3SOF

thanks Michael & MelfElf 

I am counting down the days before our move to Singapore
cheers
Oliver

Thank You , Michael for excellent pick!

But I have the feeling that 3SOF sold at very low price..
In case of XING FA much more important than TA , IMHO 


Best,
Vova

Monday 18th Dec would be a logical day to release those promised Q3 financials including EPS (promised to release in Dec).

Though not too much with XING is logical!!

Aussie

Keep your fingers crossed 
I'm with You

FRiday 22nd it is then:

HUIZHOU, Guangdong, China, Dec. 22 /Xinhua-PRNewswire/ -- Qiao Xing Universal
Telephone, Inc. (Nasdaq: XING) releases today its Un-audited Income Statement
for the Three Months Ended September 30, Un-audited Balance Sheet as at June 30,
2006 and Income Statement for the Six Months Ended June 30, 2006, and provides
an update on the acquisition of the remaining 20% equity in Qiao Xing Mobile
Communication Co., Ltd.


Un-audited Income Statement for the Three Months Ended September 30


For the third quarter of 2006, XING's sales revenue, income from operations and
net income all increased significantly to reach USD107.7 Million, USD21.0
Million and USD13.2 Million respectively. The significant growth was primarily
driven by the popularity of the "CECT" branded 'A1000' and 'IP1000' Models and
the increasing brand recognition and the expanding distribution network of its
'COSUN' branded mobile phones business. The Basic earnings per common share
after extraordinary gain for the third quarter was USD56 cents. The Un-audited
Income Statement for the Three Months Ended September 30 can be found in
Appendix I below


Un-audited Balance Sheet as at June 30, 2006 and Income Statement for the Six
Months Ended June 30, 2006


For the six months ended June 30, 2006, the company recorded USD177.5 million,
USD15.4million and USD12.5 million for its Net sales, Income from operations and
net income before option charge respectively.

In the first half of 2006, the Company granted to certain employees and
an external consultant stock options to purchase all the 2,000,000 shares
of common stock authorized and reserved for issuance under the Stock
Compensation Plan set up in 2005.

Mr. Wu Rui Lin, Chairman of XING, said, "The granting of stock options, though
representing an expense in the income statement and having a dilutive effect on
earnings, has the advantage of not involving any outflow of cash. In fact, for
some senior employees, the lion's share of their total remuneration package is
in stock options. The share-based compensation recorded for 2006 H1 related to
the 2005 Plan, and was for services rendered over a long period of time.

"There are many different approaches to the treatment of options. 
The Black-Scholes Model has been used for the income statement for the six
months ended June 30, 2006 of XING presented in this press release.  RMB 58.4
million (USD 7.3 million) of share-based compensation expenses has been recorded
as a result.

"However, as all the options to purchase 2,000,000 shares were exercised within
a very short period of time (less than two months) of their grant, a case can be
made for using the intrinsic value method for compensation cost measurement. 
Intrinsic value is the excess of the market price of the underlying stock over
the exercise price of a related stock option. "Using the Black-Scholes Model,
the net income was $5.2 million.  Using the intrinsic value approach, the net
income would have been $ 12.5 million instead.  No matter which approach to use,
it has no impact on the cash flow situation of the company."

For nine months ended September 30, 2006, the company recorded net sales of
US$285.2 million and income from operation of US$36.3 million.  Net income and
basic earnings per share were US$18.4 million and USD 80 cents respectively
using the Black-Scholes Model.  If the intrinsic value method had been used,
they respectively would have been US$25.7 million and USD1.13 instead.

The un-audited consolidated balance sheet as at June 30, 2006 and the
un- audited consolidated income statement for the six months ended June 30, 2006
can be found in Appendix II below


Other Event

In November, the Company completed the acquisition from the minority shareholder
of the remaining 20% equity in Qiao Xing Mobile Communication Co., Ltd, an
investment holding company that owns 93.4% of the equity interests in the mobile
phone handset maker CEC Telecom Co., Ltd. (CECT). As a result, Qiao Xing
Universal's effective shareholding in CECT has increased from 74.7% to 93.4%.

On a pro forma basis assuming that the transaction had taken place on January 1,
2006, it would increase the net income of the company for the nine months ended
September 30, 2006 to USD 24.8 million using the Black-Scholes Model for the
measurement of stock-based compensation cost.  If the intrinsic value method had
been used, it would have been USD 32.1 million instead.

    Appendix I

             QIAO XING UNIVERSAL TELEPHONE, INC. AND SUBSIDIARIES
                     CONSOLIDATED STATEMENT OF OPERATIONS
                                AND NET INCOME
                FOR THE THREE MONTHS ENDED SEPTEMBER 30, 2006


                                                            2006 Q3
                                                     Rmb'000       US$'000
                                                  (Un-audited)   (Un-audited)

    Net sales                                        851,236        107,697
    Cost of goods sold                              (659,771)       (83,473)

      Gross profit                                   191,465         24,224

    Operating expenses:
    Selling expenses                                  (8,826)        (1,117)
    General, administrative and R&D expenses         (14,465)        (1,830)
    Amortization of acquired intangible assets        (2,405)          (304)

      Income from operations                         165,769         20,973

    Interest expense, net                            (12,880)        (1,630)
    Exchange gain, net                                 4,425            560
    Amortization of discount on bonds                 (9,489)        (1,201)
    Other expenses, net                                 (249)           (32)

      Income before income tax                       147,576         18,671

    Provision for income tax                         (23,804)        (3,012)

      Income before minority interests               123,771         15,659

    Minority interests                               (34,219)        (4,329)

      Net income before extraordinary item            89,552         11,330

    Extraordinary item - gain on acquisition
    of additional equity interest in a subsidiary     14,398          1,822

    Net income                                       103,950         13,152


    Basic earnings per common share
      Before extraordinary gain                          Rmb           US$
                                                        3.74          0.48
      Extraordinary gain                                 Rmb           US$
                                                        0.61          0.08
      After extraordinary gain                           Rmb           US$
                                                        4.35          0.56

    Diluted earnings per common share
      Before extraordinary gain                          Rmb           US$
                                                        3.39          0.43
      Extraordinary gain                                 Rmb           US$
                                                        0.48          0.06
      After extraordinary gain                           Rmb           US$
                                                        3.87          0.49

    Weighted average number
     of shares outstanding
      - Basic                                     23,707,000     23,707,000
      - Diluted                                   29,726,000     29,726,000


    Appendix II

             QIAO XING UNIVERSAL TELEPHONE, INC. AND SUBSIDIARIES
                          CONSOLIDATED BALANCE SHEET
                             AS OF JUNE 30, 2006

                                                          June 30, 2006
                                                    Rmb'000         US$'000
                                                 (Un-audited)     (Un-audited)
    ASSETS

    Current assets:
      Cash and cash equivalents                      579,528         72,493
      Restricted cash                                195,109         24,406
      Accounts and bills receivable                  891,381        111,503
      Inventories                                    211,037         26,398
      Prepayments and other current assets           641,449         80,238
        Total current assets                       2,518,504        315,038

    Property, plant and equipment                    292,372         36,573
    Prepayment for purchase of
     property, plant and equipment                   358,742         44,875
    Other non-current assets                           9,046          1,132
    Investments at cost                                7,634            955
    Goodwill                                          72,088          9,017
    Other acquired intangible assets, net             43,418          5,431
    Discount on bonds                                 57,139          7,147

        Total assets                               3,358,943        420,168


    LIABILITIES, MINORITY INTERESTS AND
     SHAREHOLDERS' EQUITY

    Current liabilities:
      Short-term borrowings                          920,880        115,192
      Accounts payable                               212,100         26,531
      Accrued liabilities                             79,637          9,962
      Deposits received, deferred revenues
       and other current liabilities                 114,216         14,287
        Total current liabilities                  1,326,833        165,972

    Shareholders' loans                                7,885            986
    Bonds                                            319,772         40,000

        Total liabilities                          1,654,490        206,958

    Minority interests                               270,001         33,774


    Shareholders' equity:
      Common stock, par value Rmb0.008
       (equivalent of US$0.001); authorized
       50,000,000 shares; outstanding
       and fully paid - 23,651,692
       as of June 30, 2006                               195             24
    Additional paid-in capital                       907,768        113,552
    Retained earnings                                525,267         65,705
    Cumulative translation adjustments                 1,224            153

        Total shareholders' equity                 1,434,454        179,434

        Total liabilities, minority
         interests and shareholders' equity        3,358,945        420,166


             QIAO XING UNIVERSAL TELEPHONE, INC. AND SUBSIDIARIES
                     CONSOLIDATED STATEMENT OF OPERATIONS
                                AND NET INCOME
                    FOR THE SIX MONTHS ENDED JUNE 30, 2006

                                                        2006 First half
                                                    Rmb'000         US$'000
                                                  (Un-audited)   (Un-audited)

    Net sales                                      1,419,316        177,541
    Cost of goods sold                            (1,165,215)      (145,756)

      Gross profit                                   254,101         31,785

    Operating expenses:
    Selling expenses                                 (22,438)        (2,807)
    General and administrative expenses
     including stock-based compensation              (91,241)       (11,413)
    Research and development                         (12,754)        (1,595)
    Amortization of acquired intangible assets        (4,809)          (602)

      Income from operations                         122,859         15,368

    Interest income                                    3,412            427
    Exchange gain, net                                   473             59
    Interest expense                                 (23,890)        (2,988)
    Amortization of discount on bonds                 (1,736)          (217)
    Other income, net                                  2,865            358

      Income before income tax                       103,983         13,007

    Provision for income tax                         (23,329)        (2,918)

      Income before minority interests                80,654         10,089

    Minority interests                               (38,800)        (4,853)

      Net income                                      41,854          5,236


    Earnings per common share
      - Basic                                            Rmb           US$
                                                        1.89           0.24
      - Diluted                                          Rmb           US$
                                                        1.83           0.23


    Weighted average number of shares outstanding
      - Basic                                     22,175,000     22,175,000
      - Diluted                                   22,834,000     22,834,000

I didn't see today action for very very long time 
Well , may be $20 around the corner 

XING breaking out of its bottom today

December 22, 2006
Qiao Xing Surges After Earnings Report

In a filing with the Securities and Exchange Commission recently, Qiao Xing Universal Telephone Inc. (NASDAQ: XING) disclosed 4.04 million shares of common stock would be sold from time to time by a number of selling holders. Bear Stearns Management also announced it would sell a portion of its 1.1 million share stake of the company. However, shares of Qiao Xing today are shrugging off that news after the company reported third quarter revenue of $107.7 million and net income of $13.2 million, or 49 cents per share. The stock is up strongly, higher by $1.86, or 15.71%, to $13.72 on heavy volume of 2.2 million shares, or more than double its daily average volume. Though receiving strong market attention, the company has failed to attract analyst coverage except for Dutton Associates, an issuer-paid equity research firm, which currently has a "buy" rating on the stock and a $17.00 price target. Until that day comes, Qiao Xing will continue to lack prime time visibility in the investment community. At the same time, though, it will allow for the smart money to buy shares relatively cheaply as the stock trades at a very low earnings multiple compared to its industry peers.

http://www.antandsons.com/2006/12/qiao-xing-surges-after-earnings-report.html

http://www.antandsons.com/2006/12/qiao-xing-surges-after-earnings-report.html

Quote from: Tirebldr on December 22, 2006, 11:57:59 AM
XING breaking out of its bottom today

Art,

XING rallied to 13.87, within a penny of the 13.88...13.88...13.90 Decending Traingle resistance.  The chart would have a nice look to it if XING could do something like put in a Right Shoulder here, use the bottom of the Descending Triangle as the neckline of a Bullish Inverse H&S, then take it out to the upside.

fyi:
Dutton Update 

for all board members 
Dutton Update

cheers
Oliver

as expected Melf Elf 

hi aussie,
hope you have enjoyed your holidays
what´s your opinion about XING chart action?


cheers
Oliver

Quote from: la-onda on December 26, 2006, 10:28:26 AM
as expected Melf Elf 

Oliver,

Structurally, I would have liked a Right Shoulder here, rather than XING trying to ram its way through the Descending Triangle resistance, beginning at 13.88-13.90, since "former support 'should' now act as resistance,  but I'm glad that it's rallying for you. 

The Descending Triangle target of 10.60 is ON HOLD as long as XING continues to trade above 13.88.

XING currently is BID 13.98...ASK 13.99

Good luck!