XingQuan was not well received when it made its debut in July 2009. From a high of 1.82, the stock was in a downward drift. It hit bottom in Feb 2010 at 1.05. The share price is a good reflection of the mentality of investors that China stocks listed in Bursa and not in Hong Kong or the New York Stock Exchange are inferior ones. Since its bottom, the stock has been quietly moving up. Yesterday it hit 1.52. The stock is now in an uptrend. It is set to move higher.Fundamentally, XingQuan is a sound stock with a strong balance sheet. It is doing very well presently.
Key statistics as at 31.3.10 are as follows:
Paid-up Cap: 211,715
NTA per share: 2.25
Current Assets: 791,602 (This includes cash and bank balances)
Cash and bank balances: 599,143
Current Liabilities: 233,003
Par value: 0.10
EPS for the quarter ended 31.3.10: 0.10
Core business: Shoes and shoe related products
For a more understanding of the company, click here.
As usual, you buy, sell or hold at your own risk absolutely.
Cheers and good luck.
Cheers and good luck.
