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Interest income dropped 46% and management explained " Lower interest income earned from bank deposits as a result of the decrease of restricted cash compared to 3Q2013" . Interest on borrowings , up 30%, no comment from management.....
they borrow USD to fund local RMB expense due to favorable interest.. all said.. it' s not sure win.. a lot of risks here and there.. and as the ship-buildings go in certain stages.. they need more cash.. thus withdrawing more money.. and borrow more.. (this part of their business) I didn' t read their financial result yet, but that' s their business nature.. (this kind of similar to construction too)
ruanlai ( Date: 07-Nov-2014 11:01) Posted:
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YZJ announced qtr profit of 811kk rmb down 1% y/y.
Due mainly to reduction in interest income from HTM n mirco finance businesses.
This is s positive bcos investors consider such investments high risk.
Due to those reductions gearing dropped ~4% point as money used to repay loans which in turn released cash on restricted deposits into unrestricted cash which increased by the amount of 2.6b rmb.
And despite the reduction in HTM by 1.5b rmb it left provisions of 600kk+ alone.
In addition the CN plan to reduce the number of yards will strengthen YZJ market position - it is 1 of the 41 which will continue.
All in all a very much improved BS. Still expect a special distribution next qtr.
COSCO is much better than YZJ
spreading rumours like this will nv get other fellow investors to come on board. Maybe some contra ppl will listen to u, then kana have to force sell below the price.. Doesnt it push your price even lower?
ruanlai ( Date: 06-Nov-2014 16:21) Posted:
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current price is a steal close to NAV. Every qtr is profitable even in this difficult time. The plus point is at least the company is still awarding shareholders with dividends. Think prices will generally moving higher in time to come. 80 cents then 90 cents...may come soon
BBs quietly buying COSCO in volumes.
General Offer is undergo quietly by Chinese BBs.
When I saw this report last evening, i had my reservations. The results are actually not good.
ruanlai ( Date: 04-Nov-2014 09:37) Posted:
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COSCO Corp (Singapore) Ltd, part of one of China' s largest shipbuilding groups, said on Monday that its receivables at the end of the third quarter had soared 62 per cent from the end of 2013 to the highest in at least 11 years, while its quarterly net profit jumped 69 per cent from a year earlier. COSCO Corp, a Singapore-listed subsidiary of Chinese state-owned maritime conglomerate China Ocean Shipping (Group) Company, said higher trade and other receivables, at S$4.7 billion (US$3.7 billion), reflected a rise in construction contracts in the marine engineering segment and an increase in advances paid to suppliers. COSCO reported a net profit of S$7.1 million on revenue of S$1.2 billion for the quarter. (Source: The Business Times)
COSCO 3rd Qtr result very good liao .
NET PROFIT
UP 70% QTR to QTR
UP 31% YTD to YTD
Diluted EPS
up 68% to 0.32 from 0.19 QTR to QTR
up 31% to 1.52 from 1.16 YTD to YTD
2014 Q3 2013Q3
Gr profit 56,673 73205 -23%
Pre-tax profit 8435 23996 -65%
Net profit 7147 4224 69% ???????
what is this attributable to equity holders of the company mean ???
Highlights:
&bull Group net profit attributable to equity holders increased 69.2% to $7.1m.
&bull Group turnover rose 17.1% to $1.2bn on increase in shipyard and dry bulk
shipping revenues.
&bull Turnover from shipyard operations increased 17.2% to $1.1bn on the back of
higher revenue contribution from marine engineering segment.
&bull Turnover from dry bulk shipping and other businesses increased 11.2% to
$14.9m on higher short-term charter rates.
&bull Gross profit decreased 22.6% to $56.7m on lower profit contributions from
shipyard operations.
&bull The Group maintains a cautious outlook for the remainder of 2014.
jj7007 ( Date: 03-Nov-2014 17:17) Posted:
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results out.. not very rosy
You are right.
Share price are always run 6 months ahead to reflex the EPS and the PE ratio based on the contracts won.
Qanghoo ( Date: 03-Nov-2014 11:38) Posted:
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Correct me if I' m wrong. But I thought current results are from work done on contracts won much earlier?
ruanlai ( Date: 03-Nov-2014 11:21) Posted:
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Between Aug 2014 and Sep 2014, COSCO had secured additional USD$756millions worth of contracts.
Results should be very positive tonite.
ruanlai ( Date: 03-Nov-2014 11:18) Posted:
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As at 30 June 2014, the Group&rsquo s order book stood at US$ 8.1 billion with progressive deliveries up to 2016. This order book is subject to revision from any new or cancellation of orders that may arise.
据 香 港 经 济 日 报 报 道 ， 市 场 担 忧 沪 港 通 因 香 港 局 势 而 延 期 ， 据 悉 ， 香 港 财 政 司 司 长 曾 开 、 财 经 事 务 及 库 务 局 局 长 陈 家 强 及 金 管 局 总 裁 陈 德 霖 三 大 财 金 官 员 ， 下 周 中 将 出 访 北 京 。 虽 这 只 是 每 年 定 期 拜 访 ， 业 界 仍 期 待 得 到 更 多 沪 港 通 消 息 。
下 周 二 至 四 晤 &ldquo 一 行 三 会 &rdquo
三 人 此 行 将 与 央 行 、 中 银 监 、 中 证 监 及 中 保 监 (即 &ldquo 一 行 三 会 &rdquo )等 金 融 部 委 会 面 ， 令 人 关 注 到 时 会 否 有 相 关 消 息 公 布 。
消 息 指 ， 三 大 财 金 官 员 上 京 属 每 年 定 期 的 礼 节 性 拜 访 ， 但 有 业 界 人 士 关 注 ， 官 员 访 京 时 话 题 围 绕 着 两 地 金 融 合 作 ， 虽 坦 言 对 此 行 能 否 带 来 实 际 宣 布 ， 预 期 不 高 ， 但 也 期 望 得 到 更 多 清 晰 指 引 。 财 库 局 、 金 管 局 发 言 人 对 出 访 消 息 不 作 回 应 。
有 政 府 中 人 表 示 ， 此 行 属 例 行 出 访 ， 而 非 为 了 香 港 局 势 、 沪 港 通 延 期 等 突 发 事 件 而 特 别 安 排 ， 不 过 坦 言 双 方 会 面 是 互 动 交 流 ， 内 容 可 以 很 阔 。 据 了 解 访 京 为 期 三 天 ， 由 下 周 二 至 四 (11月 4日 至 6日 ).
三 大 财 金 官 员 共 同 访 京 ， 多 年 来 都 会 在 深 秋 举 行 。 据 了 解 ， 过 程 与 内 地 多 个 重 要 监 管 部 门 包 括 人 民 银 行 、 发 改 委 、 中 银 监 、 中 证 监 及 中 保 监 等 官 员 会 面 ， 而 对 话 内 容 多 包 括 宏 观 政 策 ， 提 供 机 会 予 两 地 官 员 作 经 济 及 金 融 上 的 交 流 。
港 交 所 (00388)周 日 公 布 沪 港 通 未 获 批 后 ， 市 场 疑 惑 究 竟 属 延 期 或 是 搁 置 ？ 正 期 盼 监 管 机 构 短 期 可 有 进 一 步 的 披 露 。
wait4opp ( Date: 31-Oct-2014 14:12) Posted:
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Sorry ! post the wrong counter.
Anyway, today COSCO reporting the result.
Good results ahead due to the qtr to qtr result imporvement and huge contracts won.
Huat lar.
ruanlai ( Date: 03-Nov-2014 09:09) Posted:
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CSR n CNR are merging under the charge of China Govt that will involve more than RMB 400Billions worth of value shares change hand.
The suspend is going to take not more than one month.
The frog...
tianji ( Date: 29-Oct-2014 10:29) Posted:
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沪 港 通 正 式 启 用 !
发 啊 ！