Gx Cleantech Discussion Threads

[czar] 24/4/2014 16:46

Huge volume today, looks like this is what has been holding the shares down.

[stuffee] 07/4/2014 20:54

Sirraman

Don't think CTEK have yet announced dividend payment details, just the principle.
Another PR weirdo!

The AGM is on 20 May; AGMs normally approve final dividends and any scrip issues, but no resolution included by CTEK with Notice. There is a mention that dividend details will be available after the AGM, so Ex-div date probably some time thereafter.

[sirraman] 07/4/2014 18:03

what's the ex-div date please ...anyone ??

[stuffee] 07/4/2014 11:50

Agree with all above.

2013 eps of 36.6p, historic PE now 3.4 and today's statement refers to "sustainable growth". The new logistics park of 145,000 sq m should be opened in 3 years; this will more than double CTEK's capacity from current 70,000 sq m.

Imagine if CTEK was based in UK and subject to current IPO. With the great benefit in its logistics business from growth in e-commerce, if priced on PE of say 17, five times present rating, would probably be 100 times over subscribed!

Feel CTEK's PR and brokers' efforts lousy. Not much of use on web site (most AIM competitors at least publish brokers' estimates), no effort to release decent financials so sites such as ADVFN or iii can include fundamental data and I also thought Chairman's statement today uninspiring and pretty generic - looked like just copied from standard text, with little helpful specific comment. Brokers' effort at placing just £1.5m line of shares last year, which trashed price, incompetent and near scandalous.

"China discount" might be helped when CTEK has completed financing of new centre and it can start paying huge dividends - its cash flow could easily support divis of at least half eps.

I feel patience will be very well rewarded here. Competent PR advisers and brokers, with a more savvy non-exec board to help with UK presentation could transform this baby gem.

[philjeans] 07/4/2014 08:56

Yes - good report and figures are better than they look, as you spotted graham.

Nice rising yield and pots of cash - no debt. Balance sheet looks very strong.

Only issue really is the large blocks of shares dumped by seed investors who just want their cash - at any price,

Still - worth a punt I reckon.

CAMK in the same boat and reporting soon.

[grahamg8] 07/4/2014 08:23

Muted so far. Cash inflow from operations before tax RMB285.7m (2012 237.0m). Cost of 6p divi is just RMB22.7m. If it wasn't Chinese the share price would be far higher. True sales growth nearer to 9% than 3% due to changes in the tax system.

[pjhutchy] 07/4/2014 07:44

Good results and a dividend. Also they mention that the new logistics park will be paid for in full out of the company's own cash resources. A lot of uncertainty has been removed in this statement. Lets see what the market makes of it.

[sirraman] 06/3/2014 10:57

someone just bought 24 shares and the share price has gone up ...???

[danieldruff2] 27/2/2014 22:58

Only just noticed they have an investor presentation up on their site from November...

[davidosh] 11/2/2014 16:54

Shareholders and potential investors will be interested in this..

[sirraman] 10/2/2014 08:23

just taken a first small holding here at below the placing price...they are pcking up new contracts and also nice dividend to look forward to ...

Sirra

[danieldruff2] 04/2/2014 13:41

For reference purposes here are the shareholdings from the corporate website dated to Jan 3rd 2014
(these things are often difficult to trace back when they get updated)

Odylink Limited (Shufang Zhuang?) 34.7%
Golden Plan Development (Mejin Xu?) 32.9%
Galant Guide Investments 5.3%
David Lam 4.9%
Wild Boom Investments Limited 4.6%
Investec Asset Management Limited 3.4%

[briangeeee] 18/1/2014 01:21

If anything was to happen, it would probably need to be well below 140p for them to get it away I'd think.

[danieldruff2] 17/1/2014 11:30

Bit of weakness this morning, wonder if this is up for another dollop let go at 140p by seed investors.

[philjeans] 05/1/2014 15:24

Mail on Sunday TIPS CTEK as a doubler this year!

"Be a dragon in China for chance of a hot profit!"

Midas verdict; "Chinese shares have had a rough ride on AIM and many investors are wary, but Chaintek looks like a solid and fast-growing firm and supporters believe the shares should double from the current 141p"

Should give us a lift tomorrow!

See the MOS article for full write-up; it's quite detailed.

[philjeans] 27/12/2013 11:22

A couple of positive RNSs today - value will out here in due course!

£££££££££££££

RNS Number : 3587W

China Chaintek United Co., Ltd

27 December 2013

Press Release 27 December 2013

China Chaintek United Co., Ltd

("ChainTek" or the "Company")

Further re scrip dividend

Directors' dealings

China Chaintek United Co., Ltd (AIM: CTEK), the provider of logistics services to manufacturers of consumer goods in China, is pleased to announce that the reference price for the Company's interim maiden dividend of 2 pence per share has been set at 141.2 pence. This is the average of the middle market quotations for the Company's ordinary shares as derived from the London Stock Exchange's Daily Official List for the ex-dividend date of 11 December 2013 and the four subsequent dealing days. Valid forms of election in respect of the cash dividend were received in respect of 6,569,183 ordinary shares, including 2,281,931 and 2,161,829 from Odylink Limited and Golden Plan Development Limited, both shareholders connected with Executive Directors of the Company. In consequence, a total cash dividend payment of GBPGBP131,412.22 will be made on 3 January 2014 to shareholders so electing.

A total of 681,675 new ordinary shares will be issued on 3 January 2013 in respect of the scrip dividend, including the following in respect of directors' shareholdings:

Director Number of scrip Ordinary shares Holding in Company
dividend shares following scrip %
dividend
------------------- ----------------- ----------------- -------------------
Shufang Zhuang(1) 236,799 19,236,799 34.737%
------------------- ----------------- ----------------- -------------------
Meijin Xu(2) 224,336 18,224,336 32.909%
------------------- ----------------- ----------------- -------------------
Stuart Lane 155 11,155 0.020%
------------------- ----------------- ----------------- -------------------
William Knight 120 8,620 0.016%
------------------- ----------------- ----------------- -------------------
Derrick Wong 70 5,070 0.009%
------------------- ----------------- ----------------- -------------------

Note 1 - Shufang Zhunag holds his shares in the Company via Odylink Limited, a company incorporated in the British Virgin Islands

Note 2 - Meijin Xu holds her shares in the Company via Golden Plan Developments Limited, a company incorporated in the British Virgin Islands

Application will be made for these new ordinary shares, which rank pari passu with the Company's existing issued ordinary shares, to be admitted to trading on AIM. It is expected that admission will become effective and dealings will commence on 3 January 2014.

Following admission, the enlarged issued share capital of ChainTek with voting rights attached consists of 55,378,550 ordinary shares of US$0.0010 each with one vote per ordinary share. There are no shares held in Treasury. The total number of voting rights in ChainTek is therefore 55,378,550, which figure may be used by shareholders (and others with notification obligations) as the denominator for the calculations by which they will determine whether they are required to notify their interest, or a change to their interest, in ChainTek.

- Ends -

££££££££££££££££££££££££££££££



China Chaintek United Co., Ltd

27 December 2013

Press Release 27 December 2013

China Chaintek United Co., Ltd

("ChainTek" or the "Company")

Final Land Use Right payment made

As previously outlined in the Company's Interim Results on 26 September 2013, China Chaintek United Co., Ltd (AIM: CTEK), the provider of logistics services to manufacturers of consumer goods in China, is pleased to announce today that, following discussions with the local government, the Company has now made its final payment in respect of the Land Use Rights ("LUR") for its planned logistics park. The payment of RMB54.6 million, which was for the final 20 per cent. of total fees, was made by the Company on 25 December 2013. Like previous payments made by the Company in relation to the LUR for the planned logistics park, this payment has been made from the Company's existing cash balances.

As announced on 19 March 2013, Chaintek intends to build a logistics park which will be located on a 145,600m(2) plot of land in an industrial zone in Jinjiang 14km from the Group's existing operational headquarters, and which already houses a number of ChainTek's existing key manufacturer customers. The consideration payable for the LUR was RMB 221.0 million (approximately GBP 22.1 million), in addition to the RMB 52.0 million deposit paid in 2011, and was payable in three tranches. The initial payment of RMB 81.9 million (approximately GBP 8.19 million), which was the final condition required for completion of the acquisition, was made on 18 March 2013, with the second payment of RMB 84.5 million (approximately GBP 8.45 million) being paid on 6 April 2013.

Commenting on the final LUR payment, Mrs Xu Meijin, Chief Executive Officer of ChainTek, said: "We are very pleased to announce the final Land Use Right payment on the planned logistics park and can now confirm that the acquisition of the site is now complete paving the way for construction to start by H2 2014. The Company looks forward to making a further update on the logistics park at the time of our pre-close trading statement which will be issued in late January 2014."

- Ends -

[stuffee] 10/12/2013 11:27

I do wish CTEK and its brokers would comply with rules and announce identity of sellers last Thursday asap. Would help to restore some confidence.

I did follow lead of PJ and others and bought a few more yesterday, believing share collapse due to u/s broking rather than anything more sinister. I would have bought more if I was certain everything in garden was lovely.

[garbetklb] 09/12/2013 18:31

Rather unusually, there has been no announcement of who sold what - all we have is :
- The Company was also informed today by Daniel Stewart & Co plc that yesterday it had completed a series of open-market share sales, conducted on behalf of existing ordinary shareholders at a price of 140 pence (the "Placing").
and
- The Board would like to thank the early stage investors in ChainTek for their past support.

The phrasing of the 2nd quote seems to suggest that the early stage investors have sold out in entirety. But it's not at all clear as who sold how many shares is not mentioned.. Nor have we any notifications of new interests - hard to believe that nobody has acquired >3% if the founders have sold in entirety. So a bit of a mystery.......

Another mystery is that Liberum Capital did not appear on the RNS - and I cannot find the 4 broker notes referred to in post 25 - can anyone tell me where to look? I was looking forward to seeing the context of the phrases referred to in post 26.

If everything is above board, their advisors seem to be doing a very poor job.....

Garbetklb

[kinbasket] 09/12/2013 11:30

PJ.

That is untrue.

I can speak on behalf of B4T since we share the same head.

I have not been trashing all Chinese stocks for months. I have only commented on Naibu in the last year. This was my first comment on CTEK. I have commented on Asia Citrus in the past in relation to the ownership structure post Sino Forest. I have never commented on CAMK. To the best of my memory.

Very few if any of my comments have been found to be rubbish. I try to stick to factual comment only. Your opinion of the the implications of those facts may differ from mine but the facts are the facts.

In this case it is a fact that CTEK and Naibu shared the same advisor in Riemann. It's also a fact that around July Reimanns website went dark and hasn't been seen since. It's also true that Reimann were involved with a number of listings on various secondary markets almost all of which are now worth a fraction of their ipo value. It's also true that CTEK are in the same Geographic location as Naibu and they ship shoes. It's also a fact that they raised money to build new facilities. Much the same as Naibu have. Although Naibu spent their listing revenues on Refurbishments.

It's also true that in both companies the original or seed investors have sought to exit at the first opportunity and for seemingly ridiculous prices.

[philjeans] 09/12/2013 09:30

B4T has been trashing all Chinese stocks for months!

All his comments have been found to be rubbish!

Read the full threads for NBU and CAMK.

[garbetklb] 09/12/2013 01:25

It may be worth reading Beans4Tea's post :



Good luck!

[stuffee] 08/12/2013 23:24

BG and DrC
Prima facie I agree the obligation to disclose lies with the selling shareholder.

Interesting that you state Galant were vendor; I see they previously held 5%.

However, I see the Company's new joint broker, Daniel Stewart, arranged the share sale apparently on Thursday 5 Dec. It appears that this was appallingly badly handled to trash price by 35% for a sale of just 5% (assuming there were no other major sellers). My complaint lies with the company's own broker not then announcing a 3%+ shareholder had sold.

I also feel the announcement by the Board of the sale late on Friday, without identifying vendor or quantity sold, demonstrates the Board were fully aware of details last Friday. I do not like non execs failing to announce price sensitive dealings of c5% together with making a bullish trading statement until just AFTER they have helped themselves to cheap stock.

I fear this behaviour and volatility will not help sentiment towards CTEK and its future rating, even though I believe we all feel it's a decent company with exciting growth prospects and low rating.

[dr contrarian] 08/12/2013 17:11

After Fridays announcement, I believe its also ok to mention that the placing was principally from a seed investor (Galant Guide Investments).

There was nothing sinister behind the placing, think the directors mentioned as much and even picked up a few shares in the placing as well.

Agree with previous posts, that an announcement could have been made earlier in the day.

[briangeeee] 08/12/2013 14:03

Stuffee, the obligation is on the individual transacting in the shares to inform the company. There's no particular sanction if they choose not to apart from withholding their dividend, but if they've sold out, that's of little more than academic interest.