14-09-2013, 12:56 AM
China Essence
15-09-2013, 09:09 PM
Just checked the chart and I am surprise by the high volume trade last Friday. Any news that caused this?
26-11-2013, 04:27 PM
Any chance of the company recovering?
(not vested) **************** Revenue The Group’s revenue dipped 92.4% from RMB138.6 million in 1H FY2013 to RMB10.6 million in 1H FY2014. As a marketing strategy, the Group stockpiled the inventory and did not make any sales in 2Q FY2014. Potato harvest occurs once annually from August to November in Northeast China where the Group’s production facilities are based. Due to the limited working capital available, coupling with the low potato yield and low starch yield caused by the heavy flood, the Company purchased lesser potato for production in FY2014 as compared to FY2013.
[I am not here to promote any stocks. Please always do your own research before embarking on any investment decision. I will not be liable for any of your own decisions. Your use of any information or materials is entirely at your own risk. It is your responsibility to ensure that any products, services or information meet your specific requirements. I do not produce material which meets the objectives of any specific financial and risk profile of investors.]
27-11-2013, 12:34 PM
We had this discussion already a year ago. It is not unforseeable. Their operating cashflow is not going to be able to maintain their working capital needs. It is a vicious cycle.
Only thing to look out for is if PRC banks will support them. Otherwise the assets may not even be worth much. (29-12-2012, 03:14 PM)specuvestor Wrote: ^^As discussed earlier, they are killed by 2 things: their capex expansion which will hurt their ACCOUNTING PnL for years to come. But that is sunk cost and shareholders since then had paid the price. http://www.valuebuddies.com/thread-830-p...l#pid38904
Before you speak, listen. Before you write, think. Before you spend, earn. Before you invest, investigate. Before you criticize, wait. Before you pray, forgive. Before you quit, try. Before you retire, save. Before you die, give. –William A. Ward
Think Asset-Business-Structure (ABS)
27-01-2014, 11:06 PM
Why don't the company just wind up? No point to continue reporting loss after loss for more than 2 yrs?
This is no chance that the company might recover.. http://chinaessence.listedcompany.com/ne.../id/390835 (not invested)
[I am not here to promote any stocks. Please always do your own research before embarking on any investment decision. I will not be liable for any of your own decisions. Your use of any information or materials is entirely at your own risk. It is your responsibility to ensure that any products, services or information meet your specific requirements. I do not produce material which meets the objectives of any specific financial and risk profile of investors.]
04-05-2014, 10:41 AM
The interest rate per annum is about 50% of that obtained via a typical credit card in Spore...
How long can the company keep itself afloat? ****************** The Board of Directors of China Essence Group Ltd. (the “Company”, or together with its subsidiaries, the “Group”) wishes to announce that the Company’s indirect wholly-owned subsidiary, Elunchun China Essence Co., Ltd (“鄂伦春嵩天薯业有限公司”), has obtained a loan of RMB100 million (the “Loan”) from Daqing City Jinxin Micro Credit Co., Ltd (“大庆市金信小额贷款有限公司”) (the “Lender”), for the period from 3 April 2014 to 3 May 2014 at an interest rate of 12% per annum and an arranger fee of 1% of the total loan amount. In return of the Loan, the Company’s wholly-owned subsidiary, Heilongjiang China Essence Co., Ltd. agreed to pledge and charge the entire issued and paid up capital of Elunchun China Essence Co., Ltd amounting to RMB145.8 million to the Lender as collateral. The proceeds from the Loan will be utilized for repay banking borrowings obtained from Bank of Communications (“交通银行”) maturing 22 April 2014 to avoid downgrade of bank credit ratings.
[I am not here to promote any stocks. Please always do your own research before embarking on any investment decision. I will not be liable for any of your own decisions. Your use of any information or materials is entirely at your own risk. It is your responsibility to ensure that any products, services or information meet your specific requirements. I do not produce material which meets the objectives of any specific financial and risk profile of investors.]
09-08-2014, 05:28 PM
(This post was last modified: 09-08-2014, 05:32 PM by Curiousparty.)
Mr market is very interesting. For a company with negative equity ( -ve $0.06), there are still people willing to pay 1 cents for such company..
Consecutive losses in the last three FY had destroyed shareholders' value and reduced the book value from $0.67 to -ve $0.06. http://financials.morningstar.com/ratios...ture=en_US (27-11-2013, 12:34 PM)specuvestor Wrote: We had this discussion already a year ago. It is not unforseeable. Their operating cashflow is not going to be able to maintain their working capital needs. It is a vicious cycle.
[I am not here to promote any stocks. Please always do your own research before embarking on any investment decision. I will not be liable for any of your own decisions. Your use of any information or materials is entirely at your own risk. It is your responsibility to ensure that any products, services or information meet your specific requirements. I do not produce material which meets the objectives of any specific financial and risk profile of investors.]
11-08-2014, 01:09 AM
If it's any solace at least their numbers are more real than some other s-chips
Before you speak, listen. Before you write, think. Before you spend, earn. Before you invest, investigate. Before you criticize, wait. Before you pray, forgive. Before you quit, try. Before you retire, save. Before you die, give. –William A. Ward
Think Asset-Business-Structure (ABS)
11-08-2014, 11:55 AM
(This post was last modified: 11-08-2014, 10:00 PM by Curiousparty.)
yes, at least China Essence has the "honesty" to report 3 straight years of massive loss that wiped out its entire equity base plus the massive "write-down" in assets (including A/R, inventory, etc)
At its golden age, it was trading at $1.00. Now, it is trading at 1 cent... (11-08-2014, 01:09 AM)specuvestor Wrote: If it's any solace at least their numbers are more real than some other s-chips
[I am not here to promote any stocks. Please always do your own research before embarking on any investment decision. I will not be liable for any of your own decisions. Your use of any information or materials is entirely at your own risk. It is your responsibility to ensure that any products, services or information meet your specific requirements. I do not produce material which meets the objectives of any specific financial and risk profile of investors.]
18-08-2014, 08:58 AM
(This post was last modified: 18-08-2014, 09:10 AM by Curiousparty.)
China Essence is one classic example of a S-chip, which many investors thought had a "competitive advantage" (or economic moat). Current book NAV = - ve 30 cents.
And some people are still trying to buy at 0.5/0.6/0.7 cents. This is really "punting". http://www.chinaessence.com/index.html If u visit its website, u can still see the logo flashing " China Essence named one of Forbes China's most promising company in 2010" ( a somber but now irrelevant reminder of its former glory...)
[I am not here to promote any stocks. Please always do your own research before embarking on any investment decision. I will not be liable for any of your own decisions. Your use of any information or materials is entirely at your own risk. It is your responsibility to ensure that any products, services or information meet your specific requirements. I do not produce material which meets the objectives of any specific financial and risk profile of investors.]
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