Share Name Share Symbol Market Type Share ISIN Share Description
Aquatic Food LSE:AFG London Ordinary Share JE00BQQG1J93 ORD NPV
  Price Change % Change Share Price Bid Price Offer Price High Price Low Price Open Price Shares Traded Last Trade
  +0.00p +0.00% 14.00p 13.00p 15.00p 14.00p 14.00p 14.00p 3,340.00 08:00:00
Industry Sector Turnover (m) Profit (m) EPS - Basic PE Ratio Market Cap (m)
Food Producers 10,229.1 1,900.0 13.1 1.0 15.85

Aquatic Food Share Discussion Threads

Showing 8326 to 8347 of 8350 messages
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DateSubjectAuthorDiscuss
31/12/2016
16:48
Caradog - no problem. It's nice to see that someone else is taking an interest in this totally unloved stock. But I suppose it's not surprising that the remaining Chinese companies on AIM are still unloved, given the series of disasters and frauds in 2015 (with Naibu, Camkids etc). Although AFG mainly sells frozen fish I think they also sell some fresh fish, but I don't know what the proportion is. Someone asked that question at the AGM. I don't remember the answer. Hopefully we will see the AFG share price doing well in 2017. It's possible the company will take on a broker and try to give it a bit of a push later this year. The UK-based NEDs said they advised the board that any attempt to do that in 2016 would be a waste of time and effort. I'm sure that was the correct advice. But with a strong new CFO in place, and calmer views towards Chinese companies beginning to be heard, a marketing push might work better now. But the company would need to suggest a better divi, I think. We should see the full year results a bit earlier this year, maybe in March or April. The AGM might get moved forward to June. Perhaps the Chinese execs will visit then as part of the marketing push. We should see the Q4 trading statement around the end of Jan/ beginning of Feb. Nothing much is going to happpen till then. I'm tempted to add, but already have quite a big holding, after regular buying through 2016.
galeforce1
29/12/2016
23:57
I stand corrected, Galeforce. I got it all wrong about the type of products they deal in i.e frozen rather than canned. Editing my post to remove inaccuracies.
caradog
29/12/2016
18:56
Caradog The atttraction of AFG is that it really doesn't have to expand a lot. It just needs to keep on doing what it's doing - which is selling about £100m of fish products across China at a decent margin. As the Chinese become ever richer they are likely to buy more fish, which is expensive in all countries. As shareholders we just need the company to re-rate to a sensible p/e. At some point this will happen. It would help if they raised the dividend. AFG aren't selling a lot of canned fish (as I understand it). Most of their product is frozen fish. If there's a threat to the business it probably comes from the supply side, IMO. Having fished out their own seas, for how long can China hope to go on buying huge quantities of fish from all over the rest of the world? Will Scotland be happy to go on selling them 1000 tonnes of mackerel each year (for instance)? At some point I suspect that AFG will have to start sourcing largely from farmed fish. But this process will probably be gradual. In the short to medium term it looks like a solid and sustainable business.
galeforce1
28/12/2016
01:26
And yet you continue to post negative comments Ad-nauseum... Perhaps, we here have heard your message, and choose to believe, that it is cheap precisely because people are not aware of it, or are frightened off by tales of woe from yesteryear regarding Chinese companies. And whilst it is true, many Chinese companies are selling snake oil. Sea-food, is a staple food, with a steady future linked as it is, to population growth, and should continue to grow at a modest pace. That said, selling to a larger number of stores/retailers, and perhaps doing what Apple did, and expanded into vertical integration with boats, markets, warehouses/freezers etc., and then into retail, this might help grow the business above trends. THAT is what I am hoping for... W.
wstirrup
16/11/2016
09:00
I notice your post setting up an action group for JQW in Dec 2015 Hopefully not another action group needed for Aquatic in Dec 2016 ?! "galeforce1 - 15 Dec 2015 - 15:33:24 - 8665 of 8683 JQW - In second place to $100 billion Alibaba. - JQW Thanks davidosh. Good suggestion. Seems to be plenty of interest in a PI action group. If anyone is interested email to [email protected] or private message on advfn to galeforce1"
mister md
16/11/2016
08:33
galeforce1 - totally agree with you that not all Chinese companies are corrupt. Except the ones listed on AIM usually are, at least 9/10 of them, and hoping that this is the 1/10 that isn't corrupt is a big risk to take. A p/e ratio of 1 is telling you something
mister md
15/11/2016
23:48
Mister MD The 'stink' exists only in your imagination. You think that all Chinese companies are corrupt, which they are not.
galeforce1
15/11/2016
15:32
I've come across these types of shares a lot over past 10 years - if it stinks of rotten fish its rotten imho but good luck with your investment
mister md
15/11/2016
13:46
Mister MD Stick with Taylor Wimpey (et al) if you're after solid institutional holdings. If there were solid institutional holdings in AFG the P/E would be 10, not 1. A big spread always means that the price is wrong. It's either too expensive or too cheap. In this case it's too cheap!
galeforce1
15/11/2016
12:57
a bid-offer spread of 28% is also a red flag (as if we didn't need any more)
mister md
14/11/2016
08:48
Caradog - AFG are claiming gross margins of 24.5%, net margins of 10-11%. They are not the retailer. They are the processor and supplier of fresh and frozen fish products, so I don' think those figures look so outrageous. A bit higher than Unilever, but you would expect that (Unilever has net margins of around 9%). Comparing AFG to Tesco really isn't helpful. I agree those scams you nearly got caught in last year were a disgrace, but they are unlikely to repeat. The Chinese govt is supporting actions to prosecute those companies. See www.chinaresolutions.com
galeforce1
14/11/2016
08:36
Galeforce, I held Camkids for a while, based on an IC analysis and recommendation. But a closer look at the business model got me to sell out sharpish. I followed other notorious scams such as Naibu, China Chaintek, etc, etc, in utter disbelief as supposed "experts" stood by as the city wide boys actively aided what can only be described as an industrial scheme for fleecing investors without any risk of being arrested or punished. One of the key metrics that set the alarm bells ringing for me was Camkids claim that they were achieving margins of around 37%, i.e. well above competitors like Adidas who had enormous advantages of scale. AFG are claiming margins of 24%. Do you really believe this, when you consider that the canning business is well over 100 years old, fish is a staple food with little added value, and that AFG are selling to wholesalers rather than selling recognised brands directly to retailers? I believe Tesco food suppliers are running on something like 2-5%.
caradog
13/11/2016
16:28
Brwo Please give it a rest! We get the picture. You think every Chinese company on AIM is a scam, and nothing's going to change your mind. Other people don't think that. They think some smaller Chinese companies represent an opportunity, and AFG in particular. Let's just agree to differ.
galeforce1
13/11/2016
14:55
Lets look at the shareholders. Any well-known names there? Nope. Chinese, off-shore you name it. How dodgy can you get. allotted and issued 50,000,000 Ordinary Shares (The “Consideration Shares”) to the Initial Investors: 25,500,000 Ordinary Shares to Oceanic Expert, 2,000,000 Ordinary Shares to First Honour Ventures Limited, 2,250,000 Ordinary Shares to Righton Investment Limited, 2,400,000 Ordinary Shares to One Capital Group Investment (Malta) Limited, 2,250,000 Ordinary Shares to Lim Koon Keong, 2,350,000 Ordinary Shares to Thomas Tan Hock Nieh, 2,750,000 Ordinary Shares to Midasi (Malta) Investment Limited, 3,250,000 Ordinary Shares to Pioneer Sky Investments Limited, 2,100,000 Ordinary Shares to East Sincerity Capital China Co., Ltd., 2,250,000 Ordinary Shares to Eternal View Investments Limited and 1,900,000 Ordinary Shares to United Talent Investments Limited.
brwo349
13/11/2016
14:53
The chart is a big clue. On listing at 70p it looked a fantastic bargain. 12 months later the shares are down to 10p on hardly any volume. How can it go from fantastically cheap to so off-the-scale cheap that its the cheapest stock in the world ever!
brwo349
13/11/2016
14:50
Miracle Yap non-exec director. Where have I heard that name before. Oh yes, Camkids.
brwo349
13/11/2016
14:36
galeforce I now believe that any Chinese businesses that subsequently list on AIM are frauds. That should be the default position of all investors. Why? Because no-one with a great business would list on AIM after seeing the financial carnage wrought on these companies. If you were a Chinese businessman who owned a great, profitable business would you try and get it listed on AIM. Absolutely not! Therefore there is only 1 conclusion here.
brwo349
13/11/2016
09:55
BRWO Oh dear, you seem to have a real bee in your bonnet about this one! But all input is welcome, even if it's a bit one-sided. The mackerel contract is with 2 Scottish companies - Pelagic in Peterhead and Lunar Freezing of Frazerburgh. Combined, these are for over 1200 tonnes of mackerel a year, and this represents more than 1% of AFG's turnover. 1200 tonnes of mackerel is hell of a lot of fish. In fact, AFG is one of the larger customers for Scottish fish. The wholesale price of mackerel is around £1200 a tonne, I believe. This is a decent, solid business. If you think China is systemically corrupt then don't invest and take a look at something else. There are lots of great UK companies to invest in instead. Pity that so many of them are up to their ears in debt, pity that they may be about to leave the Single Market, but there you go. Some investors are more comfortable investing close to home, and I can understand that. Chinese companies on a PE of 1 are not for everybody.
galeforce1
12/11/2016
17:54
hxxp://www.shareprophets.com/views/18767/aim-china-fraud-aquatic-foods-chinese-water-torture
brwo349
12/11/2016
17:49
hxxp://www.shareprophets.com/views/13734/aquatic-foods-group-plc-yet-another-aim-listed-china-norfolk Why have the shares crashed, with only good news in trading updates – and, indeed, a ‘know-of-no-reason’ RNS in the face of the share price decline? Why has Mr McLean stepped down from this poster-boy for all that is good about AIM-listed Chinese companies (apart from the share price)? Why is the company trading at a substantial discount to cash, and (at worst) on a par with net unrestricted cash, yet is awash with the stuff in ever growing proportions and company growth is around 25%? Could it be that as with, say, Jiasen (JSI) nobody believes the numbers? Given the recent history of AIM-listed Chinese outfits, who would take the risk here? Given the lack of action by the FCA, AIM Regulation, the LSE and all the other regulators which could have stepped in over Naibu (it is not as if they weren’t warned) and now the quiet delisting of Sorbic and Gate in the wake of unexplained Nomad resignations, what reassurance is there for investors that this is not just another Norfolk? Aquatic just could conceivably be the bargain of the decade, but as with Jiasen which currently trades on a discount to (claimed) cash of about 80% and sitting on an historic yield of 80% plus, who would take the chance? Are the numbers presented just codswallop, shoal upon shoal of red herrings presented by a shiver of sharks? (ok, enough cheap fish gags…) But In the absence of the LSE showing any sign of taking its responsibilities seriously (other than to grab as much money as possible in the short term, and allow the crony capitalists to do the same) this has to be yet another AIM-Casino China bargepole stock. - See more at: hxxp://www.shareprophets.com/views/13734/aquatic-foods-group-plc-yet-another-aim-listed-china-norfolk#sthash.yGf5joqp.dpuf
brwo349
12/11/2016
17:36
There is the other obvious question. Nearly every Chinese stock that lists in London has been a financial disaster for shareholders. The shares tend to start falling immediately after listing. So why would any legitimate Chinese business ever consider listing on the London market? Why? Why? Why? If you owned a successful, profitable Chinese company the last thing you would do would be to list on the London markets because you know the company will never be properly valued because of the dozens of previous Chinese frauds. Why not list on the Chinese markets or another Asian market. The reason you list on the London AIM market is because of the light regulation. It's far easier to list a fraud there and it seems there is little risk because no-one seems to get prosecuted. AIMHO. DYOR.
brwo349
12/11/2016
17:36
There is the other obvious question. Nearly every Chinese stock that lists in London has been a financial disaster for shareholders. The shares tend to start falling immediately after listing. So why would any legitimate Chinese business ever consider listing on the London market? Why? Why? Why? If you owned a successful, profitable Chinese company the last thing you would do would be to list on the London markets because you know the company will never be properly valued because of the dozens of previous Chinese frauds. Why not list on the Chinese markets or another Asian market. The reason you list on the London AIM market is because of the light regulation. It's far easier to list a fraud there and it seems there is little risk because no-one seems to get prosecuted. AIMHO. DYOR.
brwo349
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