China Medical Share Discussion Threads

[bench2] 30/4/2010 13:42

Dual listing would be good , but we are likely to lose the AIM listing a la WCC

[thebigsheep2] 30/4/2010 07:50

Re:dual listing. Does anybody have a view on whether it's best to hold on AIM or HK? Arbitrage should equalise the price and dealing costs are lower on AIM for UK PI's. 1st experience of dual listing so all thoughts welcome.

[dasv] 29/4/2010 16:19

cool - HK listing ;)

[stegrego] 29/4/2010 15:04

I thought they had already applied?

Ah well - good to see.

[simon gordon] 29/4/2010 14:52

China Medical System Holdings Ltd. (AIM: CMSH), a leading provider of sales, marketing and promotion services for prescription pharmaceutical products in China, is pleased to announce that an application for a listing of the shares of the Company on the main board of The Stock Exchange of Hong Kong Limited ("HKEx") was made today.

The listing of the Company's shares on the main board of HKEx is subject to, amongst other things, the approval of the listing sub-committee of the board of directors of the HKEx. There will be further announcements to the market as and when appropriate.

[3800] 26/4/2010 17:36

Hi boadicea, thanks for the reply I was just wondering what everyone else was doing over this.
3800

[boadicea] 26/4/2010 16:42

3800 - As it was in effect the proceeds of surrendering your shares in the demerged entity it must surely be considered either as a partial (but marginal) disposal or a return of capital.
In view of the small amount it may possibly qualify for treating as a reduction in your original cost which will have the effect of increasing your gain in due course.
I am NOT a tax expert, so dyor - or do as I do and put it in as what seems common sense and wait till challenged.

[dasv] 22/4/2010 11:58

and there's 600p

[thebigsheep2] 15/4/2010 18:52

Thanks Steg. Can't help feeling they are not moving as fast as WCC.

[3800] 15/4/2010 11:57

Hi there does anyone know how the demerger of healthlink last year is to be treated for UK tax purposes? Is it a capital disposal subject to CGT or a dividend subject to Income tax?
3800

[dasv] 15/4/2010 11:36

Thanks for research guys.

[simon gordon] 14/4/2010 14:56

Phoned Seymour Pierce:

~Plan to list on HK is in train. It is a long and slow process. Not expecting them to delist from AIM upon HK listing.

~No intention to issue a new broker note.

[simon gordon] 14/4/2010 14:01

I emailed HQ on this question on the 8th April, no reply so far.

[bench2] 14/4/2010 12:59

My guess is they will wait and see the reception for WCC when it moves from AIM to HK . No need to hurry

[thebigsheep2] 08/4/2010 21:09

I've scoured the report looking for an update on HKEx listing, have I missed it ?

[dasv] 08/4/2010 10:16

azalea - I would be very interested to know where you put your CMSH profits.

--

I accidentally bought 5x as many shares as I intended yesterday in CMSH - Instead of buying a sterling amount - I was just intending to add £1000 worth to my holdings. Instead I bought 1000 shares. Happily, despite the FTSE falling over 1%, the excellent results are getting noticed it seems. I presume the previous highs will now be tested.

[azalea] 07/4/2010 17:47

I am somewhat disappointed by the MM reaction to the FY results and right or wrong have sold out to put the proceeds elswhere. Good luck to those who continue to holds.

[sandbank] 07/4/2010 09:01

STEGREGO: Hmmm - judging by today's graph you must have bought plenty

[stegrego] 07/4/2010 08:59

Ive bought a back a few here, after selling at 300 odd.

Story looks very solid going forward and growth should continue at a cracking pace.

[azalea] 06/4/2010 11:38

Online buy limit a miserable 250 shares.

[azalea] 06/4/2010 10:37

Cracking FY results out(earlier than I expected) fully justfiying my faith in the companies prospects, all returns up over 30%.

[dasv] 06/4/2010 10:30

I like the outlook statement:-

"Outlook & Summary

According to reports prepared by IMS Health in 2009 on the state of the global
pharmaceutical market (the ¡ IMS Reports¡±), whilst the global pharmaceutical
market is expecting single digit growth as it navigates through the current
challenging economic climate, China¡¯s pharmaceutical sector grew by 26% in 2008
and is expected to drive $40 billion in growth through 2013. According to the
IMS Reports, China was the sixth largest pharmaceutical market in 2009 and will
become the third biggest by 2011. The strategic importance of China for many
Western pharmaceutical companies has become increasingly apparent, but
regulatory and cultural differences have made it difficult for overseas
pharmaceutical companies to directly penetrate the China market. As the leading
marketing and promotional service provider in China for prescription
pharmaceutical products according to the Frost Report, we are confident that we
can assist such companies in entering into the Chinese market.

We have rich experience in cooperating with overseas pharmaceutical companies
and have a proven track record and devoted management team. We intend to
continue to grow our existing products¡¯ market share, as well as expand our
product portfolio to add at least two additional products each year to increase
our revenue. We aim at continuously delivering satisfactory results to our
in-licensing partners, and as our market and therapeutic reach expands, we
believe we can continue to attract new suppliers of quality products.

We look forward to 2010 with confidence, we believe we have the team and
strategy in place to deliver on our above goals. As supported by our strong
cashflow and balance sheet, we are well positioned to capitalize on potential
acquisition opportunities when they become available. "

[dasv] 06/4/2010 10:23

Boadicea - thanks for posting.

Results look good to me and re-inforce CMSH as a low PEG growth stock.

I am happy to hold.

"Forbes Magazine accreditation for 2010 Forbes China Up & Comers"

[boadicea] 06/4/2010 10:03

Surprising lack of interest here for one of the better performing China stocks. The recent pull-back is no worse than one would expect after its large rise during 2009.

The results are very good again (pity that the formatting makes them difficult to follow easily) -


Financial Highlights: (currency US$)
* Sales up 32.9% to $96.5M (2008: $72.6M)
* Gross Profit up 35.9% to $60.9M (2008: $44.8M)
* Net Profit up 38.4% to $20.8 million (2008: $15 .0 million)
* Basic EPS and Diluted EPS up 38.3% and 37.7% to $0.437 and $0.435 respectively (2008: $0.316 for both)
* Total dividend per share for the year up 33.3%, to $0.20 per share (2008: $0.15 per share)

Operational Highlights
* Exceptional sales increase of our in-licensed products:
Deanxit $44.5M 21.1% increase (2008:$36.7M)
Ursofalk $28.3M 34.4% increase (2008:$21.1M)
Stulln $6.1M39.9% increase (2008:$4.4M)
GanFuLe $4.8M22.3% increase (2008:$3.9M)
XinHuoSu $7.3M 155.5% increase (2008:$2.8M)
Salofalk $1.8M 1,271.4% increase (2008: $0.1M)
Cystistat $0.5M680.3% increase (2008:$0.1M)
[end quote]

This puts the shares on a historic p/e of about 16.
Currency movements are trending in its favour for both product sourcing and profit conversion to sterling.
However, there are many China companies with good prospects trading on mid single figure multiples so the share price looks quite high enough for the moment - imho.

I sold my final tranche shortly after the trading/research split and buy-back as I reckoned the share price was getting too far ahead of events but have continued to follow its fortunes at a distance.
I have no reason the think the company will not continue to expand vigorously with the share price following it.
However, I feel there are opportunities for more immediate upward re-ratings elsewhere in the China segment.