China Rerun Share Discussion Threads

[zangdook] 09/10/2015 08:37

Looks like the Nomad were trying to get them off the books (with a last attempt to extract some cash).

[sleveen] 06/10/2015 15:51

Another one bites the dust

[petewy] 27/2/2015 11:10

Agreed. I.m always suspicious of Chinese results (GNG)

[pimsim] 27/2/2015 10:56

The income statement shows revenue of RMB319m although there appears to be the usual Chinese issue of not getting paid very quickly with accounts receivable rising by RMB129m from RMB16m to RMB145m.

Now that rise is accounts receivable is reflected very oddly in the C/F statement. True Operating C/F is RMB49m but net operating cash flow is showing a remarkable RMB114m because o/s payables are up by RMB82m while offsetting o/s receivables are only showing a rise of RMB18m ?

The rest of the acc/rec is down as a RMB111m 'loan' to a director but there is no comment on this in the report and it certainly isn't being reported accurately in the accounts.

If I was being suspicious (as I think you need to be with Chinese companies) I would say the results are artificially looking great with big increases in revenue , profits and operating cash flow but in reality net operating cash flow was probably less the RMB5m.

[petewy] 27/2/2015 08:48

China Rerun Chemical Group posts pre-tax profits of RMB48.9m for the year to the end of August - 8.6% up on last time.
Like for like sales volume increased by 9.4% to 15.9 million litres and revenues rose to RMB319.3m - up 16.8%.
Gross margins increased by 60bps to 27.2% (FY2013: 26.6%) as a result of selling higher quality products at higher prices whilst benefitting from economies of scale.
As part of the group's restructuring in anticipation of its admission to AIM in October 2013, a new operating subsidiary was incorporated in May 2012 which took over and commenced trading activities in March 2013.
The accounts of the last financial year were therefore six months' results from 1 March 2013 to 31 August 2013.
For the purposes of comparison, financial results from FY2013 have been combined with the six months' audited results of the private company from 1 September 2012 to 28 February 2013, as detailed in the admission document.

In the period under review the group generated revenue of RMB319.3m, representing a growth of 16.8% (FY2013: RMB273.3m). The Group achieved gross profit of RMB86.9m (FY2013: RMB72.8m) and average gross profit margins increased to 27.2% (FY2013: 26.6%). The improvement in gross profit was driven mainly by product upgrades as well as benefits from economies of scale as volumes increased by 9.4%.

Profit after tax was up by 7% at RMB35.1m (FY2013: RMB32.9m). At 31 August 2014, the Company's cash and cash equivalents were RMB51.9m(2013: RMB46.8m).

Executive chairman Xinghe Wu said: "The Group has a clear and focused strategy which has delivered a positive performance in the period with strong growth in both revenue and profit. A rigorous focus on high quality products, high quality distributors and brand building has enabled China Rerun to take full advantage of strong demand. We are well positioned to take advantage of market developments and commercial opportunities in the year ahead and we will continue to focus on creating shareholder value."

- See more at: hxxp://www.stockmarketwire.com/article/4985147/China-Rerun-pre-tax-profits-up.html#sthash.ars7hIKP.dpuf

[james1231] 25/10/2013 15:24

Looks like NBU are moving steadily up now.Hopefully these will follow suit as the figures look tasty :)

[falia] 17/10/2013 10:12

MMS JUST DONT HAVE ANY STOCK,TRY BUYING IN BULK

[ukmassy] 17/10/2013 10:10

Could be 50p today the way things are going LOL!

[falia] 17/10/2013 09:58

50p+ by end of week