YZJ Shipbldg SGD    Last:2.2    -0.01

Yangzijiang Chart Updates

Same same. All siao. Wahahaha!!!

didisiaosiao      ( Date: 17-Jan-2013 18:16) Posted: Siao lang gong lost his mind due to follies in yoma ....n ezion.......hahhaahaa ynnek1267      ( Date: 17-Jan-2013 17:49) Posted: Paper trader? You are the one lah, everyday siaosiao one treat paper as money. Wahahaha!!!! Tomorrow, S-chip earthquake because of ChinaNtown, Wahahaha!!!!

 

Yangzijiang Shipbuilding: Proposed issuance of new warrants (Neutral,  

S$1.10,   TP:   S$0.95) 

Jason Saw (+65 6232 3871,   jason.saw@sg.oskgroup.com) 

We are Neutral on Yangzijiang’s latest move to issue 330m new warrants at 

an issue price of S$0.0605/warrant. While the proposed exercise is 

surprising as Yangzijiang has a fairly strong balance sheet (RMB10b net 

cash and financial assets as of 3Q12), in our view: (1) the exercise will have 

no immediate impact on EPS (2) although the conversion will be dilutive 

(8.6% of existing shares), minorities will not be harmed as the strike price of 

RMB7.617 (S$1.50) is a +36.4% premium to its last price. We maintain 

Neutral on Yangzijiang with an unchanged TP of S$0.95. The shipbuilding 

sector remains challenging as yards struggle with declining order book and 

thin margins. We prefer to stay away from commercial shipbuilding names. 

Issuance of 330m warrants with strike price of RMB7.617 (S$1.50). In an 

announcement this morning, Yangzijiang has proposed to issue 330m new 

warrants at an issue price of RMB0.3072 (S$0.0605) for each warrant. Key details: 

(1) Each warrant can be converted into one new share at the strike price of 

RMB7.617 (S$1.50), 36.4% premium to its last closing price. (2) The warrants will 

expire on 29 April 2016. (3) Assuming all the warrants are converted into new 

shares, this will increase its existing share base by 8.6%. 

Net proceeds of ~S$513m assuming all the warrants are converted into 

shares.   Yangzijiang will receive net proceeds of RMB92.17m   (S$18.15m) from 

the issuance of the warrants and another RMB2.514b (S$495m) if all the warrants 

are converted into new shares at the warrant strike price of S$1.50. 

Move to strengthen working capital and explore expansion opportunities. 

The company highlighted that the rationale for the exercise is to provide financial 

flexibility for market expansion and potential development opportunities. As of 

3Q12, Yangzijiang has a net cash of RMB164m (S$32.3m) comprising RMB8.73b 

cash and RMB8.57b debt. Additionally, they have RMB9.8b of held-to-maturity 

(HTM) financial assets. 

Valuation: Maintain Neutral and TP of S$0.95. Our TP is based on 8x FY13F 

shipbuilding earnings and adjust for net cash. The   stock is now trading at 7.5x 

FY13F core P/E and 1.2x FY13F P/B. We expect Yangzijiang to register FY11-

14F EPS CAGR of -20% mainly due to lower shipbuilding margins.  

DMG & Partners

 

 

Siao lang gong lost his mind due to follies in yoma ....n ezion.......hahhaahaa

ynnek1267      ( Date: 17-Jan-2013 17:49) Posted: Paper trader? You are the one lah, everyday siaosiao one treat paper as money. Wahahaha!!!! Tomorrow, S-chip earthquake because of ChinaNtown, Wahahaha!!!!! didisiaosiao      ( Date: 17-Jan-2013 17:40) Posted: Aiya this fellow tcss n paper trade only lah......already caught his follies n blunder in yoma n ezion..........what do u expect from a goon who cant even identify simple trend n price actiond.....? :

 

 

Paper trader? You are the one lah, everyday siaosiao one treat paper as money. Wahahaha!!!!

Tomorrow, S-chip earthquake because of ChinaNtown, Wahahaha!!!!!

didisiaosiao      ( Date: 17-Jan-2013 17:40) Posted: Aiya this fellow tcss n paper trade only lah......already caught his follies n blunder in yoma n ezion..........what do u expect from a goon who cant even identify simple trend n price actiond.....? :) springpig      ( Date: 17-Jan-2013 17:33) Posted: so you follow what BB is doing? what if tomorrow BB push it up and shortists are covering? will you contra?

 

Aiya this fellow tcss n paper trade only lah......already caught his follies n blunder in yoma n ezion..........what do u expect from a goon who cant even identify simple trend n price actiond.....? :)

springpig      ( Date: 17-Jan-2013 17:33) Posted: so you follow what BB is doing? what if tomorrow BB push it up and shortists are covering? will you contra?  ynnek1267      ( Date: 17-Jan-2013 17:23) Posted: Wahahah!!!! ok ok, you are  not die hard supporter but frog in hot pot. Wait lah, so rush for what, let BB standby first, once break 1 dollar, I join to short. Wahahaha!!!

 

I doubt if YJZ still listed in SGX after 6 years. It will just step to S-chip path, step 1 -suspended, step 2 - re-trade after months, become penny stock, Step 3- Delist with cheap cheap price.

Whoever hold 1 dollars will be bought back below 20cents before delist. Wahahaha!!!!

S-chip history, keep on repeating. Wahahaha!!!!!!!!

Hulumas      ( Date: 17-Jan-2013 17:20) Posted: Any price < or = to Sgd. 1.00 is worth buying for six years holding! ynnek1267      ( Date: 17-Jan-2013 15:51) Posted: Squeeze? Do you YZJ is very big meh, may be the one gonna squeezed to death loh. Wahaha!!! Check online  lah, you know how late YZJ step into the only survival segment in current market, offshore market. 2 weeks ago, 1 pc 170mil Jackup rig. Wahahaha!!! Go to check Cosco, since when they step into offshore? now they can build tender rig, jack up rig, offshore support vessel, multi purpose vessel, pipe lay cable lay vessel, FPSO, own exclusively SEVAN rig design. Let see who is the gonna squeezed to death. Wahaha... YZJ though they raised money through warrant can hide they are lacking of money. More to come!!!

 

so you follow what BB is doing?

what if tomorrow BB push it up and shortists are covering? will you contra? 

ynnek1267      ( Date: 17-Jan-2013 17:23) Posted: Wahahah!!!! ok ok, you are  not die hard supporter but frog in hot pot. Wait lah, so rush for what, let BB standby first, once break 1 dollar, I join to short. Wahahaha!!!! springpig      ( Date: 17-Jan-2013 17:18) Posted: You're totally wrong here.. I'm not a die hard supporter cos I have just bought the shares a few weeks ago, and I'm still making money here.. I believe next week it can close the gap to go up to $1.08 and depending on the price action, I may take some profit. That's why if price can go down to 70cents, good! I can buy some more and get some more profit later on.. The question is:   if you believe strongly the price will go down to 70cents, are you doing the big shorting right now?? if you're not, why not?? go and short it so I may have the chance to buy it later. Just to mention, sometimes the best time to buy is when everybody is saying the company has no prospect, everything is gloomy, and the share price is beaten down to unreasonable level.  For example, singapore property market... Sg gov did some cooling measures earlier and market whacked down property developer stocks like no tomorrow. What happened a few months later?? property sales are still hot and property price is still shooting up...   and then market buy back property shares like no tomorrow. Market may not always right in pricing in the news. Don't let your sound judgement be affected by stock price or some people in the market. May all of you got extra pocket money for CNY!!!

 

Wahahah!!!! ok ok, you are  not die hard supporter but frog in hot pot.

Wait lah, so rush for what, let BB standby first, once break 1 dollar, I join to short. Wahahaha!!!!

springpig      ( Date: 17-Jan-2013 17:18) Posted: You're totally wrong here.. I'm not a die hard supporter cos I have just bought the shares a few weeks ago, and I'm still making money here.. I believe next week it can close the gap to go up to $1.08 and depending on the price action, I may take some profit. That's why if price can go down to 70cents, good! I can buy some more and get some more profit later on.. The question is:   if you believe strongly the price will go down to 70cents, are you doing the big shorting right now?? if you're not, why not?? go and short it so I may have the chance to buy it later. Just to mention, sometimes the best time to buy is when everybody is saying the company has no prospect, everything is gloomy, and the share price is beaten down to unreasonable level.  For example, singapore property market... Sg gov did some cooling measures earlier and market whacked down property developer stocks like no tomorrow. What happened a few months later?? property sales are still hot and property price is still shooting up...   and then market buy back property shares like no tomorrow. Market may not always right in pricing in the news. Don't let your sound judgement be affected by stock price or some people in the market. May all of you got extra pocket money for CNY!!!     ynnek1267      ( Date: 17-Jan-2013 16:36) Posted: Good, one more die hard supporter, Wahaha... Sell now at above 1 dollar and buy below 70cents. The contract is dry since 2011, now is 2013, 2 years without contract, orders from 2009 to 2010, all are delivered in 2012 to 2013, revenue and profit is drying in 2013. If no order in 2013, hohohoho...... In early 2012, when cosco and YZJ price surge to 1 year high, people like now shouting better year in 2012, what worst is pass, order will start to flow in, so what happen after that, NO ORDER IN 2012. shout lah, you shout will come loh, WAHAHAHA. Except offshore vessels, the rest of the vessels chartered rate are worse than same period in 2012, How order flow in??? It is like when your Condo  rental fee is extremly low and you have to pay the installment, will you buy another one?  WAHAHAHA..

 

Any price < or = to Sgd. 1.00 is worth buying for six years holding!

ynnek1267      ( Date: 17-Jan-2013 15:51) Posted: Squeeze? Do you YZJ is very big meh, may be the one gonna squeezed to death loh. Wahaha!!! Check online  lah, you know how late YZJ step into the only survival segment in current market, offshore market. 2 weeks ago, 1 pc 170mil Jackup rig. Wahahaha!!! Go to check Cosco, since when they step into offshore? now they can build tender rig, jack up rig, offshore support vessel, multi purpose vessel, pipe lay cable lay vessel, FPSO, own exclusively SEVAN rig design. Let see who is the gonna squeezed to death. Wahaha... YZJ though they raised money through warrant can hide they are lacking of money. More to come!!!   springpig      ( Date: 17-Jan-2013 15:11) Posted: Actually the more shipping & shipbuilding companies shut down in china, the better it is...   why? Because after the shake-out, only the chosen few will   survive and gain market share afterwards. Most likely, the small ones will get squeezed to death, while the big ones can still survive.  After the recovery, they will grow much stronger than ever before. Btw, if you're concerned about why YZJ is issuing warrants, think again... $16m+ is peanut to YZJ. Why would they raise just a small amount if they really really need cash?  I believe they did it because they simply have nothing to lose. As for citibank... they are just like an agent selling those warrants to BB(you can think of it this way:   you go to a local bank to invest your money in some kind of fund... will the relationship manager care whether you can get some profit/not? of course not, they only care about their commission for selling the products.). They don't really care how the warrant will perform as long as they can sell it out and make money. They should have thought of some strategy to sell it even before the deal.

 

You're totally wrong here..
I'm not a die hard supporter cos I have just bought the shares a few weeks ago, and I'm still making money here..

I believe next week it can close the gap to go up to $1.08 and depending on the price action, I may take some profit.

That's why if price can go down to 70cents, good! I can buy some more and get some more profit later on..

The question is:   if you believe strongly the price will go down to 70cents, are you doing the big shorting right now?? if you're not, why not?? go and short it so I may have the chance to buy it later.

Just to mention, sometimes the best time to buy is when everybody is saying the company has no prospect, everything is gloomy, and the share price is beaten down to unreasonable level. 

For example, singapore property market... Sg gov did some cooling measures earlier and market whacked down property developer stocks like no tomorrow. What happened a few months later?? property sales are still hot and property price is still shooting up...   and then market buy back property shares like no tomorrow.

Market may not always right in pricing in the news.

Don't let your sound judgement be affected by stock price or some people in the market.

May all of you got extra pocket money for CNY!!!  

 

ynnek1267      ( Date: 17-Jan-2013 16:36) Posted: Good, one more die hard supporter, Wahaha... Sell now at above 1 dollar and buy below 70cents. The contract is dry since 2011, now is 2013, 2 years without contract, orders from 2009 to 2010, all are delivered in 2012 to 2013, revenue and profit is drying in 2013. If no order in 2013, hohohoho...... In early 2012, when cosco and YZJ price surge to 1 year high, people like now shouting better year in 2012, what worst is pass, order will start to flow in, so what happen after that, NO ORDER IN 2012. shout lah, you shout will come loh, WAHAHAHA. Except offshore vessels, the rest of the vessels chartered rate are worse than same period in 2012, How order flow in??? It is like when your Condo  rental fee is extremly low and you have to pay the installment, will you buy another one?  WAHAHAHA... springpig      ( Date: 17-Jan-2013 16:22) Posted: drop to 70 cents?? good.. can buy some more. hahahaha

 

I said already I would cover Ezion in 3 days after shorting, So I still earned a bit from  Ezion, lucky man. Wahaha!!!

Yoma, no pain lah, doesn't up doesn't down in this bull market, still holding short position, cut loss if break 75cents(lose a lot already)

I earned a lot from Ausgroup longing Wahahaha!!!!!

YZJ, will short once break 1 dollars.

Very fishy to YZJ, claim so many cash in bank still raise warrant. It is like Gaoxian, so many money in bank still go for dual list. All are S-chip Wahahaha!!!!

didisiaosiao      ( Date: 17-Jan-2013 17:12) Posted: How is ur short for yoma at 65c n ezion at 1.56???? Obviously ur judgement is screwed.........ur pants already dropped for the above n my advise for u for yzj is do NOT short.... else the CNY will b a pitiful one for u..... .not vested. ynnek1267      ( Date: 17-Jan-2013 17:04) Posted: Smart guy, stay away. Can see a lot of frogs staying in the hot pot. Wahahaha!!!!

 

How is ur short for yoma at 65c n ezion at 1.56???? Obviously ur judgement is screwed.........ur pants already dropped for the above n my advise for u for yzj is do NOT short.... else the CNY will b a pitiful one for u..... .not vested.

ynnek1267      ( Date: 17-Jan-2013 17:04) Posted: Smart guy, stay away. Can see a lot of frogs staying in the hot pot. Wahahaha!!!!! alooloo      ( Date: 17-Jan-2013 17:01) Posted: you could be right... but raising fund through warrant vs dividend payout upon next earning announcement doesn't come well together... anyway, this stock is over for me... unless they announce dividend again... good luck...

 

Smart guy, stay away.

Can see a lot of frogs staying in the hot pot. Wahahaha!!!!!

alooloo      ( Date: 17-Jan-2013 17:01) Posted: you could be right... but raising fund through warrant vs dividend payout upon next earning announcement doesn't come well together... anyway, this stock is over for me... unless they announce dividend again... good luck... oldflyingfox      ( Date: 17-Jan-2013 16:57) Posted: In the martket, there is always buyers & sellers, each has their own reasons. Since you think it is going to hit $0.7, please go ahead and short it. The fact is that the dividend has been increasing each year  since 2008, you may check it in sgx website. For me, I believe that the bottom has already hit last year,  the share price  is  turning around this year, same go to NOL & Cosco.

 

UOB is the shortist. Wahahaha!!!

Con you to buy more. Wahahaha!!!

luvkarena      ( Date: 17-Jan-2013 17:00) Posted: YZJ - target price by UOB Kay Hian - $1.43. Peter_Pan      ( Date: 17-Jan-2013 15:59) Posted: Yangzijiang Shipbuilding - CIMB keeps its Underperform rating in view of the earnings slump expected for the next two years (UNDERPERFORM - Tgt. S$0.75 Offshore & Marine) - CIMB

 

you could be right...

but raising fund through warrant vs dividend payout upon next earning announcement doesn't come well together...

anyway, this stock is over for me... unless they announce dividend again... good luck...

oldflyingfox      ( Date: 17-Jan-2013 16:57) Posted: In the martket, there is always buyers & sellers, each has their own reasons. Since you think it is going to hit $0.7, please go ahead and short it. The fact is that the dividend has been increasing each year  since 2008, you may check it in sgx website. For me, I believe that the bottom has already hit last year,  the share price  is  turning around this year, same go to NOL & Cosco.

 

YZJ - target price by UOB Kay Hian - $1.43.

Peter_Pan      ( Date: 17-Jan-2013 15:59) Posted: Yangzijiang Shipbuilding - CIMB keeps its Underperform rating in view of the earnings slump expected for the next two years (UNDERPERFORM - Tgt. S$0.75 Offshore & Marine) - CIMB

 

Wahaha, another die hard supporter.

Because dividend keep on increasing. If pay less dividend or not paying in coming quarter, what will happen? Wahahaha!!!!!

 

oldflyingfox      ( Date: 17-Jan-2013 16:57) Posted: In the martket, there is always buyers & sellers, each has their own reasons. Since you think it is going to hit $0.7, please go ahead and short it. The fact is that the dividend has been increasing each year  since 2008, you may check it in sgx website. For me, I believe that the bottom has already hit last year,  the share price  is  turning around this year, same go to NOL & Cosco.

 

In the martket, there is always buyers & sellers, each has their own reasons. Since you think it is going to hit $0.7, please go ahead and short it.

The fact is that the dividend has been increasing each year  since 2008, you may check it in sgx website.

For me, I believe that the bottom has already hit last year,  the share price  is  turning around this year, same go to NOL & Cosco.