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| Share Name | Share Symbol | Market | Stock Type |
|---|---|---|---|
| Naibu Global | NBU | London | Ordinary Share |
| Price Change | Price Change % | Share Price | Last Trade
|
|
|---|---|---|---|---|
| 0.00 | 0.00% | 11.50 | 01:00:00 |
| Open Price | Low Price | High Price | Close Price | Previous Close |
|---|---|---|---|---|
| 11.50 | 11.50 |
| Top Posts |
|---|
Posted at 08/1/2019 01:24 by garycook I have been informed that NBU has been re-instated to the Jersey Registers and therefore are not worthless as previous stated by brokers. |
Posted at 12/7/2016 07:54 by garycook loglorry1,Also have a 7,500 NBU Holding with HL !!! |
Posted at 11/7/2016 00:27 by garycook Has anyone any news on NBU,or the latest updates by the NEDS ? |
Posted at 04/1/2016 16:49 by strollingmolby gnnmartin - it looks like the December update is a RNS-NON ie. it isn't linked to the NBU ticker as the company is delisted. A keyword or company search in another place will show this and any subsequent releases, as follows: |
Posted at 08/12/2015 10:27 by loglorry1 In order to close of a position in NBU by year end I'd be a buyer of stock for a nominal value. Please PM me if interested. |
Posted at 09/1/2015 13:03 by the stigologist Anybody spot when the conman made his trade and when he started ramping it ?TOP Traders Thread !!!! - CR TOPINFO - 08 Jan 2015 - 13:24:44 - 481866 of 482432 NBU Cash If you guys like SORB at mkt cap £2.5 million and cash =£7 million (70 Million RMB) then you wanna look at NBU, mkt cap at NBU £6.6 million and £32 million in cash, (315 Million RMB) yes 5 x current mkt cap!!! |
Posted at 09/1/2015 08:51 by topvest I own shares in Naibu and so have lost money. I am just pointing out that it does look like, with the benefit of hindsight, this company was always listed to sell out minority positions on gifted pre-IPO shares and then take private a couple of years later. Dividends paid are significantly less than placing and costs of listing. Gifted shares all sold for hard currency at the expense of mugs like us. I was hoping this wasn't the case, but it looks like it was. I have no evidence, it just appears the most likely scenario all things considered. The RNS history could have been predicted if this was the original intention. Camkids looks the same as well, but again I hope not.I missed the disclosures hidden away at the back of the prospectuses of Camkids and Naibu with the mysterious gifted pre-IPO shares. This is the failing point of the advisors on both of these companies and a few others on AIM that have done the same thing. So, I thought I was buying a wonderfully profitable Chinese company with a good dividend yield and missed the "overall game plan" which appears to have been to raise some £ cash and then take private again. No evidence that this was definitely the intention, but you have to be pretty stupid to not strongly consider that this was possibly the whole dishonest plan. There is no way this company could have run out of cash so quickly if its cash balances and accounts were genuine or unless something seriously dubious has been going on which would involve the founder and MD no doubt. I suspect we will never find out. I have put this down as experience of what not to do in the future. I have invested in 5 Chinese companies. 2 have done really well and 3 are basket cases. I won't invest in any more as I don't trust the corporate governance and quality of management. |
Posted at 08/1/2015 13:28 by topinfo Did you see what SORB just did these past to days so NBU is even better IMO.NBU Cash If you guys like SORB at mkt cap £2.5 million and cash =£7 million (70 Million RMB) then you wanna look at NBU, mkt cap at NBU £6.6 million and £32 million in cash, (315 Million RMB) yes 5 x current mkt cap!!! Naibu Global International Co PLC Trading Update Alert TIDMNBU RNS Number : 7711X Naibu Global International Co PLC 24 November 2014 Press Release 24 November 2014 Naibu has substantial cash balances (RMB 315 million as at 31 October 2014) and the Directors are confident that the Company has sufficient resources to implement the programme referred to above. |
Posted at 15/9/2014 18:17 by soul limbo Naibu game changerSimon Thompson In all my years writing for Investors Chronicle I have never been in the position where a highly profitable company passes its dividend. However, that’s exactly the position I am faced with Naibu (NBU: 31p), the Chinese maker and supplier of branded sportswear. The board’s decision is even more perverse once you consider that the company had net cash on its balance sheet of RMB333m at the end of June, or the equivalent of £31.7m at current exchange rates. That sum equated to Naibu’s market value prior to news of the axed 2p a share interim dividend in last Friday’s half year results report. Moreover, the company has just reported net profits of £14.4m for the six months to end June so the £1.2m cost of the interim dividend equates to only a twelfth of those post tax profits. And even that doesn’t tell the full story because 52.55 per cent shareholder and executive chairman Huoyan Lin opted to receive his final dividend of 4p a share for the 2103 financial year in shares when it was paid last month. In other words, if the board had maintained the 2p a share interim payout, and Mr Lin had as expected opted for the script option again, then Naibu would only have needed to find £575,000 in cash to pay a 2p a share interim payout to the minority shareholders owning the balance of 28.7m of the 60.5m shares in issue. That’s a tiny sum of money for a company that made net profits of £14.4m in the six month period and one that house broker Daniel Stewart still expects will turn in post tax profits in excess of £26m for the full year. It’s also a tiny sum in relation to the £102m of stocks, trade and receivables on Naibu’s balance sheet. True, the company’s receivables ballooned from £68m at the start of the year following the decision to extend credit terms by an additional month to distributors in May due to the competitive pressures the company is facing. However, if the company can make the £36m of pre-tax profits the house broker forecasts for both this year and next, and pay the £10m tax charge, there can be no justification whatsoever to axe the dividend for both financial years as Daniel Stewart now predict. The decision is even more inexplicable in light of Mr Lin’s comments in his post results statement in which he notes: “As anticipated, consolidation in the sportswear sector has occurred and a number of smaller players have now exited the market. With a substantial clearance of inventory, leaner sales networks, stricter cost control measures and a prudent approach in placing and accepting orders, the stronger sportswear manufacturers are now in better shape and there are some signs of recovery in our end markets.” In other words, this is positive for Naibu’s profits and makes it an even greater outrage that the company should treat minority shareholders in this way. I don’t buy the argument either that the £28.5m capital cost (over the next two years) of Naibu’s planned factory in Dazhu, Sichuan Province, is such a drain on resources either, certainly not for a company making the post tax profits Naibu has been generating, and is forecast to report. I have run through the numbers and this explanation simply doesn’t add up as the capital expenditure on the new factory equates to little over one year’s post tax profits so should be largely funded by internal cashflow. The decision to outsource production from the Quangang facility (due to labour shortages) is not a reasonable explanation either for Naibu to enter a cash preservation mode as this only leads to lower margins on sales and not a cash outflow. In the circumstances, and as unpalatable as it is, the only rational conclusion I can reach for the board’s decision to axe the dividend is that the directors have decided to treat with distain the minority shareholders who have been holding the shares for the 6p a share dividend. That begs serious questions over the company’s decision a couple of years ago to list its shares (at 124p each) on the Alternative Investment Market (Aim). Put simply, if the company is not being run in the interests of all shareholders, and especially the minority shareholders who have backed the company since it floated on Aim, then it should not be listed at all. The only other alternative explanation for the board’s decision to preserve cash, and one that is equally worrying, is that Naibu’s cashflow is expected to deteriorate significantly worse than the reported profit forecasts and capital expenditure plans suggest. But even that is hard to reconcile with a company that reports no bad debts on those receivables despite extending credit terms to distributors. So no matter which way I look at it I feel uncomfortable. Clearly, other investors feel the same way as Naibu shares collapsed from 50p to 30p on Friday, 12 September post the release of the company’s half-year results. It also means that having initially recommended buying the shares at 58p in my 2014 Bargain share portfolio, and even after factoring in the 4p a share final dividend banked, in the absence of dividend support the investment case has been shredded to bits. It also makes my decision to average down at 45p in last month’s article ill-timed (‘Bargain shares: new buying opportunities, 12 August 2014). Analyst Simon Willis at house broker Daniel Stewart has become less upbeat too, having slashed his target price from 200p to 50p noting that the “uncertainty over the timing of the next dividend payment removes the catalyst for an early rerating and we have moved from Buy to Hold.” In the circumstances, I would recommend you exit your holdings too even though you can only recoup 30p a share of your capital. Sell. |
Posted at 12/9/2014 17:05 by kenny Friday, Sep 12 2014 by Paul Scott 15 commentsGood morning! Chinese stocks - I've warned readers here many times about the risks of investing in AIM Listed Chinese stocks, indeed I personally have a permanent bargepole rating on them all, for a variety of reasons - the main one being that things are very often not what they seem. So you cannot rely on any facts or figures about these companies, hence they are impossible to value. There are numerous other red flags, such as constant insider selling, accounts that don't stack up - e.g. huge debtors (nearly always the biggest "tell" that something is wrong), negative cashflow despite big profits, unrealistically high profit margins, etc etc. I just treat the accounts of Chinese companies as works of fiction, it's safer that way. Which brings me on to; Naibu Global International Co (LON:NBU) Share price: 36p No. shares: 58.6m Market Cap: £21.1m Shares in this maker of sports shoes have looked inexplicably cheap for a while, with the PER hovering around 1. That's nearly always a sign that things are not what they seem. I can only think of one situation where a PER of 1 turned out to be the bargain of the year, and that was Trinity Mirror, as I explained in 2012, here, when the shares were just 25p (they 8-bagged in the year or two after that). In all other cases that I can remember, a PER of 1 usually means there's something badly wrong. I've only reported explicitly on Naibu once here, because it has always been under my blanket bargepole rule for Chinese stocks, so there wasn't much point in reporting on the figures. As I explained in my report from 5 Aug 2014 the only point with Naibu that was intriguing, was that it had started paying dividends - which of course made it look as if the company was genuine. At the time people doubted whether the dividend cash would actually be paid, but it was, twice I think? So I was still slightly unsure about whether Naibu could be genuine after all? I was 95% sure it wasn't, but the divis kept a 5% window of doubt open. That window has slammed shut today - the interim results are out today, and follow the usual pattern of high profits but negative cashflow. Despite the large cash balance, the company has cancelled the interim dividend. The reasons given look ridiculous to me - that the cash is required for capex to build factories, despite there being no reason for doing so - 80% of production is currently outsourced, and the company makes about a 20% operating profit margin. So there is no valid reason at all to build their own factory. My opinion - With the dividend passed, I think the game is up now, and these shares have an intrinsic value of zero in my opinion. I think the motivation for the previous dividends was probably an attempt to pump up the share price, to allow more insider share disposals at a much higher price. The market didn't buy that, and the share price remained weak despite the divis, so they've now been cancelled. The next logical step is for the shares to de-list, and investors are highly likely to receive absolutely nothing in the future in my opinion. I could be wrong, but why take the risk, when the evidence is now so clearly pointing towards my view being probably correct? I'm not saying that all Chinese stocks are dodgy, but enough are to make it too risky to bother trying to sort the wheat from the chaff. This table, courtesy of AIM journal, shows the lamentable share price performance of AIM Chinese companies since floating. Bear in mind that the period covered was a boom market for small caps, where most things rose 50-100%, so for so many of these to be negative is very poor. I think this table will look a lot worse in a few months time. Most of these stocks will de-List in the coming months/years in my view, so they are all going on my bargepole list. The spikes up on the chart below were caused by tipsters flagging up the "bargain" shares - very much a case of them not being able to see the wood for the trees I'm afraid. One has to be a bit more shrewd in this game than to just take numbers at face value. Lots of accounts are wrong, and often deceptive, and the fact that they've been audited doesn't make much difference. You have to question everything, and if it doesn't look right, that's often because it's wrong. - See more at: hxxp://www.-.com/con |
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