What a disastrous 2H they had!
How can business dive so sharply? This must be a highly competitive industry  -- too many players and too low barriers to entry. And on the demand side, are they also affected by Europe recession?

The cash pile is the bright side to this counter. 20 SG cents of cash as they have hardly any bank borrowing. Stock price is 4.5 cents, how can???  The whole thing doesn't make sense.  Neither does the absence of dividends. Just 1 cent alone won't make a dent on their cashpile but it will boost investor confidence and the stock price/.   Hello, Fibretech, who are you really?

Thumbs down!

Profit warning :

The unaudited financial results of the Group for the 4Q2011 is expected to report materially lower
revenue and a loss before taxation as compared to 4Q2010. The lower revenue was due mainly to
the decrease in demand for our fabric processing services by our customers. This slowdown in
demand started in May 2011 (as per our commentary in note 10 in our Second Quarter and Half Year Financial Statements and Dividend Announcement for the period ended 30 June 2011) and further deepened during 3Q2011/4Q2011 as compared to previous quarters.

There was also an increase in provision for staff related costs. The higher staff related costs relates to additional provision for housing fund and social security contributions required by the national labour laws and regulations.

In addition, the Group also provided an impairment expense of RMB8.9 million for past construction in- progress.

What James is true and what Azza said also is true. Such is life -- all of us can be right.
Whether China Fibretech can be a profitable investment is yet to be seen. But now, it looks like it's attracting attention with a rising volume and a stock price of 5 cents. The upcoming full year result can either propel it higher or kill the stock.

If the cash is real, they should just privatise. Now 0nly 4.5 cents.

I sold most of my holdings at a loss. Sometime after they announce Q1 results. The stock has fallen by a further 30% since then. The very small quantity I still have is actually because I promise to absorb the loss for my wife and take over her holdings since it's under my advice that she bought it.

Reasons- First and foremost, I am very uncomfortable with their personnel movement, an independent director choose not to be restated during the AGM, and that director is in the audit committee. Then they appoint their grandson who is only 23 years old to be vice president of an subsidiary. Despite all these, I was still willing to hold on, as I believe they might get a replacement for the independent director soon. But instead of sourcing for 1, they internally promoted or rather assigned someone the job. That's when I gave up and sold everything under m acc.

When the price get bash down to 5 plus cents, I have thoughts of averaging down, as the textile sector and the dyeing sector are both still expanding. But I decide to hold out for their Q2 results. The results was disappointing. There is a QoQ fall in profits. It might not seems a big deal but it does point to it level of competitiveness. The 2 dyeing companies Fuxing bought are able to increase profits when fibreT has reduced profits. And do noted that q1 is supposed t be the weakest quarter. However, fibreT is one of the company that has the highest cash per shares that is above it shares price and the operating cash flow is positive every quarter. If Q3 results is good, I might consider av. Down, if not, then again, I take losses. Not a call to sell, u make your own call. GIven the management pessimestic outlook, I am not too hopeful. But i think as long as the company dun start making losses, the price should be well supported.

Interest has dried up. Stock as attractive as before? 4.8 cents.

Once the insiders or company buys up enough shares from the market .

Future buyers will have to pay higher price if company decides to go private .

Imagine the market cap of China Fibretech now is only about 1/4 of it's cash balance .

Volume is quite high, it appears that someone is opportunistic --- sitting there and collecting at this cheap price.

accumulation detected today .........

The major shareholders should just privatise this company. Can offer 12 cents????

Cheongwee, what is your take on the 1H results?

They did say that in late 2Q, there was a slowdown in business. Wahpiang, will 3Q be in trouble?

H1 REVENUES SURGED 160%

NET PROFIT OF RMB 22.28 MILLION . UP 16 FOLDS Year on Year

CASH BALANCE UP 20.4% FROM RMB 353 MILLION TO RMB 425 MILLION

P/E : 2 .

NTA : 21.9c

Share price 5.5c .

http://info.sgx.com/webcoranncatth.nsf/VwAttachments/Att_639856774CB74833482578E800188467/$file/CF_1H2011_Results_Annt.pdf?openelement