyone know? Can Garden Fresh fetch such a valuation?

I read somewhere (oldman forgot where I read from), that management will give special dividend to shareholders once IPO goes through. Anyone knows how much will be given? And normally how soon will such dividends be paid?

It may not be realistic to hope for a bumper special dividend and other benefits that may come with a successful IPO of Garden Fresh.

Sino Grandness is making no such assumption, and has been preparing for the contingency that bondholders want to cash out if Garden Fresh fails to get listed soon.

Sino is talking to international banks to borrow more to meet possible bond redemption. (On 31 Jan 15, it had RMB 300m in cash and RMB 150m untapped credit lines from PRC banks.)

Bondholders are entitled to RMB 650m if no application for listing is submitted. Otherwise, the amount will reduce to RMB 580m.

Sino's 2014 profit was much higher than the reported RMB 233m. This reported profit was the result of deducting three one-off items:
(1) non-cash penalty interest expenses (RMB 206m) related to convertible bonds,
(2) non-cash changes in fair value of option derivatives (RMB 112m) related to convertible bonds, and
(3) cash penalty interest (RMB 17m) paid to holders who redeemed 19.5m bonds in Oct 14.

2014 profit was therefore RMB 468m after adding back the three one-off items.

This profit should enable Sino to borrow RMB 300m, say, to redeem all convertible bonds.

Combined borrowings of RMB 504m (existing RMB 54m + untapped RMB 150m from PRC banks + RMB 300m from international banks) are not excessive in relation to equity of RMB 1,576m, as gearing is just 32% (compared with Huiyuan's 41%).

The RMB 468m profit amounts to an EPS of 15 S'pore cents. Alongside the 51-S'pore cent NAV, the current 31c share price is undemanding.

A successful IPO of Garden Fresh is a bonus. A failed attempt would not spell doom because Sino has planned for such contingency.

Thai investors bought another 640 lots at 29c each on 26 Mar.

I thought Sino is confident of listing of Garden Fresh. If the listing goes thru, bondholders will receive shares in Garden Fresh and will forego RMB 650m.  Yet Sino is trying to borrow money from international banks to have RMB 650m to pay off bondholders. 

Is the company over-conservative? 

(29-03-2015, 09:09 AM)Young Investor Wrote: Thai investors bought another 640 lots at 29c each on 26 Mar.

I thought Sino is confident of listing of Garden Fresh. If the listing goes thru, bondholders will receive shares in Garden Fresh and will forego RMB 650m.  Yet Sino is trying to borrow money from international banks to have RMB 650m to pay off bondholders. 

Is the company over-conservative? 

Well, I think Sino Grandness is very prudent, planning for the worst case of the Rmb 650m bond redemption..

In my opinion, companies who plan for the worst, usually does well.

The outcome may turn out to be better if they submit the application for listing. The redemption amount will be Rmb 580m instead of Rmb 650m..and bond holder may even roll over their bond to wait for the listing if delay is only couple of weeks to get a stake in the higher valued Garden Fresh.