3SOF

This is a shocker, XING is entering the Mining business:

• Message from Chairman of Qiao Xing Universal on the Company's Direction of Business Development, an Intended Acquisition and a Plan to Dispose of Certain Idle Assets
PR Newswire (Tue 7:00am)

What does XING management know about mines? This sounds like "deworsification", using Peter Lynch's term.

This reminds of CHID.OB, another Chinese company which used to make batteries for mobile devices and suddenly it changed its business model to tourism or something like that.

This announcement has red flags all over the place, I hope I'm wrong, or else "Xingalings" will take a beating. 

Quote from: David Randolph on November 27, 2007, 11:30:06 AM
This is a shocker, XING is entering the Mining business:

• Message from Chairman of Qiao Xing Universal on the Company's Direction of Business Development, an Intended Acquisition and a Plan to Dispose of Certain Idle Assets
PR Newswire (Tue 7:00am)

What does XING management know about mines? This sounds like "deworsification", using Peter Lynch's term.

This reminds of CHID.OB, another Chinese company which used to make batteries for mobile devices and suddenly it changed its business model to tourism or something like that.

This announcement has red flags all over the place, I hope I'm wrong, or else "Xingalings" will take a beating. 

I've been bearish on XING for a long time and have been wondering why the stock didn't fell, it even rose a bit, after XING's sudden move to mining.

Today quarterly results were out ...

• Qiao Xing Universal Telephone, Inc. Announces 2007 Third Quarter Financial Results
PR Newswire (Thu 7:55am)

... and the stock is down 17% to a new 52 week low.

XING is awful at reporting and communicating to shareholders. Now they don't disclose the # of shares outstanding on a fully diluted basis:



If they're hiding it, it's because it's bad. I'll continue to avoid XING.

David

Is that good sign for buying XING back?

http://biz.yahoo.com/prnews/071227/cnth012.html?.v=40

Notbeln

Quote from: notbeln on December 28, 2007, 12:53:55 PM
David

Is that good sign for buying XING back?

http://biz.yahoo.com/prnews/071227/cnth012.html?.v=40

Notbeln

Hi Notbeln, sorry, I just saw your question now.

Let me see, XING had that 17.6% gap up (after a -16.6% gap down) on the following news:

• Qiao Xing Universal Telephone, Inc.'s Major Indicators of Financial Performance for 2007 Expected to Reach a Record High
PR Newswire (Thu, Dec 27)

XING's management is full of tricks, now they talk a lot about "basic EPS". I don't care about "basic", I want to know about the fully diluted earnings. What is XING's share count on a fully diluted basis? Nobody knows for sure (beyond corporate insiders) and until XING files a form 10 with the SEC, I will never be confident enough to buy it, nevermind the declared operational results.

My recommendation for XING continues to be "avoid".

How about now?

QuoteXING's management is full of tricks, now they talk a lot about "basic EPS". I don't care about "basic", I want to know about the fully diluted earnings. What is XING's share count on a fully diluted basis? Nobody knows for sure (beyond corporate insiders) and until XING files a form 10 with the SEC, I will never be confident enough to buy it, nevermind the declared operational results.

My recommendation for XING continues to be "avoid".

Hmm, XING had a 40% rebound or so, probably due to the following news:

Qiao Xing Universal's CECT Subsidiary Releases Newest Handset Model: C7000A Offers Cardiograph, 120 Days Ultra-Long Standby and 3.0" LCD Screen
PR Newswire (Fri, Feb 29)

I'm thinking that we should also have QXM in the Watch List, which resulted from XING's spin off.

XING still didn't file a form 10 with the SEC or disclosed an accurate number of warrants outstanding, so I still don't know what is the # of shares outstanding on a fully diluted basis. In the meantime holders of shares and warrants continue to file stuff like this:

http://www.sec.gov/Archives/edgar/data/1051846/000121865008000014/xing12312007.txt

«51,000,000 Convertible Bonds convertible to 5,802,496 shares of Common Stock»

XING is a good candidate for a short sale, in my view. The descending trendline currently stands at $7.80, that would be the ideal place for a sale.

I'll keep waiting for a touch on the resistance.

the 3 year chart...