Hotung Investment (和通）

[desmondxyz]

strange that this counter MIA in SGX website?

it is not listing in the "stock" counters under alphabet "H"? Where is it?

NT1

I doubt my eyesight got problem, but it is not appearing at where I usually found them.

http://www.sgx.com/wps/portal/sgxweb/hom...ies/stocks

SGX crocked up....

[desmondxyz]

Company share buyback:

24 Feb: 2,391,600 shares @ 0.151
25 Feb: 2,067,500 shares @ 0.150 ~ 0.152
26 Feb: 713,500 shares @ 0.151
2 Mar: 218,900 shares @ 0.151
9 Mar: 1,393,000 shares @ 0.149
11 Mar: 135,700 shares @ 0.149
16 Mar: 602,600 shares @ 0.149 ~ 0.151
17 Mar: 120,500 shares @ 0.150
24 Mar: 18,400 shares @ 0.149
15 Apr: 280,000 shares @ 0.154
17 Apr: 540,500 shares @ 0.154
20 Apr: 1,034,100 shares @ 0.154 ~ 0.155
21 Apr: 500,000 shares @ 0.156
22 Apr: 1,512,200 shares @ 0.156 ~ 0.157
23 Apr: 1,218,900 shares @ 0.157 ~ 0.158
22 May: 556,400 shares @ 0.155 ~ 0.156

Accumulated share buyback: 13,303,800 shares

[BlueKelah]

nice

but it does make one wonder if their ultimate goal is just to accumulate enough shares from the market over many years and to delist at a discount before starting to sell off the portfolio.

-v-

[desmondxyz]

nice

but it does make one wonder if their ultimate goal is just to accumulate enough shares from the market over many years and to delist at a discount before starting to sell off the portfolio.

-v-

Their investment portfolio is not transparent as K1 ventures. Very hard to gauge the intrinsic value...that's why Mr market is giving it a 50% discount to NAV....Below is one of the recent investment:

Cnano Technology Ltd., a U.S. maker of carbon nanotubes used in energy-storage products, completed a $15 million financing plan that it will use to expand production in China.

Grand River Capital’s SinoGreen Fund led the financing, which included Hotung Investment Holdings Ltd. and existing investors Pangaea Ventures, Presidio Partners, WI Harper Group, IDG Capital Partners and Megatop Capital, Cnano Technology said in a statement on its website Monday. Individual amounts weren’t disclosed.

Closely held Cnano plans to use the funding proceeds at its manufacturing facility in Zhenjiang, Jiangsu, according to the statement. The nanotubes produced there also are used in batteries, electronics and electric vehicles.

http://www.bloomberg.com/news/articles/2...production

https://www.pehub.com/2015/04/cnano-pick...-series-c/

[valuebuddies]

If the intention is to delist, then the majority shareholder would increase their stakes on the company instead of share buy-back by the company itself. IMO, what Hotung is doing could be due to (1) excess of cash, (2) to attract market attention, and (3) planning for future share options for chairwoman and employees.

[desmondxyz]

Company share buyback 2015:

24 Feb: 2,391,600 shares @ 0.151
25 Feb: 2,067,500 shares @ 0.150 ~ 0.152
26 Feb: 713,500 shares @ 0.151
2 Mar: 218,900 shares @ 0.151
9 Mar: 1,393,000 shares @ 0.149
11 Mar: 135,700 shares @ 0.149
16 Mar: 602,600 shares @ 0.149 ~ 0.151
17 Mar: 120,500 shares @ 0.150
24 Mar: 18,400 shares @ 0.149
15 Apr: 280,000 shares @ 0.154
17 Apr: 540,500 shares @ 0.154
20 Apr: 1,034,100 shares @ 0.154 ~ 0.155
21 Apr: 500,000 shares @ 0.156
22 Apr: 1,512,200 shares @ 0.156 ~ 0.157
23 Apr: 1,218,900 shares @ 0.157 ~ 0.158
22 May: 556,400 shares @ 0.155 ~ 0.156
25 May: 541,800 shares @ 0.156 ~ 0.157

Accumulated share buyback: 13,845,600 shares

[theasiareport]

What good if the cash is designated for investment, ie not free cash for distribution.

The day hotung stop investing is the day we should start investing.


Sent from my iPhone using Tapatalk

Well, its good if its earmarked for future investments (which is their core business). Unless Hotung has a track record of destorying value, it makes sense that their cash holdings should be taken at face value.

It just doesn't seem to be the case that management will actively seek out poor returns on their investments.

[desmondxyz]

Company share buyback 2015:

24 Feb: 2,391,600 shares @ 0.151
25 Feb: 2,067,500 shares @ 0.150 ~ 0.152
26 Feb: 713,500 shares @ 0.151
2 Mar: 218,900 shares @ 0.151
9 Mar: 1,393,000 shares @ 0.149
11 Mar: 135,700 shares @ 0.149
16 Mar: 602,600 shares @ 0.149 ~ 0.151
17 Mar: 120,500 shares @ 0.150
24 Mar: 18,400 shares @ 0.149
15 Apr: 280,000 shares @ 0.154
17 Apr: 540,500 shares @ 0.154
20 Apr: 1,034,100 shares @ 0.154 ~ 0.155
21 Apr: 500,000 shares @ 0.156
22 Apr: 1,512,200 shares @ 0.156 ~ 0.157
23 Apr: 1,218,900 shares @ 0.157 ~ 0.158
22 May: 556,400 shares @ 0.155 ~ 0.156
25 May: 541,800 shares @ 0.156 ~ 0.157
26 May: 3,008,100 shares @ 0.147 ~ 0.149 (xd)
27 May: 1,740,100 shares @ 0.146 ~ 0.149

Accumulated share buyback: 18,593,800 shares

No. of issued shares excluding treasury shares: 993,828,983
Treasury shares: 52,777,800

[morten]

Thanks for the updates on buybacks... appreciated.

Maybe Hotung management is just merely investing Hotung's cash in an obviously (obvious to them) undervalued asset, ie their own shares.

[chew]

Hi, can I check what happens to the TWD dividend? Who coverts it to SGD?