Searching for treasures in China - TBYH.OB

[la-onda]

updated chart; on very low volume

[Fré]

When I look for the fundamentals of a stock I make a list of pro's and con's.

The pro's have been described here before (0.35 eps, nice growth, no need for additional capital)

What I find very strange is that I don't find a real problem of a reason why this stock is so undervalued.
The only explanation i can find is the huge amount of account receivables, but they're working on that. Another reason might be the low volume, but that's not really convincing either.

Anyone who can give me some reasons NOT to buy this stock? thx

[Fré]

Dear Frederic:
T-Bay Holdings will file Form 10K first period of ten days in July. Thank you for your support on company.

Jack
T-Bay Holdings Inc.
Tel: 86-21-64814605
Fax: 86-21-64814605

[chinaman711]

TBYH supplys CECT which is owned by XING another chinese company. Check mondays news for XING looks good for this year and years to come. I like both companys long term as china plays. Do you have a target on TBYH and whats your take on XING. Thanks

[alien41]

FYI

T-Bay Holdings Reports Fiscal 2006 Year End Results
Monday July 17, 6:00 am ET 
- Gross Profit Up 64.7%; EPS Up 112.5% -


EAGLE, Idaho, July 17 /PRNewswire-FirstCall/ -- T-Bay Holdings, Inc. (OTC Bulletin Board: TBYH - News), a leading mobile telecommunications device designer, today announced its financial results for the fiscal year ended March 31, 2006. Full details of the Company's year-end financial results are available in the Company's Form 10-KSB at http://www.sec.gov.

    Full Year 2006 Financial Highlights:

    *  Revenues for the year ended March 31, 2006 totaled $25,527,000, a 24.6%

       decrease from revenues of $33,864,000 for the year ended March 31,
       2005.

    *  Gross profit totaled $15,915,000 in fiscal 2006, an increase of 64.7%
       over gross profit of $9,661,000 in fiscal 2005.  The gross profit
       margin for the full year of 2006 increased to 62.3%, from 28.5% for the

       full year of 2005.

    *  Net income totaled $10,082,000 at year-end 2006, increasing 128% from
       net income of $4,421,000 at year-end 2005.  The Company reported
       earnings per share of $0.34 for fiscal 2006, versus $0.16 for
       fiscal 2005.

    *  As of year-end 2006, cash and equivalents totaled $4,673,000 and
       shareholders' equity totaled $17,837,000.  Weighted average shares
       outstanding increased to 29,273,000 for fiscal 2006 from 26,988,000 for

       fiscal 2005.

Looks good.......Alien

[Fré]

Any ideas why this stock is performing so badly despite good fundamentals?

[digdug42]

I don't know either, but it has bounced and is making a nice run back up with volume. Hopefully it will bust through that 200ma today and stay above it.

[digdug42]

tbyh has made a great recovery. volume is getting better

[Fré]

Great numbers (again):

ESULTS OF OPERATIONS THREE MONTHS ENDED JUNE 30, 2006 AND 2005

Overview

For the three months ended June 30, 2006, our net revenue increased by US$764,000 from US$3,098,000 to US$3,862,000, which represented a 24.7% growth. Our net income increased by US$1,372,000 from US$556,000 to US$1,928,000, which represented a 246.8% growth. Revenue from design services, which generally has a higher profit margin than selling whole mobile handsets, continuously increased significantly. We reported per share earning of US$ 0.06 in three months ended June 30, 2006.

Nice growth
Very profitable
No dilution issues (no options or warrants)

What do you want more?

[raspi]

Among the number of great reports published today (AOB, CHID, CXTI), I think I like this one the most:
http://yahoo.brand.edgar-online.com/fetchFilingFrameset.aspx?FilingID=4766242&Type=HTML
EPS for the 3rd Q 0.09  ! I hope the PPS will finally reflect the great fundamentals...

[Michael]

Great numbers (again):

Nice growth
Very profitable
No dilution issues (no options or warrants)

What do you want more?

Yeah once again TBYH is delivering on their promises.

I guess that what the market really wants is some PR that can put this one on fire. TBYH is genrating great results but the reporting is almost understated. I have already added to my position today. These situations represent a great opportunity for those who are folllowing the stock.

TBYH's market cap is 54 million USD they generated 9.7 million cash from operation in the first 6 month. By the end of the day cash will talk......

[Michael]

It is sometimes challenging to be a value investor. When I added to my position after the release of Q3 I thought I was the last person on earth that even read TBYH's 10Q.

Well it seems like I am not alone. TBYH is up 15% today.

Don't chase it. T-Bay is suffering under a severe case of ignorance. This is a buying opportunity for me but unless they release some news there will be opportunities to get in below the close today.

[Michael]

Don't chase it. T-Bay is suffering under a severe case of ignorance. This is a buying opportunity for me but unless they release some news there will be opportunities to get in below the close today.

On the other hand don't wait too long 

There was as expected a chance to buy TBYH a bit lower but today the company released great news:

T-BAY Announces Solutions Based on VIA Chipsets
Monday December 18, 9:00 am ET


SHANGHAI, China, Dec. 18 /Xinhua-PRNewswire-FirstCall/ -- T-BAY Holdings, Inc. (OTC Bulletin Board: TBYH - News) announced today that it has launched two mobile handset design solutions that are based on the VIA chipset platform. They are currently selling two solutions, Series No. 27xx and 22xx, and receiving large orders from our customers. The release of the new solutions based on the VIA chipset platform indicates that T-Bay has successfully expanded its product line in the market place.

The R&D of the three VIA-based solutions, which commenced in August, was completed within 3 months. ''We are very pleased with the newly introduced solutions with the VIA chipset platform,'' said Xiaofang Li, the CEO of TBAY Holdings, Inc. ''We had our products tested thoroughly for a month and the entire design work completed within two months, by the end of October. It illustrates our strong R&D capacity and the release of VIA solutions will enrich our product line to cover a broader marketplace.'' These new solutions are targeted at the middle-range and low-end markets with the handsets' retail price ranging from RMB700-1100, (USD$89-140). The embedded functions in the handsets, such as 300k-pixel camera, Mp3/Mp4, IP dialing, T-flash, and USB Access, are designed for easy operation. ''Customers in the low-end market tend to focus more on price and appearance of mobile handsets,'' said Xiang Lushi, Marketing Manager of T-Bay, ''We believe we have distinctive advantages in external design, and the price of these two solutions are considered competitive.''

The management are anticipating good sales performances from these new solutions. Xiaofeng Li said, ''So far we have already secured more than two customers for each of the new solutions and we are expecting a few more new customers shortly. We expect VIA based solutions will account for 20-30% of our solution lines by volume and 15%-20% of our revenue in the third fiscal quarter.''

''The two newly-introduced solutions will complement our previous solutions, which are mainly targeted at the middle-range and high-end markets. We are now offering a wider range of products to our customers. Other new solutions including enhanced versions of existing solutions, also based on the VIA chipset platform, will be released in the next few months based on the market responses,'' said Xiaofeng Li.

This news is important for two reasons: First of all they are now adressing the low end of the market which everything else equal should contribute to their growth but is is also a confirmation that they now have two chipsets  to work with: Skyworks and VIA.

Finally enjoy the chart. I would love it to close above 2 but there might still be a chance to pick some shares below 

[Fré]

Idd, the stock is finally waking up. Maybe we'll see the same run as last year ($1,30 -> $4,20)?
Anyway, the stock is greatly undervalued (p/e '07 = 5), so I'll hold on and wait until this baby gets the value it deserves.
GL Michael

Fred.

[Michael]

Idd, the stock is finally waking up. Maybe we'll see the same run as last year ($1,30 -> $4,20)?
Anyway, the stock is greatly undervalued (p/e '07 = 5), so I'll hold on and wait until this baby gets the value it deserves.
GL Michael
Fred.

Good luck to you as well Fred

It seems we finally get a little action. I have not been able to find any news so either something is in the making or we are just catching up to fair value