Camkids Share Discussion Threads

[silkywhite] 06/1/2015 15:01

Camkids Group plc (AIM: CAMK), a leading Chinese designer, manufacturer and distributor of branded outdoor clothing, footwear and equipment for children and teenagers, today announces a strong set of interim results for the six months ended 30 June 2014.

Highlights


Revenues increased by 5.8% to RMB 458.8 million (approximately £45.9 million) (H1-2013: RMB 433.7 million) despite no longer manufacturing OEM and ODM (which accounted for 4% of revenues in H1-2013)


Gross profit rose by 5.5% to RMB 175.0 million (approximately £17.5 million) (H1-2013: RMB 165.9 million)

EBIT* increased by 3.5% to RMB 126.0 million (approximately £12.6 million) (H1-2013: RMB 121.7 million)

Net profit after tax rose by 0.5% to RMB 90.6 million (approximately £9.1 million) (H1-2013: RMB 90.2 million)

Earnings per share of RMB 1.20 (approximately 12.0 pence) (H1-2013: RMB 1.20)


Net cash position 68.6% higher on 30 June 2014 at RMB 485.5 million (approximately £48.6 million) (30 June 2013: RMB 288.0 million) representing 64 pence per share


Interim dividend of 2.4 pence per share in scrip or 2.0 pence per share in cash (H1-2013: 2.3 pence per share) declared as part of the Company's continuing commitment to paying dividends (largest shareholder commits not to increase his shareholding percentage through scrip dividend)

[silkywhite] 06/1/2015 14:42

50p first stop

[silkywhite] 06/1/2015 11:02

The Board is aware of a number of recent media articles written on Chinese companies currently listed on AIM. These have mainly been in response to fluctuations in dividend payments and concerns on the commitment of those companies to AIM. The Board believes that this media environment has had a negative impact on the Group's share price.

The Board notes that Camkids is different in terms of product range, target market and competitors profile from these companies and considers that it should be considered on its own strong fundamental. Camkids, as the leading brand in the children outdoor segment in China, is quite different from companies operating in the much more competitive performance shoe market, and adult market. In essence, Camkids is an aspirational lifestyle brand dedicated to children.

[silkywhite] 06/1/2015 11:01

guys
camkids is not like the other chinese companies. This is a great and very undervalued business

[philjeans] 30/12/2014 12:35

I hold but am very well aware that initial seed investors will continue to sell, at virtually any price they can get, to recover their fees for the float.

This is not an investment for them, merely a way to get sterling cash in the UK for very little work!

So be prepared for continuing heavy sales as soon as sufficient buyers appear.

I'm also in CTEK - China Chaintek which looks a much more positive punt. CTEK has also been hammered by Shorters and the lies and anti-Chinese scammers like TW and his cronies. However, the CTEK website is excellent; the recent T/S was very bullish; they have no debt; cash reserves are enormous, eclipsing the M/C and the business is growing quickly - it is a logistics company with warehouses, trucks etc and so nothing spivvy! - and pays super divs. More importantly there is no overhang - four UK institutions hold large stakes and so the free float is tiny. Utilico bought more in recent weeks. Worth an investment I believe - take a look - the site is deadly quiet - I think I'm the last man standing! DYOR as ever.

[graham1ty] 29/12/2014 09:13

Edmundshaw, now it is up to the Board of CAMK to respond with a serious proposal for enhancing value. They are about to enter closenperiod and the danger is we hear nothing until about April. they could put out a year end trading statement, but they could say anythiand the market wwould not belevee them. Needs proacttive campaign to realise value. Over to you Directors

[edmundshaw] 26/12/2014 14:41

Another sino-AIM company Tinci Holdings has on 22/12/2014 decided to delist. Having seen their share price collapse from 70p to about 4.4p they decided enough was enough and are offering shareholders 20p(!!) in order to exit the UK listing.

Hopefully this will wake a few up to the merits of the ridiculously low price of a few of the sino-AIM companies. Sure there are some disasters amongst them (there are a few too in small UK AIM companies), but that does not merit the discount we are seeing here, for example.

[nashwan123] 24/12/2014 12:20

Whatever concerns re CAMK I received my dividend for the second time, so wait and see what happens next!

[philjeans] 18/12/2014 14:34

Nice BID today for another Chinese stock hammered by the shorters - FTO.

Up currently 50% and a lot more to come if the bid succeeds.

Don't rule it out here - must be very tempting for the directors!!

Raging BUY, as is CTEK - currently up 21% today..

[philjeans] 15/12/2014 17:02

Posted on NBU earlier today: second half confirms what I have always thought - namely that Tax Records are kept private and only accessible through tax offices.

Never believe the Shorters' lies and scams!

Great opportunity here as buyers return.

$$$$$$$$

g8ta 15 Dec'14 - 12:10 - 1350 of 1350 0 0


I sent an email to the FD, Ms Zhen Li, a couple of weeks ago to ask if there were any illustrations of the Dazhu complex. I've put the two she sent me on photobucket with the other stuff.



This complex will cost £30m+ and one of the reasons for temporarily stopping the divi. Ms Li says the local govt. authorities have cleared the land ready for building.

I also asked if it is possible to view company tax records online in China. Her response was:

“Re the internet for tax information, I'm afraid it is not possible to view a company's tax record in the public domain. The figures can only be examined in the systems of tax authorities. The Company's tax filing has been checked by our auditors, which is a standard audit procedure. “

And I should think that applies to every other country in the world.


$$$$$$$$$$$$

[mrmark01] 09/12/2014 22:31

Out at a loss...

[nashwan123] 07/12/2014 22:18

Purely lack of sentiment and ever falling share price Its a judgement call to ask when enough is enough. Again it appears trust and transparency is in short supply here. However for the brave the dividends alone are a no brainer at this price.

[edmundshaw] 05/12/2014 17:35

Thanks for sharing that. What exactly prompted your sale if I might ask?

[nashwan123] 05/12/2014 16:31

I'm out with a capital loss. Will pick up the divi though. On the face of it one of the best dividend payers against current share price in the market. Trust in short supply though!

[jeangl] 27/11/2014 14:54

Rearsky, forget it, don't think you can short, at least not in meaningful size. If you find a way, drop me a line pls!

[edmundshaw] 27/11/2014 13:43

Thanks rearsky, I am on the case.

[mrmark01] 27/11/2014 13:34

Why the sudden drop on news of the divi payment dates?

[rearsky] 27/11/2014 13:15

Edmundshaw, my answers below, but please check the links and ask Chinese people too, like I did, and you may also thank me for this search for truth, and please note I do not have any position in Camkids. Wish I could short it as fraud prob is very high IMHO.

Jinjiang Mingwei Shoes & garments Co, ltd is the Camkids PRC trading entity.

In the ARs you can see they claim they paid:
2011 tax RMB 53.4m, 2012 tax RMB 69.2m, 2013 tax RMB 81.5m.

This is what is available online by local tax offices.

 2011
www.fjqz.gov.cn/9CEA2D0DF0DA200166CD2760C9A9D1E9/201312/25110554czgp.html
Mingwei=trading name of CAMKIDS appears in 5m~10m bracket.
I’ve found another page from the government page, also stating its tax payment in 5m~10m. The link is hxxp://www.jjgkw.com/gkxxw/dwgk/newstext.asp?id=18470

 2012
www.jjjjb.com.cn/html/2013-03/25/content_371993.htm
Mingwei is not in the list of Meiling Street taxpayers who paid above 10m.

Another doc, clearing showing Mingwei’s tax in 2012 was in the range of 5m~10m. The doc is attached and Mingwei is on the 9th page. This doc was from the Jinjiang city’s Finance bureau, classifying companies by tax payment so that employees from higher tax contributor firms could get subsidiaries from the government. www.jjgkw.com/gkxxw/dwgk/newstext.asp?id=33807

 2013
Its tax in 2013 does not appear in the range above 30m RMB. www.jjjjb.com.cn/html/2014-02/28/content_407850.htm


I leave you to draw your own conclusions.

[edmundshaw] 27/11/2014 12:41

Can you fill in a little detail there please rearsky? I think it would give your comments a lot more weight.

For example, which tax office? How much tax have they paid according to local records and on what turnover? Which company name are you looking at?

Thanks.

[rearsky] 27/11/2014 11:36

Guys, how does one exactly short an illiquid stock like this? I like to short frauds because they can go to zero, and this smells like one...you know what they say...after all the red signals, if it looks like a duck, swims like a duck, and quacks like a duck, then it probably is a duck...

[chevalierdaven] 25/11/2014 09:55

Stewjames, I think you have a point. After all the Chinese frauds that were revealed in the US markets in 2011/2013, where 400 companies were targeted for investigation by the SEC, often after bear raids by some hedge funds or research groups like Citron, and ultimately more than 100 proved to be outright frauds like Sinoforest, you would have thought that investor protection would be high on the agenda of LSE AIM and FCA. Camkids and Naibu were listed in late 2012 and it seems nobody really bothered checking the raw facts behind the great Chinese consumer story, this really is very worrying for the overall standard of regulatory oversight in the UK capital markets (and I am not even mentioning the audit firms...).

[stewjames] 25/11/2014 00:31

Tax figures just do not match accounts at all. True tax is more like a fraction of what is claimed. She found plenty of tax bureau evidence that highlights this....mismatch. And also quick checks with industry people: position in kids outdoor is not #3 at all.

I'd like to be amazed, but I no longer am with these Chinese companies. How the hell is AIM continuing to let them all get away with it? It is their norm, not isolated incidents.

[chevalierdaven] 24/11/2014 11:37

Naibu is going the way of the dodo. I have little doubt Camkids will follow soon....

It has been a painful ride. Lots of hard earned cash burnt in this silly story.
How is it again? "What does not kill you...."

[caradog] 24/11/2014 07:42

Naibu warns on margins today:

"In the period since the interim results for the half year to 30 June 2014, there has been a slowdown in sales at the retail level of Naibu products that has led to some overstocking by distributors. This is expected to lead to a lower level of orders from distributors for next season's spring and summer collection 2015.

The Company therefore expects that it will need to introduce a limited programme of discounting of its 2014 sales prices to distributors in order to reduce the overstocking within the distribution system. The Directors expect this discounting programme will lead to a significant reduction in margins in the final quarter of 2014 and the first quarter of 2015."