Man beachte den letzten Ansatz!!!!!!!!
Cheung Wah Development Company [ 648 ] History
Cheung Wah Development Company was founded in 1930 by the Yu family to distribute dyestuffs in China. In 1946, it expanded its business to HK as Cheung Wah Ho. In the 1960s, it began to distribute for Bayer AG of Germany and Cassella Farbwerke Mainkur, a division of Hoechst AG in Germany. In 1976, the company expanded into textile business for the manufacture of household fabric, knitted sports and casual wear. It established retail outlets and a showroom for this business. In 1994, it diversified into property and clubhouse business, but it is reporting loss. In 1996, the company relocated all its production to China and established a 50% owned joint venture company for the distribution of dyestuffs. The market cap as of Dec 1998 was $46 million with 588 million shares issued. The current Chairman is Yu Kam Kee, Lawrence.
Current
Interim results from Cheung Wah Development was disappointing. Turnover fell 13% to $81 million for the first six months ended September 1999 from $93 million for the same period last year. Operating loss rose 1730% to $11 million with net profit of $10 million (LPS of 1.75 cents). The company is still suffering from its chronicle loss since 1996. Turnover fell at an average of 15% for the past five years. It has a current ratio of 1.1x. The company placed 117 million new shares to raise $14 million for better cash flow.
Future
The future for the company is somewhat hazy. The Chairman of the company is more interested in soccer than its business, because it has been losing money the fourth year. Although the company is not in any serious financial situation, if it continues to loose money it will soon dry out the reservoir.
Aber mal im Ernst. Cheung Wah (0648 bei Qamnet) wurde heute morgen doch auf n-tv als neu Softbank für China bezeichnet. Wer hat darüber Infos?
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