Sino Grandness

[chinafarmer]

Loquat results showed trade and other receivables skyrocketing to 1.4 billion RMB.

[sugarfox]

based on textbook methods, 365 is a norm.

good point on the 9 months sales context. It should be prorated too.

[Wildreamz]

I notice there r many fans of SinoG in this thread, so my expression may not find favour here.
If you travel frequently to China (whether on business or holiday), do observe what the locals drink. During summer, local beer is no.1. It cost less than carbonated drinks and much less than juice products the like of SinoG.
During winter it is chinese yellow wine & white wine. It is difficult to support any claim that Loquat Juice is popular with the locals due to high selling price, albeit it medicinal attributes. How about Foreigners taking to Loquat Juice - to me it is difficult to believe too.
To fans of SinoG, please do not feel offended. It is just a personal observation. I honestly believe the disproportionate high sales of SinoG vs bigger competitors is questionable.
I am not vested.

Thanks for contributing.

While there are merits to what you say, I find that alcoholic drink ultimately is not a direct competition to fruit juice. It serves a completely different market segment (male adult, not health conscious etc).

[Arowana]

Please read the forum in sharejunction, very professional one . They are doing forensic on the latest Sinograndness report. Some forum-ers analyze the stated profits, AR and FCF and link them to a possibility of overstating sales .

Beware what you read at sharejunction... loads of self-serving individuals... eg. paint a negative picture of a stock and short it like crazy..... or vice versa....

Thank you very much kye_lin. I have sold all shares on the day after I attended the lunch meeting with CEO/CFO/ and IR-VP when they flew here to assure investor of Newsman9 report. I sold all share for 2 reasons:
The company can only assure investors with words. The only rebut Newsman9 report with their words and their numbers . Actually they can keep Newsman9 shut his mouth forever with photo/video/official document but they produce no such evident and have no plan to do so. I felt they have nothing to show.
Another reasons is not what were said but the body language. Not very scientific I must say and I might have wronged them. However as a business man for many years, my judgement from observing non verbal communication has been serving me very well all this while.
I am just sharing what I have gone thru and please don't let that affect your investment decision.
Just do what is right and comfortable for you.

[CityFarmer]

Please read the forum in sharejunction, very professional one . They are doing forensic on the latest Sinograndness report. Some forum-ers analyze the stated profits, AR and FCF and link them to a possibility of overstating sales .

Beware what you read at sharejunction... loads of self-serving individuals... eg. paint a negative picture of a stock and short it like crazy..... or vice versa....

Thank you very much kye_lin. I have sold all shares on the day after I attended the lunch meeting with CEO/CFO/ and IR-VP when they flew here to assure investor of Newsman9 report. I sold all share for 2 reasons:
The company can only assure investors with words. The only rebut Newsman9 report with their words and their numbers . Actually they can keep Newsman9 shut his mouth forever with photo/video/official document but they produce no such evident and have no plan to do so. I felt they have nothing to show.
Another reasons is not what were said but the body language. Not very scientific I must say and I might have wronged them. However as a business man for many years, my judgement from observing non verbal communication has been serving me very well all this while.
I am just sharing what I have gone thru and please don't let that affect your investment decision.
Just do what is right and comfortable for you.

I know nothing on the company, but I share the approach followed.

Typically no additional disclosure during any face-to-face meeting, on top of formal disclosure. But "additional info" can be obtained by body language, and facial expression, during a briefing and conversation, which is very valuable in decision making.

It has served me well all the while too.

(not vested, and not monitoring)

[CityFarmer]

For those interested and vested.

(not vested)

Sino Grandness kept at ‘buy’ with 95 cents price target by UOB-KayHian

SINGAPORE (Nov 18): UOB-KayHian is maintaining its “buy” call for Sino Grandness Food with price target of 95 cents.

In a Nov 17 report, Brandon Ng Chenhao said Sino Grandness Food's 9M14 earnings came in above expectations and have already formed 90% of the house’s full-year estimate and the stock has also declined considerably.

In 9M14, Sino Grandness reported a net profit of RMB448.3 million ($95 million), up 31.2% from a year ago, driven by stronger revenue and improved gross profit margins.

Revenue grew 35.3% y-o-y to RMB2.3 billion as sales of its Garden Fresh bottled juices continued to register strong growth of 46.9% to RMB1.5 billion while sales of canned products also grew 18.3% y-o-y to RMB823.9 million.

9M14 gross profit increased 39.4% y-o-y to RMB908.2 million with gross margin improving slightly to 39.2% from 38.1% in 9M13 due to stronger contribution from the higher margin beverage segment.

Although the 9M14 results already formed 90% of UOB-KayHian’s full-year estimate, the house is only adjusting its forecast marginally, as the fourth quarter is seasonally a weaker quarter and the company will have to charge an additional interest payment for the partial convertible bond redemption in October.

Sino Grandness has also made several positive announcements in the quarter, said Ng. These announcements include securing a new distributor to sell Garden Fresh products in Hong Kong’s wellcome supermarket chains and eventually 7-Eleven stores.

The rest of the RMB80.5 million convertible bondholders have also signed the documentations to extend the maturity date to 30 Jun 15 while the company has also secured about RMB300 million worth of indicative orders from the recently concluded Chongqing tradeshow.

Lastly, Sino Grandness has lodged the offer document with the SGX on the recent placement to the Thai investment conglomerates, Thoresen Thai Agencies (TTA) and PM Group. Although Sino Grandness not give a definitive date when it will obtain the approval from SGX, UOB-Kay Hian estimates that the deal will be completed in 4-8 weeks’ time.

Sino Grandness’ share price has declined considerably despite the several positive developments and CEO Huang also bought 1.72 million shares at an average price of 50 cents.

However, Ng said risk averse investors should only accumulate the shares after the Garden Fresh listing becomes more apparent or at least the placement deal between Sino Grandness and PM Group is completed.

By then, Sino Grandness’s balance sheet will be stronger and the company can formulate an official policy of paying 10% of its net profits as dividends, providing investors a yield of 3.3%.

Sino Grandness closed 3.2% lower yesterday at 46 cents.
http://www.theedgemarkets.com/sg/article...ob-kayhian

[Wildreamz]

Thank you very much kye_lin. I have sold all shares on the day after I attended the lunch meeting with CEO/CFO/ and IR-VP when they flew here to assure investor of Newsman9 report. I sold all share for 2 reasons:
The company can only assure investors with words. The only rebut Newsman9 report with their words and their numbers . Actually they can keep Newsman9 shut his mouth forever with photo/video/official document but they produce no such evident and have no plan to do so. I felt they have nothing to show.
Another reasons is not what were said but the body language. Not very scientific I must say and I might have wronged them. However as a business man for many years, my judgement from observing non verbal communication has been serving me very well all this while.
I am just sharing what I have gone thru and please don't let that affect your investment decision.
Just do what is right and comfortable for you.

Thank you for your valuable insight. I do not have the opportunity to attend the meeting. I wish I could make the same judgement as you.

@Cityfarmer

I have seen the report too, but I do not think it has much to contribute. The big elephant in the room is still the Trade and Other Receivables. From what I gather, trade receivables beyond 90 days has already been collected, so the bulk of the 1.4b receivables is actually "other receivables"? Not sure what to make of it, but I don't like what I see.

[leeeta]

Thank you very much kye_lin. I have sold all shares on the day after I attended the lunch meeting with CEO/CFO/ and IR-VP when they flew here to assure investor of Newsman9 report. I sold all share for 2 reasons:
The company can only assure investors with words. The only rebut Newsman9 report with their words and their numbers . Actually they can keep Newsman9 shut his mouth forever with photo/video/official document but they produce no such evident and have no plan to do so. I felt they have nothing to show.
Another reasons is not what were said but the body language. Not very scientific I must say and I might have wronged them. However as a business man for many years, my judgement from observing non verbal communication has been serving me very well all this while.
I am just sharing what I have gone thru and please don't let that affect your investment decision.
Just do what is right and comfortable for you.

Thank you for your valuable insight. I do not have the opportunity to attend the meeting. I wish I could make the same judgement as you.

@Cityfarmer

I have seen the report too, but I do not think it has much to contribute. The big elephant in the room is still the Trade and Other Receivables. From what I gather, trade receivables beyond 90 days has already been collected, so the bulk of the 1.4b receivables is actually "other receivables"? Not sure what to make of it, but I don't like what I see.

I hv last Fridays briefing rpt in PDF format..was told that I can't post in forums.if keen pm me with and I will whatapp you the file..let me hv ur hp number as well. Thx.

[CY09]

From AR 13,

The company's Other receivables doubled vis a vis FY12 and one of the main reasons is the increase of its advances to suppliers and contractors, VAT receivables and to Anhui Municipal Government. The upcoming annual report due next May will let us gleam more into the trade receivables. It seems their reported "trade receivables" is always about 100% of the last quarter's revenue; so right now the 1.45 Mil receivable is likely to consists of 1.02 Billion "trade receivables" and the rest is "Other receivables". In AR13, FY 13 stated "other receivables" was 288M, thus it may have increased to about 430 Mil RMB now.

So remember to look into section 12 of the annual report FY14 when its published in May 2015.

<Considering to pare down>

[Tiggerbee]

Thank you very much kye_lin. I have sold all shares on the day after I attended the lunch meeting with CEO/CFO/ and IR-VP when they flew here to assure investor of Newsman9 report. I sold all share for 2 reasons:
The company can only assure investors with words. The only rebut Newsman9 report with their words and their numbers . Actually they can keep Newsman9 shut his mouth forever with photo/video/official document but they produce no such evident and have no plan to do so. I felt they have nothing to show.
Another reasons is not what were said but the body language. Not very scientific I must say and I might have wronged them. However as a business man for many years, my judgement from observing non verbal communication has been serving me very well all this while.
I am just sharing what I have gone thru and please don't let that affect your investment decision.
Just do what is right and comfortable for you.

Thank you for your valuable insight. I do not have the opportunity to attend the meeting. I wish I could make the same judgement as you.

@Cityfarmer

I have seen the report too, but I do not think it has much to contribute. The big elephant in the room is still the Trade and Other Receivables. From what I gather, trade receivables beyond 90 days has already been collected, so the bulk of the 1.4b receivables is actually "other receivables"? Not sure what to make of it, but I don't like what I see.

I hv last Fridays briefing rpt in PDF format..was told that I can't post in forums.if keen pm me with and I will whatapp you the file..let me hv ur hp number as well. Thx.

Why don't they post the rebuttal report in SGX portal? Doesn't make sense at all.