Sino Grandness released a poor FY14 result recently. Although the revenue grew by 25% to RMB2.9Billion, the net profit dropped by 19% to RMB233M as compared to previous year. The main reasons contributed to the drop of net profit were the increase of distribution & selling expenses (mainly advertising cost) and increase of finance costs well as changes in fair value of option derivatives in relation to convertible bonds.
The breakdown of the revenue by segments of Sino Grandness is oversea canned products RMB635M, domestic canned products RMB308M and beverages RMB1,877M. Gross profit margin improved due mainly to commencement of Hubei plant.
Balance sheet wise, total shareholder funds grew 34% to RMB1,572M, partly due to the RMB158M new placement to new investor. The number of outstanding shares increased to 673M from 587M previous year. NAV is about S$0.50, with EPS about 7.4 cents. ROAE is about 15% - 20%.
Company made an adjustment to the fair value of the convertible bonds liability for FY2013, from RMB349M to RMB524M. The current value of convertible bonds liability for FY2014 was RMB722M. This means that the company would need to get additional cash ready to settle the convertible bonds if IPO of Garden Fresh is not listed successfully before the maturity date of convertible bonds by June / July 2015. Worse comes to worst, the company may need to raise the fund from private placement which will further dilute the earning per shares and net asset value per shares.
I would not be surprised if Sino Grandness stay at the distress price level until the issue of IPO of Garden Fresh could be resolved. I would recommend risk adverse investors to stay away from this counter, as the probability of the delay of Garden Fresh IPO listing is getting higher now.
Subscribe to:
Post Comments (Atom)
View All My Posts Here
-
▼
2015
(4)
- ► February 2015 (3)
-
►
2014
(191)
- ► December 2014 (2)
- ► November 2014 (8)
- ► October 2014 (8)
- ► September 2014 (6)
- ► August 2014 (51)
- ► April 2014 (5)
- ► March 2014 (10)
- ► February 2014 (19)
- ► January 2014 (20)
-
►
2013
(175)
- ► December 2013 (12)
- ► November 2013 (7)
- ► October 2013 (12)
- ► September 2013 (7)
- ► August 2013 (31)
- ► April 2013 (20)
- ► March 2013 (8)
- ► February 2013 (13)
- ► January 2013 (18)
-
►
2012
(132)
- ► December 2012 (43)
- ► November 2012 (11)
- ► October 2012 (7)
- ► September 2012 (31)
- ► August 2012 (20)
- ► March 2012 (1)
- ► January 2012 (5)
-
►
2011
(226)
- ► December 2011 (10)
- ► November 2011 (11)
- ► October 2011 (8)
- ► September 2011 (24)
- ► August 2011 (48)
- ► April 2011 (17)
- ► March 2011 (10)

Surprised you're not questioning their accounts following the newman9 report?
ReplyDeleteIt's been known that their cash flow is quite tied up since they listed in SGX, and so does the receivables growth following the aggressive sales. I would not be surprised to those negative report as Noble / Olam / China Minzhong also been questioned by those short sellers. As long as IPO uncertainty remains, I believe most investors will not be willing to put large bet on this counter.
Delete
DeleteSaya sangat bersyukur atas rahmat yg diberikan kepada saya dibulan ini karna alhamdulillah melalui MBAH RAWAIRE saya sekaran sudah bisa sukses atas nomor yg diberikan kepada saya dan saya yg dulunya cuma seorang TKW dari singapur yg gajinya tidak pernah mencukupi kebutuhan keluarga saya dikampun dan alhamdulillah berkat bantuan MBAH RAWAIRE kini saya sudah bisa pulang kampun,saya bersama keluarga dikampun sudah punya usaha sendiri dan saya tidak pernah menyanka kalau saya bisah seperti ini,jika anda ingin seperti saya silahkan hubungi MBAH RAWAIRE di nomor 085-316-106-111...karna alhamdulillah saya menan nomor togel dari MBAH dan kalau uang indonesia 750 juta,,ini bukan rekayasa dari saya dari IBU RISKA.untuk lebih lenkapnya silahkan buka SITUS MBAH RAWAIRE
Saya sangat bersyukur atas rahmat yg diberikan kepada saya dibulan ini karna alhamdulillah melalui MBAH RAWAIRE saya sekaran sudah bisa sukses atas nomor yg diberikan kepada saya dan saya yg dulunya cuma seorang TKW dari singapur yg gajinya tidak pernah mencukupi kebutuhan keluarga saya dikampun dan alhamdulillah berkat bantuan MBAH RAWAIRE kini saya sudah bisa pulang kampun,saya bersama keluarga dikampun sudah punya usaha sendiri dan saya tidak pernah menyanka kalau saya bisah seperti ini,jika anda ingin seperti saya silahkan hubungi MBAH RAWAIRE di nomor 085-316-106-111...karna alhamdulillah saya menan nomor togel dari MBAH dan kalau uang indonesia 750 juta,,ini bukan rekayasa dari saya dari IBU RISKA.untuk lebih lenkapnya silahkan buka SITUS MBAH RAWAIRE
Ass...saya tidak menyanka kalau saya sudah bisa sesukses ini dan ini semua berkat bantuan MBAH RAWA GUMPALA,saya yang dulunya bukan siapa-siapa bahkan saya juga selalu dihina orang dan alhamdulillah kini sekaran saya sudah punya segalanya,itu semua atas bantuan beliau.Saya sangat berterimakasih banyak kepada MBAH RAWA GUMPALA atas bantuan nomor dan dana ghaibnya,alhamdulillah kini saya sudah bisa membuka usaha kembali yang dulunya pakum karna masalah faktor ekonomi dan kini kami sekeluarga sudah sangat serba berkecukupan dan tidak pernah lagi hutang sana sini,,bagi anda yang punya masalah keuangan jangan sungkan-sungkan untuk menhubungi MBAH RAWA GUMPALA karna insya allah beliau akan membantu semua masalah anda dan baru kali ini juga saya mendaptkan para normal yang sangat hebat dan benar-benar terbukti nyata,ini bukan hanya sekedar cerita tapi inilah kisah nyata yang benar-benar nyata dari saya dan bagi anda yg ingin seperti saya silahkan hubungi saja MBAH RAWA GUMPALA di 085==316==106==111
Delete(((( BUKA BLO DANA GHAIB DAN NOMOR GHAIB MBAH RAWA GUMPALA ))))
Ass...saya tidak menyanka kalau saya sudah bisa sesukses ini dan ini semua berkat bantuan MBAH RAWA GUMPALA,saya yang dulunya bukan siapa-siapa bahkan saya juga selalu dihina orang dan alhamdulillah kini sekaran saya sudah punya segalanya,itu semua atas bantuan beliau.Saya sangat berterimakasih banyak kepada MBAH RAWA GUMPALA atas bantuan nomor dan dana ghaibnya,alhamdulillah kini saya sudah bisa membuka usaha kembali yang dulunya pakum karna masalah faktor ekonomi dan kini kami sekeluarga sudah sangat serba berkecukupan dan tidak pernah lagi hutang sana sini,,bagi anda yang punya masalah keuangan jangan sungkan-sungkan untuk menhubungi MBAH RAWA GUMPALA karna insya allah beliau akan membantu semua masalah anda dan baru kali ini juga saya mendaptkan para normal yang sangat hebat dan benar-benar terbukti nyata,ini bukan hanya sekedar cerita tapi inilah kisah nyata yang benar-benar nyata dari saya dan bagi anda yg ingin seperti saya silahkan hubungi saja MBAH RAWA GUMPALA di 085==316==106==111
Let us consider the overall investment potential here. Gross profit margins improved due to a new plant; indicating expansion. Shareholder funds grew %34. That sounds pretty good. However, the company needs to get extra cash on hand to honor convertible bonds if the Garden Fresh IPO doesn’t happen (and succeed) by July. This represents a big question for potential and current investors. The company should be taking clear steps assure people that the IPO is happening within that time frame. Otherwise it might be wise for current investors to minimize their risk and for potential investors to adopt a wait and see attitude.
ReplyDeleteIEEE Project Domain management in software engineering is distinct from traditional project deveopment in that software projects have a unique lifecycle process that requires multiple rounds of testing, updating, and faculty feedback. A IEEE Domain project Final Year Projects for CSE system development life cycle is essentially a phased project model that defines the organizational constraints of a large-scale systems project. The methods used in a IEEE DOmain Project systems development life cycle strategy Project Centers in India provide clearly defined phases of work to plan, design, test, deploy, and maintain information systems.
DeleteThis is enough for me. I want to write software that anyone can use, and virtually everyone who has an internet connected device with a screen can use apps written in JavaScript. JavaScript Training in Chennai JavaScript was used for little more than mouse hover animations and little calculations to make static websites feel more interactive. Let’s assume 90% of all websites using JavaScript use it in a trivial way. That still leaves 150 million substantial JavaScript Training in Chennai JavaScript applications.
Hey Jack, also put some Malaysian stock market news which can help many researchers does KLSE stock analysis without the help of others,
ReplyDeleteHey keep posting such good and meaningful articles.
ReplyDeletekami sekeluarga tak lupa mengucapkan puji syukur kepada ALLAH S,W,T
ReplyDeletedan terima kasih banyak kepada AKI atas nomor togel.nya yang AKI
berikan 4 angka alhamdulillah ternyata itu benar2 tembus AKI.
dan alhamdulillah sekarang saya bisa melunasi semua utan2 saya yang
ada sama tetangga.dan juga BANK BRI dan bukan hanya itu AKI. insya
allah saya akan coba untuk membuka usaha sendiri demi mencukupi
kebutuhan keluarga saya sehari-hari itu semua berkat bantuan AKI..
sekali lagi makasih banyak ya AKI… bagi saudara yang suka main togel
yang ingin merubah nasib seperti saya silahkan hubungi AKI ALIH,,di no (((0823 1366 9888)))
insya allah anda bisa seperti saya…menang togel 275
juta, wassalam.
dijamin 100% jebol saya sudah buktikan...sendiri....
Apakah anda termasuk dalam kategori di bawah ini !!!!
1"Dikejar-kejar hutang
2"Selaluh kalah dalam bermain togel
3"Barang berharga anda udah habis terjual Buat judi togel
4"Anda udah kemana-mana tapi tidak menghasilkan solusi yg tepat
5"Udah banyak Dukun togel yang kamu tempati minta angka jitunya
tapi tidak ada satupun yang berhasil..
Solusi yang tepat jangan anda putus asah.... AKI ALIH akan membantu
anda semua dengan Angka ritwal/GHOIB:
butuh angka togel 2D 3D 4D SGP / HKG / MALAYSIA / TOTO MAGNUM / dijamin
100% jebol
Apabila ada waktu
silahkan Hub: AKI ALIH: (((0823 1366 9888)))
KLIK RAMALAN TOGEL 4D 5D 6D
angka GHOIB: singapur 2D/3D/4D/
angka GHOIB: hongkong 2D/3D/4D/
angka GHOIB; malaysia
angka GHOIB; toto magnum 4D/5D/6D/
angka GHOIB; laos
saya PAK SLEMET posisi sekarang di malaysia
ReplyDeletebekerja sebagai BURU BANGUNAN gaji tidak seberapa
setiap gajian selalu mengirimkan orang tua
sebenarnya pengen pulang tapi gak punya uang
sempat saya putus asah dan secara kebetulan
saya buka FB ada seseorng berkomentar
tentang AKI NAWE katanya perna di bantu
melalui jalan togel saya coba2 menghubungi
karna di malaysia ada pemasangan
jadi saya memberanikan diri karna sudah bingun
saya minta angka sama AKI NAWE
angka yang di berikan 6D TOTO tembus 100%
terima kasih banyak AKI
kemarin saya bingun syukur sekarang sudah senang
rencana bulan depan mau pulang untuk buka usaha
bagi penggemar togel ingin merasakan kemenangan
terutama yang punya masalah hutang lama belum lunas
jangan putus asah HUBUNGI AKI NAWE 085-218-379-259
tak ada salahnya anda coba
karna prediksi AKI tidak perna meleset
saya jamin AKI NAWE tidak akan mengecewakan
saya PAK SLEMET posisi sekarang di malaysia
bekerja sebagai BURU BANGUNAN gaji tidak seberapa
setiap gajian selalu mengirimkan orang tua
sebenarnya pengen pulang tapi gak punya uang
sempat saya putus asah dan secara kebetulan
saya buka FB ada seseorng berkomentar
tentang AKI NAWE katanya perna di bantu
melalui jalan togel saya coba2 menghubungi
karna di malaysia ada pemasangan
jadi saya memberanikan diri karna sudah bingun
saya minta angka sama AKI NAWE
angka yang di berikan 6D TOTO tembus 100%
terima kasih banyak AKI
kemarin saya bingun syukur sekarang sudah senang
rencana bulan depan mau pulang untuk buka usaha
bagi penggemar togel ingin merasakan kemenangan
terutama yang punya masalah hutang lama belum lunas
jangan putus asah HUBUNGI AKI NAWE 085-218-379-259
tak ada salahnya anda coba
karna prediksi AKI tidak perna meleset
saya jamin AKI NAWE tidak akan mengecewakan
That is an extremely smartly written article. I will be sure to bookmark it and return to learn extra of your useful information. Thank you for the post. I will certainly return.
ReplyDeleteQUANTUM BINARY SIGNALS
ReplyDeleteProfessional trading signals sent to your mobile phone daily.
Start following our trades NOW & gain up to 270% daily.
Want to join more affiliate networks?
ReplyDeleteVisit our affiliate directory to see the ultimate list of affiliate networks.
hi was just seeing if you minded a comment. i like your website and the thme you picked is super. I will be back. https://www.mykioskey.com/kiosks/spa-kiosk/
ReplyDeleteGreat article Lot's of information to Read...Great Man Keep Posting and update to People..Thanks psc result 2018
ReplyDeleteThis blog very help and that understand the value of providing all reputed information. PSC Result
ReplyDeletevery good article.Thanks for sharing keep up the good work. BD Government Jobs
ReplyDeleteThanks author for your Awesome tropic and Excellent Content.Very informative post!
ReplyDeleteclick here
I'm 40 years old female I tested genital herpes (HSV1-2) positive in 2016. I was having bad outbreaks. EXTREMELY PAINFUL. I have try different kinds of drugs and treatment by the medical doctors all to know was avail. Six months ago I was desperately online searching for a helpful remedies for genital herpes (HSV1-2) cure, which I come across some helpful remedies on how DR.WEALTHY have help so many people in curing genital herpes (HSV1-2) with the help of herbal treatment because I too believe there is someone somewhere in the world who can cure herpes completely. At of the past 2 months, however, I've been following his herpes protocol and it stopped all outbreaks completely! To my greatest surprise I was cured completely by following the protocol of his herbal medicine . Don't be discouraged by the medical doctors. There is a cure for HSV with the help of herbs and roots by a herbalist Dr call DR.WEALTHY he is so kind and truthful with his herbal treatment, kindly contact him for more information Via wealthylovespell@gmail.com or WhatsApp DR on +2348105150446 or visit his website https://wealthylovespell.blogspot.com.
ReplyDeleteYou will be lucky as I am today if you have the courage to contact him and listen to his instruction.
I simply couldn't resist praising the way you play with words. This is a perfect example of a well-written blog post.
ReplyDeletegiá vé máy bay tết sài gòn hà nội
Đặt vé máy bay Bamboo
giá vé máy bay liên khương đà nẵng
từ sài gòn đi cam ranh bao nhiêu tiếng
lịch bay hà nội phú quốc vietjet air
This is a great article thanks for sharing this informative information. I will visit your blog regularly for some latest post.Job Circular List
ReplyDeleteMua vé máy bay liên hệ Aivivu, tham khảo
ReplyDeletevé máy bay đi Mỹ giá rẻ
cách mua vé máy bay giá rẻ từ mỹ về việt nam
cách mua vé máy bay từ nhật về việt nam
vé máy bay từ canada về việt nam bao nhiêu tiền
Education Board Results has declared that the HSC Result 2020 publish date. According to the news, HSC Result is going to be published on 30st December 2020. So want to get HSC Exam Result 2020 With Marksheet? Then visit our website quickly.
ReplyDeleteRecently Education Board Bangladesh publish SSC
ReplyDeleteShort Syllabus 2021. Are you a SSC exam candidate for the year of 2021? Yes! then you have to follow
and study according to the SSC New Short Syllabus
2021. SSC New Short Syllabus 2021 is available here. In addition we share HSC Short Syllabus 2021 For more info visit
our website.
Admittedly, this is a handy post. I have learnt some stylistics approach of web content writing. In addition, I can incorporate these techniques in my writing on Our Website given here. We spread rapid yet authentic news throughout the world. Thanks a lot for this post. One thing more you can see SSC Short Syllabus 2021 , recently published.
ReplyDelete