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| Etf Name | Etf Symbol | Market | Stock Type |
|---|---|---|---|
| -3x Short China | CHNS | London | Exchange Traded Fund |
| Price Change | Price Change % | Etf Price | Last Trade
|
|
|---|---|---|---|---|
| 0.15625 | 1.91% | 8.3483 | 16:35:28 |
| Open Price | Low Price | High Price | Close Price | Previous Close |
|---|---|---|---|---|
| 8.3483 | 8.192 |
| Top Posts |
|---|
Posted at 11/10/2011 15:28 by philw2009 So I guess that's it! They're going to take my shares by force.Bye bye CHNS, it was fun whilst it lasted. |
Posted at 05/8/2011 03:55 by zangdook Well, I'm trying to reconstruct what the letter might say. It sounds as though we're being asked to approve a compulsory purchase of all shares; ie not being asked to offer our shares at present, though clearly approving compulsory purchase carries that implication. Since the directors hold over 90%, this approval is simply a formality; it makes no difference whether we vote or not. So it seems to me that the thing to do now is keep quiet (on principle I can't vote on a motion I haven't seen) and when they come back to buy the shares I'll have to see how the purchase is presented (assuming my broker deigns to let me see the documents). When this happened with CBI their notice of redemption read (in part): If you do not agree that the redemption price of GBP0.165 per share represents the fair value of the Remaining Shares, you have a period of 30 days ending on 20 September 2010 to agree a redemption price for the Remaining Shares with the Company. Following 20 September 2010, the provisions of section 179(9) of the Act shall be applicable and you will have the right to designate an appraiser who will fix the fair value of the Remaining Shares together with an appraiser appointed by the Company and an independent appraiser and the value fixed by the appraisers shall be binding on you and on the Company. If the redemption agreement is not returned by 20 September 2010 and you have not contacted the Company to agree a redemption price before 20 September 2010, you will be deemed to accept the redemption price of GBP0.165 per share and your shares will be redeemed by the Company at that price. However, CBI was incorporated in the BVI. CHNS is incorporated in the UK, so the rules may be different. I did once have some shares compulsorily purchased here and I don't recall being asked if I thought the price was fair. Does anyone here know more about this? |
Posted at 04/8/2011 13:05 by liarspoker Mattjos, CHNS state in the shareholder letter that subsidiaries will be closed for the moment. I intend to sell. 380p will do me. Nicel ittle short term gain for what I thought would be a longer term hold.JT - good thinking but my letter is already in the post. Zangdook - in short: business is terrible due to lead poisoning elsewhere. This is having a knock on effect on the industry. |
Posted at 26/7/2011 09:47 by philw2009 CHNS website seems a bit broken at the moment! Hope they're getting it ready for news of HKG listing. |
Posted at 30/3/2011 22:50 by edmundshaw I first bought China Shoto in Feb 2006. Along with 10 other chinese stocks over the years, most from early on. I felt like "Dr. China", at one stage well over 60% of my portfolio was in chinese stocks. The only two that have disappointed were Haike and RCG (of which I only really regret RCG as being a bit slow to realise the problems there). Somehow, I have avoided the worst rip-offs. Just lucky I guess ;-)It has been a great ride, but, yes, company by company it is coming to an end. Only 4 left now on AIM, sadly, and one of those a bit of a punt if I am honest. All undervalued, naturally. Though not as egregiously as CHNS (and, previously, WCC and ACHL). The profits have been life altering, I have no complaints. OK, reminiscences over (for now) :) If I haven't said much over the last couple of years on this BB, it is because it is all said rather well by the likes of Matt & rivaldo, to name the obvious posters. Thanks to them for saving my typing finger! On reflection, I shall not follow CHNS when it leaves AIM, though I shall be interested if it appears later in HK. The liquidity and lack of transparency between continents becomes too much of a risk for me, unlike with the "relisters". But I expect I shall continuee to follow the company via their web site. |
Posted at 30/3/2011 13:54 by calahan Sorry to see this one go for a little on the cheap side when considering those results, and hugely on the cheap when considering the results CHNS are likely to produce it the future :(I've been in CHNS since around Mar '06, and was very happy to hold for 10+ years to allow their value to fully mature. I'm in decent profit overall, but some very badly timed top-ups saw me miss out on a lot of the potential gains (tripling up after the first break of 200p, and at the highest price from launch to mid '09 was a particularly costly one :(). Tempted to hold after the de-listing in order to see the journey through until the end, but I know reality will dictate I won't be able to tie-up such a large chunk of my assets in a hard to reach form. Although I might let some ride for the loyalty. Mainly posting as I'd like to thank all those who have posted on this thread over the years that IMO helped make it one of the most pleasant and well informed threads to read on these boards. In particular I'd like to thank JTCod, who's initial research and contributions got me interested (and ultimately invested) in CHNS to begin with. And much thanks as well to Mattjos and Rivaldo who provided some invaluable research and opinions throughout the years, which helped bolster my faith no end on some of the darker days that this journey has seen. With the dip below 100p that we had being a particularly tough test of belief. And I must say all credit to Rivaldo for getting out when he did, as that was a great piece of top calling that I wish I had heeded to at least bank some profit. Ah well, live and learn :) Thanks again to all those who (positively) contributed to a great thread and (at times rollercoaster) journey. Best of luck everyone in your future endeavours and investments. Calahan (a CHNS investor, and virtually silent thread follower, for 5 years) |
Posted at 30/3/2011 08:21 by rivaldo Well done to holders. I wasn't holding, though was thinking of getting back in if the results and outlook were up to scratch. The results were OK, but with a downbeat outlook, and I think holders would have had to wait a long time to achieve 380p again ordinarily. On balance therefore it's probably better to have a bird in the hand as of now.It's a shame though, as CHNS is a quality company. Perhaps some of the CHNS money will be recycled into the likes of GNG and PMHL (he said hopefully!!). I can see PMHL going the same way as CHNS eventually if the share price doesn't improve, but believe GNG will continue on AIM given the Board's enthusiasm for visiting the UK and liaising with shareholders plus the likes of Patrick Evershed's keenness on GNG. |
Posted at 22/1/2011 11:15 by rivaldo Maxk, as alreadyb stated the above article from Investors' Champion is completely incorrect!He's used the figures from 2008 as his benchmark, not from 2009 - this makes a HUGE difference to his calculations and the thrust of the article as he should be looking at a drop from £23.5m, not £10.3m :o)) He should withdraw his article pronto and revise his stance somewhat given that CHNS actually BEAT forecasts by 15%... CHNS produced 70p EPS - up from 43p EPS two years ago. Pretty good compound growth, as noted by others here, interrupted by an exceptional year last year in which CHNS earned 98p EPS. It's worth noting that CHNS had £40m net cash (including short-term investments) at 31/12/09 - this could now be anything between £50m and £58m. Not bad against a £64m m/cap. even when taking liabilities into account. |
Posted at 16/9/2010 12:55 by rivaldo CHNS' results are an interesting conundrum as usual :o))The initial market reaction was of course bonkers given 21.6p EPS for H1 alone. If anyone got shares at 150p or so then congrats. Positives EPS performance is good despite increased tax etc. Will tax rates fall in future with CHNS' "green" initiatives? CHNS have reacted quickly and cut costs accordingly The recycling facility is expected to expand and boost profitability in H2 Balamnce Sheet/cash looks solid despite poor cash flow as usual in H1. This should pick up, again as usual, in H2 Negatives The outlook is opaque and gives no indications as to full year performance, despite already being near the end of September. One could say that the statement that H2 is normally better than H1 is a small clue, but who knows? The lack of an interim divi is a small negative, but they've done this at least twice before and paid a full divi at the year end, so not really a sign of anything in particular Exports aren't growing as fast as hoped in replacing domestic sales The lead price linkage scheme didn't work in CHNS' favour as in the past Conclusion A real curate's egg again. I won't be reinvesting just yet given the lack of clarity going forward - things really could go either way. But for holders I can't see the share price falling much either given the high tangible net assets, CHNS' domestic leadership in its sector etc etc. Could CHNS even become a bid target at these levels I wonder? Obviously the head honcho and his plans and needs going forward are key. It's fascinating to watch the ups and downs of companies like this over time. |
Posted at 03/5/2010 07:59 by rivaldo Hi chaps. Note that I sold a large chunk of CHNS stock, but I still retain a few.I sold for a variety of reasons (apart from wanting to bank a multibagger profit!): - having initially bought PMHL at around 102p and topped up since, Friday's RNS from PMHL means they have around 230p of cash, another 60p's worth of quoted investments and an iron ore business which should be booming and worth say another 50p or more. I have bought more and fully expect the price to rise nicely tomorrow and going forward. In contrast, I can see a hiatus at CHNS until the new broker forecasts come out and the roadshow begins in June. - re my earlier posting on the Indian ban on Chinese telco equipment, I have to disagree with subsequent posts. I believe that CHNS battery sales there follow on from sales by its partners Huawei and ZTE. No Huawei and ZTE sales = no CHNS sales. India apparently began blocking Chinese telecom sales some time ago (after the 2008 Mumbai attacks). This may help explain the dramatic decrease in CHNS exports in 2009. Thus, given the caution in CHNS' outlook statement re domestic sales, it is possible that CHNS is under pressure on both fronts for 2010. CHNS remains an excellent company. It's possible that the cautious outlook is simply CHNS being ultra-negative again, as it always is. It's also possible that the Indian ban may be rescinded at some point. But given the above, I felt it necessary to be prudent and lock in gains - particularly as PMHL appears to be such a near-term guaranteed winner whilst CHNS merely consolidates. |
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