Market is down again today, even though US market has surged 200 points. This is mainly due to persistent margin call and short player in action. Nevertheless, for those long term holder with cash, this present a golden opportunity to pick up some good stock with bargain price.
MIDAS announced a +50% increment of half year profit and winning a new contract from european company. A strong evidence that all the rumour is unfound. When the sentiment turns, it could resume back the uptrend.
China Hongxing had a +110% of first half net profit. A stunning result. They planned to open 600 stores per year for 2007 and 2008 which would drive the earning growth further. The profit margin also expanded. Expect more stellar result in future.
Hongguo profit increased by 21%. Gross Profit Margin expanded from 38% to 40%. Another good half year result similar to the past. It is a slow and steady growth company. Imagine women has to change how many pairs of shoe a year and their multi brand/more store strategy, we should continue to see good growth ahead.
Tuesday, 7 August 2007
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