Many people are wondering why I am buying Xingquan almost every day because the company did not give out much dividend and most investors do not believe its audited accounts. I shall write another article about this shortly.
If u go thru the latest annual report of Xinquan, u shall notice that Koon Koon and related party's holdings increased almost 100% from last year 's 6.67% to 12%+. I only based on the names of Koon Koon, Koon Cze Yan (Koon Koon's grandson??) n Tan Kit Pheng/ Tan Kit Yew. I think he may buy some under other's name as well.
By doing such down averaging, Koon Koon's cost could be ard RM0.70-RM0.80...I think he may post many articles later to promote this to you...then he can finally escape,even for a 10% gain...Another typical Koon Koon Systems (not Koon Bee...)
But I am curious to know what kind of story Koon Koon will come out this time...How does Xinquan comply with his share selection golden rule???
"The one and only reason for me to own the above shares is because they all comply with my share selection golden rule which is the companies must be able to make more profit this year than last year. I believe their prices will go up sooner or later when they announced increased profits."
Last but not least, I sincerely hope that the cash is real and exist...Then Koon Koon can keep on buying the shares until he knocks off the China Boss....Then Koon Koon can do a capital return to distribute the hefty cash showed in their balance sheet....Then Koon Koon will finally becomes HERO and I will trust more Koon Koon System than KB...
Still can do some short term trading...When Koon Koon posted his articles on Xinquan here again then he will have to push up the price to attract u to buy...
I think only koon koon still collecting it eveyday. One day he will be able to push up the price.. I will follow him to buy now when the price still cheap
GT might have done normal audit procedures in getting bank confirmations for cash balances, but this procedure is still susceptible to fraud as bank letters can be intercepted midway. The auditors will always cover their back by saying they have done the right thing and the cash exists, but if the company that's been sitting on cash for,so long can't utilise the cash pile in the most efficient manner then it is not in the best interest of shareholders. It is therefore not surprising that people avoid this stock. kYY always preach his golden rule of low PE and increasing profits, but in this case management integrity matters most more than anything else. Management has not done enough to convince shareholders. Mr Koon may have visited their china factory, but I'm curious how many times has he spoke to management in depth to find out their real intentions
It is time for investors to leave Xing, it sit on a cash pile of 1 Billion, yet still no DIVIDENT for it's investors, and now wants to carried out right issue to get the investors, and Lastly, if true Mr K YY has had WALK out of it's AGM.
So what? You are not majority shareholder. Even KYY cannot question them. Want cash pile? Just takeover them like all the China companies listed in Bursa. Only then you can decide what to do with the cash.
rockycleft Even if the cash pile is real, you think it is there for you to share? Hahaha....
You have to know that this is not nike factory..its a typical china setup ..it could be faking a lot of things... So good luck & if u want to lose your pants and shoes and underwear can throw money in it.
I suggest mr koon sell all his useless share in this company and donate the money to charity... Since there is no dividend, and mgmt looks fake and lazy.. just dump it and move on for a better purpose eg charity..rather than charity to the fake setup.. Even if their shoes are legitimate, it can never compete with nike, reebok, puma, adidas and other brands Xingquan shoe is a joke -logically it has no place in any segments haha
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MQ Trader 3205 views | 3 d ago
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New IPO: The largest mini-market player and a leading groceries retailer in Malaysia, 99 Speed Mart Retail Holdings Bhd aims to list on the Main Market!
This book is the result of the author's many years of experience and observation throughout his 26 years in the stockbroking industry. It was written for general public to learn to invest based on facts and not on fantasies or hearsay....
mfmqqq
211 posts
Posted by mfmqqq > 2015-12-10 09:11 | Report Abuse
mr qahar, trading buy xinquan....buy