I am liking the look of CHNR. It is at an interesting point, had a huge run back in January on big volume. Since then falling back to find support, which it seems to have found in the shape of 40 week (200day) MA.
Below news release came out Friday regarding approval for continued listing after recent acquisition. On face value CHNR appears very undervalued and with very low float 1.25M shares. Will need to dig into background a bit more to get further details, but this news digested over the weekend by traders combined with the low float could provide some fireworks next week.
HONG KONG, June 9, 2006 /PRNewswire-FirstCall via COMTEX/ -- China Natural Resources, Inc. (CHNR), a company based in the People's Republic of China, today announced that its new listing application for inclusion on The Nasdaq Capital Market has been approved.
The new listing application was required under Nasdaq rules due to a change in control of the Company resulting from the Company's February 2006 acquisition of Feishang Mining Holdings Limited. Feishang, through its operating subsidiary, engages in the mining of zinc, iron and other minerals in the People's Republic of China. The Company's shares will continue to be listed on The Nasdaq Capital Market under the symbol "CHNR."
Mr. Li Feilie, President, Chairman and CEO of China Natural Resources, commented, "We are pleased that the Staff has approved our new listing application and that the Company's shares will continue to be listed on Nasdaq. We believe that our listing on The Nasdaq Capital Market will provide continued transparency to the investment community and offer investors a liquid market in which to buy and sell the Company's shares."
China stocks are BACK ! CTDC, CHNR, AOB, CHINA, etc. all up !! ;D EARNINGS NEWS ON CHNR !!
China Natural Resources Releases Interim Results of Operations
Monday November 13, 3:37 pm ET
HONG KONG, Nov. 13 /PRNewswire-FirstCall/ -- CHINA NATURAL RESOURCES, INC. (Nasdaq: CHNR - News), a company based in the People's Republic of China, today released unaudited interim financial statements for the six months ended June 30, 2006 as follows.
CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS AND COMPREHENSIVE INCOME
(LOSS) (UNAUDITED)
FOR THE THREE AND SIX MONTHS ENDED JUNE 30, 2006 AND 2005
(Amounts in thousands, except share and per share data)
Three Months Ended June 30, Six Months Ended June 30,
2006 2005 2006 2006 2005 2006
RMB RMB US$ RMB RMB US$
NET SALES 32,526 20,947 4,066 51,664 43,150 6,458
COST OF SALES (8,961) (8,873) (1,120) (17,042) (17,309) (2,130)
------ ------ ------ ------ ------ ------
GROSS PROFIT 23,565 12,074 2,946 34,622 25,841 4,328
SELLING, GENERAL
AND
ADMINISTRATIVE
EXPENSES (3,715) (1,814) (464) (7,106) (5,439) (888)
INTEREST INCOME 135 240 17 235 270 29
OTHER INCOME/
(EXPENSE),
NET 1,083 16 135 4,958 (24) 620
------ ------ ------ ------ ------ ------
INCOME FROM
CONTINUING
OPERATIONS
BEFORE INCOME
TAXES 21,068 10,516 2,634 32,709 20,648 4,089
INCOME TAXES (3,338) (1,570) (417) (4,906) (3,430) (613)
------ ------ ------ ------ ------ ------
INCOME FROM
CONTINUING
OPERATIONS 17,730 8,946 2,217 27,803 17,218 3,476
DISCONTINUED
OPERATIONS
Loss from
discontinued
advertising
and HARC
operations,
net of taxes
of nil. (212) - (27) (486) - (61)
------ ------ ------ ------ ------ ------
NET INCOME 17,518 8,946 2,190 27,317 17,218 3,415
------ ------ ------ ------ ------ ------
Other
comprehensive
income/(loss):
Foreign
currency
translation
adjustments (3) - - (11) - (1)
------ ------ ------ ------ ------ -----
COMPREHENSIVE
INCOME 17,515 8,946 2,190 27,306 17,218 3,414
====== ====== ====== ====== ====== ======
INCOME PER
SHARE:
Basic
Income
from
continuing
operations 1.54 7.17 0.19 2.87 13.80 0.36
Loss from
discontinued
operations (0.02) - - (0.05) - (0.01)
------ ------ ------ ------ ------ ------
1.52 7.17 0.19 2.82 13.80 0.35
====== ====== ======= ====== ====== ======
INCOME PER SHARE:
Diluted
Income from
continuing
operations 1.27 7.17 0.16 2.27 13.80 0.29
Loss from
discontinued
operations (0.02) - - (0.04) - (0.01)
------ ------ ------ ------ ------ ------
1.25 7.17 0.16 2.23 13.80 0.28
====== ====== ====== ====== ====== ======
WEIGHTED
AVERAGE
NUMBER
OF SHARES
OUTSTANDING
Basic 11,548,416 1,247,823 11,548,416 9,670,407 1,247,823 9,670,407
========== ========= ========== ========== ========= ==========
Diluted 13,959,662 1,247,823 13,959,662 12,240,535 1,247,823 12,240,535
========== ========= ========== ========== ========= ==========
CONDENSED CONSOLIDATED BALANCE SHEETS
AS OF JUNE 30, 2006 AND DECEMBER 31, 2005
(Amounts in thousands, except share and per share data)
June 30, December 31, June 30,
2006 2005 2006
RMB RMB US$
(Unaudited) (Unaudited)
ASSETS
CURRENT ASSETS:
Cash and cash equivalents 72,453 41,202 9,057
Trade receivables 502 4,622 63
Bills receivable - 450 -
Other receivables, deposits and
prepayments 1,055 422 132
Amounts due from a related company - 20,503 -
Inventories 3,584 3,788 448
Assets held for sale 25,647 - 3,205
--------- --------- ---------
- - -
TOTAL CURRENT ASSETS 103,241 70,987 12,905
PROPERTY AND EQUIPMENT 36,294 33,656 4,537
GOODWILL 21,915 - 2,739
--------- --------- ---------
- - -
TOTAL ASSETS 161,450 104,643 20,181
========= ========= =========
LIABILITIES AND SHAREHOLDERS' EQUITY
CURRENT LIABILITIES:
Accounts payable 1,011 934 126
Other payables 20,380 18,881 2,548
Advances from customers 7,040 1,174 880
Accrued liabilities 2,437 1,319 305
Current portion of capital lease 70 - 9
Amounts due to related parties 6,476 6,476 809
Amounts due to a director 13,482 23,644 1,685
Dividends payable 18,040 5 2,255
Taxes payable 4,224 2,545 528
Liabilities related to assets
held for sale 2,528 - 316
--------- --------- ---------
TOTAL CURRENT LIABILITIES 75,688 54,978 9,461
--------- --------- ---------
SHAREHOLDERS' EQUITY
Common shares, no par:
Authorized - 200,000,000 shares
Issued and outstanding -
11,548,416 and 1,247,823
shares in 2006 and 2005,
respectively 19,222 - 2,403
Additional paid-in capital - - -
Reserves 35,359 3,912 4,420
Retained earnings 30,952 45,513 3,869
Accumulated other comprehensive
income 229 240 28
--------- --------- ---------
TOTAL SHAREHOLDERS' EQUITY 85,762 49,665 10,720
--------- --------- ---------
TOTAL LIABILITIES AND SHAREHOLDERS'
EQUITY 161,450 104,643 20,181
========= ========= =========
The condensed consolidated statement of operations and comprehensive income (loss) for the six months ended June 30, 2006 (unaudited) and the condensed consolidated balance sheet as of June 30, 2006 (unaudited) have been prepared in accordance with generally accepted accounting principles in the United States but omit certain financial statements and footnote disclosure that would be included in full financial statements prepared in accordance with GAAP. The condensed consolidated statement of operations and comprehensive income (loss) for the six months ended June 30, 2006 (unaudited) and the condensed consolidated balance sheet as of June 30, 2006 (unaudited) are derived from, and should be read in conjunction with, the Company's unaudited condensed consolidated financial statements for the six months ended June 30, 2006 and 2005, which was filed with the Securities and Exchange Commission on November 13, 2006 under cover of Form 6-K. The results of operations for the six months ended June 30, 2006 are not necessarily indicative of the results of operations that may be expected for the year ending December 31, 2006.
This press release includes forward-looking statements within the meaning of federal securities laws. These forward-looking statements are based upon assumptions believed to be reliable, but involve risks and uncertainties that may cause actual results of operations to differ materially from the forward- looking statements. Among the risks and uncertainties that could cause our actual results to differ from our forward-looking statements are our intent, belief and current expectations as to business operations and operating results of the Company, uncertainties regarding the governmental, economic and political circumstances in the People's Republic of China, risks and hazards associated with the Company's mining activities, uncertainties associated with ore reserve estimates, uncertainties associated with metal price volatility, uncertainties associated with the Company's reliance on third-party contractors and other risks detailed from time to time in the Company's Securities and Exchange Commission filings. Although the Company's management believes that the expectations reflected in forward-looking statements are reasonable, it can provide no assurance that such expectations will prove to be accurate.
Source: China Natural Resources, Inc.
Anyone playing this?
China Natural Resources Releases 2006 Annual Results of OperationsWednesday May 2, 2:43 pm ET
HONG KONG, May 2 /PRNewswire-FirstCall/ -- China Natural Resources, Inc.
(Nasdaq: CHNR - News), a company based in the People's Republic of China, today
released audited financial statements for the year ended December 31, 2006 as
follows.
CONSOLIDATED STATEMENTS OF OPERATIONS
FOR THE YEARS ENDED DECEMBER 31, 2004, 2005 AND 2006
(Amounts in thousands, except share and per share data)
Year ended December 31,
2004 2005 2006 2006
RMB RMB RMB US$*
NET SALES 77,939 98,962 145,389 18,639
COST OF SALES (31,518) (38,402) (36,787) (4,716)
------ ------ ------ ------
GROSS PROFIT 46,421 60,560 108,602 13,923
SELLING, GENERAL AND
ADMINISTRATIVE EXPENSES (4,597) (9,172) (14,170) (1,817)
------ ------ ------ ------
INCOME FROM OPERATIONS 41,824 51,388 94,432 12,106
INTEREST INCOME 162 1,216 904 116
OTHER INCOME (EXPENSE), NET 6 (223) 4,929 632
------ ------ ------ ------
INCOME FROM CONTINUING
OPERATIONS BEFORE INCOME
TAXES 41,992 52,381 100,265 12,854
INCOME TAXES - (8,335) (15,157) (1,943)
------ ------ ------ ------
INCOME FROM CONTINUING
OPERATIONS 41,992 44,046 85,108 10,911
------ ------ ------ ------
DISCONTINUED OPERATIONS
Income from discontinued
bleaching earth segment 12 - - -
Loss from discontinued
advertising and HARC
operations, net of taxes
of nil - - (659) (84)
Loss on disposal of
discontinued operations,
net of taxes of nil - - (11,901) (1,526)
------ ------ ------ ------
INCOME/(LOSS) FROM
DISCONTINUED OPERATIONS 12 - (12,560) (1,610)
------ ------ ------ ------
NET INCOME 42,004 44,046 72,548 9,301
====== ====== ====== ======
INCOME PER SHARE:
Basic
Income from continuing
operations 4.21 4.41 7.46 0.96
Loss from discontinued
operations - - (1.10) (0.14)
------ ------ ------ ------
4.21 4.41 6.36 0.82
====== ====== ====== ======
INCOME PER SHARE:
Diluted
Income from continuing
operations 3.74 4.36 6.17 0.79
Loss from discontinued
operations - - (0.91) (0.12)
------ ------ ------ ------
3.74 4.36 5.26 0.67
====== ====== ====== ======
WEIGHTED AVERAGE NUMBER OF
SHARES OUTSTANDING
Basic 9,980,593 9,980,593 11,402,372 11,402,372
========= ========= ========== ==========
Diluted 11,245,975 10,110,036 13,798,731 13,798,731
========== ========== ========== ==========
CONSOLIDATED BALANCE SHEETS
DECEMBER 31, 2005 AND 2006
(Amounts in thousands, except share data)
2005 2006 2006
RMB RMB US$*
ASSETS
CURRENT ASSETS
Cash and cash equivalents 41,202 136,991 17,563
Trade receivables, net of
allowance of RMB307 and
RMB311, respectively 4,622 504 65
Bills receivable 450 - -
Other receivables, deposits
and prepayments 422 604 77
Amount due from a related
company 20,503 - -
Inventories 3,788 5,231 671
------ ------ ------
TOTAL CURRENT ASSETS 70,987 143,330 18,376
PROPERTY AND EQUIPMENT, NET 33,656 37,435 4,799
------ ------ ------
TOTAL ASSETS 104,643 180,765 23,175
======= ======= ======
LIABILITIES AND SHAREHOLDERS' EQUITY
CURRENT LIABILITIES
Accounts payable 934 1,231 158
Other payables 18,881 28,509 3,655
Advances from customers 1,174 2,650 340
Accrued liabilities 1,319 2,371 304
Amount due to a director 23,644 8,594 1,102
Amount due to a related company 6,476 3,444 441
Dividends payable 5 170 22
Taxes payable 2,545 3,265 418
------ ------ ------
TOTAL LIABILITIES - ALL CURRENT 54,978 50,234 6,440
------ ------ ------
SHAREHOLDERS' EQUITY
Common shares, no par:
Authorized - 200,000,000 shares;
Issued and outstanding
- 11,548,416 shares in 2006 - 47,250 6,058
Reserves 3,912 7,331 940
Retained earnings 45,513 76,180 9,767
Other comprehensive income/(loss) 240 (230) (30)
------ ------ ------
TOTAL SHAREHOLDERS' EQUITY 49,665 130,531 16,735
------ ------ ------
TOTAL LIABILITIES AND
SHAREHOLDERS' EQUITY 104,643 180,765 23,175
======= ======= ======
* Based on an exchange rate of U.S.$1.00 = RMB7.80 on December 31, 2006.
Amounts have been converted from Renminbi to U.S. dollars for
convenience, and no representation is made that RMB amounts could have
been, or could be, converted into U.S. dollars at the stated rate or any
other rate.
The consolidated statement of operations for the year ended December 31, 2006 and the consolidated balance sheet as of December 31, 2006 have been prepared in accordance with generally accepted accounting principles in the United States, and are derived from, and should be read in conjunction with, the Company's consolidated financial statements for the years ended December 31, 2004, 2005 and 2006, as filed with the Securities and Exchange Commission on May 2, 2007 under cover of Form 20-F.
Mr. Feilie Li, the Company's Chairman, commented on the results, "2006 was a solid growth year for China Natural Resources. A strong economy in China boosted zinc demand despite high prices. We shall actively seek opportunities for expansion and growth through acquisition of new mines to broaden our overall output capacities."
This press release includes forward-looking statements within the meaning of federal securities laws. These forward-looking statements are based upon assumptions believed to be reliable, but involve risks and uncertainties that may cause actual results of operations to differ materially from the forward- looking statements. Among the risks and uncertainties that could cause our actual results to differ from our forward-looking statements are our intent, belief and current expectations as to business operations and operating results of the Company, uncertainties regarding the governmental, economic and political circumstances in the People's Republic of China, risks and hazards associated with the Company's mining activities, uncertainties associated with ore reserve estimates, metal price volatility, the Company's reliance on third-party contractors, dependence on a single customer and other risks detailed from time to time in the Company's Securities and Exchange Commission filings. Although the Company's management believes that the expectations reflected in forward-looking statements are reasonable, it can provide no assurance that such expectations will prove to be accurate.
More Chinese craziness (that I wish I were part of). Watch it for a shorting opportunity.
(http://www.imagehosting.com/out.php/i1210179_sc.png)
Quote from: Kublakhan on October 02, 2007, 07:30:24 PM
More Chinese craziness (that I wish I were part of). Watch it for a shorting opportunity.
(http://www.imagehosting.com/out.php/i1210179_sc.png)
Wow, yet another rocket. Be careful shorting, it might have a lotta fuel left.
Up another 50%.
This is unbelievable!
Did you get in Sully? Truly a sight to see.. I've seen some what I would call "irrational exuberance" before, but this is almost getting out of control. If there's this much value there, why did everyone think it was worth 80% less 2 or 3 weeks ago?
I just can't buy it.
CHL had pretty good fundamentals about a month ago, but I think even it is getting ahead of itself. China Life has gone berserk..Aluminum of China. This is getting out of control. I've convinced myself I think there has to be some kind of correction.
The question is..will it affect other emerging markets and US markets?
Quote from: bjc on October 03, 2007, 12:48:06 PM
This is unbelievable!
Did you get in Sully? Truly a sight to see.. I've seen some what I would call "irrational exuberance" before, but this is almost getting out of control. If there's this much value there, why did everyone think it was worth 80% less 2 or 3 weeks ago?
I just can't buy it.
CHL had pretty good fundamentals about a month ago, but I think even it is getting ahead of itself. China Life has gone berserk..Aluminum of China. This is getting out of control. I've convinced myself I think there has to be some kind of correction.
The question is..will it affect other emerging markets and US markets?
Not in CHNR. I certainly agree with what you are saying and I have have had to cut back on some of my more overheated positions, but there may still be some good values out there pre rocket. We have been discussing it on the member boards. Are you still a member bjc?
I was considering shorting this morning if it gapped up - good thing I/it didn't. :o
Quote from: Kublakhan on October 03, 2007, 03:07:23 PM
I was considering shorting this morning if it gapped up - good thing I/it didn't. :o
Yeah, don't underestimate the fuel capacity in these things. I thought JRJC would never see $44.50 again, but lo and behold it hit another high today. back below $44.50 now. I'm too conservative to play most of these rockets long or short.
Quote from: BigSully1 on October 03, 2007, 03:18:42 PM
Quote from: Kublakhan on October 03, 2007, 03:07:23 PM
I was considering shorting this morning if it gapped up - good thing I/it didn't. :o
Yeah, don't underestimate the fuel capacity in these things. I thought JRJC would never see $44.50 again, but lo and behold it hit another high today. back below $44.50 now. I'm too conservative to play most of these rockets long or short.
I might try to short LDK tommorrow if shares are available. Sitting right on top it's 50MA right now, but doubt it'll hold on bad news.
http://stockcharts.com/h-sc/ui?s=LDK&p=D&b=5&g=0&id=p59191861522
Sully-
I was never a member. I'm finishing up my last semester of college, so I don't really have the cash lying around to pay for the membership.
I'd be interested to hear some of what you guys have been discussing if its by the book and it doesn't violate any 3sof rules or anything.
I saw CDS flashing on the bottom of CNBC today...thought "it might be the next rocket, and i'll probably kick myself tomorrow if it is, but this just isn't my game." I know the second I hop on the bandwagon everything will start to collapse.
About CDS, chart looks good...it isn't up over four gazillion % yet....my only bullish thoughts. Haven't given any look at fundamentals. I wouldn't touch a Chinese equity with a ten foot pole right now.
On second glance, CDS is about a triple in the past 3 months. AHH!!!!!!!
Sully, I'd be careful with LDK!
I'd compare the solar issues to China stocks. They have the ability to TAKE OFF.
Also, LDK has real earnings. Real cash dollars and they're growing fast. Personally, I'd tend to think this is more of a buying opportunity / overreaction to the sell side than an opportunity to short. LDK forward PE in the 30s. They made $0.29 last quarter and they're growing fast. I certainly wouldn't be a buyer tomorrow, as I don't like to catch "falling knives," but there could be some exceptional value presented soon.
I've been waiting for a reasonable entry on a good solar stock. In a perfect world you could make a killing on the short side and then I could pick up some cheap shares in the 30s. ;D I think the area I have circled in the chart should provide some pretty good support. I am of the opinion the market will react quickly to this bargain.
I can understand the college and money thing, bjc, but I couldn't really disclose whats being said without David's permission.
Anyway, you're right about LDK. I'm not short anything right now. Think theres alot more money to be made on the long side and not really looking for shorts.
I've never spoken my mind on this, but I don't think David should've ever made the board premium.
I guess maybe you guys have a great community over there, but I thought the best 3sof days were back in 05 when the site was all open. You'd get the first page of the stock picking page full in a trading day! Now it's 3, 4 maybe a few more picks a day.
And what's with all the controversy? I feel like 3sof is a soap opera. Where was David for a few months a year or two ago? Where did eliteg go? Where is Michael, one of the premier fundamenal analysts I've ever had the pleasure to observe (sent him a PM, he's very concerned about the markets due to credit crunch and holding nearly all cash / t-bills.)?
Did the 3sof team ever offer any refund / extension of membership for all those bogus happenings?
LDK looks good. I'm of the opinion yesterday's selloff was just tons of stops being taken out..the value is there. This is probably a triple digit stock sooner rather than later.
Hit $50. A 5 bagger in 2 weeks. I thought that only happened in penny land.
Quote from: bjc on October 04, 2007, 02:20:53 AM
Sully, I'd be careful with LDK!
I'd compare the solar issues to China stocks. They have the ability to TAKE OFF.
Also, LDK has real earnings. Real cash dollars and they're growing fast. Personally, I'd tend to think this is more of a buying opportunity / overreaction to the sell side than an opportunity to short. LDK forward PE in the 30s. They made $0.29 last quarter and they're growing fast. I certainly wouldn't be a buyer tomorrow, as I don't like to catch "falling knives," but there could be some exceptional value presented soon.
I've been waiting for a reasonable entry on a good solar stock. In a perfect world you could make a killing on the short side and then I could pick up some cheap shares in the 30s. ;D I think the area I have circled in the chart should provide some pretty good support. I am of the opinion the market will react quickly to this bargain.
Looks like LDK would have been a good short, at least ST.. Back down to the $40 area now Do you think a good buying opportunity now? I'm thinking avoid.
It's so volatile for my blood. I don't like the idea of losing 20% plus in a day.
I'm confident it will be an excellent long term investment. It's only trading at ~25x analysts expectations for earnings in the next 4 Qs. For the explosive growth this sector is going to experience, I think this is amazing value.
Its just such a yoyo! I guess there is some kind of probe on their inventory. I like the stock here, but its just too risky for me. It does look like its coiling around 41 for a little rally.
Quote from: bjc on October 08, 2007, 01:44:35 PM
It's so volatile for my blood. I don't like the idea of losing 20% plus in a day.
I'm confident it will be an excellent long term investment. It's only trading at ~25x analysts expectations for earnings in the next 4 Qs. For the explosive growth this sector is going to experience, I think this is amazing value.
Its just such a yoyo! I guess there is some kind of probe on their inventory. I like the stock here, but its just too risky for me. It does look like its coiling around 41 for a little rally.
I guess their should have been a board started for LDK. Up 15% P.M. on this;
8:50AM LDK Solar raises Q3 revenue guidance above consensus; says no merit to allegations (LDK) 37.50 : As mentioned at 08:46, LDK raised guidance for Q3 (Sep), sees Q3 (Sep) revs of $140-150 mln vs. $121.07 mln Reuters Estimates consensus, prior guidance $115-125 mln. Co said that it exceeded its original plan and shipped approximately 75 MW of wafers in the third fiscal quarter ended September 30, 2007. LDK management stands by its internal review of the inventory and does not believe there are any material inconsistencies with what LDK has disclosed in its financial statements. "As we previously indicated, we believe that there is no merit in the allegations made about our inventory accounting practices, our business operations are normal and we continue making shipments to fulfill our customers' orders," stated Xiaofeng Peng, Chairman and CEO. "We remain confident that we have the appropriate financial controls and procedures in place for inventory reporting, and look forward to putting this unfortunate matter behind us."
Sully-
Stop bringing this up..it's starting to tempt me!
I want to take a 1/3 or half position. I can't handle the swings of having a full position in this, at least until things shake out with the probe. They are going to announce about $0.40 a share and wall street is going to go crazy. This should at least trade at a forward PE of an APPL or GOOG, both I believe in the 40 range? 40 x 1.6 = at least 64. With some momo, 80.
bjc, I'm not trying to tempt, just to keep informed. I'm undecided on this one.
I know, Sully, I was just kidding.
I had my finger on the trigger at 40 earlier! 47 now..oh well. Win some ya lose some, and I guess I didn't really even lose this one, just missed it.
Up over 50% today but I don't know why.
1:10PM China Natl Resources agrees to acquire Copper Smelter located in inner Mongolia (CHNR) 25.40 +1.64 : Co announces that it entered into an agreement with Feishang Group Limited pursuant to which China Natural Resources will acquire 100% of the issued and outstanding capital stock of Mark Faith Technology Development. The purchase price is equal to the lesser of the audited consolidated net asset value of Mark Faith as at December 31, 2007 and ~$3.3 mln. In addition, co will pay Feishang Group Limited ~$6.5 mln in satisfaction of outstanding indebtedness of Mark Faith.