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LCP Lon.Asia China

13.00
0.00 (0.00%)
28 Mar 2024 - Closed
Delayed by 15 minutes
Share Name Share Symbol Market Type Share ISIN Share Description
Lon.Asia China LSE:LCP London Ordinary Share GB00B0XF7K04 ORD 1P
  Price Change % Change Share Price Bid Price Offer Price High Price Low Price Open Price Shares Traded Last Trade
  0.00 0.00% 13.00 - 0.00 00:00:00
Industry Sector Turnover Profit EPS - Basic PE Ratio Market Cap
0 0 N/A 0

London Asia Chinese Private Eq.F Share Discussion Threads

Showing 101 to 124 of 225 messages
Chat Pages: 9  8  7  6  5  4  3  2  1
DateSubjectAuthorDiscuss
18/6/2007
08:01
For those of you with decent knowledge of London Asia, is there an image / historical problem with the City boys? Doesn't seem very well regarded in the square mile, I just wonder if there is any particular reason?
damanko
18/6/2007
07:29
For today's acquisition they used the Devotion proceeds, I suppose.
buffin
01/6/2007
14:51
Yep a few more like that and the share price on lcp will begin to climb up again.
robsy2
01/6/2007
06:31
Excellent results for a company in which the fund holds a 25% stake. annualized results would be about £6.3million, the current market cap is £35.52million so trading at less thaan 6x p/e. The funds stake at this low price is worth about £8.8million, not bad considering they only paid £2.2million less than a year ago.

China New Energy Limited - Final Results


CHINA NEW ENERGY LIMITED
("CNE" OR "THE COMPANY")

RESULTS FOR THE PERIOD 2 MAY 2006 TO 31 DECEMBER 2006
CHAIRMAN'S STATEMENT

I am pleased to announce an excellent set of results for the eight month period
2 May 2006 to 31 December 2006.

HIGHLIGHTS INCLUDE:
* Revenue for the three month trading period of GBP9.9 million
* Profit before tax and share options for the four month trading period of
GBP2.1 million
* Cash at bank of GBP1.1 million at year end
* 4 contracts completed in 2006 and 26 contracts in progress at 31 December
2006

FINANCIAL AND OPERATING OVERVIEW
CNE, incorporated in Jersey on 2 May 2006, is a Chinese ethanol and related
specialist chemicals business. It is China's leading provider of turnkey
technology solutions and equipment for the production of ethanol, edible
alcohol and acetic acid. CNE raised GBP2.2 million in July 2006, and began
trading in early September following the acquisition for GBP1.9 million of a
number of operating assets, technology patents and work-in-progress contracts
from two Chinese companies. The acquisition included signed sales contracts
and work-progress with a contract value of GBP16 million, as well as 72 staff.

The results to 31 December 2006 therefore represent less than four months of
trading. During this time we achieved profit before tax and share options of
GBP2.1 million on revenue of GBP9.9 million, a significant achievement in such
a short space of time.

At 31 December 2006 we had completed four contracts, with a further 22
contracts in progress due to be completed in 2007 and a further four contracts
in 2008. This represents approximately GBP28 million of future revenue.

The accounts have been prepared under International Financial Report Standards
("IFRS"). Under IFRS, we are required to account for a notional charge of the
value of all share options at the date of their grant. As all the options vest
immediately, we are required to account for the full charge in the 2006
accounts as opposed to spreading the value of the options over a number of
years. This has resulted in a one off charge to profits of GBP1.9 million which
has resulted in an accounting loss after tax for the year of GBP0.1 million. As
the full charge has been recognised in 2006 there will be no further impact
from these options on profits in future years.

In September 2006 the Company commenced trading on PLUS.

OUTLOOK
As a result of the increasing global demand for alternative sources of energy,
we expect that the current strong demand for biofuel and biochemical production
facilities will continue. We see the international market as a significant
opportunity for the Company. A number of countries have now set national
targets for the use of biofuels, such as ethanol, as a substitute for fossil
based fuels. As a result of our competitive cost structure and reputation, we
are in discussion with a number of foreign parties regarding new contracts.

In order to extend our presence in the international market, we are using China
based agents to market our services and source new customers in South America,
Asia, Africa and the EU. In January 2007 we signed a GBP2 million turnkey
contract with a Hungarian bio-ethanol producer for the installation of a fuel
ethanol plant using cassava as its raw material input. This is the Company's
second project in Eastern Europe and follows a Romanian contract secured in
November 2006 for a GBP4.5 million bio-ethanol production plant.

The Chinese government has introduced a policy to limit the use of grain in
ethanol production. Consequently, the approval of new corn based processing
projects has stopped. In response to this, we have repositioned ourselves by
shifting resources from the Northeast, China's corn production base, to the
South, where ethanol facilities are being developed using sugarcane and
cassava.

We are continuing with our research efforts, a key part of our long term
strategy, on ethanol production using non-grain and cellulosic biomass, as well
as developing projects to build biochemical plants to produce acetic acid,
ethylene, glycol and butanol with renewable biomass. We recently assisted with
the construction of a bio-butanol plant in Northeast China, a successful
example of our ability in this field. A number of foreign and domestic
manufacturers have visited the plant and discussions are in progress with
numerous new customers to replicate the success of this plant.

At the same time, we continue to develop our operating infrastructure to meet
the expected demand for our products and services. At the end of 2006, our
headcount was 100 and we expect this to increase in line with the growth of our
business.

I would like to take this opportunity to express my gratitude to everyone in
the Company who has contributed significantly to our success to date and laid a
strong foundation for future growth.

Yu Weijun
Chairman

boonboon
29/5/2007
18:11
17-05-2007 QVT Financial + 2,985,000 7,585,000 15.17%
14-05-2007 QVT Financial - 4,600,000 9.20%
14-05-2007 Man Financial Limited - 2,750,000 5.50%
20-04-2007 New Star Asset Management - 4,984,000 9.97%
16-04-2007 Newton Investment Management + 186,293 7,244,449 14.49%
20-03-2007 HBOS plc + 150,000 8,623,008 17.25%
19-03-2007 AXA + 1,330,000 3,587,000 7.17%
22-02-2007 BlackRock Investment Management - 2,500,000 5.00%
29-01-2007 AXA - 2,257,000 4.51%
21-06-2006 Newton Investment Management - 441,844 7,058,156 14.12%

damanko
29/5/2007
15:27
It didn't get hammered because there weren't sellers in the market because the bulk of the shares in the IPO were taken by institutions.
buffin
29/5/2007
14:55
True. And notice that it didn't get hammered when there was a mini collapse in the Chinese markets a couple of months ago. Hopefully when the major correction finally happens over there LCP will again ride the storm.
damanko
29/5/2007
13:56
Good stuff
Given the explosive growth and the boom in share prices, LCP must be very undervalued.

robsy2
29/5/2007
09:28
I certainly like the general idea they have of investing in up and running companies with a track record and then effectively re-engineering them with financial support. I believe that they have quite a strong management in this area but that now they are fully invested they have changed their emphasis from finding businesses to managing them and this has resulted in a bit of firing and hiring!
phbatbjco
29/5/2007
08:52
Yes, not bad at all. Note that QVT has now raised its holding to 20%. I presume this is an investment, not stakebuilding leading to an offer. Given the nature of QVT business model. Good timing, hm.........
damanko
29/5/2007
08:21
interesting profit in the space of 6 months of 120% - lets hope they keep this up on all their other investments!!
phbatbjco
24/5/2007
12:13
interesting 500k gone thru @ 112.75 today. Ideas?
phbatbjco
23/5/2007
11:58
Now I remember QVT, they bought a big chuck of IPX where I hold shares.That deal worked out well for them as well. Lets hope for the same here.
Interesting how the share price of the LCP fund has not moved up given the way Chines stocks have moved up over eth past year ,the apparent quality of the holdings,and the diversification that you get by buying the fund.
LCP looks a very sound investment endorsed by QVT.
Keep the faith
R

robsy2
21/5/2007
18:08
See link below for info on QVT, serious players, strange that with the disclosure of a stake this size - the price doesn't move an iota:
damanko
21/5/2007
16:16
Captain
I don't know QVT? Interetsed to know why you think thye are interesting?
After all the rises in Chinese stocks LCP looks more attractive than ever.

robsy2
21/5/2007
15:01
Interesting QVT are interesting buyers.
capt bligh
17/5/2007
09:21
Phbat - agree, seems interesting. I invested a small lump sum a few months ago, and buy a regular amount through an investment scheme. Couple of points - everything seems to point to a pretty large market correction looming on the Chinese market, looking forward to seeing how LCP copes with that. Also, this stock seems very quiet on the private investor front, not just regarding posts on here (which can be a good thing). But also the volumes traded. Other than the odd RNS with institutions taking up holdings, there is little in the way of trades. In fact each month I can check the paltry amount I purchase through the main LSE page, without having to trawl through page after page of daily trades on ADVFN or similar sites.

I'm looking long term on this, and would like to build up a holding fairly close to the original placing price, 5 years plus LCP could look a lot more interesting, they seem to have good local knowledge on board. Still wonder about the lack of private investor activity though........

damanko
15/5/2007
08:32
This seems to be an interesting little stock, not run of the mill type Chinese investments but looking below the surface at profitable companies that have established businesses
phbatbjco
12/4/2007
16:37
sorry posted these onto LDC Billboard !

A few more clues from the last set of accounts . It is a bit vague but its wither cost or somee other formula if the holdings are not quoted . LDC will be looking for the most vavourable valuation possible sdo they can earn lots of bonus fees!

Excerpts from last acounst for the LCP fund;

"Of the seven investments completed at the period end, one was already listed in
Singapore at the time we invested, and three have subsequently listed on the UK's PLUS
market. The market value of these investments based on the price at which they were
listed or the last available trade price exceeds cost by £10.4 million. The net asset value
of the Fund, using these values, as at 30 September 2006 was £58.5 million, equal to
117.0p per share.
The interim results show assets at fair value in accordance with International Accounting
Standards. In most cases this is cost, except for Asia Water Technology, where trading
volumes on Singapore's SESDAQ warrant disclosure at market value. No account has
been taken of the remaining £10.1 million uplift in value in the Income Statement."

Robsy2 - 12 Apr'07 - 17:34 - 7605 of 7605 edit


and another bit of info taken from the accounts
"For investments actively traded in organised financial markets, fair value is determined by
reference to Stock Exchange quoted market bid prices as at the close of business on the balance
sheet date. The fair value of other investments is determined in accordance with theInternational Private Equity and Venture Capital Guidelines."

robsy2
12/4/2007
16:24
Interesting point for LDC holders .Ldc get 2% fee on the NAV of the fund + a 20% fee on any increase in NAV over and above 6% per annum.
The Nav is easy to calculate if the share is quoted if thinly traded eg PLus markets quoted holdings.
I'll have a look at the prospectus again and see if I can see what basis they use for the rest of the holdings. Whatever way they cut it LDC will earn very substantial fees from this fund.
ROBSY

robsy2
12/4/2007
10:31
Does anyone know how they will value the unlisted investments for an NAV calculation, is it just cost ?

I reckoned that the NAV at the year end, 31/3/07, with unlisted investments at cost was about 120p.

Having said that some of the plusmarket companies hardly ever seem to trade a share so i have no real idea what they would be worth.

It would be handy if some of these listed on AIM. China New Energy for example is worth £35m on plusmarket.

kimboy2
13/3/2007
07:49
RNS Number:8085S
London Asia Chinese Private Equity
13 March 2007


13 March 2007

London Asia Chinese Private Equity Fund Limited
("LACPEF" or "the Fund")


LACPEF, the China focused investment fund, is delighted to provide the following
update on investee companies China Solar, Asia Water and United Envirotech.



China Solar

The company has recently been appointed to carry out two energy-conservation
projects, sponsored by the Chinese government as part of its efforts to conserve
and use energy more efficiently, and improve the standard of living.



The first project, the Demonstration & Research of Solar Energy Roofs in Big
Buildings, is aimed at using more solar technology in the construction of large
buildings, such as sports centres, university and municipal buildings.



The other project is called the Demonstration & Technical Integration of
Courtyard Houses in Northern China, and is aimed at developing more energy
efficient housing for farmers in the north of China, where the temperature drops
below freezing in the winter and is hot in the summer.



Asia Water Technology ("Asia Water")

Asia Water, the Singapore listed water purification and wastewater treatment
specialist, announced an 34.5% increase in profits attributable to shareholders
in Asia Water to RMB 53.3 million (#3.6 million) for the year ended 31 December
2006, following a year of successful expansion into large-scale municipal and
industrial water treatment projects.



Asia Water's ability to meet the stringent requirements in water treatment has
resulted in 37 new water treatment projects in FY2006, including Asia Water's
second nuclear power plant water treatment project contract - Qinshan Nuclear
Power Plant water treatment project worth RMB 34 million (#2.3 million). As at 1
January 2007, Asia Water's order book stood at over #20 million.



United Envirotech Ltd ("UEL")

UEL recently announced that it has secured an engineering contract worth RMB 40
million (#2.7 million) from The China Petrochemical Corporation (Sinopec)'s
Luoyang Branch.



The 18,000 cubic metres per day membrane bioreactor (MBR) plant will treat
wastewater from the Sinopec Luoyang's oil refinery plant. This is the second
MBR project awarded to UEL at the Luoyang branch, following the 4,800 cubic
metres per day MBR system, treating wastewater from the facility's downstream
PTA line in 2004. Under the new contract, UEL will upgrade the client's
existing wastewater treatment facility by converting it into an MBR System. The
project is expected to be completed by March 2008.



The advantages of the MBR technology include excellent water quality when
treated, a small foot print and the ability to handle high levels of
contaminant, thereby helping the facility to comply with more stringent
discharge limits. The system also allows the recycling of treated water to be
re-used as coolant.



Simon Littlewood, director of the Fund, said: "At the recent National People's
Congress, Premier Wen Jiabao stressed the Chinese Government's commitment to
more energy efficient economic growth, and raising the standard of living for
the 600 million rural population. We believe that China Solar, Asia Water, and
Untied Envirotech will all benefit from the increased emphasis in China on
alternative energy, clean water and waste treatment."



For further information please visit www.londonasiafunds.com or contact:


John West/Andrew Dunn Simon Littlewood Hugh Field
Tavistock Communications London Asia Capital Collins Stewart Europe Limited
Tel: 020 7920 3150 Tel: 020 7355 7928 Tel: 020 7523 8000




About China Solar Energy

China Solar's core business is the design and manufacture of solar energy
buildings in China, based on its patented solar thermal technology. The Company
designs and constructs large scale municipal, commercial, academic and leisure
buildings on a Build, Own, Transfer (BOT) basis, incorporating its own patented
solar thermal technology. Its key customers include the Chinese Government, real
estate developers and resort owners.



The Company has also developed an efficient, solar thermal heated and cooled
house, designed to meet the requirements of the Chinese Governments' program for
providing affordable, energy efficient housing to the rural population, which
makes up around 600 million of China's population.



China Solar Energy Ltd is a Jersey incorporated holding company with a Chinese
operating business headquartered in Beijing.



About Asia Water Technology Ltd.

Asia Water Technology Ltd. is a Singapore listed company engaged in total
engineering solutions for water purification and wastewater treatment systems.
Its business is primarily conducted through its subsidiary in China, Wuhan Kaidi
Water Services Co., Ltd. ("Kaidi Water"), which owns its own patented core
technologies and works closely with leading technology partners in the
international and local water treatment arena.



For more information on the company, please visit:



About United Envirotech Ltd

Singapore Mainboard-listed United Envirotech Ltd., specializing in water
treatment and reclamation using advanced membrane technology, provides
environmental engineering solutions to a wide range of customers in the
chemical, petrochemical, pharmaceutical, and wastewater treatment industries.



The Group's track record includes building what it believes to be the largest
industrial "New water" plant in the PRC that uses its Continuous Membrane
Filtration ("CMF") and Reverse Osmosis ("RO") technology, as well as what it
believes to be one of the largest industrial wastewater treatment plants in
Asia, in terms of treatment capacity, using its Membrane Bioreactor ("MBR")
technology.



Through the years, United Envirotech has established strong working relations
with their customers, which enables them to secure future contracts or referrals
to new customers. Some of United Envirotech's major customers includes China
Petrochemical Corporation ("Sinopec"), China National Petroleum Corporation ("
CNPC"), China National Offshore Oil Corporation ("CNOOC") and Singapore
Sembcorp.



Membrane Bioreactor ("MBR") is a wastewater treatment technology which combines
membrane separation and biological wastewater treatment. MBR revolutionalised
the traditional biological treatment process, drastically shortens the time and
reduces the space for the treatment process. MBR is also more resilient to the
sudden increase in contaminant concentration and variances in wastewater
quality, hence delivering reliable and good treatment performance.



Continuous Membrane Filtration ("CMF"), is a water treatment technology that
utilises microfiltration process to achieve removal of submicron contaminants in
water.



Reverse Osmosis ("RO") is a process that reverses (by application of pressure)
the flow of water in the natural process of osmosis so that it passes from the
more concentrated to the more diluted solution.

buffin
01/3/2007
10:20
Asia water profits rise 34.5%
boonboon
22/2/2007
15:09
Blackrock have now got 5% of the fund I see.
robsy2
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