We could not find any results for:
Make sure your spelling is correct or try broadening your search.
Register to chat with like-minded investors on our interactive forums.
| Share Name | Share Symbol | Market | Stock Type |
|---|---|---|---|
| China Medical | CMSH | London | Ordinary Share |
| Price Change | Price Change % | Share Price | Last Trade
|
|
|---|---|---|---|---|
| 0.00 | 0.00% | 52.00 | 01:00:00 |
| Open Price | Low Price | High Price | Close Price | Previous Close |
|---|---|---|---|---|
| 52.00 | 52.00 |
| Top Posts |
|---|
Posted at 17/9/2010 00:49 by penpont Some quite interesting stuff here:China Medical System aims to raise $129 million from Hong Kong IPO By Lillian Liu | 10 September 2010 The pharmaceutical services company fights for investor attention along with 10 other Chinese companies that plan to launch small to mid-size share sales in Hong Kong or the US this month. China Medical System Holdings, a Chinese pharmaceutical services company, is looking to raise up to HK$1 billion ($129 million) from a Hong Kong initial public offering to fund its business expansion. The company is joining more than 10 other Chinese companies with plans to launch small to mid-size new share sales in the Hong Kong or US equity markets this month, suggesting there will be a fight for investor appetite for mid-cap Chinese enterprises. The competition will be even tougher thanks to bigger names such as AIA Group and Xinjiang Goldwind, which are expected to resume the IPOs that they called off earlier in the year. The pan-Asian insurer halted its plans for a share sale when it became the subject of a takeover bid from Prudential. However, the bid eventually failed, depriving its owners of much-needed capital from a potential acquisition. Goldwind postponed its earlier offering due to the poor market condition at the time. Given China Medical's unique business model -- it makes very few products itself, but engages in marketing and promotion of prescription drugs in China -- investors will need to expand their research beyond the company to get the full picture of how China's drug market works. "People tend to mix it up with Sinopharm (a Chinese drug distributor). But [these two companies] operate in different parts of the chain. The margin for the marketing and promotion companies is significantly higher [than for the distribution companies] because they make profits from charging pharmaceutical companies," said a source. Shenzhen-based China Medical is offering 17.8% of the company, or 200 million shares, at between HK$3.6 and HK$5.06 apiece. That means the company could raise between HK$720 million and HK$1.01 billion. The deal comes with a 15% greenshoe option which, if fully exercised, would allow the company to raise HK$828 million to HK$1.16 billion by selling an additional 30 million shares. The base deal is made up of 170 million primary shares and 30 million secondary shares. The indicated price range translates to 12.5 times to 17.6 times projected earnings for 2011, according to sources. The company started bookbuilding yesterday. The final price will be fixed on September 20 (US time) and the trading debut on the Hong Kong exchange is scheduled for September 28. UBS is managing the transaction. Founded in 1995, China Medical helps promote and raise awareness of pharmaceutical products among physicians; it offers pharmaceutical companies that lack the capability to commercialise or promote their products on their own, a way to efficiently bring these products to market. With a market share of 18% in 2009, China Medical is the largest pharmaceutical services company focusing on marketing, promotion and sale of prescription drugs in China, according to its preliminary IPO prospectus. The company made a profit of $60.9 million last year and $37.2 million in the first six months in 2010. It plans to use the proceeds to increase its marketing and promotion network. Another medical player, Shanghai-based MicroPort Scientific, which makes equipment for keyhole surgery, is said to be seeking about $130 million from a Hong Kong IPO this month. Credit Suisse and Piper Jaffray are managing that sale. Last September, Sinopharm Group, the largest distributor of pharmaceutical products in China, raised $1.13 billion in a popular Hong Kong IPO, which received massive demand from both institutions and retail investors. Sinopharm sold 545.67 million new H-shares representing 25% of the company. Strong demand enabled it to fix the price at the top of the HK$12.25 to HK$16 range, valuing the company at 25.5 times its projected earnings for 2010. The stock closed at HK$31 yesterday -- 93.7% above its IPO price. Copyright © 2010 Haymarket Media. All rights reserved. This material may not be published, broadcast, rewritten or redistributed in any form without prior authorisation. Your use of this website constitutes acceptance of Haymarket Media's Privacy Policy and Terms & Conditions. |
Posted at 12/9/2010 19:10 by 2ngawang Found this: Ming Pao Daily HK, 10th Sept. 2010 Author is Mr. Lee, Hai/Ocean of C.A.S.H. (Celestial Asia) Finance House/Broker. 康哲" Pre-IPO HK:0867 plans to issue 2 billion shares. This company has delisted from London and to be listed in HK at a range of HKYuan 3.6 to 5.06. The projected capital to be raised is an impressive HKYuan 7.2 to 10.12 Billion. the company has earmarked one third of new capital to expand their product line and re-organization. 16.8% is to be used on selecting a factory/warehouse site for production purposes. High profits has been a trait pattern of this plc with the last three years' records maintaining above 60% each year. We take a favourable stance on this stock and expect its future to perform well. We suggest 'buy' for investors. -------------------- |
Posted at 09/9/2010 16:47 by standtall DJ China Medical Sys. Response to press speculation TIDMCMSH RNS Number : 4560S China Medical System Holdings Ltd 09 September 2010 +------------------- | For Immediate release | 9 September 2010 | +------------------- NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, DIRECTLY OR INDIRECTLY, IN WHOLE OR IN PART, IN, INTO OR FROM THE UNITED STATES OF AMERICA, AUSTRALIA, CANADA OR JAPAN OR ANY OTHER JURISDICTION WHERE TO DO SO MIGHT CONSTITUTE A VIOLATION OF THE RELEVANT LAWS OR REGULATION. China Medical System Holdings Ltd ("CMS" or "the Company") Response to press speculation The Board of China Medical System Holdings Limited (AIM: CMSH) notes the recent press speculation regarding a possible fundraising and confirms that it is conducting a roadshow to certain institutional investors in connection with its proposed listing of the Company's shares on the main board of The Hong Kong Stock Exchange Limited (the "Proposed Listing"). Any offer will be subject to investor demand and market conditions and there is no guarantee that it will proceed. At the EGM, shareholders approved resolutions relating to, among others, cancellation of the admission of the shares of the Company to trading on AIM (the "Delisting") conditional upon the Proposed Listing occurring and on the same day as the date of the Proposed Listing. The resolution approving the Delisting allows the Delisting to occur within a three month period from 20 August to 19 November 2010.It is currently expected that the Proposed Listing will occur on 28 September 2010 (Tuesday). Should there be a change in the expected date of the Proposed Listing and the date of the Delisting, the Company will make an announcement regarding such change as soon as practicable and in any event not later than ten clear business days in advance of the final date of Delisting. For further information, please contact: +------------------- | China Medical System Holdings Ltd | + (852) 2369 3889 | +------------------- | Vincent Hui | | +------------------- | Seymour Pierce Limited (Nominated | + 44 (0)20 | | Adviser) | 7107 8344 | +------------------- | Chris Howard / Catherine Leftley | | +------------------- The information contained in this document is not for release, publication or distribution, directly or indirectly, in whole or in part, in, into or from in the United States of America (including its territories and possessions, any state of the United States and the District of Columbia). These materials do not contain, constitute or form part of an offer to sell or the solicitation of an offer to purchase securities in the United States or in any other jurisdiction. The securities referred to herein (the "Securities") have not been and will not be registered under the US Securities Act of 1933, as amended (the "Securities Act"), and may not be offered or sold in the United States absent registration under the Securities Act except pursuant to an available exemption from, or in a transaction not subject to, the registration requirements of the Securities Act. There will be no public offer of the Securities in the United States or in the United Kingdom. This notice does not constitute an offer to subscribe for any securities of the Company. Any investment decision in relation to securities offered pursuant to the Proposed Listing should be taken solely in reliance on the information provided in any applicable offer document the Company may issue. Notes for editors China Medical System Holdings Limited China Medical System Holdings Limited is listed on the Alternative Investment Market (AIM) of the London Stock Exchange with the ticker symbol "CMSH". For further information, please visit www.chinamedicalsyst CAUTIONARY NOTE REGARDING FORWARD-LOOKING STATEMENTS AND ESTIMATES This announcement contains certain forward-looking statements and estimates with respect to the financial condition, results of operations and business of the Group and certain plans and objectives of the Board of the Company with respect thereto. These forward-looking statements and estimates can be identified by the fact that they do not relate only to historical or current facts. Forward-looking statements often use words such as 'anticipate', 'target', 'expect', 'estimate', 'intend', 'plan', 'goal', 'believe', 'will', 'may', 'should', 'would', 'could' or other words of similar meaning. These statements are based on estimates, assumptions and assessments made by the Board in light of their experience and their perception of historical trends, current conditions, expected future developments and other factors they believe appropriate. By their nature, forward-looking statements and estimates involve risk and uncertainty, because they relate to events and depend on circumstances that will or may occur in the future and the factors described in the context of such forward-looking statements in this announcement could cause actual results and developments to differ materially from those expressed in or implied by such forward-looking statements or estimates. Although the Group and the persons who have accepted responsibility for the information contained in this announcement believe that the expectations reflected in their respective forward-looking statements or estimates are reasonable, they can give no assurance that such expectations will prove to have been correct and the Group and the persons who have accepted responsibility for the information contained in this announcement therefore caution you not to place undue reliance on these forward-looking statements or estimates which speak only as at the date of this announcement. OVERSEAS JURISDICTIONS The release, publication or distribution of this announcement in jurisdictions other than the United Kingdom may be affected by the laws of the relevant jurisdictions in which they are located or of which they are citizens. Such persons (including, without limitation, nominees, trustees and custodians) should inform themselves of, and observe, any applicable legal or regulatory requirements of their jurisdictions. This information is provided by RNS The company news service from the London Stock Exchange SPCDMGGLKLZGGZM (END) Dow Jones Newswires 09-09-10 1544GMT |
Posted at 29/7/2010 10:04 by dasv more from Jan 10 research note:-"ADJUSTING THE FOCUS Recent news flow, as reflected in a positive trading update, explains why CMS' shares have been making all time highs. In December 2009, the Company's R&D activities (Healthlink) were spun-off in a totally separate entity, turning CMS into an almost pure sales & marketing and distribution organisation with a clearer and focused growth path. CMS intends to continue with its existing business strategy of introducing 2 new imported products each year and is also exploring different in-licensing models other than the current exclusive agency approach. Growth trends continued in FY2009 with an estimated sales increase of 32% to US$96m from US$73m the previous year. CMS' shares have extended their stellar performance and in the last eight months UK and Asian private investors have increasingly showed interest in the stock that has seen healthy increases in daily trading. We have highlighted before many of the key factors behind this rerating: the impeccable management execution track record over several years; stable sales and marketing network: the ability to introduce new products each year; and manufacturing facilities that meet GMP-certification. This has now been recognised with the renewed interest in Chinese based companies that has seen, just within the healthcare sector, one of the largest IPO in recent years (US$1.3bn): the listing of Sinopharm Holdings' in the Hong Kong Stock Exchange in mid September. Also the general strong recovery of the Asian equity markets has contributed to the share price surge. CMS has said it is currently exploring the possibility of a listing on the Hong Kong Stock Exchange. Given the proximity of the final full year results, and the fact that the HK listing is still to be completed, we are not yet changing our forecasts but continue to see CMS as a very attractive business model going forward." |
Posted at 29/7/2010 10:02 by dasv excerpt from Jan 10 research in penpont's research link ("If we compare the position of the basket of companies included in our May note now an then we can see that P/E multiples have more doubled from 9.7 to 22.8 and y-o-y returns have turned from double digit negative percentage (almost all of them) to triple positive percentage figures in most cases (see Table 1). CMS currently trades at 24.9x P/E (Bloomberg consensus) which is in line with the average P/E ratio of the companies included in our basket. However, the excellent track record, posting y-o-y high margins well above the competitors and dividend levels are all key differentiating elements on top of solid fundamentals. The Company remains well funded with strong cash flow generation that allows them to continue to grow the business without disruption. Valuation The share price has clearly had a tremendous run which, as we have outlined, is unlikely to reverse sharply as a potential HK listing creates buying interest from a new investor base. However, the second listing is still to be achieved and it is always wise to keep track on fundamentals and ratings. This exercise does still provide reassurance that the quality and growth projections of this business strongly underpin the current AIM share price: - our historic preferred methodology of a DCF incorporating UK risk free rates gives up a fair value of 420p / share on current currency and yield levels. - Hong Kong has never issued long term government bonds but its currency is of course pegged to the US$. Rerunning the calculation with American risk free rates gives a fair value of 602p / share." divide by 20 and 30p is fair value as per Jan 10 when this was written however results after this exceeded expectations so I would argue fair value is well in excess of 30p. |
Posted at 28/7/2010 13:02 by radarlove I was going to say that with all the emphasis on cement companies recently, in particular WCC, where the average PE on the HK exchange is around 13; pharmaceutical/medicObviously, nothing like the potential upside of WCC, but still some profit to be had at present AIM prices. Re: ACHL, the major price rise occurred during the lead up to the listing whilst on AIM; so when the company did list, there was little upside left; plus the fiasco/farce concerning the first day of HK trading didn't help. |
Posted at 03/2/2010 11:16 by hannahh Positive trading update supports strong reratingR&D activities spun off, leaving sales / marketing / distribution focus Possible listing in Hong Kong has valuation implications For free reports on China Medical and other undervalued companies log on to: |
Posted at 14/1/2010 15:00 by boadicea Mattjos - Yes, I'm still here, but not to the same extent as CHNS, and I must admit to having top-sliced roughly to the point of recovering my initial input.After its having risen so far so fast and being on a considerably higher p/e (or even prospective p/e) than any of my other three China linked plays, I do wonder whether the management itself would prefer more sedate progress in the share price Why else include the statement in the update - with which I totally agree but I would apply it to ALL AIM investments and normally expect it to go without saying - "As the success of the proposed additional listing is subject to the fulfillment of a number of conditions, including but not limited to the listing approval from The Stock Exchange of Hong Kong Limited as well as the market conditions, the proposed additional listing may or may not proceed. Shareholders of the Company and potential investors should exercise caution when dealing in the shares of the Company." It does seem to imply that they fear a lack of caution. Any mild set-back, e.g. HK listing application deferred or cancelled, could result in a disprortionate share price response, burnt fingers and a nasty backlash leaving it on a p/e similar to RCG or SFT. Such events can have an undesirably persistent effect - as we know! Better to have a period of consolidation in the share price and perhaps shed some of the momentum trading holders imho. |
Posted at 12/8/2009 14:07 by radarlove I believe so. Rather like SOLA, investors lost trust in the company. This "trust issue" is becoming ever more important. Some Chinese companies are more professional than others with their PR and accounting practices. CMHS appear to be one of the good guys. I believe there is a move in motion - set up by a CEO of one of the AIM Chinese food-related companies - to bring everyone into line by signing an agreement for 'proper practice' ie. in line with the West. If this is successful, this should give Eastern firms a boost in the eyes of Western investors. Trust is the present key issue and why Chinese companies, generally, have a lower PE than their Western counterparts. |
Posted at 02/6/2009 20:06 by azalea Rhuvaal-2Whilst I can only agree with your assessment of the low esteem in which most investors hold PP, I feel that astute investors should ignore the character of the individual and instead focus on the quality of the company. Given that the 2008 FY results were excellent and brokers forecasts for 2009 & 2010 no less so, then clearly the cause of the significantly undervalued share price must lay elswhere. To that end I believe its a question of being below many P.I. radar and further aggravated by the vast majority of shares(95%) in just 4 holders' hands. Whilst I bought for all the above reasons, the lack of shares prevents institutions taking a meaningful stake. That said, CMSH cannot hide its light under a bushel for ever and sooner than later a pundit or two will light on the excellent merits of the company. I see no real need to start a new thread. |
Support: +44 (0) 203 8794 460 | support@advfn.com
By accessing the services available at ADVFN you are agreeing to be bound by ADVFN's Terms & Conditions
Hot Features
Premium
