Bluestar Secutech Share Discussion Threads

[arthurly] 25/11/2010 08:00

Almost bought back a week ago. Very good results but as said above the cash position may hold the shares back as with GNG.

[bill182] 25/11/2010 07:56

Excellent set of figures, with the usual caveat being the reduction in cash and the increase in debtors.

[liarspoker] 25/11/2010 07:52

Very solid results. Number of shares down and net working capital up ( despite decrease in cash which will be majority collected in Q4 bringing cash balance back up ) resulting in a higher net working capital per share. Great growth, divi paying, solid balance sheet....this valuation doesn't make sense. Happy to keep holding.

[bill182] 16/11/2010 08:17

3800....many thanks for the above post. So, the fourth week of this month it is!

[3800] 15/11/2010 20:48

Hi bill182 I had no problem with the website the dates are below, interims on the 24th Nov last year

Date Event
Fourth week of November,2010 Interim Result
30th July,2010 Annual General Meeting
23rd June,2010 Final Audited Results
Fourth week of January,2010 Trading Update
Fourth week of November,2009 Interim Result
Middle of October,2009 Trading Update
27th July,2009 Annual General Meeting
23rd June,2009 Final Audited Results

[bill182] 15/11/2010 14:34

The company has gone very quiet, with no news since the contract win in August. I can't access the company's website at the moment to see if they have announced when the Interims will be released. Does anyone have any further info.

I was expecting a decent set of figures based on previous announcements, but the lack of news does concern me a little.

[liarspoker] 02/11/2010 21:33

In reply to Rivaldo's post:

rivaldo - 2 Nov'10 - 21:05 - 15792 of 15793


Liars, BSST does look cheap, but not half as cheap as GNG imho. GNG in particular has the wonderful defensive characteristcs of high recurring income, locked-in clients, high barriers to entry etc. From memory BSST has little or no recurring income, though I think I remember they're trying to change that?

GNG also has the backing of IBM, Oracle, Microsoft and SAP. How many £14m m/cap companies can say that? Or that they're looking to expand in potentially huge markets in Indonesia, Japan and Europe with IBM and Oracle's backing? Whereas BSST is only domestically focused (again from memory).

Not knocking BSST particularly as I say - they're cheap - but I see no comparison to GNG in terms of quality of management, product, potential etc etc.

Indeed BBST are trying to generate recurring income. A snippet from the last FY results:

BlueStar has expanded its marketing focus and strategy to strengthen its
position in this challenging time. These include the penetration into new
sectors and co-operation with government security agencies. Under the first of
these co-operation agreements (which was announced in July 2009), the
surveillance center developed with Kaiyuan Company is now fully operational.
This center provides surveillance monitoring and mobile security guard services
to banks and ATMs in Beijing. Under this agreement, BlueStar received the first
recurring monthly service fee in January 2010 for the initial outlets which are
utilizing the command centre's services. The Company believes this is a model
that can be replicated in other areas of China in the future and generate stable
recurring monthly income going forward.


Is is true that GNG are trying to expand internationally but China is large and there is a huge market for BSST ( ATM machines etc ) to cover. I am happy that BSST is staying in their own backyard so to speak. BSST also share a number of customers with GNG ie the Chinese banks. It's ok to look forward too future revenues too but I'd rather have jam today not tomorrow ( though TAIH is a different case ) and therefore I'd prefer to focus on a discount to assets. Operationally GNG & BSST are neck and neck when it comes to all types of 'performance' metrics such as ROE, ROTA, FCF/EV or EV/FCF of course etc. There's not much in it at all but I prefer BSST due to the discount to net working capital and the 4% divi. It makes the waiting till fair value is reached much easier. :O)

[bill182] 02/11/2010 15:22

Could be quite an astute buy, as I think the interim results could be very positive. I bought a few more last week, so let's hope we called it right!

[liarspoker] 02/11/2010 14:42

Got a few more today. :O)

[bill182] 29/10/2010 09:18

kfp - what do you mean, or is it a typing error!

[kfp] 29/10/2010 08:55

Interim results 23-Nov-2009

[bill182] 28/10/2010 13:47

Some relatively high volume of shares traded yesterday, followed by a 0.25p rise today. Now, where is the trading update!!

[bill182] 21/10/2010 11:06

Given the poor trading performance in the first six months of the last trading year, I am expecting a significant improvement this year in both revenues and profit for the corresponding period. The company was quite bullish when they released the full year results, and we have only been notified of one significant contract win since then.
With the current mkt cap of £15.47m v NA's of circa £26m, I still see this being well undervalued.
I have added again today, as I am anticipating a trading update anytime now, and trust that my confidence is proved right...we shall see.

[gelp] 13/10/2010 10:16

Thanks Measureguy. I am holding long term.

[bill182] 11/10/2010 16:40

We should be due a trading update this month, given that the company has issued statements in the previous two years. Hopefully, we will also receive further news on contract wins!

[masurenguy] 14/9/2010 08:05

A holding announcement explaining the large trades that went through on August 27th. Heartland Capital Management increased their stake from a nominal 0.25% to 5.24% by acquiring 3.64m shares.

[theuniversal] 27/8/2010 18:24

i think as a dividend 0.5 to 0.84 roughly 70% up, the ceo said the other year he hopes to add at least 20% each year to the dividend, to me i hope they can add more to that min figure like they did this year...

[boadicea] 27/8/2010 16:52

I would expect it to lead to a holdings disclosure.

[masurenguy] 27/8/2010 14:14

It appears that 7.6m shares were traded in two tranches of 3.8m at the midprice of 23.5p. This represents 10.4% of the shares in issue and yet it had no impact on the price. This would suggest that this was possibly a broker to broker or a large holder to large holder trade.

[gelp] 27/8/2010 13:31

11+m shares bought?

[masurenguy] 20/8/2010 08:54

Dividend payment due today !

[masurenguy] 16/8/2010 13:04

Good contract win !

BlueStar SecuTech, Inc.
16 August 2010

RMB21 Million Order

BlueStar SecuTech Inc, a leading provider of digital video surveillance solutions in China, is pleased to announce that it has received a further order from the Bank of China. The order, worth approximately RMB21 million (£2.0m), will see BlueStar supply and install its leading edge surveillance equipment for Bank of China ATM machines within eleven cities in China. Installation of this equipment is expected to be completed by the end of September 2010.

The Bank of China ("BOC") is one of China's four state-owned commercial banks and one of the worlds largest. It provides a comprehensive range of high quality financial services to individual and corporate customers along with financial institutions worldwide.

Commenting on the contract win, Xiao Gang, Chief Executive of BlueStar said: "We have been providing surveillance equipment for Bank of China's entire ATM network within China since 2007. This is the first batch of orders from Boc in 2010 and demonstrates both the high quality of our products and the continued confidence that customers like BOC have in BlueStar."

[bill182] 16/8/2010 11:25

Very positive RNS..£2m order, which is the first batch!!! Hopefully we should see a stream of positive news in the coming months.