Qingmei Group Holdings

[shanrui_91]

too bad i don't have spare cash reserved for gambling since it is still illegal for me to gamble

[Underdogger]

A lot of insiders are selling...

something might be wrong which insiders know but we people do not know??

[Stockerman]

The customer base for Qingmei does not include any major international brands?

It is only the domestic brands such as Double Star, Jin Shu Wang, Kang Ta, Qiao Dan, K-Bird, 361 and Xtep...

More room for shady dealings....

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Admin expenses increased by 43.7% from 15.8mil to 22.7mil RMB. Company only plainly explained that it was mainly due to increased in salaries.

But upon further query from SGX, company then went on to explain that 0.5mil increase was due to increase in salaries. The rest was due to the realization of exchange losses from the depreciation of Spore dollar against RMB.

It was very evident from this simple incident that company was trying to "hide" even simple accounting info. Well, if you find one in the kitchen, they are probably many dozens around...Good luck to those invested!! SGX and investors are again taken for a ride...

[Curiousparty]

Hi all

Does anyone know where is the official homepage/website of Qingmei? Cannot seem to find one..

With so much cash around, why doesn't the company pay special dividend to reward the shareholders...this is the strange thing too...


There is never FREE LUNCH in the market...

[sgmystique]

Qingmei does not have a website...I know it's quiet odd, but that's a fact of life all Qingmei shareholders have to live with. I intend bringing this up quiet strongly during the AGM this year.

As far as cash is concerned Qingmei has paid out very good dividends for the last two years. That is one of the reasons for my being a shareholder. You can get details from the SGX website. The key thing to see would be the dividends they declare for this year... Am hoping they continue with paying out a good dividend this year as well...

Hi all

Does anyone know where is the official homepage/website of Qingmei? Cannot seem to find one..

With so much cash around, why doesn't the company pay special dividend to reward the shareholders...this is the strange thing too...


There is never FREE LUNCH in the market...

[Curiousparty]

Has any of the shareholders seen the factories in China? Are the factories real?

has anyone at the forum done background checks with all the "customers" which the company deals with?

I have learnt from a lot of my Chinese friends that it only takes some effort to produce fake bank account details. A lot of the chinese kids need to go overseas to study and so their parents have to produce evidence that they have XXX amt of money in the bank. What these parents normally do is that they just pay some money to get the bank to issue some bank account details - Looks like real ones

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CIMB previously had a buy recommendation for China essence for 53 cents. Now it is only 9.5 cents...

CIMB also had a buy recommendation for Qingmei for 24 cents...Now it is only 8 cents...

[Underdogger]

Even their own Chinese website is not working?
Have so many millions of cash lying in the bank but no money to pay for a website???
very strange in this technological and social media age...very strange...

When I clicked on the website below
http://cnqm.com.cn/en/index.html
I got the following messages!!!!!

"您正在访问的域名 (cnqm.com.cn) 可以转让!
This domain name (cnqm.com.cn) is for sale"

Hope the chinese at the other end don't laugh until the cow comes home on the stupidity and gullibility of xxxxxx

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The net proceeds from IPO was only S$44.1mil or $220mil RMB.

If it is so profitable and cashcow business, why even need to do an IPO in first place?
I will take the company private and milk the cow myself if I am owner...

[Curiousparty]

Yes, the IDs should prove their case convincingly...use their own money and buy the counters....no point just paying lip service which does not cost money!

Most importantly from my one-to-one with Mr. Tan Siok Sing was the assurance that the Audit Committee (AC) has taken all pains to make sure that Qingmei does not turn out to be a fraud case like numerous other S-Chips. I had a similar assurance from Mr. Pek Yew Chai (Independent Director & Audit Committee member), who is a former CEO of Singapore Computer Systems (SCS). These clarifications offer a certain degree of assurance to minority shareholders like myself that we are not being taken for a ride.

I would really appreciate if any other members who had been to the AGM can pen down their thoughts as well.

hi sgmystique,
The first time i heard something similar at a S chip AGM, i was taken in (the company bombed 1 yr later and the IDs resigned). That is also the last time i would ever believe in such cr*p or attempt to seek such consolation..

As a matter of fact, i would implore u to challenge the IDs to put their $ where their mouth is, ie. use their director fees to buy up supposingly undervalued shares on the open market!

[sgpunter]

I don't understand but why do people keep picking on Qingmei? I can name you a dozen S Chips without a website and I can also name you some that have nice websites but have since been suspended. China Milk for example had a nice website and even won awards for its Annual Report. Look what happened in the end.

As for the director selling, sure I don't like it either but I'm sure he has his reasons for doing so. I have seen other companies where directors sell their stake (e.g Biosensors) but it does not necessarily mean the company is a sham. I have also seen directors buying shares and people say directors only buy because they think the price in undervalued but the prices have fallen well below the directors' purchase prices. An extreme example is Hongwei where the directors were buying aggressively.

Qingmei also issued a profit warning but I have been seeing so many S Chips issues profit warnings that it seems to have become the norm (unfortunately).

Basically, my point is I don't think there is cause for alarm (as yet) so I don't understand why some are alluding to something fishy going on over some insider selling or the lack of a website. I think it just goes to show how horrible the sentiment towards S Chips is thus resulting in such ridiculous valuations for so many of them...

[yeokiwi]

There was this analogy being presented...

The creature quakes but it may not be a duck
The creature has webbed feet but it may not be a duck.
The creature waddles but it may not be a duck.

So, in aspects, it does look like a duck.
But, if you are a bird expert and able to discern that this is in fact a golden goose, the gains will be tremendous.
But.. under normal circumstances, I would not want to put my $$$ against the common consensus of VB forum members.