Qingmei Group Holdings

(05-11-2012, 10:13 PM)Greenrookie Wrote: http://www.chinalawedu.com/new/201209/ma...5868.shtml

If the article is true, qingmei has already stop operations for a few months and sold its machinery. The background facts about quanzhou jinzhou and the industry matches what I read earlier, so it's most prob written by someone who knows the industry. Hope no one still holding

I have read that article using google translate, yet I could not find any reference to Qingmei nor to the rumor it has sold its machinery

(24-03-2013, 01:33 PM)Gaudente Wrote:

(05-11-2012, 10:13 PM)Greenrookie Wrote: http://www.chinalawedu.com/new/201209/ma...5868.shtml

If the article is true, qingmei has already stop operations for a few months and sold its machinery. The background facts about quanzhou jinzhou and the industry matches what I read earlier, so it's most prob written by someone who knows the industry. Hope no one still holding

I have read that article using google translate, yet I could not find any reference to Qingmei nor to the rumor it has sold its machinery

It's at para 7 and 8 and also the title of article. Qingmei =清美。dun trust google translate names properly for you. It might turn up to be clear beauty

(24-03-2013, 01:33 PM)Gaudente Wrote:

(05-11-2012, 10:13 PM)Greenrookie Wrote: http://www.chinalawedu.com/new/201209/ma...5868.shtml

If the article is true, qingmei has already stop operations for a few months and sold its machinery. The background facts about quanzhou jinzhou and the industry matches what I read earlier, so it's most prob written by someone who knows the industry. Hope no one still holding

I have read that article using google translate, yet I could not find any reference to Qingmei nor to the rumor it has sold its machinery

oops ... on second thought it names " a company listed on Singapore on March 2010" so I'm afraid that's it

Reporters reach Kiyomi Industrial Park, at the gate of the park, stocked with the a shabby recruitment billboards, says a company because of business needs, relocated to the, Kiyomi Industrial Park, and the need to recruit more than 10 workers. This recruitment figures compared with the scale of the park disproportionate.

Responsible for the conservation of the park workers Xu told reporters, Kiyomi has been discontinued for several months, the company's original equipment, production lines have already sold and currently maintain operations by leasing factories and office buildings. He said, pointing at the entrance to the park four detached villas built to half told reporters, where the original business owners cover to their own lives, villas, 4 brothers one, but now it has become a barren land.

According to Xu, the industrial park just been put into operation in June last year. Company listed in Singapore in March 2010, the provincial and ministerial level officials to inspect, not think now fell on Zhefan situation. However, when a reporter asked the boss whether Paolu ", he made a negative answer, and said that" the boss from time to time wandering in the park ".

Google translate it as kiyomi... Highly risky counter, play with excess cash and excessive care

Don't use your time and energy trying to get answers. They will just quote from the annual report or quarterly report. The IR is useless. Just sell QM, sleep peacefully at night and find a better company to invest. Learn from this experience. Qingmei company is really empty. If you don't believe, take a plane there and see it for yourself. Less than $1000. U will see that no qingmei vehicles or workers are going in and out of the company premise. The worker dormitory are empty.

SALE OF SHARES BY CONTROLLING SHAREHOLDER

http://info.sgx.com/webcoranncatth.nsf/V...1002F0306/$file/Qingmei_Sale_by_Controlling_Shareholder.pdf?openelement

(Not Vested)

(nine-month period not up but so 'gan cheong' to sell)

In connection with an earlier disposal by High Crown of part of its shareholding in the Company to certain investors as set out in the announcement dated 16 November 2012, High Crown had undertaken not to dispose of its remaining shareholding in the Company for a period of nine (9) months from the date of completion of such disposal. Notwithstanding the aforesaid nine-month period has not expired, those investors have given their consents to the Disposal pursuant to the Agreement.

(07-06-2013, 05:45 PM)Nick Wrote: SALE OF SHARES BY CONTROLLING SHAREHOLDER

http://info.sgx.com/webcoranncatth.nsf/V...1002F0306/$file/Qingmei_Sale_by_Controlling_Shareholder.pdf?openelement

(Not Vested)

From latest B/S as at 31.03.2013, NAV per share is 1.48 RMB, about 0.31 sgd. More than half of the NAV is cash, so the cash per share is 0.16 sgd. Mr Su is willing to sell at 0.065 sgd. He is a "Santa Claus". Laughable.

^^ That is assuming of course the cash is real. Nonetheless an interesting case study for "value" investors who invest purely on numbers.

You must note that Qingmei is very likely to keep registering losses for the next few quarters and burning cash as well because of the oversupply of sports footwear.