Camkids Share Discussion Threads

[spob] 10/8/2015 13:58

Soul Limbo ...

" there is no cash pile imo "







I have seen the light

[soul limbo] 10/8/2015 13:47

there is no cash pile imo.... the made up scenario outlined in the RNS is a good way to magically explain away the non existent cash pile.

[yf23_1] 10/8/2015 13:43

No, it proves that some vehicle(s) are being used to pump up stated revenues and holding supposed stock (if it actually exists) and then shifting the real money out to whoever is in control of them. Note that payment terms are also increased to 180 days. In which time CAMK won't exist in its present form, neither will the debtors, neither will the cash.

[spob] 10/8/2015 13:38

shocker ?

No


Nothing out of the ordinary for a Chinese company listed thousands of miles away on the AIM market in London.

Just what would motivate a Chinese company to do that, instead of listing on their home market ?


LOL

[wyken] 10/8/2015 13:33

AT least it proves the cash is there?

[wyken] 10/8/2015 13:32

Amazing
Spending £50m on buying back stock?
Now capitalised at £7m

[yf23_1] 10/8/2015 13:28

I was wondering what Chinese magic trick they were going to use to make the cash dissappear.
Rmb285m stock being bought back against total sales last year of Rmb 1bn and yet these distributors account for only 17.5% of these yearly sales (Rmb 175m).

So can we assume they held 160% of their yearly sales as stock !!
Someone's telling porkies.

[trentendboy] 10/8/2015 13:23

Utter insanity

[targatarga] 10/8/2015 12:30

If you want a laugh here's one - sitting in front of the computer with a stella last night, i brought some varnish for oil painting.... I don't paint!

[silkywhite] 10/8/2015 12:24

Todays trading update is the funniest thing I've ever read. Beyond parody.
The end game is being played out here.

[the stigologist] 10/8/2015 12:17

shocker

there goes your cash into the pockets of unknown and unknowable chinese hands

[poley] 22/7/2015 10:59

It's perfectly clear (to anyone that's not ramping at least), that Chinese stocks are the equivalent of betting on the Eurovision song contest - should not be taken seriously and only the sort of thing you bet on when yer drunk or just for a laugh, and you should be suspicious of anyone telling you otherwise.
Not investment grade at all.

[soul limbo] 12/6/2015 18:51

The Auditor of Camkids is Crowe Clark Whitehill. That would be the same firm that signed off on Naibu as having £40 million cash and no debt when as we now know it had massive debts it could not repay

[rupe1958] 11/6/2015 16:44

Very interesting. Thank you for posting that on here.
Lots of good questions.
Camkids management seems to be terrified by what seems to us like a mild slowdown in the Chinese economy.
You have to remember that nobody under 50 in China has known anything but boom conditions. A slowdown or recession is something new to them.
Perhaps this explains the bonkers decision to pay no final dividend, leading to a quarrel with all their Western NEDs, fury amongst their shareholders, etc, all over a dividend payment that was a small percentage of the cash on the balance sheet.
This Q&A confirms my view that Camkids is no fraud. But it is in quite a difficult and competitive part of the Chinese domestic economy.

[edmundshaw] 11/6/2015 16:09

FWIW I am long and I think Camkids is priced to be a fraud and isn't. Read the transcript in case it helps you make up your own mind.

[edmundshaw] 11/6/2015 15:28

FWIW the company has a consistent message, and there are indeed market difficulties in China, something of which I hope anyone investing in the country is aware. I don't think the company is a fake, but whether the accounts truly represent an accurate picture is of course harder to verify. Naibu existed too, but looked more of a short term set-up.

If the market difficulties can be overcome as the company hopes, then this share price is probably a steal, even allowing for some massaging of the accounts. If not, perhaps not...

Advisers' contribution here less than impressive.

[graham1ty] 11/6/2015 15:20

Edmundshaw. Good man. the fact that it is all typed out shows that Pei Eng was just reading from a prepared script. I also noted that the RNS said the call would be on their website "for one week". Why delete it ? At least we now have it on the record.

[eiresorpio] 11/6/2015 10:11

Care to elaborate Graham?

[caradog] 11/6/2015 10:01

Why? What happened, or didn't happen?

[graham1ty] 11/6/2015 09:10

Well that was a waste of time......