Qiao Xing...erstes Kursziel 5616$ - 500 Beiträge pro Seite (Seite 6)

[dosto]

Wo und welche Schlitzaugen


ah so,

ich texte hier von Nanjing aus, und halte dort noch 3 Monate die Stellung.

[Global_Strategy]

Antwort auf Beitrag Nr.: 24.548.800 von dosto am 10.10.06 23:27:38

es gibt eine Menge Volk, die das Ding geil finden, sie machen einen Kult, genauso wie damals bei Motorola und dann Nokia.
außerdem ist es ein einheimisches Produkt und die sind Stolz drauf.

wenn die Xing-Geräte sich besonders gut und profitabel verkaufen, dann wäre das fundamental äußerst positiv.

Es haben in China jedoch gerade die einheimischen Hersteller in letzter Zeit gegenüber den Ausländern Marktanteile verloren.
Zudem ist der Wettbewerb unter den einheimischen Herstellern brutal.

Für XING ist das Nasdaq-Listing diesbezüglich ein riesen Wettbewerbsvorteils zur günstigeren Finanzierung, auch um im einheimischen Verdrängungswettbewerb bestehen zu können.

Vor längerer Zeit hatte ich zu XING mehrfach Kapitalbedarf prognostiziert; wobei diese Einschätzung dann von den erfolgten Kapitalmassnahmen von XING (u.a. private Placements, Convertible note issue) auch genau bestätigt wurde.

Inwieweit XING nach diesen erfolgten Kapitalmassnahmen auch weiterhin Kapitalbedarf hat oder jetzt ausreichend finanziert ist, ist ohne aktuelles Zahlenmaterial schwer zu bewerten; auch über die Cash-Flow Situation kann man nur spekulieren.

[Realnetworker]

Antwort auf Beitrag Nr.: 24.548.917 von dosto am 10.10.06 23:40:30

Am liebsten würde ich auch in Faulheit verfallen, und die kultivieren

wenn man deine Aufwendungen hier im Board so verfolgt kommst du deinem o.g. Spruch ja schon sehr nahe.
Aber es gibt auch Leute, die müssen für ihr Geld arbeiten, und dies manchmal 10-12 Std am Tag.
Die Mehrwertsteuererhöhung tut ihr übriges, da wird nochmal viel investiert in 06, da muß man um jeden Auftrag kämpfen.
Da hat man nicht unbedingt Lust sich abends für nix noch die Finger wund zu schreiben, immerhin steigt die Aktie ja, Du bist auch investiert natürlich (ich übrigends nicht), alles wunderbar

apropos, der Thread heißt Qiao Xing...erstes Kursziel 5616$
und nichts mit fundamentaler Nachlese, da sollten alle möglichen Postings legitim sind, Freunde der Sonne

[Global_Strategy]

Antwort auf Beitrag Nr.: 24.548.733 von dosto am 10.10.06 23:21:39

@Dosto !!!

Aus China gibt es jetzt ganz aktuell einen Bericht zu Cash-Flow Problemen von CECT.

http://translate.google.com/translate?u=http%3A%2F%2Ftech.si…
http://tech.sina.com.cn/t/2006-10-14/00481183971.shtml



PS: Ich hab absolut keine Ahnung, was genau Sache ist und wie erfolgreich CECT in China ist. (wie sollte ich auch?).

Widersprüchlich war bislang für mich jedoch das bisherige Verhalten von XING; es fällt gewissermassen in meine Rubrik "Plausibilitätsfragen"

Wu war bislang klar erkennbar an steigenden Kursen interessiert (-> z.B. Stil der XING Pr-Meldungen). Deshalb würde ich unterstellen, dass er gute News, sofern es diese gibt, nicht bewusst verheimlicht

Meine seit langem geäusserte These: Wenn die Gewinnqualität (also gerade auch operativer Cash Flow) wirklich hervorragend wäre, dann hätte es angesichts der erfolgten Finanzierungsmassnahmen Sinn gemacht, dies den Anlegern durch zügige Offenlegung vollständiger Zahlen auch zu zeigen. Um sich günstiger, also zu höherem Kurs und mit weniger Dilution, finanzieren zu können.

Zumal im "so super gelaufenen Q2" noch eine grösse Finanzierungsmassnahme (Convertibles) zu vergleichswiese niedrigem Kurs erfolgte, und diese auch nicht von einer Related Party gezeichnet wurde (sondern einem Conv.Arb-Hedge Fund).

[lion67]

Antwort auf Beitrag Nr.: 24.613.047 von Global_Strategy am 14.10.06 00:22:31

Im yahoo-board hat kevinstudio (der m.E. viel Ahnung vom chinesischen Markt hat), den Artikel zerrissen. Hier der durch einen anderen User etwas gekürzte Beitrag:

The article was outright false. That is why it was pulled from the site. Does not even deserve a response from company management. If management of most successful companies responded to all the negative articles in the media, that is all they would do. Every successful enterprise will have its detractors. You may find intelligent responses from other board members, though. Following are excerpts of response from "kevinstudio" (could not fit all in the 4000 word limit here):

... let me tell you what is wrong with this article:

1. Basically our magical Jun reporter's whole "crisis guess on CECT" starts and is based on, in his own words, "rumors that CECT has cash problem and if it cannot go publich quickly it will have cash problem". Well, I don't know why I need to listen to a columnist's words if he himself am not sure whether what he says is true...

The fact is, as we saw in the earning report, Xing not only had net "operating" cash flow, but it had fat cash and working capital now! …
… there is no "rush" on the management side to make CECT go IPO. I've said before that don't put your investment on Xing because of the IPO rumor, and the management said the same thing in its prior news release too. ...

2. Magical Jun says that CECT urgently needs cash because it owes its wholesaler lots of money, and those wholesaler in tern owes retailers lots of money. Huh? ... And, ever heard the famous "cash only" tradition among Chinese companies? ... The truth is, the number of stores, both brick-and-mortar and online, that sell CECT phones continue to increase fast this year!!
…

3. Based on the previous point, Jun boy says that these collectible amount from CECT increased retailers cost, forcing them to raised their CECT phone price and as a result stalled the speed of CECT's sales the whole year. Really? Then how come the comprehensive market research done by independent and reputed marketing firms have competitively affirmed a huge increase in CECT's market share and popularity this year? ... This is one example of the surveys:

http://tech.sina.com.cn/t/2006-09-22/120...


4. Last but not least, our magic Jun claims that the CECT's problem with retailers is serious and rampant, but why no any other reporters, none, zip, knows it? Not only that, but no institutional buyers, … and all of them have been "rush" in buying more shares, not selling, in the past two months? How come Xing just went off the naked short list? ...

...
Let me give you some more clue ..., the original ariticle was published at 00:29am on 10/14 (Saturday) in China, a time when almost no news, espeically business news, is released. Wow! a caring reporter worked the day lights out of midnight on Saturday to give investors a warning huh? This is a problem, if true, has been there for a long time, not just happended two days ago. ...
And, how come the article was deleted soon by several online portals, including SINA? Look at this one:
http://tech.sina.com.cn/t/2006-10-14/004...
...
Also, have you noticed that our bashing leader hue_suk_mi sir published the news almost immediately after it was posted in China and there was actually a werid drop several hours before hue_suk's post on Yahoo and Jun Luo's post in China? (forget tanweiXXX and some other phony ids, they are all hue_suk's phony ids. ...)

Hmm ... an insider trading pattern before a release of major news on a reporter and basher's post huh? Seems like some people knew their postings were coming and thus sold (possible short) a lot of shares in advance in an anticipating of big stock price fall after the postings. ...

[Global_Strategy]

Antwort auf Beitrag Nr.: 24.677.397 von lion67 am 17.10.06 13:48:32

Unbedingt als seriös würde ich gerade den kevinstudio aber auch nicht bezeichnen. Und ob er wirklich Ahnung vom chinesischen Markt (cellphone Hersteller) hat, das sei mal in den Raum gestellt, ausser das er wohl Chinesisch kann. Hab seine vielen Postings nicht regelmässig verfolgt, insofern nur ab und zu mal einige von ihm gelesen. Anhand dieser wirkte er auf mich eher als "smarter Pumper" (im Gegensatz zur Horde der Hooligan-Pumper bei XING).

Zum chines. Artikel wäre es auf jeden interessant, wenn man eine von Menschen durchgeführte Übersetzung hätte (anstatt diese automatischen Übersetzungen).

Aus meiner Sicht ausgehend von diesen automatisierten Übersetzungen könnte jedoch ein Kritikpunkt am Artikel sein, dass er möglicherweise zu stark vergangenheitsbezogen ist, also mehr die Vergangenheit anstatt Gegenwart beleuchtet.

Dass die Earnings Quality bei XING in der Vergangenheit nicht die beste war, ist ja auch bekannt und war wohl ganz offensichtlich einer der Gründe für die Kapitalmassnahmen. Interessanter wäre dagegen, wie's aktuell mit dem Cash Flow aussieht.


Na ja, ich verfolg's nur ein wenig als Beobachter, rein aus Interesse, wie die Story weitergeht, auch weil Dosto sich ja engagiert hatte. Mit XING zocken tue ich selber nicht, zumal dieser chines. Handyhersteller-Sektor auch nicht unbedingt das ist, in was ich gerne investieren möchte (ebenso nicht Unterhaltungselektronik etc.). Meine Meinung bleibt aber, dass diese Aktie weiterhin für Kursbewegungen gut ist.

[lion67]

http://biz.yahoo.com/prnews/061031/cntu022.html?.v=2

Dort steht:

Press Release Source: Qiao Xing Universal Telephone, Inc.


Qiao Xing Universal Telephone Announces Key Operating Data for the Second Quarter 2006; Planned Acquisition of Remaining 20% Equity Interest of Qiao Xing Mobile Communication, and Positive Sales Momentum for the Week-long National Day Holidays in China
Tuesday October 31, 8:30 am ET

HUIZHOU, Guangdong, China, Oct. 31 /Xinhua-PRNewswire/--Qiao Xing Universal Telephone, Inc. (Nasdaq: XING - News) today Announces Key Operating Data for the Second Quarter 2006, Planned Acquisition of Remaining 20% Equity Interest of Qiao Xing Mobile Communication, and Positive Sales Momentum for the Week-long National Day Holidays in China.

Operating Data

Qiao Xing Universal Telephone's sales and operating income increased 15.6% and 518% respectively in the second quarter versus the first quarter of 2006. The significant increase in operating income is primarily due to the lack of stock based compensation in the second quarter. Stripping out stock option grants, operating income increased 38% primarily on improved gross profit margins.


1Q 2Q
All figures in millions of US dollars 2006 2006
Net sales 84.1 97.3
Cost of goods sold 70.8 78.8
Gross profit 13.3 18.5
Operating expenses other than share-based
compensation -3.9 -5.5
Share-based compensation -7.3 --

Income from operations 2.1 13.0

Acquisition

In addition to the increase in operating performance, Qiao Xing Universal Telephone herein announces an acquisition from the minority shareholder the remaining 20% equity interest of Qiao Xing Mobile Communication, or QXMC, a British Virgin Islands company that holds a 93.4% interest in the Sino-foreign joint venture CEC Telecom, or CECT, for $43mn USD, to be paid partly in cash and partly in shares of Qiao Xing Universal Telephone. The valuation of QXMC was based on the implied valuations from the convertible debenture that was completed in June of this year. The acquisition is expected to be finalized no later than the end of December 2006, and the closing remains subject to customary closing conditions. Qiao Xing Universal Telephone arrived at the decision to make this acquisition based on the historical operating performance of CECT, and also the strategic consideration of converting QXMC into a 100% subsidiary to streamline the ownership structure of CECT.

Positive Momentum

Qiao Xing Universal Telephone would like to respond to reports circulated in the Chinese press surrounding performance leading up to the October 1 Chinese National Day by confirming that, up to October 1, CECT has received orders from distributors for about USD85mn for its recently-launched ''A1000'' and ''IP1000'' series of mobile phones.

According to a recent Sino Report, CECT's market share is tenth among all mobile phone brands and fourth among local brands in China. Despite relatively higher selling prices than most local brands, Qiao Xing Universal Telephone believes that this upward momentum of market share ranking is driven in part by the flexibility to offer differentiated products.

Other Updates

A financing solution reached with DKR Management via an issuance of $24mn USD in stock and 26mn USD in a convertible provided Funds for the acquisition of the 20% minority interest in QXMC. Terms were finalized on September 18th, and consist of 2 million shares placed at $12 and a CB with a conversion price of $14.30.

In accordance with Nasdaq listing rules, a consolidated income statement for the first half of 2006 and an interim balance sheet shall be filed by December 31, 2006.

Forward-looking statements

This press release may contain forward-looking statements as defined by the Private Securities Litigation Reform Act of 1995. These statements present management's expectations, beliefs, plans and objectives regarding future financial performance, and assumptions or judgments concerning such performance. Any discussions contained in this press release, except to the extent that they contain historical facts, are forward-looking and accordingly involve estimates, assumptions, judgments and uncertainties. There are a number of factors that could cause actual results or outcomes to differ materially from those addressed in the forward-looking statements. Such factors are detailed in the Company's Annual Report on Form 20-F for the fiscal year ended December 31, 2005 and subsequent reports filed with the Securities and Exchange Commission.

About Qiao Xing Universal Telephone, Inc.

Qiao Xing Universal Telephone, Inc. is one of China's largest manufacturers and distributors of telecommunications products. The Company has grown its net sales from approximately $46.4 million in 1997 to $356 million in 2005. The Company's product portfolio includes telecommunications terminals and related products, including fixed wireless phones, VoIP telephones, advanced mobile phones, PDAs and consumer electronic products, including MP3 players, cash registers and set-top-box products. This includes the world's first model of dual mode and dual call waiting GSM/CDMA smartphone, the 'CECT CoolPAD 728', and a model of multi-media PDA phone that enjoys 1000 hours stand by time, the 'A100'. The Company has established co-operative relationships with leading telecom and software companies for their China strategy, including Microsoft and Palm, aiding success for its 'High End Mobile Phone Strategy'. XING has launched more than 120 models of mobile phones and has established more than 250 wholesales outlets and more than 350 after sales service centres in 31 provinces and municipalities. In indoor business area, XING currently distributes over 300 models of corded and cordless telephones and is one of China's largest distributors of indoor phones. For its indoor phone segment, the Company has built a strong distribution network comprised of more than 5,000 retail stores throughout China and has established partnerships with major retailers in Europe, North America and Latin America, including Bellsouth and Wal-mart. For more details, please visit http://www.cosun-xing.com .

For more information, please contact:

Rick Xiao,
IR Director
Qiao Xing Universal Telephone, Inc.
Tel: [phone]
Email: [e-mail]


Source: Qiao Xing Universal Telephone, Inc.

[lion67]

Antwort auf Beitrag Nr.: 25.046.656 von lion67 am 31.10.06 20:13:31

Bei dem Artikel hat es eine Tabelle ein wenig verschoben. Z.B. steht da: Net sales 84.1 97.3.

Die erste Zahl steht für das 1. Quartal und und die zweite für das 2. Quartal. Die Net sales haben sich also von 84.1 im 1. Quartal auf 97,3 im 2. Quartal erhöht.

Einen schönen Abend noch,
lion67

[dosto]

yep,

völlig richtig,

diese Firma war schon immer in ihrem Zahlenmaß sehr misteriös,
ich hab auch bis heute noch keinen Glauben an sie.

Fakt ist aber, daß hier (also in China) zum Zug kommen,
Fakt ist, das Produkt geht hurtig über den Ladentisch.
Was im Endeffekt an cash flow übrig bleibt gilts abzuwarten.
Es sieht paradoxerweise so komisch aus, daß Xing erst mal selbst überrascht ist über seinen Erfolg und sie gerade das wohlk wohl stutzig macht, also ein anderes Phänomen, unter dem lustigen Motto,
ein Angeber wird tatsächlich von seinem Erfolg überrascht, den er
so gerne wollte und der ihn jetzt ein-oder überholt.
Die großen Töne werden wohl in einiger Zeit folgen, aber all das
interessiert mich nicht, Life-style Produkte haben ein kürzeres Leben als ihre Propaganda, Sollte die Propaganda von XING ins Laufen kommen ist schon Vorsicht angesagt.
Es ist nichts Außergewöhnliches, ich bezeichne das nur als
-special situation- das haben wir auf Erden immer wieder.
Einen großen Aufstand darüber zu machen ist überflüssig, wie alles
ein temporäres Phenomän das in einem halben Jahr vielleicht bereits als abgeschlossen gilt.
Danach ist es interessant was an Geld bei QIAO verblieben ist,
im Moment ist es kein cash flow -Investment, und wenn sie cash flow
melden, ist das noch lange kein Punkt um ein großes Hallo darüber
zu machen, trotzdem, ich bleibe dran, mehr aus
Jagdinstinkt, ansonsten nicht als überzeugter XINGer.
Ich versuchs mit einem deal, versprechen braucht man mir nichts..
Es läuft unter: nehmen wir auch gerne noch mit, wenns geht keinfrei,
ohne Ballast und nicht als Dauerthema.

[dosto]

Zum chines. Artikel wäre es auf jeden interessant, wenn man eine von Menschen durchgeführte Übersetzung hätte (anstatt diese automatischen Übersetzungen).

yep,

und übersetzt ist nicht gedacht,(sogar menschliches übersetzen hat seine Tücken) und in welcher Form gedacht, oder in welchem System.
Sehr, sehr interessant, a priori viel interessanter als das Ding an sich, um mit dem a posterpriori überhaupt zurecht zu kommen

[boerseaugsburg]

[lion67]

Qiao Xing Universal Telephone, Inc. Reviews the Financial Performance of its Operations for the Three Months Ended September 30, 2006
Monday November 27, 8:00 am ET

HUIZHOU, Guangdong, China, Nov. 27 /Xinhua-PRNewswire/ -- Qiao Xing Universal Telephone, Inc. (Nasdaq: XING - News) today provides a preliminary review of the financial performance of its operations, for the three months ended September 30, 2006 ahead of the release of more detailed financial information including earnings per share.

The total sales revenue for the three months ended September 30 is estimated to reach RMB 841.9 million (USD 106.5 million).

Sales revenue from the Mobile phone segment is estimated to reach RMB 768.3Million (USD97.3 million), driven primarily by the popularity of the ''CECT'' branded 'A1000' and 'IP1000' Models. These mobile phones with ultra- long standby batteries provide about 1,000 hours of standby time and are not available in any of our competitors' products. 'COSUN' branded mobile handsets introduced in the second half of 2004, also benefited from the increasing brand recognition and the expanding distribution network.

Sales revenue for the indoor, or land-line phones is estimated to reach RMB 73.6 (USD 9.3 million) for the three months ended September 30, 2006. With the standard of living in China on the rise, households are disposed to replace old land-line phone sets with new ones with value-added functions.

Gross profit of the XING Group is estimated to reach RMB 195.4 (USD 24.7 million) for the third quarter of 2006, driven primarily by ''CECT'' branded mobile phone sales.

The operating expenses of the XING Group are expected to be RMB 26.2 million (USD 3.3 million) in the third quarter of 2006.

Income from operations of the XING Group is expected to reach RMB 169.1 million (USD 21.4 million) for the three months ended September 30, 2006.

Mr. Wu Rui Lin, Chairman of XING, said, ''Great progress in income from operations has been made in the third quarter of 2006. This would contribute towards the attainment of satisfying whole-year financial results."

Forward-looking statements

This press release contains forward-looking statements as defined by the Private Securities Litigation Reform Act of 1995 including those as to the anticipated operating results for the third quarter of 2006. These statements present management's expectations, beliefs, plans and objectives regarding future financial performance and are subject to change. Any discussions contained in this press release, except to the extent that they contain historical facts, are forward-looking and accordingly involve estimates, assumptions, judgments and uncertainties. There are a number of factors that could cause actual results or outcomes to differ materially from those addressed in the forward-looking statements. Such factors are detailed in the Company's Annual Report on Form 20-F for the fiscal year ended December 31, 2005 and subsequent reports filed with the Securities and Exchange Commission.

About Qiao Xing Universal Telephone, Inc.

Qiao Xing Universal Telephone, Inc. is one of China's largest manufacturers and distributors of telecommunications products. The Company conducts is operations primarily through two subsidiaries: CEC Telecom Co., Ltd. (''CECT''), its primary subsidiary, and Huizhou Qiao Xing Communication Industry, Limited (''HZQXCI''). CECT sells ''CECT'' branded cell phones and HZQXCI sell indoor phones and ''Cosun'' branded mobile phones. The Company's product portfolio includes telecommunications terminals and related products, including fixed wireless phones, VoIP telephones, advanced mobile phones, PDAs and consumer electronic products, including MP3 players, cash registers and set-top-box products. This includes the world's first model of dual mode and dual call waiting GSM/CDMA smartphone, the 'CECT CoolPAD 728', and a model of multi-media PDA phone that enjoys 1000 hours stand by time, the 'A100'. The Company has established co-operative relationships with leading telecom and software companies for their China strategy, including Microsoft and Palm, aiding success for its 'High End Mobile Phone Strategy'. XING has launched more than 120 models of mobile phones and has established more than 250 wholesales outlets and more than 350 after sales service centres in 31 provinces and municipalities. In indoor business area, XING currently distributes over 300 models of corded and cordless telephones and is one of China's largest distributors of indoor phones. For its indoor phone segment, the Company has built a strong distribution network comprised of more than 5,000 retail stores throughout China and has established partnerships with major retailers in Europe, North America and Latin America, including Bellsouth and Wal-mart. For more details, please visit http://www.cosun- xing.com .

For more information, please contact:

Rick Xiao
Qiao Xing Universal Telephone, Inc.
Tel: [phone]
Email: [e-mail]


Source: Qiao Xing Universal Telephone, Inc.

[ROTERBULLE]

Antwort auf Beitrag Nr.: 25.756.289 von lion67 am 27.11.06 21:38:12

was denkt ihr, ist die zeit für ein rebound gekommen ?

[boerseaugsburg]

Antwort auf Beitrag Nr.: 25.952.662 von ROTERBULLE am 05.12.06 11:20:50

December 22, 2006
Qiao Xing Surges After Earnings Report
In a filing with the Securities and Exchange Commission recently, Qiao Xing Universal Telephone Inc. (NASDAQ: XING) disclosed 4.04 million shares of common stock would be sold from time to time by a number of selling holders. Bear Stearns Management also announced it would sell a portion of its 1.1 million share stake of the company. However, shares of Qiao Xing today are shrugging off that news after the company reported third quarter revenue of $107.7 million and net income of $13.2 million, or 49 cents per share. The stock is up strongly, higher by $1.86, or 15.71%, to $13.72 on heavy volume of 2.2 million shares, or more than double its daily average volume. Though receiving strong market attention, the company has failed to attract analyst coverage except for Dutton Associates, an issuer-paid equity research firm, which currently has a "buy" rating on the stock and a $17.00 price target. Until that day comes, Qiao Xing will continue to lack prime time visibility in the investment community. At the same time, though, it will allow for the smart money to buy shares relatively cheaply as the stock trades at a very low earnings multiple compared to its industry peers.

happy trade

[andi_thewatcher]

Ein neuer Report von Dutton laesst die Aktie mal wieder stark ansteigen.

Neues Kursziel liegt bei $20.24, da die Profitabilitaet stark gesteigert wurde.

Gruss,

Andreas

p.s. bei Interesse am Report bitte melden

[boerseaugsburg]

Antwort auf Beitrag Nr.: 26.966.474 von andi_thewatcher am 16.01.07 20:57:27

Dutton Associates Announces Investment Opinion: Qiao Xing Universal Telephone Raised To Strong Buy Rating In Update Coverage By Dutton Associates
Tuesday January 16, 12:15 pm ET


EL DORADO HILLS, Calif.--(BUSINESS WIRE)--Dutton Associates updates its coverage of Qiao Xing Universal Telephone (Nasdaq: XING - News) with a Strong Buy rating and raising its price target to $20.24. The 11-page report by Dutton senior analyst Stanley Ng is available at www.jmdutton.com as well as from First Call, Bloomberg, Zacks, Reuters, Knobias, and other leading financial portals.
ADVERTISEMENT


Qiao Xing Universal Telephone is one of China's largest manufacturers and distributors of telecommunications products. Towards the end of December 2006, the Company started to release detailed quarterly financial statements, which will help improve corporate transparency and enable institutional investors to better assess the Company's attractive prospects. Even though net revenues for the first three quarters of FY2006 were lower than our expectations, we are happy to see significant improvement in gross, operating and net margins. This positive trend should extend into FY2007. In November last year, the Company completed the acquisition of the remaining 20% equity in Qiao Xing Mobile Communication Co. Ltd. and thus raised its effective interest in CECT (its mobile handsets operation) from 74.7% to 93.4%. These positive factors, along with the improvement in margins, had prompted us to significantly raise our EPS forecasts for FY2007 by 16.1% from $2.18 to $2.53. Based on our new EPS estimates for FY2006 and FY2007, we have raised our 12-month price target for the Company from $17.44 per share to $20.24 per share, at which the stock is trading at 12.9 times P/E for FY2006 and 8.0 times for FY2007. With more than 50% upside potential and improving earnings outlook for the Company, we upgrade our Buy rating to Strong Buy.

About Dutton Associates

Dutton Associates is one of the largest independent investment research firms in the U.S. Its 31 senior analysts are primarily CFAs and have expertise in many industries. Dutton Associates provides continuing analyst coverage of over 140 enrolled companies, and its research, estimates, and ratings are carried in all the major databases serving institutions and online investors.

The cost of enrollment in our one-year continuing research program is US $39,500 prepaid for 4 Research Reports, typically published quarterly, and requisite Research Notes. Dutton Associates received $33,000 from the Company for 4 Research Reports with coverage commencing on 5/18/2005. We do not accept payment of our fees in company stock. Our principals and analysts are prohibited from owning or trading in securities of covered companies. The views expressed in this research report accurately reflect the analyst's personal views about the subject securities or issuer. Neither the analyst's compensation nor the compensation received by us is in any way related to the specific ratings or views contained in this research report or note. Please read full disclosures and analyst background at www.jmdutton.com before investing.



Contact:
Dutton Associates
John M. Dutton, President, 916-941-8119

[boerseaugsburg]

heute knapp 12 % im plus

[andi_thewatcher]

[andi_thewatcher]

Nachbörslich noch weiter gestiegen auf $14.69, macht ganze +15% am heutigen Tag im US Handel.

Damit sollte es morgen in Deutschland auch dementsprechend nach oben gehen. Zum Kursziel von Dutton Associates ist noch circa 40% Kurspotenzial.

Gute Rendite fuer alle die investiert sind, aber auch gute Chancen fuer alle die noch nicht dabei sind.

[dosto]

tot, hier alle weg.


dabei bin ich noch nicht an meinem Kursziel angekommen.
Aber bald.

[boerseaugsburg]

Antwort auf Beitrag Nr.: 27.732.264 von dosto am 15.02.07 21:22:00

tot,

nein wir sind nur platt über die doch positive kursentwicklung

[boerseaugsburg]

Qiao Xing Universal Telephone: A Chinese Nokia in the Making?
By Will Frankenhoff
February 13, 2007
Shares of Qiao Xing Universal should benefit from continued strong growth in China\'s cellular subscriber base, a shift in the company\'s sales mix toward its higher margin CETC-branded mobile phones, and an extremely attractive valuation.

As readers might have noticed from some of my previous articles, I\'m quite bullish about the prospects of domestic Chinese companies that cater to the nation\'s rapidly growing middle class. In the past, I\'ve primarily written about well-known "red-chip" plays like China Life (NYSE: LFC) and China Mobile (NYSE: CHL) that address this market, but today I\'d like investors to consider the prospects of a smaller, under-the-radar play: Qiao Xing Universal Telephone (Nasdaq: XING), a leading provider of both fixed-line and wireless phones to China\'s booming telecom market.

Before proceeding any further, I want to emphasize that Qiao Xing Universal is not an investment for those with a low risk tolerance or an allergy to volatility. After all, this is an emerging market company that has a market capitalization of just over $400 million, has only recently begun issuing detailed quarterly reports, and boasts a share price that has moved 3% or more six times since the beginning of the year. Furthermore, Qiao Xing has no analyst coverage beyond Dutton Associates, an independent research firm that the company has been paying for coverage since May 2005.

How\'s that for a de facto warning label?

Despite these risk factors, I like Qiao Xing\'s prospects because of the continued growth in China\'s mobile subscriber base, a shift in the company\'s sales mix toward its higher margin "CECT" cellular phones, and the fact that shares are quite attractively valued.

Let\'s take a quick look, shall we?

As we all know, the Chinese cellular market is huge. According to the Ministry of Information Industry, there were over 461 million mobile subscribers in China at the end of 2006, up 17% since the beginning of the year, as Chinese providers like China Mobile and China Unicom (NYSE: CHU) combined to add an average of over 5 million new customers a month. While these numbers seem huge, the cellular penetration rate is still below 35%, compared with the 90%+ rate seen in Europe. As China\'s middle class continues to expand -- McKinsey & Company expects the nation\'s middle class to reach 520 million by 2025 -- the mobile penetration rate will inevitably increase, as will demand for higher-margin 2G and 3G phones.

Qiao Xing, the fourth-largest domestic manufacturer of mobile phones, addresses this booming demand through a two-pronged sales strategy of offering its "CETC" branded phones at the high-end of the market and targeting its "COSUN" branded phones at the mass-market level. The effectiveness of this strategy is illustrated by the company\'s most recent results for the third fiscal quarter ended Sept. 30, 2006. Qiao Xing reported revenue of $108 million, operating income of $21 million, and diluted earnings per share excluding one-time items of $0.43 per share.

While an apples-to-apples comparison isn\'t possible since the company didn\'t release quarterly results last year, I believe the positive nature of this trend can be extrapolated from the fact that third-quarter sales would have represented 29% of total fiscal 2005 revenue, while gross margins of 22.5% and operating margins of 19.5% in the quarter were up from of 17% and 13.7%, respectively. This trend is likely to continue, given the fact that the Chinese government is expected to issue long-awaited 3G licenses to mobile operators later this year.

While the cellular market will remain Qiao Xing\'s primary driver of growth for the foreseeable future, I\'d be remiss not to mention the fact that the company is also the largest domestic provider of fixed-lines phones in China -- a market that reached 369 million lines in September of last year and is growing at an annual rate of 6% -- as well as being involved in the manufacture of VoIP phones, PDAs, and other consumer electronic products. While these business lines contributed less than 10% of revenues in the most recent quarter, they do represent a bit of diversification, and the growth potential of VoIP phones down the line could be significant.

I don\'t know about you, but having a position in the only U.S.-listed domestic Chinese company with exposure to these markets is pretty intriguing ... especially when you consider Qiao Xing\'s valuation.

At a recent price of $17.34 per share, Qiao Xing trades at roughly 7 times fiscal 2007 estimates of $2.53 and sports a price-to-sales of around 1.1. Now, I\'ll grant you that this estimate is put out by the previously mentioned Dutton Associates, but their analyst, Stanley Ng, has been dead-on with most of his calls, and I\'m willing to give him the benefit of the doubt. With such attractive valuation metrics and anticipated earnings growth of above 28%, I\'m inclined to believe that investors willing to walk on the "wild side" should call up Qiao Xing\'s financials and take a look.

For related Foolishness:

A Chinese Internet Play With a Defensive Twist
3 Reasons to Stay Long Chinese Stocks in 2007
Fool contributor Will Frankenhoff is enjoying his time writing for the Fool more than, reading The Financial Times, rooting for the Jints, or taking a nap. He welcomes your feedback. He does not own shares in any of the companies mentioned above.

[dosto]

Antwort auf Beitrag Nr.: 27.732.617 von boerseaugsburg am 15.02.07 21:41:17

dann lebst du noch,

oder bist du raus?

[boerseaugsburg]

Antwort auf Beitrag Nr.: 27.782.559 von dosto am 17.02.07 19:17:33

ich lebe noch und bin drin

happy trade

[Diva]

Antwort auf Beitrag Nr.: 27.797.543 von boerseaugsburg am 18.02.07 15:42:22

ich bin auch noch drin ... bin jedoch seit ca. 8 Mon. wohnsitzlos im Camper unterwegs .... und aktuell gerade an der Algarve ... man goennt sich ja sonst nichts .... -->>> nur noch selten im Netz am arbeiten ...

[boerseaugsburg]

Antwort auf Beitrag Nr.: 27.822.457 von Diva am 19.02.07 12:22:04

na dann weiterhin viel spaß bei deinem campingurlaub -

ich habe leider zur zeit nur streß

[Diva]

Antwort auf Beitrag Nr.: 27.822.500 von boerseaugsburg am 19.02.07 12:25:51

Hallo BA, Hallo an alle,

bis wohin koennte XING Luft haben????

da an Gewinnmitnahmen bekanntlich noch niemand gestorben ist, stelle ich diese Frage mal in die Runde.
Gerne auch an Charties ... ich habe 2,5 k und wuerde gerne etwas abbauen ...

es dankt

Diva,

die fruehestens so ca. in einer Woche so wieder im Netz ist und sich dann erst fuer die lebhafte, dann ja bereits stattgefundene, Diskussion bedanken kann )

[Realnetworker]

bis knapp unter 21$ ist noch Luft(also ca 10%) diva, da würd ich einen Teil sichern.

Langfristig kann sich die ganze Sache noch sehr positiv weiterentwickeln

21$-15$-35$ auf Sicht von 12-18 Monaten möglich!

Happy Trade

[boerseaugsburg]

China's mobile phone users to reach 520 mln in 2007

2007-02-18 09:20:55 Xinhua English



BEIJING, Feb. 19 (Xinhua) -- The number of China's mobile phone users is expected to top 520 million in 2007, against 460 million in 2006, according to figures from the Ministry of Information Industry.


Chinese people sent nearly 430 billion short messages in 2006, a 41 percent increase over 2005. More and more people are sending short messages via mobile phones, especially greetings to friends and relatives during festivals such as Lunar New Year and Valentine's Day.


TV programs like "Super Girl" also generate a large number of short messages from audience who are willing to participate and vote.


The number of Chinese mobile phone users has kept increasing since 2006, as markets in towns and countryside are exploited and low-price phones produced.


On the Chinese mainland, over 100 million mobile phones were sold in 2006.

[boerseaugsburg]

http://datasvr.tradearca.com/arcadataserver/JArcaBook.php?Sy…

[Diva]

Antwort auf Beitrag Nr.: 27.834.052 von Realnetworker am 19.02.07 20:25:09

Hallo Real,

DANKE ...

ich wollte ja auch sichern, aber es kam dann leider nicht dazu .... warum gings denn derart nach unten?????

etwas ratlos gruesst

Diva

.... wie jetzt weiter??

[lion67]

AP
Qiao Xing to Delay Filing Annual Report
Wednesday June 20, 10:29 am ET

Qiao Xing May Need More Time to File Annual Report Due to Accounting Matters

NEW YORK (AP) -- Chinese phone maker and distributor Qiao Xing Universal Telephone Inc. said Wednesday the company will need more time to file its 2006 annual report due to "accounting matters" related to the U.S. listing of a company subsidiary.

Qiao Xing said that if it cannot file its annual report by the end of June -- due to complications related to the May spin-off of Qiao Xing Mobile Communication Co. -- it will file for a 15-day extension and complete its filing by July 15.

The delayed filing will not effect Qiao Xing Mobile's results.

Qiao Xing shares fell 57 cents, or 4.3 percent, to $12.77 in morning trading. The stock has traded between $9.60 and $19.94 over the last 52 weeks.

[Diva]

von heute ....


Qiao Xing Universal Telephone to File 2006 Annual Report on Form 20-F on July 16

HUIZHOU, Guangdong, China, July 13, 2007 /Xinhua-PRNewswire-FirstCall via COMTEX/ -- Qiao Xing Universal Telephone, Inc. (Nasdaq: XING) today announced that it has scheduled to file its 2006 Annual Report on Form 20-F on July 16.

In a prior release dated June 20, the Company undertook to file the annual report on or before July 15. Subsequently, the Company filed the Notification of Late Filing with the SEC that automatically gave the Company an option to file the annual report on or before the fifteenth calendar day following June 30, 2007. Since July 15 falls on a Sunday, the filing deadline is automatically extended to July 16.

XING management believes that it will not violate any requirement of NASDAQ by filing the 20-F on July 16.

About Qiao Xing Universal Telephone, Inc.

Qiao Xing Universal Telephone, Inc. is one of .................

[Diva]

CECT T100 Receives Highest Rating Among Five High Security Mobile Handsets Reviewed by China Electronic News

HUIZHOU, Guangdong, China, July 13, 2007 /Xinhua-PRNewswire-FirstCall via
COMTEX/ -- Qiao Xing Universal Telephone, Inc ("the Company")(Nasdaq: XING)
today announced that CEC Telecom Co., Ltd (CECT), one of China's leading
domestic manufacturers of mobile handsets, which is 96.6%-owned by the Company's
major subsidiary Qiao Xing Mobile Communication Co., Ltd ("Qiao Xing
Mobile")(NYSE: QXM), received a 5-star rating for its CECT T100 model in a
review of five high security handsets by China Electronic News, one of the most
influential consumer electronic publications in China. The CECT T100 was the
only handset to receive five stars among those reviewed in the high security
category. The model was also noted for its ultra-long standby battery and
multimedia features, such as streaming TV.

According to China Electronic News, consumers in China are becoming increasingly
concerned with protecting privacy, and as such, highly secure mobile handsets
are becoming popular in the market. Among domestic handsets that offer security
features, the CECT T100 is the only one with fingerprint recognition technology.
CECT T100 users can freely set fingerprint protection for almost all features on
the phone, including the phone book, messaging, calendar, incoming and outgoing
calls, and keypad use, so that unauthorized users cannot gain access.

Mr. Wu Zhi Yang, Chairman of Qiao Xing Mobile, commented, "We are very pleased
that our T100 model was recognized by China Electronic News. We believe this
helps demonstrate our leading capabilities in applying advanced technology to
mobile handsets. As this ranking shows, our strategy of focusing on
differentiation at every level of our business is paying off and we plan to
continue developing such new and unique products in the future."

About Qiao Xing Mobile Communication Co., Ltd.

Qiao Xing Mobile Communication Co., Ltd. is one ...............

[istanbulman]

hi an alle

habe da mal eine frage zu xing kann mich einer mal aufklären warum der kurz in den letzten monaten so abgeschmiert hat gab es da probleme mit der bilanzierung von 2006 ??
und am freitag kam jetzt die meldung das sie es am 16.7 klären wollen sprich das müßte dann der befreiungsschlag sein sehe ich das richtig ?am fr gings ja schon mächtig nach oben erst der anfang denke ich wenns geklärt wird!!!
vielen dank

[boerseaugsburg]

Antwort auf Beitrag Nr.: 30.687.880 von istanbulman am 14.07.07 18:04:04

Qiao Xing Universal Telephone, Inc. (Nasdaq: XING) today announced that it has scheduled to file its 2006 Annual Report on Form 20-F on July 16.

das war das problem - man wußte nicht wann die zahlen kommen oder ob sie überhaubt kommen -

xing ist da ein gebranntes kind und die ausicht auf einen erstmals auditierten report hat die phantasie der anleger doch wieder positiv gestimmt.

ich denke wir schaffen das schon noch eine vernünftige bewertung dieser share zu erreichen

meine einschätzung

[Plasma1210]

kann mich hier mal jemand aufklären , über die Kurssprünge von heute und den Spread zur Amibörse. Ich habe null checkung , aber hab mich heute vorsichtshalber eingedeckt. *gg*

[Wummern]

also ich weis auch nicht was heut abgeht würd mich auch auf ne antwort freuen

[lion67]

Qiao Xing Universal Telephone Inc. (NASDAQ XING)
After Hours: 10.50 3.47 (24.84%)

Shares of XING are down almost 25% in after hours trading and are currently at their lowest levels since August 2006. XING reported lower than expected earnings and revenues as well as a derivative related charge.

Quelle: http://buyonpanic.com/

[lion67]

Press Release Source: Qiao Xing Universal Telephone, Inc.


Qiao Xing Universal Telephone, Inc. Filed Form 20-F to Release its 2006 Annual Report and Restate its Financial Data for 2005, 2004 and 2003
Tuesday July 17, 6:02 am ET

HUIZHOU, China, July 17 /Xinhua-PRNewswire-FirstCall/ -- Qiao Xing Universal Telephone, Inc. (Nasdaq: XING - News) today announces that on July 16 it filed with SEC a Form 20-F to release its 2006 annual report and to restate its financial data for the years 2005, 2004 and 2003.

Highlights of 2006 Operating Performance

For fiscal year 2006, net sales increased by Rmb 586.0 million from Rmb 2,635.2 million for fiscal year 2005 to Rmb 3,221.2 million (USD 412.8 million) for fiscal year 2006, representing an increase of 22.2%. The increase in sales revenue was primarily attributable to the significant growth of the mobile phone business of our subsidiary CEC Telecom Co., Ltd, or CECT. In 2006, the sales volume and the sales revenue of CECT-branded mobile phones increased 30.7% and 38.1% respectively compared with 2005. The increase was primarily driven by the commercial launch of a number of new higher-end models, such as the A1000 and IP1000, with a unique combination of functions and features which set them apart from those of the competitors.

Gross profit for fiscal year 2006 was Rmb 569.8 million (USD 73.0 million), representing an increase of Rmb 91.4 million from Rmb 478.4 million in fiscal year 2005. Gross profit from the CECT-branded handsets and accessories increased by 40.6% from Rmb 337.7 million in 2005 to Rmb 475.0 million (USD 60.9 million) in 2006. The gross margin of CECT-branded mobile phones increased from 18.1% in 2005 to 18.7% in 2006, primarily reflecting increased sales of higher-end and differentiated products that generally have higher unit selling prices. Gross margin of COSUN-branded mobile phones decreased from 17.6 to 10.8%, owing to the adjustment of the mobile phone portfolio from full-range to lower-end, to better able to meet the demand for lower-end products in tier-3 and tier-4 markets in China. This focus shift is part of the group's integrated strategy deployed to take advantage of the wide recognition of the COSUN brand name for indoor phones among the mass consumers and the extensive distribution network covering the target markets established in the past 15 years for the COSUN-branded indoor phones. The gross margin of the Company's indoor business segment increased from 15.4 % to 17.6%. Three factors contributed to this increase: (1) an adjusted product mix with a higher proportion of higher-end and value-added products that generally have higher unit selling prices and command higher gross margins, (2) improved cost control particularly in the area of supply chain management, and (3) the fact that direct sales to telecommunication operators took a larger portion.

In 2006, we recorded Rmb 58.7 million (USD 7.5 million) of general and administrative expenses of a non-cash nature, which was classified as stock- based compensation in connection with the grant of stock options in 2006. In February 2006, pursuant to the Company's 2005 Stock Compensation Plan, 2,000,000 incentive stock options were granted to certain employees and an external consultant, all having been with the Company for a long time and having contributed much to the Company's growth and development.

In connection with the acquisition of the remaining 20% minority interest in Qiao Xing Mobile Communication Co., Ltd. (QXMC) on November 30, 2006, there was in 2006 a write-off of in-process research and development of Rmb 41.7 million (USD 5.3 million) at the date of acquisition.

If the share-based compensation expenses and the in-process research and development, which did not involve any outflow of cash, had been taken out, XING's income from operation for the fiscal year 2006 would have reached Rmb 428.1 million (USD 54.8 million). The actual income from operation for fiscal year 2006 is Rmb 327.7 million (USD 42.0 million), after duly giving effect to those non-cash expenses.

In June 2006 and in October 2006, the Company issued convertible notes of face values of USD 40 million and USD 26 million respectively, with the proceeds used to fund the expansion of CECT's mobile phone business and the purchase of the remaining 20% equity interest in QXMC from a minority shareholder. As a result of the issuances of convertible notes, the Company incurred, in addition to cash interest expenses of Rmb 7.7 million (USD 1.0 million), non-cash interest expenses of Rmb 48.2 million (USD 6.1million) relating to the amortization of discount on bond and deferred debt issuance costs and a loss on remeasurement of embedded derivatives (a non-cash item) of Rmb 134.4 million (USD 17.2 million) for 2006. (For more information, please see the Management Discussion and Analysis at the end of this press release and Note 19 of the financial statements.)

For comparison purposes, concerning similar non-cash expense items, the Company recorded stock-based compensation expenses of Rmb 0.7 million for 2005. There were no in-process R&D expenses, non-cash interest expense or loss on remeasurement of embedded derivatives for 2005. If the four items of non-cash expenses had been taken out, the income before income tax for 2006 would have been Rmb 391.6 million (USD 50.0 million). Giving effect to the four items of non-cash expenses, in accordance with generally accepted accounting principles, the Company duly recorded an income before income tax of Rmb 108.6 million (USD 13.9 million) for the fiscal year 2006.

The Consolidated Statements of Operations is appended to this press release.

The Restatement of Financial Data for 2005, 2004 and 2003

Qiao Xing Mobile Communication Co., Ltd. (QXMC), a consolidated subsidiary of the Company, has recently become a U.S. listed company through an initial public offering, or IPO. In connection with the audits of QXMC's financial statements, certain misstatements for the years 2005, 2004 and 2003 were identified that were not initially detected through the Company's internal control over financial reporting.

As a result management has decided to restate the Company's consolidated financial statements for the years ended December 31, 2005, 2004 and 2003. In the restated financial statements, net income was reduced by Rmb 3.8 million in 2005, Rmb 21.5 million in 2004, and Rmb 16.3 million in 2003.

The restatements are described at the beginning of the Form 20-F, in Item 5 Operating and Financial Review and Prospects of the Form 20-F and in Note 2 in the 2006 financial statements of XING.

In light of the restatements, the Company will need to improve certain aspects of its internal control over financial reporting, as described in Item 15 of the Form 20-F

Consolidated Statements of Operations

Note 2 0 0 4 2 0 0 5 2 0 0 6
Rmb'000 Rmb'000 Rmb'000 US$'000
(Restated) (Restated) (Note 3(v))
(Note 2) (Note 2)

Net sales 1,720,389 2,635,184 3,221,212 412,759
Cost of goods sold (1,497,177)(2,156,798) (2,651,392) (339,743)
Gross profit 223,212 478,386 569,820 73,016
Operating expenses:
Selling expenses (29,065) (24,726) (28,401) (3,639)
General and
administrative
expenses (90,554) (55,341) (126,076) (16,155)
Research and
development (18,378) (20,694) (30,747) (3,940)
In process research
and development 13(c) -- -- (41,739) (5,348)
Amortization of
acquired intangible
assets 15 (11,880) (11,880) (15,178) (1,945)
Income from
operations 73,335 365,745 327,679 41,989
Interest income 492 7,130 8,108 1,039
Exchange loss, net -- (2,659) 3,225 413
Interest expense 32 (27,060) (41,752) (100,432) (12,869)
Loss on remeasurement
of embedded
derivatives 19 -- -- (134,439) (17,227)
Gain on disposal of
subsidiary 13(a) -- 10,307 -- --
Gain on disposal of
equity investee 11,397 -- -- --
Impairment of
investment at cost -- (7,348) -- --
Other income, net 1,597 640 4,453 571
Income before
income tax 59,761 332,063 108,594 13,916
Provision for income
tax 23 (7,397) (25,486) (58,192) (7,457)
Income before
minority interests 52,364 306,577 50,402 6,459
Minority interests (51,903) (99,270) (84,473) (10,824)
Equity in earnings of
equity investees 955 -- -- --
Net income (loss)
before
extraordinary gain 1,416 207,307 (34,071) (4,365)
Extraordinary gain on
acquisition of
minority 13(a),
interests - net of (b)
nil tax -- 37,592 14,237 1,824
Net income (loss) 1,416 244,899 (19,834) (2,541)

Other comprehensive
income - Translation
adjustments 70 1,821 7,203 923

Comprehensive income
(loss) 1,486 246,720 (12,631) (1,618)

Basic earnings (loss)
per common share:
Before extraordinary Rmb Rmb Rmb US$
gain 25 0.09 11.32 (1.44) (0.19)
Extraordinary gain Rmb Rmb US$
25 -- 2.05 0.60 0.08
After extraordinary Rmb Rmb Rmb US$
gain 25 0.09 13.37 (0.84) (0.11)

Diluted earnings
(loss) per common
share:
Before extraordinary Rmb Rmb Rmb US$
gain 25 0.09 11.32 (2.03) (0.26)
Extraordinary gain Rmb Rmb US$
25 -- 2.05 0.59 0.07
After extraordinary Rmb Rmb Rmb US$
gain 25 0.09 13.37 (1.44) (0.19)

Weighted average
number of shares
outstanding
Basic 25 16,443,000 18,319,000 23,712,000 23,712,000
Diluted 25 16,560,000 18,320,000 24,016,000 24,016,000

Managements Discussion and Analysis of Financial Conditions and Results of Operations

A. OPERATING RESULTS.

Fiscal 2006 compared to Fiscal 2005
(i) Net sales
Analysis of our sales revenue by business segment for fiscal year 2006 and
2005 is as follows:


Year ended December 31
2005 (Restated) 2006
Rmb'000 % %
Mobile telephones 2,380,531 90 2,985,432 93
Indoor telephones 254,653 10 235,780 7
Total 2,635,184 100 3,221,212 100


Net sales revenue increased by Rmb 586 million from Rmb 2,635 million for fiscal year 2005 to Rmb 3,221 million (US$ 413 million) for fiscal year 2006, representing an increase of 22.2%.

In 2005, the revenue from the mobile phone business segment was Rmb 2,381 million, while it amounted to Rmb 2,985 million (US$ 382.5 million) in 2006, representing an increase of Rmb 605 million. The increase was mainly attributable to the increase in revenue from the sale of CECT-branded handsets and accessories.

Revenue from the sale of CECT-branded handsets and accessories increased by 38.1% from Rmb 1,806.1 million in 2005 to Rmb 2,494.0 million ($319.6 million) in 2006, primarily due to increases in unit sales volume and the average selling price of the CECT-branded handsets. Sales volume of CECT- branded handsets increased by 30.7% from approximately 1,730,000 units in 2005 to approximately 2,262,000 units in 2006. The increase in unit sales volume of CECT-branded handsets was primarily driven by the commercial launch of a number of new models, including the A1000 and IP1000, which generated aggregate sales volume of approximately 1,894,000 units in 2006. The average selling price of the CECT-branded handsets increased from Rmb 1,012 per unit in 2005 to Rmb 1,094 ($140) per unit in 2006, primarily reflecting the increased sales volume and percentage of total sales of higher-end and differentiated products that generally have higher unit selling prices.

Net sales of the COSUN-branded mobile phone handsets for 2006 were Rmb 491 million (US$ 62.9 million), representing a decrease of Rmb 83 million. The decrease was primarily due to (1) the reduction of the range of COSUN-branded higher-end products so as to reduce direct competition with the CECT brand, in accordance with the group-wide product positioning strategy of the Company, and (2) the fact that the license was granted by NDRC 6 months later than we expected, which had impact on our R&D and product launch plan of HZQXCI in 2006.

Net sales of indoor telephones for 2006 were Rmb 236 million (US$ 30.2 million), representing a decrease of Rmb 19 million.

As the role played by telecommunication operators in the distribution of indoor telephones becomes more important, the Company has been adjusting its mix of distribution channels to favor telecommunication operators at the expense of traditional distributors. However, it takes time to gain acceptance from telecommunication operators in new regions. Therefore, temporarily in this adjustment process, the gain in sales to telecommunication operators did not adequately make up for the loss of distributor sales.

(ii) Cost of Goods Sold

Analysis of our cost of goods sold by business segment for fiscal years 2006 and 2005 is as follows:

Year ended December 31
2005 (Restated) 2006

Rmb'000 % Rmb'000 %
Mobile telephones 1,941,313 90 2,457,129 93
Indoor telephones 215,485 10 194,263 7
Total 2,156,798 100 2,651,392 100


Cost of goods sold increased by Rmb 495 million from Rmb 2,157 million for fiscal year 2005 to Rmb 2,651 (US$ 339.7 million) for fiscal year 2006, representing an increase of 22.9%.

In 2005, the cost of goods sold for the mobile phones business segment was Rmb 1,941 million, while it amounted to Rmb 2,457 million (US$ 314.8 million) in 2006, representing an increase of Rmb 516 million. The increase was mainly attributable to the increase in the cost of goods sold relating to CECT- branded handsets and accessories.

Cost of goods sold relating to the CECT-branded handsets and accessories increased by 35.1% from Rmb 1,526.4 million in 2005 to Rmb 2,062.2 million ($264.2 million) in 2006, primarily driven by increased unit sales volume of the CECT-branded handset products, which resulted in, among others, a Rmb 315.1 million increase in raw materials and components cost. After-sales service related expenses for the CECT-branded handsets and accessories also increased from Rmb 9.2 million in 2005 to Rmb 14.7 million ($1.9 million) in 2006, mainly reflecting increased sales volume.

Cost of goods sold relating to the COSUN-branded mobile phone handsets for 2006 were Rmb 395 million (US$50.6 million), representing a decrease of Rmb 20 million. The decrease was the net result of the following two factors, operating in opposite directions: decrease in sales revenue on the one hand, and increase in unit cost as a result of reduced scale on the other hand.

Cost of goods sold for the indoor telephone business segment for 2006 were Rmb 194 million (US$ 24.9 million), representing a decrease of Rmb 21 million. The decrease in the cost of goods sold primarily reflected the decrease in sales revenue. It was also to a lesser extent attributable to improved cost control particularly in the area of supply-chain management.

(iii) Gross Profit

Analysis of our gross profit by business segment for fiscal years 2006 and
2005 is as follows:


Year ended December 31
2005(Restated) 2006
Rmb'000 % Rmb'000 %
Mobile telephones 439,218 92 528,303 92
Indoor telephones 39,168 8 41,517 8
Total 478,386 100 569,820 100


Gross profit for fiscal year 2006 was Rmb 570 million (US$ 73.0 million), representing an increase of Rmb 91 million from Rmb 478 million in fiscal year 2005.

In 2005, the gross profit from the mobile phone business segment was Rmb 439 million, while it amounted to Rmb 528 million (US$ 67.7 million) in 2006, representing an increase of Rmb 89 million. The increase was mainly attributable to the increase in gross profit from the sale of CECT-branded handsets and accessories.

Gross profit from the sale of CECT-branded handsets and accessories increased by 40.6% from Rmb 337.7 million in 2005 to Rmb 475.0 million ($60.9 million) in 2006, primarily due to increased sales volume of the CECT-branded handset products.

Gross profit for the COSUN-branded mobile phone handsets decreased by Rmb 48 million from Rmb 102 million in fiscal year 2005 to Rmb 53 million (US$ 6.8 million) in fiscal year 2006. The decrease was mainly attributable to the decrease in sales volume and the trend of reducing unit selling prices in the market for lower-end mobile phone handsets among which there is not much differentiation.

Gross profit for the indoor telephone business segment increased by Rmb 2 million from Rmb 39 million in fiscal year 2005 to Rmb 42 million (US$ 5.4 million) in fiscal year 2006. The increase was the net result of the following two factors, operating in opposite directions: decrease in sales revenue on the one hand, and increase in the gross profit ratio on the other hand. Three major factors contributed to the increase in gross profit ratio: (1) an adjusted product mix with a higher proportion of higher-end and value- added products that generally have higher unit selling prices and command higher gross margins, (2) our improved cost control particularly in the area of supply chain management, and (3) the fact that the direct sales to telecommunication operators took a larger portion.

(iv) Selling expenses

Selling expenses increased by Rmb 3.7 million from Rmb 24.7 million for fiscal year 2005 to Rmb 28.4 million (US$ 3.6 million) for fiscal year 2006. The increased expenses were mainly in the following areas:

-- COSUN-branded mobile phone handsets: brand building and
maintenance and the expansion of the distribution network subsequent
to the receipt of a separate mobile phone handsets manufacturing
license from the PRC government in June 2006;
-- Indoor phones: additional sales force and the establishment of
provincial offices for a stronger relationship with our
telecommunication operator clients.

(v) General and administrative expenses including stock-based compensation

General and administrative expenses including stock-based compensation increased by Rmb 70.7 million from Rmb 55.3 million in fiscal year 2005 to Rmb 126.1 million (US$ 16.2 million) in fiscal year 2006.

General and administrative expenses other than stock-based compensation increased by Rmb 12.8 million from Rmb 54.6 million in fiscal year 2005 to Rmb 67.4 million (US$ 8.6 million) in fiscal year 2006. The increase was mainly in connection with the following:

-- office expenses relating to new offices set up in provinces to serve
clients of the indoor phone business segment who are
telecommunication operators, and
-- increased number of after-sales service points and workshops for
the COSUN-branded mobile phone handsets.

Stock-based compensation increased by Rmb 58.0 million from Rmb 0.7 million in 2005 to Rmb 58.7 million (US$ 7.5 million) in 2006. The increase was mainly due to the grant of stock options in 2006. In February 2006, pursuant to the Company's 2005 Stock Plan, 2,000,000 incentive stock options, exercisable during a 10-year period commencing on February 24, 2006, were issued to certain employees and consultants of the Company at an exercise price of US$7.00 per share,. All the options granted were exercised during 2006. In accordance with the requirements of SFAS No. 123-R and EITF 96-18, the fair value of the options, which amounted to approximately Rmb58,707,000 (US$7,523,000) as computed using the Black-Scholes option-pricing model on the grant date, has been recognized as share-based compensation expenses in the year ended December 31, 2006.

(vi) Research and development

Research and development expenses increased by Rmb 10.0 million from Rmb 20.7 million for fiscal year 2005 to Rmb 30.7 million (US$ 3.9 million) for fiscal year 2006. The increase related mainly to the increase in research and development effort subsequent to the receipt of a separate mobile phone handset manufacturing license from the PRC government relating to the COSUN- branded mobile phone handsets in June 2006. HZQXCI spent more in research and development following the receipt of the separate license. More than ten models were developed by HZQXCI for commercial launch in 2007.

(vii) In-process research and development

There was a write-off of in-process research and development expenses of Rmb 41.7 million (US$ 5.3 million) at the date of acquisition of the remaining 20% minority interest in QX Mobile on November 30, 2006. We did not have similar charges in 2005.

(viii) Amortization of intangible assets

As a result of the acquisition of the remaining 20% minority interest in QX Mobile on November 30, 2006, amortization of intangible assets increased by Rmb 3.3 million from Rmb 11.9 million in 2005 to Rmb 15.2 million ($1.9 million) in 2006.

(ix) Interest expenses

Interest expenses increased by Rmb 58.7 million from Rmb 1.8 million in 2005 to Rmb 100.4 million ($12.9 million) in 2006.

We recorded interest expenses of Rmb 55.9 million (US$ 7.2 million) in 2006 relating to two convertible bonds issued in 2006. We did not have similar charges in 2005.

Coupon interest for the two convertible bonds amounted to Rmb 7.7 million (US$ 1.0 million) in 2006.

The discount arising from the Investors Warrants and the embedded derivatives associated with the two convertible notes, which totaled Rmb 244.4 million (US$ 31.3 million) on initial recognition, was accreted to interest expense over the expected terms of the Notes using the effective interest method. The related interest expenses amounted to Rmb 36.9 million (US$ 4.7 million) in 2006.

The deferred debt issuance costs associated with the two convertible notes, which totaled Rmb 66.8 million (US$ 8.6 million) on initial recognition, were amortized to expense over the expected term of the Notes using the effective interest method. The related interest expenses amounted to Rmb 11.3 million (US$ 1.4 million) in 2006.

(x) Loss on re-measurement of embedded derivatives

The two convertible notes issued in 2006 are hybrid instruments that come with embedded derivatives, including the right to convert the notes by the note holders, a premium put, a put option conditional upon certain events of default and a put option conditional upon a change of control. In accordance with the guidance of SFAS No. 133, as amended, "Accounting for Derivative Instruments and Hedging Activities," and EITF Issue No. 00-19, the embedded derivatives must be removed from the debt host and accounted for separately as derivative instruments. Based on EITF No. 00-19, the embedded derivatives were determined to be classified as liabilities on the balance sheet. The value of the embedded compound derivatives, which totaled approximately Rmb 211.3 million (US$ 27.1 million) on the dates of initial recognition, has been deducted as a discount to the total face value of the US$66 million for the two convertible bonds and recorded as a liability on the balance sheet. The valuation of the embedded derivatives was derived by using various valuation methods, which included Monte Carlo Simulation and Backward Dynamic Programming.

The embedded derivatives will be marked-to-market at the end of each reporting period with the resulting gain or loss recognized in the statement of operations. The Company conducted a valuation of the embedded derivatives as of December 31, 2006 using the same valuation methods as those used on initial recognition and due principally to the change in the Company's stock price from US$7.21 at June 13, 2006 and from US$15.45 at October 31, 2006 to US$13.19 at December 29, 2006, the valuation conducted resulted in a non-cash net charge of approximately Rmb 134.4 million (US$17.2 million) and a corresponding change in the embedded derivative liabilities. As of December 31, 2006, the fair value of the embedded derivative liability amounted to approximately Rmb 340.9 million (US$43.7 million).

We did not record similar loss on re-measurement of embedded derivatives in 2005.

(xi) Gain on disposal of subsidiary

In July 2005, we recognized a RMB10.3 million gain on disposal of a 90.0% equity interest in Beijing Jinxin Hengtong Technology Company Limited originally held through CECT, in connection with the acquisition of an additional 25.0% equity interest in CECT by QX Mobile.

We did not record similar gains on disposals in 2006.

(xii) Impairment of investment at cost

During the year ended December 31, 2005, we recorded an impairment charge of RMB7.3 million in respect of CECT's 10% equity investment in CEC Mobile Co. Ltd. The provision was necessitated due to a slow-down in the business of CEC Mobile Co. Ltd. that resulted from difficult market conditions in the PRC's CDMA mobile phone market.

We did not record similar impairment of investment at cost in 2006.

(xiii) Income tax expense

Income tax expense increased by Rmb 32.7 million from RMB25.5 million in 2005 to Rmb 58.2 million ($7.5 million) in 2006. The increase was due primarily to increases in taxable income and applicable tax rate in our indirectly-owned subsidiary, CECT, which manufactures and sells CECT-branded mobile phone handsets. CECT was subject to a 15% enterprise income tax rate in 2006, compared to 7.5% in 2005.

(xiv) Extraordinary gain on acquisition of minority interests - net of nil tax

The Company's subsidiary QX Mobile acquired the 25.0% minority interest in CECT in July 2005 for a total consideration of Rmb 75.0 million. The fair value of the underlying net assets representing the 25.0% interest in CECT exceeded our acquisition price. This favorable purchase price primarily reflects the facts that (i) CEC sought to dispose of its interest in CECT on an accelerated basis to complete its own group restructuring plans, and (ii) it became easier for domestic enterprises to manufacture mobile handsets in China due to regulatory changes, which reduced the marketability and demand for the license held by CECT. QX Mobile recognized the unallocated portion of the excess of the fair value of the acquired assets over the acquisition price of Rmb 47.0 million as an extraordinary gain in 2005. The Company' share in the extraordinary gain was Rmb 37.6 million after minority interests.

QX Mobile also recorded an extraordinary gain of Rmb 17.8 million ($2.3 million) in connection with QX Mobile's capital injection of $18.8 million (equivalent to Rmb 149.6 million) into CECT in July 2006 because the other shareholder of CECT, who sold all its remaining 6.6% equity interest in CECT to Qiao Xing Group in December 2006, did not participate in the capital injection at that time. The Company's share in the extraordinary gain was Rmb 14.2 million (US$ 1.8 million) after minority interests.

(xv) Net income

Net loss of Rmb 19.8 million (US$2.5 million) was recorded for fiscal year 2006, compared with net income of Rmb 244.9 million for fiscal year 2005. The decrease of Rmb 264.7 million between fiscal years 2005 and 2006 was mainly due to the net effect of the following in fiscal year 2006:

(1) increase in gross profit of Rmb 91.4 million (US$ 11.7
million);
(2) increase in general and administrative expenses of
Rmb 70.7 million (US$ 9.1 million);
(3) increase in research and development costs of Rmb 10.1 million
(US$1.3 million);
(4) increase in in-process research and development of Rmb 41.7
million (US$ 5.3 million);
(5) increase in interest expense of Rmb 58.7 million (US$ 7.5
million);
(6) increase in loss on re-measurement of embedded derivative of
Rmb 134.4 million (US$ 17.2 million);
(7) decrease in gain on disposal of subsidiary of Rmb 10.3 million
(US$ 1.3 million);
(8) increase in provision for income tax of Rmb32.7 million
(US$ 4.2 million);
(9) decrease in minority interests of Rmb 14.8 million
(US$ 1.9 million); and
(10) decrease in extraordinary gain on acquisition of minority
interests of Rmb 23.4 million (US$ 3.0 million).

Based on a weighted average of 23,712,000 shares outstanding during fiscal year 2006, the Company reported basic loss after extraordinary gain per common share of Rmb 0.84 (US$0.11), compared to basic earnings after extraordinary gain per common share of Rmb 13.37 on 18,319,000 weighted-average shares outstanding during fiscal year 2005.

About Qiao Xing Universal Telephone, Inc.

Qiao Xing Universal Telephone, Inc. is one of China's largest manufacturers and distributor of telecommunications products in China. QXUT's product portfolio includes telecommunications terminals and related products, including fixed wireless phones, VoIP telephones, mobile handsets, PDAs and consumer electronic products, including MP3 players, cash registers and set- top-box products. The Company primarily conducts its business through its operating subsidiaries CEC Telecom Co., Ltd (CECT), and Huizhou Qiao Xing Communication Industry Co., Ltd (HZQXCI), a company engaged in R&D and distribution of indoor telephone sets and economy mobile phones under the COSUN brand. The Company Group has built a strong distribution network comprised of more than 5,000 retail stores throughout China and has established partnerships with major retailers in Europe, North America and Latin America, including Bellsouth and Wal-mart. For more details, please visit http://www.cosun-xing.com .

Safe Harbor Statement

This announcement contains forward-looking statements, as defined in the safe harbor provisions of the U.S. Private Securities Litigation Reform Act of 1995. In some cases, these forward-looking statements can be identified by words or phrases such as "aim," "anticipate," "believe," "continue," "estimate," "expect," "intend," "is /are likely to," "may," "plan," "potential," "will" or other similar expressions. Statements that are not historical facts, including statements about Qiao Xing Universal's beliefs and expectations, are forward-looking statements. Forward-looking statements involve inherent risks and uncertainties. A number of factors could cause actual results to differ materially from those contained in any forward- looking statement. Information regarding these factors is included in our filings with the Securities and Exchange Commission. Qiao Xing Universal does not undertake any obligation to update any forward-looking statement, except as required under applicable law. All information provided in this press release is as of July 17, 2007, and Qiao Xing Universal undertakes no duty to update such information, except as required under applicable law.

For further information, please contact:

Rick Xiao
Tel: [phone]
Email: [e-mail]

[lion67]

AP
Qiao Restates Earnings From 2003 to 2005
Tuesday July 17, 10:43 am ET

Qiao Earnings Restatement From 2003 to 2005 to Correct Accounting Errors, Lowers Profit
NEW YORK (AP) -- Chinese phone maker and distributor Qiao Xing Universal Telephone Inc. said Tuesday it restated results for three years, lowering reported earnings, after uncovering accounting errors at its mobile unit.

Qiao also reported a loss of $2.5 million, or 19 cents per share, in 2006.

The company said it restated profit for 2003, 2004 and 2005, lowering earnings in those years by 16.3 million Chinese yuan ($2.2 million), 21.5 million Chinese yuan ($2.8 million) and 3.8 million Chinese yuan ($503,000) respectively.

The restatements were related to the company's Qiao Xing Communication Co. unit.

For the latest year, Qiao said sales rose 22 percent to $412.8 million, boosted by sales at its mobile unit CEC Telecom Co.

Qiao shares plunged $2.97, or 21.3 percent, to $11 in morning trading. In the past year, the stock has ranged from $10.63 to $19.94.

Questions or comments about this story should be directed to the Financial News desk of The Associated Press at 212-621-7190.

[lion67]

Na, dann wollen wir mal hoffen, dass die am 27.07.07 ankündigten Zahlen für das 1. Quartal 2007 zum einen pünktlich kommen und zum anderen positiv ausfallen - wäre schon eine feine Sache.

Ciao, lion67



Press Release Source: Qiao Xing Universal Telephone, Inc.


Qiao Xing Universal Telephone Provides a Review of its 2006 Financial Performance and an Update on its Recent Developments
Wednesday July 18, 9:30 am ET

HUIZHOU, Guangdong, China, July 18 /Xinhua-PRNewswire-FirstCall/ -- Qiao Xing Universal Telephone, Inc. (Nasdaq: XING - News) provides today a review of its 2006 Financial Performance and an update on its recent developments.

Highlights
-- The Company achieved significant growth in nets sales and in gross
profit in 2006;
-- This otherwise respectable financial performance was however dented by
certain expenses of a special nature which did not involve any outflow
of cash;
-- Certain corporate transactions in the second quarter of 2007 would
result in gains on deemed disposals of a subsidiary and an
extraordinary gain on an acquisition of minority interests in a
subsidiary;
---The Company targets to release 2007 first quarter financial information
shortly.

Review of 2006 Financial Performance

The Company achieved significant growth in nets sales and in gross profit in 2006. This otherwise respectable financial performance was however dented by certain expenses of a special nature which did not involve any outflow of cash.

For fiscal year 2006, net sales increased by Rmb 586.0 million from Rmb 2,635.2 million for fiscal year 2005 to Rmb 3,221.2 million (USD 412.8 million) for fiscal year 2006, representing an increase of 22.2%.

Gross profit for fiscal year 2006 was Rmb 569.8 million (USD 73.0 million), representing an increase of Rmb 91.4 million from Rmb 478.4 million in fiscal year 2005.

In 2006, we recorded Rmb 58.7 million (USD 7.5 million) of general and administrative expenses of a non-cash nature, which was classified as stock- based compensation in connection with the grant of stock options in 2006.

In connection with the acquisition of the remaining 20% minority interest in Qiao Xing Mobile Communication Co., Ltd. (QXMC) on November 30, 2006, there was in 2006 a write-off of in-process research and development of Rmb 41.7 million (USD 5.3 million) at the date of acquisition.

For comparison purposes, concerning similar non-cash expense items, the Company recorded stock-based compensation expenses of Rmb 0.7 million for 2005. There were no in-process R&D expenses for 2005. If the share-based compensation expenses and the in-process research and development, which did not involve any outflow of cash, had been taken out, XING's income from operations for the fiscal years 2005 and 2006 would have been Rmb 366.4 million and Rmb 428.1 million (USD 54.8 million) respectively. The actual income from operations for the fiscal year 2006 was Rmb 327.7 million (USD 42.0 million), after duly giving effect to those non-cash expenses.

In June 2006 and in October 2006, the Company issued convertible notes of face values of USD 40 million and USD 26 million respectively which resulted in financial expenses for 2006 as listed below:

(1) Coupon interest paid in cash for the two convertible bonds amounted to
Rmb 7.7 million (US$ 1.0 million) in 2006.
(2) The discount arising from the Investors Warrants and the embedded
derivatives associated with the two convertible notes, which totaled
Rmb 244.4 million (US$ 31.3 million) on initial recognition, was
accreted to interest expense over the expected terms of the Notes
using the effective interest method. The related non-cash interest
expenses amounted to Rmb 36.9 million (US$ 4.7 million) in 2006.
(3) The deferred debt issuance costs associated with the two convertible
notes, which totaled Rmb 66.8 million (US$ 8.6 million) on initial
recognition, were amortized to expense over the expected term of the
Notes using the effective interest method. The related non-cash
interest expenses amounted to Rmb 11.3 million (US$ 1.4 million) in
2006.
We did not have similar charges in 2005.
(4) The two convertible notes issued in 2006 are hybrid instruments that
come with embedded derivatives, including the right to convert the
notes by the note holders, a premium put, a put option conditional
upon certain events of default and a put option conditional upon a
change of control. In accordance with the guidance of SFAS No. 133,
as amended, "Accounting for Derivative Instruments and Hedging
Activities," and EITF Issue No. 00-19, the embedded derivatives must
be removed from the debt host and accounted for separately as
derivative instruments. Based on EITF No. 00-19, the embedded
derivatives were determined to be classified as liabilities on the
balance sheet. The value of the embedded compound derivatives, which
totaled approximately Rmb 211.3 million (US$ 27.1 million) on the
dates of initial recognition, has been deducted as a discount to the
total face value of the US$66 million for the two convertible bonds
and recorded as a liability on the balance sheet. The valuation of
the embedded derivatives was derived by using various valuation
methods, which included Monte Carlo Simulation and Backward Dynamic
Programming.

The embedded derivatives will be marked-to-market at the end of each reporting period with the resulting gain or loss recognized in the statement of operations. The Company conducted a valuation of the embedded derivatives as of December 31, 2006 using the same valuation methods as those used on initial recognition and due principally to the change in the Company's stock price from US$7.21 at June 13, 2006 and from US$15.45 at October 31, 2006 to US$13.19 at December 29, 2006, the valuation conducted resulted in a non-cash net charge of approximately Rmb 134.4 million (US$17.2 million) and a corresponding change in the embedded derivative liabilities. As of December 31, 2006, the fair value of the embedded derivative liability amounted to approximately Rmb 340.9 million (US$43.7 million).

We did not record similar loss on re-measurement of embedded derivatives in 2005.

If the aforementioned major items of non-cash expenses had been taken out, the income before income tax for 2005 and 2006 would have been Rmb 332.8 million and Rmb 391.6 million (USD 50.0 million) respectively. Giving effect to these items of non-cash expenses, in accordance with generally accepted accounting principles, the Company duly recorded an income before income tax of Rmb 108.6 million (USD 13.9 million) for the fiscal year 2006.

Update on Recent Developments

On May 2, 2007, the Company's subsidiary, QXMC was listed on the New York Stock Exchange through an IPO. Immediately prior to the listing, the investors of the 3.5% senior convertible notes (3.5% Note) exercised the option to convert the full US$40 million of the convertible notes into 7,800,000 ordinary shares of QXMC. Subsequent to the conversion and prior to the listing, QXMC became 19.5% owned by the investors of the 3.5% Note investors and 80.5% owned by the Company. QXMC's IPO, which was priced at USD12 per share, consisted of 12,500,000 new ordinary shares issued by QXMC and an additional 833,334 ordinary shares offered by the 3.5% Note investors. As a consequence of QMXC's IPO, the Company's interest in QMXC was further diluted to approximately 61.33%. The extinguishment of the 3.5% Note and the deemed disposal of approximately 38.67% in QXMC are expected to give rise to accounting gains during the year ending December 31, 2007, which management is presently in the process of evaluating. There would be no more expenses, whether of a cash or non-cash nature, relating to the 3.5% Note after its extinguishment in May 2007.

In June 2007, the Company's subsidiary, QXMC, injected additional capital of US$50.0 million into its own subsidiary CEC Telecom Co., Ltd. (CECT). As Qiao Xing Group Limited (QXPL), the minority shareholder of CECT, did not participate in the capital injection, QXMC's equity interest in CECT was increased from 93.41% to 96.55%, while the equity interest held by QXGL was reduced from 6.59% to 3.45%. Under the purchase method of accounting, QXMC's deemed acquisition of the additional 3.14% equity interest in CECT from QXGL is expected to result in an extraordinary acquisition gain during the year ending December 31, 2007, which management is presently in the process of evaluating.

Release of 2007 First Quarter Financial Information

The Company targets to release its statements of operations and net income for the first quarter of 2007 on July 27, 2007.

About Qiao Xing Universal Telephone, Inc.

Qiao Xing Universal Telephone, Inc. is one of China's largest manufacturers and distributor of telecommunications products in China. QXUT's product portfolio includes telecommunications terminals and related products, including fixed wireless phones, VoIP telephones, mobile handsets, PDAs and consumer electronic products, including MP3 players, cash registers and set- top-box products. The Company primarily conducts its business through its operating subsidiaries CEC Telecom Co., Ltd (CECT), and Huizhou Qiao Xing Communication Industry Co., Ltd (HZQXCI), a company engaged in R&D and distribution of indoor telephone sets and economy mobile phones under the COSUN brand. The Company Group has built a strong distribution network comprised of more than 5,000 retail stores throughout China and has established partnerships with major retailers in Europe, North America and Latin America, including Bellsouth and Wal-mart. For more details, please visit http://www.cosun-xing.com .

Safe Harbor Statement

This announcement contains forward-looking statements, as defined in the safe harbor provisions of the U.S. Private Securities Litigation Reform Act of 1995. In some cases, these forward-looking statements can be identified by words or phrases such as "aim," "anticipate," "believe," "continue," "estimate," "expect," "intend," "is /are likely to," "may," "plan," "potential," "will" or other similar expressions. Statements that are not historical facts, including statements about Qiao Xing Universal's beliefs and expectations, are forward-looking statements. Forward-looking statements involve inherent risks and uncertainties. A number of factors could cause actual results to differ materially from those contained in any forward- looking statement. Information regarding these factors is included in our filings with the Securities and Exchange Commission. Qiao Xing Universal does not undertake any obligation to update any forward-looking statement, except as required under applicable law. All information provided in this press release is as of July 18, 2007, and Qiao Xing Universal undertakes no duty to update such information, except as required under applicable law.

For further information, please contact:

Rick Xiao
Tel: [phone]
Email: [e-mail]

[Diva]

Antwort auf Beitrag Nr.: 30.745.730 von lion67 am 18.07.07 16:12:08

da war doch zeitnah noch ein event ....

[Diva]

Latest News

--------------------------------------------------------------------------------
Qiao Xing Universal Telephone, Inc. Reports Significant Improvement in All Major Financial Indicators of Operational Performance for the First Quarter of 2007


HUIZHOU, China, July 27, 2007 /Xinhua-PRNewswire-FirstCall via COMTEX/ -- Qiao
Xing Universal Telephone, Inc. (Nasdaq: XING) reports today its un-audited
financial results for the three months ended March 31, 2007.

Highlights

Net sales, gross profit and income from operations amounted to Rmb 870.2 million
(USD 112.7 million), Rmb 191.8 million (USD 24.8 million) and 145.0 million (USD
18.8 million) respectively for the first quarter of 2007 compared to Rmb 679.1
million, Rmb 107.8 million and Rmb 17.1 million respectively for the same period
in 2006.

Excluding the non-cash expenses (see Chart 2 below), which may not be indicative
of the Company's core business operating results, net income and basic earnings
per share for the first quarter of 2007 would have been Rmb122.9 million
(USD15.9 million) and Rmb4.15 (USD0.54), respectively.

Net sales for the second quarter of 2007 is estimated to increase within the
range of 31.4% to 41.4% from the same period in 2006.

Accounting gains to be recorded in the second quarter of 2007 on the conversion
of convertible notes by the note holders to shares of a subsidiary and the
deemed disposal of a subsidiary through its initial public offering are
estimated to amount to Rmb 738.7 million (USD 95.6 million) in total.

"The first quarter of 2007 marked a strong start to the year," commented Mr. Wu
Rui Lin, Chairman of XING "In the first quarter, our significant operating
subsidiary CEC Telecom Co., Ltd. (CECT) achieved great success in selling one of
its newest mobile phones, the C1000 model that features ultra- long life in
standby mode, through China Seven Star, one of the leading infomercial companies
in China. We have found that this has not only become a key sales channel, but
it has also turned into a great marketing outlet because it allows consumers to
see the differentiated features that our mobile phone handsets offer.

"Additionally, we progressed smoothly on our new product development. We have
and will release a number of new mobile phone handsets that feature fingerprint
recognition, dual SIM card capabilities, multiple speakers, and built in TVs. We
believe these mobile phone handsets will help us maintain our track record of
delivering high-quality mobile phones that consumers in our end markets demand."

Discussion and Analysis of Operational Performance in the First Quarter of 2007

Net sales amounted to Rmb 870.2 million (USD 112.7 million) for the first
quarter of 2007 compared to Rmb 679.1 million for the same period in 2006.

The increase mainly related to the sale of CECT-branded mobile phone handsets.
The increase in the sale of CECT-branded handsets was primarily due to higher
handset shipments and a higher average selling price ("ASP") of handsets
shipped. Handset shipments of CECT-branded handsets in the first quarter of 2007
were 753,000 units, an increase of 40.8 % compared to 535,000 units in the first
quarter of 2006. The growth in handset shipments in the first quarter of 2007
was primarily driven by the popularity of CECT's ultra- long standby handset
models which were first introduced in April 2006. CECT's ultra-long standby
handsets can last up to 2 months in standby mode without a recharge.
Additionally, CECT effectively broadened its distribution channel towards the
end of 2006 when CECT began using infomercials to market and sell handsets
directly to consumers.

ASP for CECT-branded handsets rose to Rmb944 (USD$122) in the first quarter of
2007, compared to Rmb859 in the first quarter of 2006, primarily because of
higher selling prices for ultra-long standby handsets.

Gross profit amounted to Rmb 191.8 million (USD 24.8 million) for the first
quarter of 2007 compared to Rmb 107.8 million for the same period in 2006.

The increase mainly related to the gross profit contribution from the sale of
CECT-branded mobile phone handsets. Gross profit relating to the sale of
CECT-branded handsets was Rmb166.4 million (USD$21.5 million) in the first
quarter of 2007, or 23.2% of revenues, which was an increase from a gross profit
of Rmb86.3 million, or 17.3 % of revenues in the first quarter of 2006, The
increase in gross profit and the improvement in gross margin were primarily due
to the sales of significant quantities of higher-margin handset products. In
particular, CECT sold approximately 198,000 units of C1000 ultra- long standby
handsets and 65,000 units of IP1000 ultra-long standby handsets in the first
quarter of 2007.

Income from operations amounted to Rmb 145.0 million (USD 18.8 million)
respectively for the first quarter of 2007 compared to Rmb 17.1 million
respectively for the same period in 2006.




Condensed Consolidated Income Statement for the First Quarter of 2007
CHART 1


2007 first quarter 2007 first quarter
Un-audited Un-audited

Rmb '000 USD '000

Net sales 870,221 112,676
Cost of goods sold (678,399) (87,839)
Gross profit 191,821 24,837
Gross margin 22.0% 22.0%
Operating expenses (46,773) (6,056)
Income from operations 145,049 18,781
Operating margin 16.7% 16.7%
Non-operating expenses (net) (212,923) (27,569)
Loss before income tax and minority
interests (67,874) (8,788)
Income tax expense (20,656) (2,675)
Loss before minority interests (88,530) (11,463)
Minority interests (8,977) (1,162)
Net loss (97,506) (12,625)

Basic loss per share Rmb (3.29) USD (0.43)
Diluted loss per share Rmb (3.29) USD (0.43)

Weighted average number of shares
outstanding - basic 29,627,000 29,627,000
Weighted average number of shares
outstanding -- diluted 29,627,000 29,627,000




Included in operating expenses were non-cash charges relating to share- based
compensation and amortization of acquired intangible assets. Included in
non-operating expenses were non-cash charges relating to the US$40 million 3.5%
convertible notes issued in June 2006 and the US$26 million 4.5% convertible
notes issued in October 2006. In management's opinion, these charges, which are
listed in Chart 2 below with their amounts, may not be indicative of the
Company's core business operating results.





CHART 2


Account Notes 2007 first 2007 first
classification quarter quarter
Un-audited Un-audited

Rmb '000 USD'000

Share-based Operating expenses (1) (1,800) (233)
compensation
expenses
Amortization of Operating expenses (13,231) (1,713)
acquired
intangible
assets
Non-cash interest Non-operating (46,862) (6,068)
expenses expenses
Loss on Non-operating (158,480) (20,520)
re-measurement of expenses
embedded
derivatives




Had the above non-cash charges been excluded, net income and basic earnings per
share for the first quarter of 2007 would have been Rmb122.9 million (USD15.9
million) and Rmb4.15 (USD0.54), respectively.

(1) Share-based compensation expenses, which have been classified as operating
expenses, of Rmb 1.8 million (US$0.2 million) were recorded in the first quarter
of 2007. Qiao Xing Mobile Communication Co., Ltd. (QXMC), a consolidated
subsidiary of XING's, adopted its 2007 equity incentive plan on March 19, 2007
and granted options to a director and certain employees to purchase ordinary
shares of QXMC under this plan. These options vest at different dates beginning
November 1, 2007 and have terms varying from two to six years from the date of
grant. Management is still in the process of evaluating the value of ordinary
shares of QXMC for the purpose of determining the share-based compensation
expenses associated with the share options which were granted on March 19, 2007
and which remain unexercised as of March 31, 2007. Given the preliminary nature
of the estimates, the actual share-based compensation expenses for the first
quarter of 2007 may be materially different from management's current
expectations upon further evaluation.

Guidance for the Second Quarter of 2007

It is estimated that net sales for the second quarter of 2007 would reach an
amount ranging from Rmb 972.7 million (USD 125.9 million) to Rmb 1,046.7 million
(USD 135.5 million), up from 31.4% to 41.4% from the same period of last year.

The following is management's estimate of the amounts of non-cash income and
expenses in the second quarter of 2007:




CHART 3


Account Notes 2007 second 2007 second
classification quarter quarter
Estimate Estimate
Un-audited Un-audited

Rmb '000 USD'000

Net gain on Non-operating (1) 343,953 44,535
conversion of income
XING convertible
notes by
note holders to
QXMC shares
Gain on deemed Non-operating (1) 394,744 51,111
disposal of QXMC income
through IPO
Share-based Operating (10,200) (1,321)
compensation expenses
expenses
(Group's
share after
related
minority
interests)
Amortization of Operating (4,712) (610)
acquired expenses
intangible
assets (Group's
share after
related
minority
interests)
Non-cash Non-operating (44,231) (5,727)
interest expenses
expenses
Gain on Non-operating 63,238 8,188
re-measurement incomes
of embedded
derivatives
Extraordinary Extraordinary (2) Presently in Presently in
gain on gain the process the process
acquisition of of evaluating of evaluating
minority
interests in
CECT by QXMC




(1) On May 2, 2007, the Company's subsidiary, QXMC was listed on the New York
Stock Exchange through an IPO. Immediately prior to the listing, the investors
of the 3.5% Note exercised the option to convert the full US$40 million of the
convertible notes into 7,800,000 ordinary shares of QXMC. Subsequent to the
conversion and prior to the listing, QXMC became 19.5% owned by the investors of
the 3.5% Note investors and 80.5% owned by the Company. QXMC's IPO. As a
consequence of QMXC's IPO, the Company's interest in QMXC was further diluted to
approximately 61.33%. The extinguishment of the 3.5% Note and the deemed
disposal of approximately 38.67% in QXMC gave rise to accounting gains estimated
to be approximately Rmb 749.1 million (USD 97.0 million) in aggregate in the
second quarter of 2007.

(2) In June 2007, the Company's subsidiary, QXMC, injected additional capital of
USD 50.0 million into CECT. As Qiao Xing Group Limited (QXGL), the minority
shareholder of CECT, did not participate in the capital injection, QXMC's equity
interest in CECT was increased from 93.41% to 96.55%, while the equity interest
held by QXGL was reduced from 6.59% to 3.45%. Under the purchase method of
accounting, QXMC's deemed acquisition of the additional 3.14% equity interest in
CECT from QXGL is expected to result in an extraordinary acquisition gain in the
second quarter of 2007, which management is presently in the process of
evaluating.

About Qiao Xing Universal Telephone, Inc.


xxxxx




wird scho no ....

[Diva]

Antwort auf Beitrag Nr.: 30.880.631 von Diva am 27.07.07 18:37:12

nix mehr los hier???

[lion67]

Press Release Source: Qiao Xing Universal Telephone, Inc.


Qiao Xing Universal Telephone, Inc. Provides Estimates of Certain Key Financial Data for the Second Quarter of 2007
Wednesday September 5, 8:09 am ET

Gross Margin Increased From 19.76% for the Same Period in 2006 to 31.19%

HUIZHOU, China, Sept. 5 /Xinhua-PRNewswire-FirstCall/ -- Qiao Xing
Universal Telephone, Inc. (Nasdaq: XING - News) today provides estimates, of certain
key financial data of the Group for the second quarter of 2007(Q2) ahead of
the release of the Q2 income statement, which will include information about
earnings per share.


2006 second 2007 second 2007 second
quarter quarter quarter
RMB '000 RMB '000 USD '000
Net sales 740,229 1,001,094 131,515
Cost of goods sold (593,944) (688,897) (90,501)
Gross profit 146,286 312,198 41,014
Operating expenses (40,575) (75,173) (9,876)
Income from
operations 105,711 237,024 31,138


Mr. Wu Rui Lin, Chairman of XING, said, "We are very glad to see all the significant achievements made by both of our two major operating subsidiaries."

Dr. David Li, Chief Executive Officer of CEC Telecom Co., Ltd. (CECT), a major operating subsidiary of XING engaged in the mobile phone handset business in China under the 'CECT' brand, said, "CECT has been able to successfully continue its track record of developing new mobile phones that offer differentiated features that specifically cater to the demands of end customers in China. CECT more than doubled the number of handset units that were sold in the same quarter last year, mainly due to the increase in sales volume of its C1000-series handsets. The sales volume of the original CECT- branded C1000 model that was released in November 2006 continues to increase; CECT almost sold as many units of the C1000 in the second quarter as it did for its entire product line in the first quarter. The release of new upgraded versions, including the C1000+, which offers password protection and a sleek new design, and the C2000, which adds multimedia functions such as MP3 and MP4 players, and a digital camera, are now accelerating CECT's strong performance."

Mr. Wu Zhi Zhong, CEO of XING's a other operating subsidary, said, " Huizhou Qiao Xing Communication Industry, Ltd. (HZQXCI) is also experiencing significant growth. For its mobile phone business, HZQXCI has substantially completed the transition of the product portfolio from full range to lower-end and the related adjustments in research and development and in the distribution network. A number of new models of COSUN-branded mobile handsets have recently been launched. They included the T2188 model, of which orders for 300,000 units have been already been received."

2Q Financial Review of the Operations

Net sales increased RMB260.9 million from RMB740.2 million for the second quarter of 2006 to RMB 1,001.1 million for the second quarter of 2007. The increase was mainly attributable to the sale of CECT-branded mobile phone handsets.

Revenues for the sale of CECT-branded handsets were RMB844 million (US$111 million) in the second quarter of 2007, an increase of 33.3% from RMB633 million in the second quarter of 2006, primarily due to higher handset shipments.

Shipments of CECT-branded handsets in the second quarter of 2007 were 1,055,000 units, an increase of 114.2% compared to 492,000 units in the second quarter of 2006. The growth in handset shipments in the second quarter of 2007 was primarily due to the increase in the sales volume of the C1000, an ultra- long standby handset model, achieving 610,000 in unit sales in the second quarter of 2007. Additionally, the C1000+ and C2000, which are both upgraded models based on the C1000, were both launched in May 2007 and sold approximately 260,000 units in May and June 2007. Older handset models, such as the IP1000, A1000 and others continue to maintain a stable sales volume.

Gross profit increased RMB165.9 million from RMB146.3 million for the second quarter of 2006 to RMB312.2 million for the second quarter of 2007. The increase was mainly attributable to the gross profit contribution from the sale of CECT-branded mobile phone handsets.

Gross profit for CECT-branded handsets was RMB283 million (US$37.2 million) in the second quarter of 2007, or 33.5% of revenues, which was an increase from a gross profit of RMB115 million, or 18.2% of revenues in the second quarter of 2006.

The increase in gross profit and the improvement in gross margin were primarily due to the increase in sales of higher-margin handset products. In addition, the sale of the new CECT-branded C2000 model handsets through a new TV infomercial arrangement also contributed to the increase in the Company's gross profit. Under this new arrangement, the Company sells its handsets to the infomercial company at a higher price, but in return, the Company bears the airtime and logistics costs.

Included in the operating expenses were share-based compensation of RMB15.6 million (USD2.1 million) and amortization of acquired intangible assets of RMB6.3 million (USD0.8 million).

Share-based compensation related to XING's subsidiary Qiao Xing Mobile Communication Co., Ltd., (QXMC) which holds a majority stake in CECT. Management is still in the process of assessing the value of ordinary shares that were valued by an independent appraiser for the purpose of determining the share-based compensation expenses associated with the share options to purchase shares of QXMC that were granted on March 19, 2007 by QXMC and which remain unexercised as of June 30, 2007. Given the preliminary nature of the estimates, the actual share-based compensation expenses for the second quarter of 2007 may be materially different from management's current expectations.

Amortization of intangible assets related to the intangible assets of CECT acquired in the acquisition of 65% equity interest in CECT by QXMC on February 8, 2003 and the acquisition of 20% equity interest in QXMC by XING on November 30, 2006.

Recent Development and Outlook

Encouraged by the success of direct sales via infomercials as a new distribution channel, CECT, a major subsidiary of the Company in the mobile phone handset business, recently signed an agreement with Bei Dou Communication and Equipment Company Limited to gain access to the largest Internet sales platform for mobile phones in China.

CECT is also looking forward to the launch of several new innovative products. These include the BT-30 that features a built-in analog TV, which will allow users to access TV anywhere and is expected to see great demand ahead of the 2008 Olympic Games in China. Overall, CECT's ultra-long standby models still uniquely position itself in the domestic market. We believe that CECT's basic ultra-long standby phones, along with newer models with upgraded features, will remain a key driver of CECT's growth in the coming quarters.

The Company believes that the second half of 2007 would see some growth in its subsidiary Huizhou Qiao Xing Communication Industry, Ltd. (HZQXCI)'s economy mobile phone handset business, following adjustments in HZQXCI's mobile phone product portfolio and its related research and development and distribution network.

Driven by fast growth in exports, which has recently been at the pace of about 40% year-on-year, and more large-volume orders from telecommunication operators, XING'S indoor phone business is set to prosper in 2007. Recently, HZQXCI has finalized the arrangement to export indoor phones to one of the world's largest telecommunication operators. The first shipments are expected to take place before the end of the third quarter of 2007.

About Qiao Xing Universal Telephone, Inc.

Qiao Xing Universal Telephone, Inc. is one of China's largest manufacturers and distributor of telecommunications products in China. QXUT's product portfolio includes telecommunications terminals and related products, including fixed wireless phones, VoIP telephones, mobile handsets, PDAs and consumer electronic products, including MP3 players, cash registers and set- top-box products. The Company primarily conducts its business through its operating subsidiaries CEC Telecom Co., Ltd (CECT), and Huizhou Qiao Xing Communication Industry Co., Ltd (HZQXCI), a company engaged in R&D and distribution of indoor telephone sets and economy mobile phones under the COSUN brand. The Company Group has built a strong distribution network comprised of more than 5,000 retail stores throughout China and has established partnerships with major retailers in Europe, North America and Latin America, including Bellsouth and Wal-Mart. For more details, please visit http://www.cosun-xing.com .

Safe Harbor Statement

This announcement contains forward-looking statements, as defined in the safe harbor provisions of the U.S. Private Securities Litigation Reform Act of 1995. In some cases, these forward-looking statements can be identified by words or phrases such as "aim," "anticipate," "believe," "continue," "estimate," "expect," "intend," "is /are likely to," "may," "plan," "potential," "will" or other similar expressions. Statements that are not historical facts, including statements about Qiao Xing Universal's beliefs and expectations, are forward-looking statements. Forward-looking statements involve inherent risks and uncertainties. A number of factors could cause actual results to differ materially from those contained in any forward- looking statement. Information regarding these factors is included in our filings with the Securities and Exchange Commission. Qiao Xing Universal does not undertake any obligation to update any forward-looking statement, except as required under applicable law. All information provided in this press release is as of September 5, 2007, and Qiao Xing Universal undertakes no duty to update such information, except as required under applicable law.

For further information, please contact:

Rick Xiao
Tel: [phone]
Email: [e-mail]


Source: Qiao Xing Universal Telephone, Inc.

[Diva]

Uppps ... es geht hoch ... was steht an????










es dankt


Diva

[Diva]

Uppps ... es geht hoch ... was steht an????










es dankt


Diva

[lion67]

AP
Qiao Xing Revises 2Q Income Higher
Monday September 17, 10:57 am ET

Qiao Xing Revises 2nd-Quarter Profit Higher on 1-Time Gain From Equity Interest Buy

NEW YORK (AP) -- Chinese cell phone maker Qiao Xing Mobile Communication Co. said Monday an acquisition of equity interest in June added special items to its previously reported second-quarter earnings.

Including the gains, Qiao Xing earned 198 million yuan ($26 million) during the quarter, compared with net income before special items of 169 million yuan ($22.2 million).

Per-share earnings were 4.13 yuan (54 cents). Before items, earnings were 3.53 yuan (46 cents) per share.

Qiao Xing said its previously released financial results for the second quarter were preliminary because a third party valuation was needed to account for an acquisition. The company acquired an additional 3.14 percent equity interest in its subsidiary, CEC Telecom Co., in June.

Shares rose 13 cents to $7.89 in morning trading. The stock has traded between $6.92 and $12.45 in the past 52 weeks.

[Diva]

Antwort auf Beitrag Nr.: 31.636.833 von lion67 am 17.09.07 21:03:19

DANKE

[Diva]

Trendwende???




waere klasse

[Diva]

Antwort auf Beitrag Nr.: 31.644.413 von Diva am 18.09.07 14:49:36

scheint so ....

[Diva]

Antwort auf Beitrag Nr.: 31.693.322 von Diva am 21.09.07 21:04:16

hach ... was das gerade gut tut ...

[Diva]

Antwort auf Beitrag Nr.: 31.636.833 von lion67 am 17.09.07 21:03:19

:O

Jetzt hat es aber lange gedauert bis ich auf die Idee kam, mir mal das mit dem KGV genauer anzusehen ....

2tes QU. >>> 0,54 Dollar .... bei aktuell ca. 11,50 Dollar ergibt ein KGV von ca. 6 auf das Jahr gesehen


Oder habe ich da irgendwo einen Denkfehler drin ... schaetze NEIN ... Schulter klopf ...

Wir koennten demnach bald wieder das Jahreshoch bei ca. 19 Dollar wieder sehen ...

IMHO natuerlich ... Meinungen erbeten


regards

Diva

[boerseaugsburg]

Antwort auf Beitrag Nr.: 31.709.148 von Diva am 23.09.07 15:11:51

die wachstumrate liegt bei 40 % und nächstes jahr ist olympia in china.

ein kursziel nenne ich keines mehr, aber die amis scheinen dahinter gekommen sein, dass hier irgendwie eine perle schlummert. schau dir mal eine bidu an - die liegt bei 284 usd. und hat in den letzten wochen lockere 50 % zugelegt. vergleiche die beiden einmal.

happy trade

[Diva]

Antwort auf Beitrag Nr.: 31.715.651 von boerseaugsburg am 23.09.07 22:46:00

Hallo BA,

ich meine es nicht als Kursziel ... ich meine es rein unter KGV-Blickwinkel ... ... bei 20 Dollar haetten wir ein KGV von ca. 10 ... rein theoretisch natuerlich ... bei XING kann man sich da nie sicher sein ....

Bei Kurszielen tummeln sich die Amis .... 60 Dollar naechstes Jahr und so ... aber wir wissen ja, die spinnen

cu

Diva

[Reiners]

Antwort auf Beitrag Nr.: 31.636.833 von lion67 am 17.09.07 21:03:19

Kann es sein, das Ihr die Tochter mit der Mutter verwechselt ?

Ich hoffe Ihr seid bei der Tochter Qiao Xing Mobile Communication (Kürzel QXM) investiert und nicht bei der Mutter Qiao Xing Universal Telephone (Kürzel XING)

Es gab im May 2007 ein Spin-off, vielleicht hat das der eine oder andere noch nicht mitbekommen.

[Diva]

Antwort auf Beitrag Nr.: 31.826.577 von Reiners am 03.10.07 07:44:00

Hallo Reiners,


ich habe es nicht mitbekommen!!!!


Was heisst "spin off" ...

und muessten dann nicht Mutter und Tochter im Depot sein????


Fragen ueber Fragen, kannst Du nochmal helfen??

es dankt


Diva

[Reiners]

Antwort auf Beitrag Nr.: 31.845.183 von Diva am 04.10.07 17:53:29

Die Tochter heißt Qiao Xing Mobile Communication (Kürzel QXM) und bei der sollte man investiert sein, da unter Ihr CETC, also die Handyproduktion hängt.

XING als Mutter hält zwar 61,33% an QXM, aber lieber bei QXM direkt investieren.


Ich empfehle unbedingt den Thread zu Qiao Xing Mobile Communication von MFC500 mal anzuschauen.

Unterbewertete Wachstumsaktie [Thread-Nr: 1130955]

Thread: Unterbewertete Wachstumsaktie

[Reiners]

Antwort auf Beitrag Nr.: 31.845.183 von Diva am 04.10.07 17:53:29

Achso, Spin-off ist so eine Art "Abspaltung" (z.B. eines Geschäftsbereiches von der Mutter)

[Diva]

Antwort auf Beitrag Nr.: 31.846.743 von Reiners am 04.10.07 19:47:10

herzliches DANKE!!! und an Reiners

Koennen die einfach einen Teil einer Firma abspalten, ohne die Akionaere zu entschaedigen??? kommt mir etwas seltsam vor

Oder muessten dann nicht eigentlich Mutter und Tochter im Depot sein????

Ich habe den anderen thread mal auf die watchlist genommen und hoffe, dass ich die naechste Woche dazu komme, alles mal nachzulesen

tja, man lernt nie aus




Diva

[Reiners]

Antwort auf Beitrag Nr.: 31.858.591 von Diva am 05.10.07 17:19:50

"Koennen die einfach einen Teil einer Firma abspalten, ohne die Akionaere zu entschaedigen??? kommt mir etwas seltsam vor

Oder muessten dann nicht eigentlich Mutter und Tochter im Depot sein???? "

Naja, der Mutter gehören ja noch 61,3% der Tochter. Also bist Du indirekt also doch an der Tochter QXM beteiligt. Aber eben verwässert mit 61,3% und nicht mit 100%.

Deshalb lieber direkt an der Tochter beteiligen. Dann ist man mit fast 100% an der Handyproduktion CECT beteiligt.

[boerseaugsburg]

Antwort auf Beitrag Nr.: 31.858.591 von Diva am 05.10.07 17:19:50

hi diva,

xing hält rund 32 mil shares von qxm derzeitger wert rund 300 mil usd.

dann die frage:

wie werden die zahlen einer qxm bei einer xing bilanziert.

[boerseaugsburg]

und eine xing hat eine derzeitge MK von rund 305 mil usd.

ich denke mal krass unterbewertet.

[Diva]

Antwort auf Beitrag Nr.: 31.861.680 von boerseaugsburg am 05.10.07 20:56:17

okay ...herzliches DANKE an Euch beide!!!!!!


jetzt bin ich etwas beruhigt





BA bist Du Augsburger???? Ich bin da ab ca. Mitte Oktober .... hmmmm ....

[boerseaugsburg]

Antwort auf Beitrag Nr.: 31.864.487 von Diva am 06.10.07 11:50:39

hi diva kleiner nachtrag:

http://finance.yahoo.com/q/ks?s=XING

cash 147 mill
anteile an QXM 32 mill zu ca. 10 usd per share = 320 mill

MK aktuell 306 mill

mit 10,35 usd und ca. 30 mill aktien ist eine XING m. e. krass unterbewertet.

[Reiners]

Präsentation heute von QXM

http://www.investorcalendar.com/IC/ClientPage.asp?ID=120836&…

Kam ganz gut an. +14%

Notiert mittlerweile über der Mutter XING

[Reiners]

QXM zieht gerade XING schön mit hoch.

[Reiners]

Sehr ausführlicher und noch recht aktueller Report aus August 2007.

Unbedingt lesen, wer Ihn noch nicht gelesen hat.


http://www.jmdutton.com/research/xing/reports/xing_report_08…



Persönliches Fazit könnte sein, jetzt von der Tochter in die Mutter zu wechseln. (zur Zeit 2 USD günstiger - 11,84 USD XING vs. 13.84 USD QXM)

Hinweis: XING hält 32 Mio Shares an QXM, hat aber selber nur 29,6 Mio ausstehend. XING ist vom Kurs aber 2 USD niedriger. Das restliche Geschäft von XING ist hierbei mit 0 bewertet, hat laut Analyse aber auch noch Potential.

[Reiners]

Aus den Yahoo Board von XING - Ohne Gewähr - Freie Übersetzung aus dem chinesischen.

---------------

Foreign Cell Phone Manufacturers will gradually disappear

24-Oct-07 01:17 am It's basically an interview with CECT's CEO. He was making a bet that only three big boys, Nokia, Motorola, and Sony Ericsson are going to be around 5-7 years later. The other smaller, oversea players are going to be overdrawn in terms of resource due to the cost of goods. CECT, unlike the overseas company, is not interested in massive production but focuses in making profits. Chinese cell phone manufacturers will eventually take over the cell phone market.

[Reiners]

Foreign handset lost due to domestic brands overdraft
------------------------------------------------------


Who can know in advance on the IBM seven years in 2005 to sell its money tree? Brand-name phone companies in the next 5-7 years due to overdraft and the brand lost the Chinese market. This is the owner of three overseas listed company, China's largest mobile phone family business Qiao Xing Group executive president of the National bold predictions.

With foreign brands in China's vitality will be from 5 to 7 years overdraft

　　"Motorola, Nokia, Samsung, Sony Ericsson and other brands to the global strength of the Chinese market, they smashed a huge asset in China is ripe Run nearly transparent industries in the market, the proportion of their income and output will gradually allow investors disappointed, as the IBM PC division to the industry Lenovo, the phone giant today will end in 5-7 years overdrawn on its China profits. "This is the executive director of National Qiao Xing Group on the future of domestic mobile phone industry for some time pattern of judgment.

National said: Although foreign handset makers have a strong brand, but several major current state of development of foreign brands, in addition to Nokia, Motorola, Sony Ericsson and Samsung's market share has been shrinking, foreign brand new variable length listed cycle, slowing the pace of research and development functions, All these signs indicate that these seemingly powerful foreign phone companies are overdrawn their brands, but Chinese consumers, "love" will not change the habits of, foreign-funded enterprises rely on the brand overdraft growth not last long. At the same time, second-generation Chinese mobile phone manufacturers in the brand new forces, the technology research and development, marketing means lot more. Domestic brands such as growth enough to contend with foreign brands, the profits of foreign mobile space will be dwindling and when it sold in the Chinese market profits insufficient to support the globalization of the scale of brands, foreign brands will inevitably give way to the domestic brands.

Qiao Xing has assumed responsibility of the mobile phone brand of National Integration, said: "Our products have high-end models with the function of performance, but only half of the market price of foreign goods in the space of guaranteed profits at the same time, Qiao Xing impact of foreign brands phone to the high-end market. Now foreign brands are significant old state, this time in seeking a breakthrough on the marketing mode, captured strategic heights, will certainly expedite the foreign mobile phone brands barriers collapsed. "

Not only new listing cycle far more than domestic brands, the same functional class products, the market price is almost twice the domestic brands, and to the success in the market, foreign brand owners of these advantages domestic brands seems to be very difficult to guarantee sufficient profits space into core technology research and development and design. Not only that, the Chinese enterprises do not have the time nor money to wait for mature brands, Qiao Xing is no exception, the only side in the deal, three-market price war, while improving brand image, in the high-end consumer group training.

Independent research and development strength and rapid market reaction is the guarantee of success

National that there is no core competitiveness, independent research and development strength is not strong, the development of new products, lack of independent innovation, management innovation and industrial innovation is the chronic problems of Chinese mobile phone, and the resulting with Motorola, Nokia and other foreign brands in the competition lost its right to speak. He stressed that many Chinese mobile phone manufacturers one-sided pursuit of short-term profits and brand recognition, do not have the advantage of technology and market circumstances blindly expand production, but also caused a large number of enterprises ruined one of the reasons.

National said: "When just beginning to the expansion of domestic mobile phone was busy and build factories, Qiao Xing think that the scale of the Chinese mobile phone production time yet that if foreign brands do not have to contend with the core competitiveness can not be a long distance away. We CECT work focus on R & D and brand mold, and research and development capabilities of the product updates adjusted growth accelerated, because no single goods blindly expand production, CECT has weathered the freeze period. "mobile phone industry consensus is that the lack core technologies so that China may have to be reduced to" economic colony ", and have not yet been able to control the core technology of Chinese mobile phone R & D so the loss of a black hole. Today, Beijing, Shanghai, Shenzhen, Beijing four to five phone support Qiao Xing become a research and development center three mobile phone brands, the core strength.

"Qiao Xing has its own R & D institutions and has sufficient funds listed, which can be self-sufficient enterprise adjustment process and the pilot scale production, which is CECTC1000 products such as a star, is fundamental to the basis of future Qiao Xing bigger." National said.

Despite the prospects of China's 3G is still not clear, but Chinese mobile phone is full of anticipation. “"3G phones initial phase space profit greatly, while the 3G technology market entry doors relatively high threshold can be removed swap most of the non-technology advantages of Chinese mobile phone brands. Now Qiao Xing has already possessed the development of 2.5G and 3G or 4G technology. "

　 National introduced: "Maybe in the 2008 Olympics on the playing field, we will see a lot of the audience raised hands of Qiao Xing mobile phone use it when the telescope, which is being launched against our Olympic feature phones; Perhaps more and more the President beauty will be more frequent use of Qiao Xing mobile phones, not just use it called, it is of carrying the data suggested that the weight loss may function better by their favor. Check with the phone functions will be available next year. "These upcoming products from the National called the" R & D genius "R & D team, C1000 long standby Wang's success , a large part attributed to their success.

Brand-name phone companies in the next 5-7 years due to overdraft and the brand lost the Chinese market.

[Reiners]

Important points from the article (Science & Technology Daily):

1. XING's Cosun and CECT owned 3G and 4G mobile phone technologies.

2. Cosun is now pioneering "Multi-Functional Cell Phones" featuring "Telescope" phone, "Bill validator" phone, "Weight-loss indicator" phone, and "Olympic games" phone! All those breakthrough models will be out early next year!

[Reiners]

Die Amis sind ja sehr interessiert an XING und QXM.

Ich verstehe nicht, das sich für so einem aussichtsreichen Wert, sich kein Mensch in Deutschland interessiert.

Anscheinend auch komplett an den Börsenbriefen und Börsenzeitschriften vorbeigegangen.

Dabei ist China doch zur Zeit in aller Munde, und zudem XING/QXM mit einer halben Mrd USD Börsenwert nicht gerade klein.

[Diva]

Antwort auf Beitrag Nr.: 32.139.127 von Reiners am 24.10.07 20:21:43

Hallo Reiners,


bin sehr wohl stark interessiert .... nur noch auf I-Net-Cafes angewiesen ....

keine Zeit für Recherche ....

suche festes Domizil in Mannheim .... und das frisst Zeit ....


ansonsten 2,5k long in XING .... steuerfrei ...

[Reiners]

Zahlen der Mutter sind raus. Kommen sehr gut an.

http://biz.yahoo.com/prnews/071026/cnf023.html?.v=5

Mr. Wu Rui Lin, Chairman of XING, said, "Looking into the second half of the year, I feel confident that our business will even be better than the first half, with the mobile phone business segment, which consists of the CECT-branded and the COSUN-branded handsets, driving the growth and the profitability of the Company.

[Reiners]

Mit "Mutter" meine ich QIAO XING UNIVERSAL TELEPHONE

[Reiners]

Rating: Strong Buy
10/29/2007

Qiao Xing Announces Impressive Second Quarter Financial Results; Reiterates Strong Speculative Buy Rating

Qiao Xing Universal Telephone (Nasdaq: XING) announced on October 26, 2007 its 2Q07 financial results. Back on September 5, the Company had already announced estimates of certain key financial data for 2Q07 and the market had been waiting for a long time for the detail financial figures. In short, the 2Q07 financial results were quite impressive, with revenue of $130 million and a gross margin of 30.8%, well ahead of our estimate of 22.6% in our initial report released on August 21. The significant increase in gross margin was mainly due to higher sales volume of higher-margin new CECT-brand handset products. Excluding non-cash items, EPS for 2Q07 were $0.55, significantly higher than our estimate of $0.34.

On the dark side, the 2Q07 financial results announcement did not elaborate further on whether such improvement in gross margin can be sustained in the coming few quarters or provide any hints or guidance on the revenue and profit outlook in the second half of 2007.

Meanwhile, the Company did not provide any comparison of revenue, operating profit, breakdown of operating expenses and net income with previous quarter and/or the quarter in the corresponding period last year.

In view of the much higher gross margin achieved in 2Q07, more high-margin CECT handset are coming on stream, significant improvement in economy mobile handsets under the COSUN brand and indoor phone business in the second half of 2007, we see the need to upgrade our net income forecast for the third and fourth quarter of 2007. We are in the process of revising our assumptions on revenue, margins and expenses to fine-tune our net income and EPS forecasts for 2007 and 2008 with an upward bias and will release more detail in our update report in the coming few days. Current valuation at less than 5x 2008 estimated PE is extremely attractive.

Our 12-month target price of $19.60 is under review and is likely to be raised along with an expected upgrade in 2008 EPS forecast. We maintain our Strong Buy rating on the stock

[gans35]

Antwort auf Beitrag Nr.: 32.195.384 von Reiners am 29.10.07 20:50:38

Schau dir mal den Chart der letzten 9 od. 12 Monate an, dann kommst du eher zu folgender Aussage:
Die Botschaft hör ich wohl, allein mir fehlt der Glaube .....!
Die Entwicklung der letzten Tage nach dem Quartalsbericht ist doch sehr aussagekräftig für die Zukunft.

[Reiners]

Antwort auf Beitrag Nr.: 32.199.150 von gans35 am 30.10.07 09:44:37

Schaue dir mal bitte die Tochter an. Qiao Xing Moblie (QXM)

Hier hat der Kurs schön konsolidiert, der Chart sieht weiterhin gut aus.

[gans35]

Antwort auf Beitrag Nr.: 32.199.262 von Reiners am 30.10.07 09:52:02

Ich überlege mir schon, ob ich nicht alle Aktien von Xing in die Tochter Qiao Xing Mobile tauschen soll, denn entgegen deiner Aussage

\"Zahlen der Mutter sind raus. Kommen sehr gut an.\"

sind die Zahlen bisher nicht gut angekommen. Der Kurs geht seither nur nach Süden. Am Tag vor dem Quartalsbericht habe ich noch einige China Sunergy in XING getauscht und ich dachte, das wäre eine gute Entscheidung gewesen, denn der Kurs von XING ging vorbörlich in NY stark nach oben. Leider viel alles in sich zusammen und die Aktie bewegte sich dann sogar noch ins Minus. CSUN hingegen stieg gestern in NY um über 26%!! So etwas ist natürlich schon ärgerlich. Aber das Problem zwischen Kurs Mutter und Kurs Tochter kenne ich zur Genüge von anderen Firmen.

[Reiners]

Antwort auf Beitrag Nr.: 32.200.554 von gans35 am 30.10.07 11:11:10

Es wird spekuliert das der Kurs von einem großen Anteilseigner bis Ende Oktober gedrückt wird, damit für die neuen Aktien nicht 13 USD sondern ca. 11,5 USD gezahlt werden müssen. Bei über 2 Mio Aktien macht das schon Sinn.

Der Spuk sollte dann spätestens 1 November vorbei sein.

Warten wir mal 2 Tage, ob an der These was dran ist.

[Midas2000]

Antwort auf Beitrag Nr.: 32.199.262 von Reiners am 30.10.07 09:52:02

Hallo Reiners,

QXM gefällt mir wirklich gut, danke nochmal für den Tip.
Die Unterbewertung ist ähnlich frappierend wie bei Broad Intelligence, aber sie liefern Quartalsberichte und das Geschäft läßt sich m.E. auch von uns besser einschätzen.

Ich werde demnächst eine erste Position kaufen.

[Reiners]

"Ich überlege mir schon, ob ich nicht alle Aktien von Xing in die Tochter Qiao Xing Mobile tauschen soll, denn entgegen deiner Aussage"

Ich habe gestern auch den Rest in die Tochter getauscht.

Vorallen weil es jetzt bald nicht mehr den 8% Vorteil der Aktienzahl bei der Mutter gibt. Sie hat dann neu 32 Mio Aktien ausstehend und nicht mehr 29,6 Mio. Und genau 32 Mio Aktien hält sie auch an der Tochter.

Vorteil der Tochter ist das sie deutlich transparenter ist und auch zeitnah reportet (im Gegensatz zur Mutter) und auch keine Rechtsstreitigkeiten hat.

[Midas2000]

Antwort auf Beitrag Nr.: 32.200.744 von Reiners am 30.10.07 11:24:12

Vorteil der Tochter ist das sie deutlich transparenter ist und auch zeitnah reportet (im Gegensatz zur Mutter) und auch keine Rechtsstreitigkeiten hat.

Das war auch der Grund, warum ich mich mit der Tochter angefreundet habe!

[gans35]

Antwort auf Beitrag Nr.: 32.200.744 von Reiners am 30.10.07 11:24:12

Kann mich Deiner / Eurer Meinung nur anschließen und werde deshalb auch tauschen.
Gruß gans35

[Reiners]

Sieht wirklich so aus. als wenn der Kurs diese Tage nicht über 11 USD gehen soll.

1.November sollte hoffentlich der Spuk zu ende sein, wenn der Bezugspreis für die neuen Aktien festliegt.

[boerseaugsburg]

Antwort auf Beitrag Nr.: 32.200.664 von Reiners am 30.10.07 11:18:55

meinst du xing:

weshalb kauft er dann die mutter und nicht die tochter,

wenn deiner meinung nach die tochter eine bessere performance hinlegen wird

[Reiners]

Antwort auf Beitrag Nr.: 32.208.217 von boerseaugsburg am 30.10.07 18:55:26

Xing (also die Mutter) gibt neue Aktien aus. Bzw. sind das vielmehr Optionen die ein Großaktionär ausübt. Diese Vereinbarungen sind schon älter und hat mit der Tochter QXM nix zu tun.

Preis der Optionen 13 USD, wenn jedoch Kurs unter 13 USD Ende Oktober dann auch weniger als 13 USD. So ganz wurde das im US-Board nicht klar.

Deshalb die Spekulation das es ab 1.11. wieder aufwärts geht.

Ich habe das aber auch nicht ganz verstanden. Es gab unterschiedliche Statements wie der Ausgabepreis der Optionen berechnet wird.

[Midas2000]

Wie wir heute leider einmal mehr vorgeführt bekommen, schützen erhebliche Unterbewertungen (wie bei QXM nach allem was wir wissen gegeben) leider nicht vor erheblichen Kursabschlägen.
Und leider kann man nie ausschließen, daß einem irgendwann ein fundamentaler Grund für eine vorher nur scheinbare Unterbewertung nachgeliefert wird.

Dennoch werde ich den Kursrückgang morgen wohl zum Aufstocken nutzen. Noch ist meine Position in dem Wert ja gering.

[Reiners]

Antwort auf Beitrag Nr.: 32.243.171 von Midas2000 am 01.11.07 22:22:53

Spannend werden die Zahlen von QXM zum 3Q 2007 Mitte November.

Wenn wir hier sogar 60 cent sehen, dann hui hui hui

[Reiners]

Qiao Xing Universal Telephone, Inc. Announces Sale of Common Stock
Friday November 2, 7:00 am ET


HUIZHOU, Guangdong, China, Nov. 2 /Xinhua-PRNewswire-FirstCall/ -- Qiao Xing Universal Telephone, Inc. (Nasdaq: XING - News) announced today that it has obtained a binding commitment from an investor to purchase 1,300,000 shares of its common stock at a price of $11.80 per share, for gross proceeds of $15,340,000. In addition, the investor will receive 4 year warrants to purchase up to 408,461 shares of common stock at $13.00 per share. The shares and warrants being offered are the last ones under the Company's effective but soon-to-expire shelf registration statement previously filed with the Securities and Exchange Commission. With this last offering, the Company will have taken down from the shelf practically the total amount of the securities registered.


http://biz.yahoo.com/prnews/071102/cnf010.html?.v=27

[ROTERBULLE]

Antwort auf Beitrag Nr.: 32.253.573 von Reiners am 02.11.07 12:53:13

heute gehts hoch ....

[Eitzen]

Oder es passiert nichts im gegenwärtigen Marktumfeld bzw. es geht sogar runter. Wie auch immer: Time to buy...

Danke für den Hinweis, Reiners.

[Midas2000]

Hier im Thread ist es ja sehr ruhig geworden.
Cash-bereinigt haben wir mittlerweile, auf Basis Q2, ein KGV von 3.
Kann sich das hier irgendjemand vernünftig erklären?

[Diva]

Antwort auf Beitrag Nr.: 32.364.098 von Midas2000 am 09.11.07 16:54:12

ich kann es mir nicht erklären .... aber schau Dir mal den Gesamtmarkt an .... zum Ko...

[Midas2000]

Antwort auf Beitrag Nr.: 32.364.410 von Diva am 09.11.07 17:13:00

@Diva/All,

wie schätzt Ihr denn die Saisonalität im Handygeschäft in China ein?
Normalerweise würde ich vermuten Q1 und Q4 sind am stärksten, Q2 und Q3 etwas schwächer.
In Europa/USA ist es so, da spielt das starke Weihnachtsgeschäft in Q4 eine Rolle, und die Sommerflaut Q2 und vor allem Q3.
Erstaunlicherweise haben wir bei QXM aber einen erheblichen Schub von Q1 auf Q2 gesehen, bei Umsatz und Gewinn?
Gab es da vielleicht einen Sondereffkt? Ich meine damit nicht die im Bericht genannten Sondereffekte auf den Gewinn, sondern hinsichtlich des Umsatzes.
Sieht jemand Grund zu der Annahme, Umsatz und (um Sondereffekte bereinigter) Gewinn in Q3 könnten im Vergleich zu Q2 deutlich rückläufig sein?

[boerseaugsburg]

Antwort auf Beitrag Nr.: 32.364.098 von Midas2000 am 09.11.07 16:54:12

das kann ich dir schon erklären:

xing hatte die letzten jahre den wahrheitsgehalt seiner news nicht ganz so ernst genommen.

das vertrauen fehlt hier einfach (noch)

meine einschätzung

[Reiners]

http://www.duttonassociates.com/research/xing/reports/xing_r…


Also die Analysten gehen jetzt in Ihrem Update von einem Gewinn von 2,31 USD in 2007 für XING aus.

Das ist bei einem aktuellen Kurs von 9,00 USD ein KGV 2007 von 3,9.

Das ist spottbillig für einen chinesischen Wachtstumswert.

Alles etwas verwunderlich, da wir nicht von einer kleinen Pommesbude ausgehen, sondern vom 3 oder 4 größten Handyhersteller Chinas, und zudem an einem seriösen Börsensegment gelistet sind, mit entsprechender Börsenkapitialisierung. QXM z.B. hat immerhin fast eine halbe Mrd USD Börsenwert.

Ich gehe sogar von guten Zahlen im 3Q aus, weil Wu schon angekündigt hat das das 2 Halbjahr wohl noch besser laufen wird als das erste Halbjahr.

Der Gesamtmarkt ist zur Zeit eben sehr mies. Einfach mal auf Freitag warten, dann kommen die Zahlen zum 3Q bei QXM.

[Midas2000]

Antwort auf Beitrag Nr.: 32.365.971 von boerseaugsburg am 09.11.07 18:44:26

@boerseaugsburg,

ich nehme an, damit meinst Du die Restatements der Mutter?
Mit der habe ich mich kaum befaßt, aber schon mitbekommen, daß die ihre Zahlen der letzten Jahre korrigieren mußten.
Aber das waren ja vom Volumen eher kleinere Korrekturen, da scheint es schon plausibel, daß das aufgrund von Fehlbuchungen war und nicht etwa bewußte Irreführung von Anlegern, oder?

[Midas2000]

Antwort auf Beitrag Nr.: 32.367.374 von Reiners am 09.11.07 20:11:13

@Reiners,

Der Gesamtmarkt ist zur Zeit eben sehr mies.

Ja, so fühlt es sich zumindest an!
Viele Small- (und wie hier z.T. auch Midcaps) hat es dieses Jahr ohne erkennbaren (oder mit zu gering erscheinendem) Grund ziemlich zerbröselt.
Bei den Indizes sieht das ganz anders aus. Die haben aktuell nur leicht korrigiert und sind seit Jahresanfang deutlich im Plus.
Das gilt für USA und - erheblich stärker - für China.
Das ausgerechnet in USA gelistete Chinawerte so gar nicht laufen wollen (von kleineren/mittleren US-Techwerten ganz zu schweigen), das ist wirklich merkwürdig.

[Reiners]

Antwort auf Beitrag Nr.: 32.368.205 von Midas2000 am 09.11.07 20:41:51

Das Gute ist, dass es auch genau so schnell wieder rauf gehen kann.

[boerseaugsburg]

Antwort auf Beitrag Nr.: 32.367.996 von Midas2000 am 09.11.07 20:34:18

nein, das war nicht die korrektur der zahlen, das liegt schon länger zurück.

die glaubwürdigkeit dieses ceo`s wu wurde hier stark in frage gestellt.

[Midas2000]

Antwort auf Beitrag Nr.: 32.368.889 von boerseaugsburg am 09.11.07 21:07:53

@boerseaugsburg,

könntest Du vielleicht kurz zusammenfassen, um was es da ging? Und wie Du das ganze interpretierst? Bezweifelst Du seine Seriosität deswegen?

[Reiners]

Antwort auf Beitrag Nr.: 32.370.104 von Midas2000 am 09.11.07 21:52:43

Viele Amis sind ziemlich sauer auf Wu, lies mal im Yahoo Board "XING" nach.

Das geht glaube ich schon seit Jahren so bei XING

An einem Börsensegment wie die Nasdaq, sind die Amis was anderes gewöhnt. XING's IR/PR läst wohl schon seit langem zu wünschen übrig.

Der letzte "Aufreger" waren die Zahlen zum 2 Quartal. Sie hatten wohl keine Vergleichzahlen. Bilanzzahlen fehlten, usw.
(Sollen wohl jetzt Mitte der nächsten Wochen mit den Halbjahreszahlen kommen).

Weiter regt auf, das nie ein Ausblick gegeben wird, für das Folgequartal. Das schlimmste war wohl, dass die Zahlen erst so spät kamen.

Die Tochter (QXM) macht es da wesentlich besser, zeitnah und bis jetzt auch akurat.

XING (und übrigens auch einige andere chinesische Firmen) haben noch nicht verstanden, dass wenn man an der Nasdaq oder NYSE gelistet ist, mehr verlangt wird als wenn man in Shenzen oder Shanghai gelistet ist.


The stock has been punished for its deficiency in corporate transparency and weak investor relations for quite some time.We do not see further deterioration in corporate transparency and investor relations, and any changes would be on the better side.



Kursziel deshalb "nur" 20.34 USD
More upside potential can be expected through PE expansion, should corporate transparency and investor relations show improvement in the future


-----------
Meine Hoffnung ist die Tochter, die anscheinend in dieser Sache es etwas besser macht. Auch die Goldman & Sachs Konferenz der Tochter Mitte nächster Woche läßt hoffen. Bei der letzten Konferenz vor ein paar Wochen, ging es ja auf in der Spitze 15,37 USD.

Die nächste Woche wird sehr spannend für QXM (und damit auch XING)

[Reiners]

Bei EBAY werden schon fleißig CECT-Handys angeboten und auch verkauft.

http://search.ebay.de/search/search.dll?from=R40&_trksid=m37…

[Reiners]

Antwort auf Beitrag Nr.: 32.370.104 von Midas2000 am 09.11.07 21:52:43

Midas / Eitzen am besten posten wir im Hauptthread der Tochter weiter. Der ist aktueller und übersichtlicher. Dort posten auch MFC500 und stupidgame.

Thread: Unterbewertete Wachstumsaktie

[Reiners]

Antwort auf Beitrag Nr.: 32.376.300 von Reiners am 10.11.07 14:41:41

Achso sorry, die Einladungen gilt natürlich für alle anderen XING-Fans hier auch.

[Reiners]

Outlook

We estimate that for the second half of 2007, the shipment volume of mobile phone handsets would increase over 80%, and gross margin for the mobile phone business segment would improve significantly, compared to the same period of 2006. The volume of shipment of our COSUN-branded mobile phone handsets, which primarily target lower-end market, is expected to start a climb in the second half, owing to significant improvements made in research and development, distribution channels and after-sales service. As for our CECT- branded mobile phone business, it is expected to remain robust in the foreseeable future with continuous launches of creative and differentiated mobile phone handsets

[Midas2000]

Ich kopier mal meine Fragen zu Xing aus dem QXM Thread hier rein, damit wir das hier diskutieren können:

#164 von Midas2000 14.11.07 14:21:43 Beitrag Nr.: 32.423.464
Dieses Posting: versenden | melden | drucken | Antwort schreiben | QIAO XING MOBILE C



Folgende Antwort bezieht sich auf Beitrag Nr.: 32.423.299 von Midas2000 am 14.11.07 14:12:30
--------------------------------------------------------------------------------
Diese 262 Mio $ cash in ihrer Bilanz, ist da der Cash der Tochter mit reingerechnet?
Ich vermute schon, denn auf der Passivseite tauchen 131 Mio "minority interest" auf.


#163 von Midas2000 14.11.07 14:12:30 Beitrag Nr.: 32.423.299
Dieses Posting: versenden | melden | drucken | Antwort schreiben | QIAO XING MOBILE C



Folgende Antwort bezieht sich auf Beitrag Nr.: 32.423.013 von Reiners am 14.11.07 13:57:01
--------------------------------------------------------------------------------
Hallo Reiners,

wie verstehst Du denn folgende Aussage:

Basic earnings per share of common stock before and after extraordinary gain was RMB 21.53 (USD 2.83) and RMB 22.03 (USD 2.89) respectively.

Basic earnings per share of common stock would have been RMB 7.06 (USD 0.93), had certain non-cash income and expenses, which, in management's opinion, may not be indicative of the Company's core business operating results, been excluded.

Es gibt einen Gewinn mit und ohne Sondereffekt, vermutlich durch den Börsengang der Tochter.
Und dann gibt es - erheblichere! - Faktoren die vielleicht Sonderfaktoren sind?

Den Umsatz und den Rohertrag der 60 % Tochter übernehmen sie scheinbar komplett in ihre GUV.
Wo wird denn dann der Minderheitenanteil berücksichtigt?

Wachstum scheinen sie im zweiten Halbjahr bei Cosun noch mehr als bei CECT zu erwarten, insofern stellt sich natürlich die Frage, ob man auch noch etwas XING kaufen sollte!

[Reiners]

Kleine Rechnung (bitte selber nochmal nachrechen)


In der Meldung von heute.

Sales XING 1 Halbjahr 2007 1.857 Mio RMB 30,9% Steigerung zu Vorjahr. Also 1.419 Mio im 1 Hj 2006

Gesamtsales 2006 3.221 Mio RMB (siehe Dutton Report)
Also 2 Halbjahr 2006 1.802 RMB (3221-1419)

Jetzt wird eine min. 80% Steigerung der shipment volume im 2 Hj. 2007 heute angekündigt. Gehen wir mal davon aus das das auch min 80% mehr Sales bedeutet. Wahrscheinlich sogar mehr, da die Marge ja auch noch deutlich ansteigen soll "gross margin for the mobile phone business segment would improve significantly"

1.802 + 80% = 3.243 Mio RMB für das 2 Halbjahr 2007.

Das sind deutlich mehr als Dutton (2.584 Mio RMB) in Ihrem letzten Report gerechnet haben.


--------------------------------------------

Es könnte natürlich auch sein das die Preis je Handy gefallen und damit auch die Sales, nur müssen dann die Produktionskosten noch stärker gefallen sein, da sonst die Marge nicht hoch gehen würde.

[Reiners]

"Diese 262 Mio $ cash in ihrer Bilanz, ist da der Cash der Tochter mit reingerechnet?
Ich vermute schon, denn auf der Passivseite tauchen 131 Mio "minority interest" auf. "


Genau, es wird erst 100% reingerechnet und dann über minority interest auf der Passivseite korregiert.

[Reiners]

Irgendwie ist XING eine komische Aktie.

Anscheinend ist doch mehr Erde in der Vergangenheit verbrannt worden als ich dachte. Mehr als 80% Verkaufszahlenwachstum im 2 Halbjahr und Steigerung der Marge angekündigt und trotzdem kommt der Kurs nicht hoch.

Es sieht so aus, als wenn des Markt dem Qutlook nicht glaubt.

Anderes kann man sich das nicht erklären. Und nur Shortseller als Grund, da mir fehlt der Glaube.

Meinungen ?

[Eitzen]

Abwarten. Das Marktumfeld ist immer noch schwierig. Die Leute sind verunsichert.

Ich rechne hier gerade etwas herum, um zu entscheiden, ob man besser die Tochter oder die Mutter kaufen sollte. Kompliziert, kompliziert.

Momentan halte ich nur die Mutter.

Poste hier. Für mich gehören QXM und XING zusammen. Hier könnte es auch jetzt und in Zukunft Arbitragemöglichkeiten geben.

Eines ist mir bisher aufgefallen: Warum sind die Abschreibungen so unglaublich niedrig? Es handelt sich um ein Produktionsunternehmen.

[Eitzen]

Also nach meinen Kalkulationen sind Mutter und Tochter nahezu identisch bewertet.

Frage ist, ob bei dem bei der Mutter verbliebenen Brand noch etwas mehr herauszuholen ist. Auf der anderen Seite auch Litigation Risk.

Im Endeffekt sollte es egal sein. Ich werde die Tranchen aufteilen.

[Reiners]

Qiao Xing Universal Telephone: The Most Undervalued Chinese ADR

http://seekingalpha.com/article/54818-qiao-xing-universal-te…

[Eitzen]

Die Bewertung ist schon krass.

Wir reden hier ja nicht von einer kleinen Klitsche wie z.B. BI, sondern von einem gestandenen Unternehmen mit einer halben Milliarde USD Umsatz. In HK würde das Unternehmen mindestens drei mal so hoch bewertet sein.

Augen zu und durch. Ich rüste weiter auf.

[gans35]

Antwort auf Beitrag Nr.: 32.494.885 von Reiners am 20.11.07 14:49:22

Diese Statements der seekingalpha.com haben auf eine positive Kursentwicklung von Xing überhaupt keinen Einfluss gehabt. Im Gegenteil, nach jeder Meldung bzgl. Unterbewertung ging die Aktie weiter in den Keller. An der Börse wird die Kursfindung durch Angebot und Nachfrage geregelt. Wenn niemand kauft, dann kann der Kurs auch nicht steigen. Nun können wir uns fragen, weshalb kauft niemand (in der Mehrzahll), wenn die Gesellschaft solch eine glänzende Zukunft hat. Darüber kann man dann stundenlang philosophieren. In 1,2 od. 3 Jahren wissen wir ob der Markt oder seekingalpha.com richtig lag. Man sollte in jedem Fall vorsichtig sein, denn aus Quartalsgewinnen können in der Zukunft sehr schnell Quartalsverluste entstehen und dann sieht die Sache schon anders aus. Die Kursentwicklung gibt mir schon zu denken, denn, warum ist die Firma nicht in China oder Hongkong gelistet?

[Eitzen]

Ich tendiere immer mehr zur Muttergesellschaft, da mir die Cosun Story sehr gut gefällt.

Low-Budget Handys für die breiten Massen in China. Das klingt sehr vielversprechend.

Die Liquidität und Bekanntheit der Aktie ist zudem besser.

Außerdem bekommt man momentan das Cosun Geschäft fast umsonst dazu, da zukünftige Earningssteigerungen bei Cosun nicht mit eingepreist sind. QXM und Xing traden auf den gleichen Multiples (nach meinen Berechnungen sind bei einem Premium von knapp 15% über QXM beide Aktien gleich bewertet, ohne dann aber Cosun Earnings Steigerungen mit eingepreist zu haben).

[Eitzen]

Heute werde ich mal separat von meinen Long-Positionen QXM leerverkaufen und XING long gehen.

Sie notieren beide fast identisch. Der Unterschied sollte aber bei knapp 15% liegen.

[Midas2000]

Antwort auf Beitrag Nr.: 32.536.352 von Eitzen am 23.11.07 11:38:41

Der Unterschied sollte aber bei knapp 15% liegen.

Woran machst Du das denn fest? Cosun ist ja derzeit in einer Umbruchsituation, ich denke der Teil des Geschäfts ist fundamental kaum zu greifen.

[Eitzen]

Antwort auf Beitrag Nr.: 32.567.543 von Midas2000 am 26.11.07 11:37:34

Basiert auf den Bewertungskennzahlen des ersten Halbjahres auf Ist Basis (EV/EBITDA; EV/EBITA). Wenn man Cosun mehr zutraut, müßte das Premium der XING noch höher sein.

Freitag ist die Taktik aufgegangen. Es fällt auf, daß QXM deutlich volatiler ist als XING. Es könnte also noch öfter klappen.

[Reiners]

http://biz.yahoo.com/prnews/071127/cntu028.html?.v=11&printe…

Chance oder Risiko ?

Zweiter Geschäftsbereich soll aufgebaut werden.

Z.B. soll sich an einer Molybdenum Mine beteiligt werden

[Eitzen]

Antwort auf Beitrag Nr.: 32.581.181 von Reiners am 27.11.07 13:51:06

Nun ja,

Keine Ahnung, ob man das mehr als Chance oder Risiko einordnen sollte. Jedenfalls wird immer klarer, warum sie den Spin-off gemacht haben. Sie scheinen auf jeden Fall eine Menge Potential in den angestrebten Beteiligungen zu sehen.

Bin mal gespannt, wie die Amis die Nachricht heute werten.

[Reiners]

Antwort auf Beitrag Nr.: 32.581.752 von Eitzen am 27.11.07 14:36:08

Eines kann man den Leuten bei XING nicht vorwerfen, nämlich das sie unflexibel wären.

[Midas2000]

Mir gefällt das ehrlich gesagt nicht. Eigentlich wollte ich Xing heute deutlich aufstocken, habe dafür sogar eine "heilige Kuh" geschlachtet.
Und dann sowas! Wenn eine Firma etwas neues völlig fern von ihrem Kerngeschäft macht, ist das meist ein schlechtes Zeichen.
Erinnert mich irgendwie an den Einstieg von EM.TV ins Formel 1 Geschäft, das war für mich damals zum Glück der Anlas zum Ausstieg.

[Eitzen]

Antwort auf Beitrag Nr.: 32.582.143 von Midas2000 am 27.11.07 15:07:29

Ja,

Grundsätzlich erhöht das natürlich das Risiko der Aktie, da neue Unsicherheit hinzukommt.

Auf der anderen Seite ist China wie der wilde Westen. Wenn man da die richtigen Kontakte hat und ausreichend Kapital kann man sich eine goldene Nase verdienen.

Ich hab natürlich keine Ahnung, wie die Kontakte der XING Manager einzuschätzen sind.

[Reiners]

Antwort auf Beitrag Nr.: 32.582.143 von Midas2000 am 27.11.07 15:07:29

War die heilige Kuh "Hurray" ?

[Midas2000]

Antwort auf Beitrag Nr.: 32.583.691 von Reiners am 27.11.07 16:44:01

Nein, natürlich nicht Hurray. Eher stocke ich die jetzt auf.

Es war das P3 Private Equity Zertifikat.
Das ist eigentlich ein wundervolles Langfristinvestment, schön breit gestreut mit hoher Renditeerwartung. (Und vor allem bislang für mich auch mit ordentlicher Renditeerfüllung)

Und eine "heilige Kuh", weil ich es mir vor dem relevanten Stichtag gekauft hatte, die Erträge also auch nach Einführung der Abgeltungssteuer steuerfrei geblieben wären.

Allerdings sind mir in letzter Zeit vermehrt Bedenken wegen der Auswirkungen der Subprime-Krise auf den Private Equity Sektor gekommen.
Und die Chancen bei einigen Einzelwerten sind derzeit einfach zu verlockend!

[Reiners]

Antwort auf Beitrag Nr.: 32.585.109 von Midas2000 am 27.11.07 18:14:47

Das mit dem wilden Westen ist nicht ganz verkehrt ausgedrückt.

Ich war vor ein paar Monaten auch ganz baff als ein chinescher Pharmawert auf einmal in Windkraft machte.

XING scheint da kein Einzelfall zu sein. Wenn die Chinesen eine Chance wittern, können sie sehr schnell sein. Da kommen nicht mal die Amis mit ihrer Mentalität mit, von den Europäern ganz zu schweigen.

Natürlich fehlen dann auch mal Kompetenzen, jedoch sollte man die Lerngeschwindigkeit der Chinesen nicht unterschätzen. Zudem gehen ich davon aus, dass man bei XING Know-how zukaufen wird bzw. schon hat.

[Midas2000]

Antwort auf Beitrag Nr.: 32.587.051 von Reiners am 27.11.07 20:04:56

@Reiners,

Ich war vor ein paar Monaten auch ganz baff als ein chinescher Pharmawert auf einmal in Windkraft machte.

Das hätte mich auch geschockt!
Wie ging die Sache denn weiter, sind die in dem Bereich erfolgreich? Oder kann man dazu noch nichts sagen?

@all,

kennt Ihr eigentlich positive Beispiele, wo es gut ging, wenn ein Unternehmen einen neuen Bereich völlig fern seiner Kernkompetenz versucht?

[Eitzen]

Antwort auf Beitrag Nr.: 32.596.634 von Midas2000 am 28.11.07 13:05:38

@Midas

Ich denke, daß es in China weniger um die Verlagerung von Kernkompetenzen geht.

Es geht mehr darum, daß hier viele Cowboys von den Indianern Gold für Glasperlen bekommen können. Dazu muß man Glasperlen haben und die richtigen Kontakte zu den Wigwam Brüdern.

Frage ist, ob wir es hier eher mit Cowboys oder Indianern zu tun haben. Tendenziell würde ich hier auf das Erstere tippen. Sie haben extra eine Spezialabteilung aufgebaut, die seit zwei Jahren mehrere Investments analysiert hat. Aber letztlich weiß man es natürlich nicht.

[Realnetworker]

Hey Midas,

haste Lton Zahlen studiert...sind ganz ordentlich und bei Umsatz sogar leicht drüber, war ja nicht zu erwarten wenn ich da an Hray denke....Anfang 2008 Turnaround in Aussicht gestellt, eine Frechheit, daß die Aktie unverändert gestartet ist!

Happy Trade

[Midas2000]

Antwort auf Beitrag Nr.: 32.599.898 von Realnetworker am 28.11.07 16:21:01

Ja klar hab ich das gesehen, und war auch eher positiv überrascht.
Ich bin zur Zeit auch bei allen drei dabei (HRAY, LTON, KONG).
Mir scheint, der Sektor hat den Tiefpunkt durchschritten und könnte 2008, nicht zuletzt dank Olympiade und 3G, endlich durchstarten!

[Midas2000]

Antwort auf Beitrag Nr.: 32.599.898 von Realnetworker am 28.11.07 16:21:01

@Realnetworker,Reiners,Kanaren,

mit Linktone solltet Ihr Euch nochmal näher befassen.
Da tut sich m.E. Entscheidendes.
Die haben zu der KE (obwohl schon im Q3 CC besprochen) gestern nochmal einen separaten CC abgehalten. Derzeit nur als Telefonreplay erhältlich, und teils schwer verständlich.
Aber die Bedeutung der neuen Zusammenarbeit ist offensichtlich erheblich.
Es ist auch von Umsatzwachstum von über 100 % p.A. die nächsten Jahre die Rede. Vermutlich nur auf den Werbeumsatz (aktuell rund 2 Mio im Quartal) bezogen, aber immerhin.
Jedenfalls wäre es interessant dazu Eure Meinung zu hören.

Wenn Ihr Linktone weiter diskutieren wollt, sollten wir das aber natürlich im entsprechenden Thread machen.

[boerseaugsburg]

zu XING:

ich habe mir heute mal die Eckdaten auf Yahoo angesehen:

MK rund 250 mill

Cash rund 268 mill

cash pro aktie 9,08 usd.

kurs 8,48 usd.

[Eitzen]

Antwort auf Beitrag Nr.: 32.639.629 von boerseaugsburg am 02.12.07 11:20:55

Daten sind mißverständlich, da Qiao Mobile vollkonsolidiert wird. Aktie ist zwar sehr billig, aber so billig nun auch wieder nicht.

Außerdem gibt es auch noch über USD 200 Mio. Schulden.

[Reiners]

Antwort auf Beitrag Nr.: 32.640.042 von Eitzen am 02.12.07 13:22:28

"Außerdem gibt es auch noch über USD 200 Mio. Schulden."

Naja, dafür haben sie auch noch andere Assets- z.B. Forderungen usw.

Wenn man alles rausrechnet, also auch den Minderheitsanteil sowie sämliche Schulden und nur die current assets nimmt, kommt man wirklich auf ein Nettocash von ca. 9 USD.

[Eitzen]

Antwort auf Beitrag Nr.: 32.640.109 von Reiners am 02.12.07 13:39:17

Ich komme sogar auf 37 Mio. USD Net Cash (nach Adjustierung für die Kapitalerhöhung, die ja zu 11,3 Dollar gezeichnet wurde).

[Eitzen]

Weiß jemand, wann hier die Neunmonatszahlen kommen sollen?

[Realnetworker]

wirste wahrscheinlich schon selbst wissen....

20.12. Q3 Xing

wird ne heiße Woche werden

langfristiger Aufwärtstrend zu 7.6$ ca ansteigend hält, dort bzw. auf akt. Niveau würd ich akkumulieren (werd ich noch vor den Zahlen machen).
Akt. leicht bearische Formation ableitbar, so daß ein Retest des 7.60$ Bereiches nochmal anstehen (könnte)?!

Einstellig $ oberhalb von 7.6$ sind m.E. absolut "Strong Buy", was hab ich fürn Risiko im vgl. zur Chance 6-7$----20-...50$ who cares..

Happy Trade

[Eitzen]

Die kleinen Ami Schisser flüchten sich vor den Zahlen erstmal in die Liquidität. Was für ein Schwachsinn. Die QXM Zahlen sind doch schon bekannt. Was sollte hier also Überraschendes kommen?

Inzwischen handelt QXM über XING.

Hab selten eine Aktie mit so vielen zittrigen Investoren gesehen.

[Realnetworker]

QXM ist bekannt bzw. daraus resultierend CECT Brand.

Angaben/Verkaufszahlen-->Wirtschaftlichkeit von der "Cosun" Billighandymarke representieren ausschließlich Xing...
Xing hat m.E. laut HP und aus meiner Info von 2003 auch noch Festnetztelefone/Drucker u. ähnliches im Sortiment...?
Infos zu Xing-"Rohstoff-Mining" dito....(darüber wissen wir noch nichts bzw. nicht viel und wohl nach der PR auch nicht viel mehr)

also ich denke da ist so einges, was angesprochen werden könnte....

Happy Trade

[gans35]

Antwort auf Beitrag Nr.: 32.807.594 von Realnetworker am 18.12.07 19:59:07

Na, was sagen die Zahlen?! Sieht doch wieder so aus wie immer! Vorbörslich geht es kräftig nach unten, aber das sind wir ja gewöhnt!

[Midas2000]

Antwort auf Beitrag Nr.: 32.582.143 von Midas2000 am 27.11.07 15:07:29

#2620 von Midas2000 27.11.07 15:07:29 Beitrag Nr.: 32.582.143
Dieses Posting: versenden | melden | drucken | Antwort schreiben | QIAO XING UNIVERSAL TELEPHONE


Mir gefällt das ehrlich gesagt nicht. Eigentlich wollte ich Xing heute deutlich aufstocken, habe dafür sogar eine "heilige Kuh" geschlachtet.
Und dann sowas! Wenn eine Firma etwas neues völlig fern von ihrem Kerngeschäft macht, ist das meist ein schlechtes Zeichen.
Erinnert mich irgendwie an den Einstieg von EM.TV ins Formel 1 Geschäft, das war für mich damals zum Glück der Anlas zum Ausstieg.


Da hatte ich damals wohl den richtigen Riecher.
Für mich hat sich das Thema Xing erledigt!

[Eitzen]

Operativ sind die Zahlen sehr gut. Das Problem sind nur außerordentliche nicht Cash wirksame Aufwendungen, die zu einem Quartalsverlust geführt haben.

Eine Erklärung dieser Aufwendungen findet sich leider nicht. Ich kann es auch nicht nachvollziehen. Das Reporting ist insgesamt gesehen chaotisch. Die war auch schon bei den vergangenen Filings so.

Müssen die jetzt noch einen Report filen oder war es das und mehr ist nicht herauszufinden?

Gibt es eigentlich einen ConCall?

[gans35]

Antwort auf Beitrag Nr.: 32.826.722 von Eitzen am 20.12.07 15:03:38

Operativ sind die Zahlen sehr gut. Das Problem sind nur außerordentliche nicht Cash wirksame Aufwendungen, die zu einem Quartalsverlust geführt haben.

Eitzen, du scheinst ja Experte zu sein, deshalb eine Frage von einem Laien:
Was sind nicht Cash wirksame Aufwendungen? Kannst du mir da ein paar Beispiele nennen?

Vielen Dank!

[Midas2000]

Antwort auf Beitrag Nr.: 32.826.722 von Eitzen am 20.12.07 15:03:38

Also operativ sind die Zahlen (nebem dem was QXM beisteuert) nahe Null. Genau: 0,3 Mio.
Und während es für Cosun immerhin einen Ausblick gibt, gibt es zu QXM keinen. Schon in deren PR nicht.
Und dann so hohe "Sondereffekte" ohne Erklärung, das bedeutet selten etwas gutes und hat meist den Hang, sich zu verfestigen.

Naja, sie haben ja künftig mit Rohstoffen ein neues Segment.
Neues Spiel, neues Glück!
Aber eben ohne mich!

[Eitzen]

Antwort auf Beitrag Nr.: 32.827.199 von Midas2000 am 20.12.07 15:34:42

Cosun dürfte in Q3 operativ leicht negativ gewesen sein.

Sondereffekte ohne Erklärung:

Das ist in der Tat sehr unbefriedigend.

Auf der anderen Seite gab es solche Effekte auch schon im letzten Quartal durch Neubewertung der Warrants und durch den QXM Spin-off. In die gleiche Kategorie fallen auch die jetzigen Aufwendungen, nur daß es diesmal in die andere Richtung geht (in Q2 waren es ja netto deutliche Erträge). Ich sehe das nicht als problematisch an.

Eine Erklärung wäre allerdings förderlich. Aber wenn das Reporting gut wäre, würde es diese Aktie heute auch nicht im Ausverkauf geben.

In Summe denke ich nicht, daß Cosun und der Rest der nicht QXM zuzurechnen ist, einen negativen Unternehmenswert hat.

Nimmt man an, daß der "Nicht QXM Wert" gleich Null ist und insofern nur QXM werthaltig wäre, dann müßte XING mit mindestens 5% Premium zu QXM traden.

Bei 8 USD tradet QXM auf rund 3,3x PE (cash adjusted). Weiter sollte es wohl nicht herunter gehen.

Insofern sollte XING mindestens auf 8,4 traden.

Abwarten.

[Eitzen]

Ein Teil der Non Cash Expenses stammt mit Sicherheit aus einer Neubewertung der Warrants, da hier der Ausübungspreis heruntergesetzt werden mußte (maximal auf 7,9 pro Aktie). Dieser stand ursprünglich deutlich im zweistelligen Bereich. Die üblichen Abzockspielchen...

Betrug mal ausgenommen, dürfte es hier rational betrachtet nicht weiter nach unten gehen.

Ich kann die Verunsicherung aber schon vestehen.

[Realnetworker]

jetzt mal Butter bei de Fische!

Erwartet wurden im Consens Umsätze von 152Mio$ bei 0.51/Aktie bzw. abzgl. Non Cash-Expense (war wohl bekannt) 0.30/Aktie

da sind wir deutlich unter den Erwartungen, das ist Fakt, das das natürlich aufgrund der Bewertung übertrieben ist mit dem heutigen Abschlag is klar, aber wen interessiert es bei so einem chaotioschen Quartalsbericht

Xing wird sich in 100 Jahren WU nicht ändern, aber das war ja beklannt.....

[Eitzen]

Die Dilution, die hier seit Jahren gespielt wird ist krass.

Ist ne echte Abzockbude. Keine Frage.

Die letzten Warrants wurden im Mai in QXM Aktien ausbezahlt. Zu unter 5 Dollar (IPO Preis war deutlich zweistellig; 11 wen ich nicht irre). Quasi direkt mir dem IPO. Haben sie wahrscheinlich direkt abgeladen... Volumen war 40 Mio. USD. Mehr als USD 40 Mio. Profit haben die "Investoren" also innerhalb eines Jahres damit gemacht. Quasi ohne Risiko. Zinsen auf den Convertible haben sie auch noch kassiert.

Der Ausübungspreis der momentan ausstehenden Warrants wird jeweils zum 31. Oktober und 31. April nach unten angepaßt, wenn der Kurs dann unter dem Strike liegt (Volumen 26 Mio. USD).

Das einzige, was mich etwas positiv stimmt, ist daß das nächste Anpassungsdatum noch 4 Monate weg liegt und der Strike nicht unter 7,8 sinken darf (hatte mich oben verschrieben; also 7,8 nicht 7,9).

Es sei denn, es gibt noch eine billigere Kapitalerhöhung. Dann wird der Strike sogar noch weiter heruntergesetzt. Wahrscheinlich kommt bals wieder eine Kapitalerhöhung, wer weiß.

Ist alles ein abgekartetes Spiel. Für mein Empfinden ist das ein krimineller Haufen.

[boerseaugsburg]

derzeit 2 blöcke mit 100K und einer mit 50K im bid

ich verstehe die aufregung nicht ganz. jedes unternehmen versucht doch gewisse abschreibungen vorzunehmen. ich denke mal, dass man auch in china steuern bezahlt. das problem sehe ich hier eher für die shareholder, die natürlich auf gewinne hoffen, ergo auf steigend kurse. derzeit scheint aber diese ag daran kein interesse zu haben. eine 10 bis 20 prozentige wachstumsrate pro quartal ist doch nicht schlecht und vielleicht kommt hier eines tages auch einmal der fette gewinn für die aktionäre, soweit das management das möchte.

[Eitzen]

Antwort auf Beitrag Nr.: 32.832.068 von boerseaugsburg am 20.12.07 21:51:23

Es geht hier um Dilution. Daher stammen ja die Non-cash Expenses.

Steuerlich kann man diese Aufwendungen mit Sicherheit nicht geltend machen. Insbesondere nicht in China.

Ich habe nochmal genau nachgerechnet. War ganz schön kompliziert bei diesem Chaos Accounting...:

Nimmt man einen Unternehmenswert (EV Basis) von 0 für Cosun an, müßte XING mit 10% Discount zu QXM traden. Dies hat der Markt heute zum Schluß so gemacht.

Setze ich Cosun mal mit dem halben Sales Multiple von QXM an (0,3x) dann müßte der Discount bei 5% liegen.

[gans35]

Antwort auf Beitrag Nr.: 32.832.939 von Eitzen am 20.12.07 22:54:05

Eitzen,
meine Frage bzgl. "nicht Cash wirksame Aufwendungen" hast Du mir zwar nicht beantwortet, trotzdem möchte ich nochmals eine Frage an Dich richten:

Wie werden denn Aktienoptionen an das Management verbucht?

Irgendwie handelt es sich hier um Aufwendungen (Personalkosten), denn die Manager erhalten ja diese Optionen zu irgendwelche Bedingungen die wir hier nicht diskutieren müssen. Wenn diese Optionen nun ausgeübt werden entstehen automatisch Aufwendungen, die irgend jemand bezahlen muss.
In Deinem letzten Posting schreibst Du "Es geht hier um Dilution. (also Verwässerung)Daher stammen ja die Non-cash Expenses.
Bei dem ganzen Ablauf entsteht der Eindruck, dass diejenigen, die die neuen Aktien kaufen, die Zeche bezahlen. Dies ist aber nicht so, wie Du mit "Dilution" richtig beschreibst. Die Altaktionäre sind die Dummen!
Warum eigentlich nur Aktienoptionen für das Management und nicht für alle Beschäftigten? Plötzlich hätten die AG´s keine Personalkosten mehr und würden dadurch evtl. dicke Gewinne schreiben.
Vor einem Engagement am Aktienmarkt bei diesen kleinen und mittleren Unternehmen kann man nur warnen, denn der Kleinaktionär wird hier gnadenlos über den Tisch gezogen.

[Realnetworker]

Xing nach den Q3...

5 Jähriger Aufwärtstrend durch, letzte Aufwärtsbewegung war "wie leider schon angenommen" nur korrektiv, somit Bearkeil mit Ziel knapp unter 7$

Bei 7.04$ around wartet eine letzte horizontal Unterstützung,die halten muß, dennn sonst ist worst case echt bei 5$...

CECT+COSUN (1146T+400T) macht 1546.000 Mio Handys für Q3...NOKIA hat nach 3 Quartalen in China ca 51 Mio Handys verkauft, also schätzungsweise ca 19-20 Mio in Q3 bzw. das 12-fache von Xing Branded Phones...es ist also noch Potential da für Xing, aber das ist auch nicht das Problem..Margen sind in Line, QXM hat ja wieder einen Margen Schlager dabei für Q4, der laut PR auch gut angenommen wird....schlimmer ist da schon Cosun...400.000 in Q3 im Vgl 250.00 in Q1+Q2..hört sich gut an, jedoch für Q4 "nur" 20% Wachstum in Umsätzen, ist auch ok, aber m.E. deutlich zu wenig , wobei positiv zu erwähnen wäre, falls es denn so kommt, das Cosun Umsätze Q4 20% steigen sollen, Verkäufe aber nur um 10%, heißt also höhere Preise, wohl auch stabile Margen,aber m.E. auf zu niederem level!
Kennt jmd Schätzungen für CECT Absatz Q3 (1146T) für Q4?

das ist alles nicht schlecht aber auch nicht gut mit einem anderen Managment und ohne MR Wu RUI Lin und einer anderen Außendarstellung wären sicherlich double digits heute drin, aber nunja, der drops ist gelutscht...

naja, ich für meine Person bleibe am Ball, werde wohl noch in diesem jahr meine dritte und letzte Tranche kaufen in "€" und dann "warten"....weiterhin Verlustpotential von nun leider bis 5$, denke aber das um 7$ eine Stabilisierung einsetzt bei Chance von min 100%...

Frohe Weihnachten

[Eitzen]

Antwort auf Beitrag Nr.: 32.852.039 von Realnetworker am 23.12.07 13:11:15

Verlustpotential bis USD 5:

Hier darf man die Rechnung aber nicht ohne QXM machen. Der XING Wert setzt sich ja inzwischen fast gänzlich aus der 61% QXM Beteiligung zusammen.

Charttechnisch sollte man sich insofern eher QXM anschauen.

[Realnetworker]

Antwort auf Beitrag Nr.: 32.852.096 von Eitzen am 23.12.07 13:25:36

hey, QXM hatte vor wenigen Wochen nach seinen Q3 Zahlen sein All-Time Low bei 6.75$.
Nehme ich mal die letzten beiden "Xing" Tage weg, ist die Entwicklung beinahe ähnlich, mit dem Unterschied, dass QXM /Xing outperformt und dort "noch" nicht gänzlich von einem bearischen Gebilde gesprochen werden kann!
Solange QXM sein High/Low (simple Abwärtsfrequenz, Bestätigung eines intakten Abwärtstrends) bei 8.75$ nicht überwindet (besser 10$ Widerstandsmarke) und ca um 8$ nach unten weg bricht, so sind alte Tiefstkurse m.E. wieder in Sicht bzw. gar neue Lows möglich!!

& solange QXM nicht bullisch tangiert (wie gesagt 8.75$/später10$)bleibt nach Verlust der letzten horizintalen um 7$ bei Xing Verlustpotential bis 5$!

Man muß es realistisch sehen, ich bin voll drin in Xing bzw. zu 2/3 seid einigen Tagen, aber das Abwärtspotential ist nun nach BRuch 7.65(mit Gap Down) "reloaded".

Auf Bullische Augenblicke*Cheers*

[Eitzen]

Also bei 6 USD würde QXM auf einem Cash adjusted PE von rund 1x traden. Das scheint mir doch etwas übertrieben...

Der Boden sollte hier eigentlich nun gefunden sein.

[Realnetworker]

Am Ende gewinnen immer die Fundamentals, aber das Chartbild weist auf seine eigene Art und Weise auf kommende Fundamentals hin!
Also wenn ich eines gelernt habe in den letzten Börsenjahren dann, daß der Chart den Fundamentals vorwegläuft und das es nicht von ungefähr kommt, warum Xing und QXM so niedrig gehandelt werden.

Mit Bruch der 7.6$ around ist ein 5-jähriger Aufwärtstrendgebrochen worden, ein stärkeres(aussagekräftiges) Verkaufssignal(außerhalb der Fundamentalanalyse) gibt es nicht!!

Das einzige was den technischen Aspekt noch retten kann ist eine ausgeprägte Bärenfalle mit Stop@7.o4 auf Sk Basis around und zügigem Pullback > 7.65$ unter hohem Volumen!

Die Visionen "die Aktie ist doch schon so billig, tiefer geht wirklich nicht", hab ich schon so oft gespielt (InfoSpace-Hurray auch Xing damals mal um 5$ und höher)...bevor der Chart nicht dreht, können jederzeit Hiobsbotschaften kommen, die jetzige tiefen Kursen irgendwann ins rechte Licht rücken!

Aber krass isses schon, denn bei Xing`s QXM Anteil von 61.3%gegenüber deren Market Cap werden Cosun und Indoor bei Xing mit Abschlägen gehandelt, sprich das Bizz von Xing außerhalb von CECT ist eigentlich schon pleite!(zumindest in der Gunst der Börse)

Happy Trade

[Realnetworker]

Xing Mining:


¡¡¡¡Since 2006, COSUN Group has established Chifeng Fu-bang Copper Co. Ltd. and Chifeng Zhongtai Mining Co., Ltd. in Chifeng. COSUN Group has kept a sound business cooperation relationship with domestic and foreign funds, banks and other financial institutions. With its strong capital operation ability, it makes full use of domestic and international capital markets to provide plentiful capital for the sustainable development of mining development projects. Up to July 2007, COSUN has invested RMB2 billion Yuan in Xinjiang, Inner Mongolia and other places to develop mining industry, engaging in the exploration and development work of gold, nonferrous metals, energy and other mineral resources.

¡¡¡¡Based on the actual adjustment on reconnaissance progress and mine reserves, Qiaoxing Group will adjust the investment plan in inner Mongolia and Xingjiang. QX Group will make total 2 billion RMB investment in installments. By Sept, 2007, QX group has invested 200 million RMB, and will reach to 450 million RMB within the year. According to the actual reconnaissance of experts, the value of the mines reverse owned by QX group in this two areas is more than 2 billion RMB. This shows that QX group will gain the mines which valued of no less than 2 billion RMB by the investement of 450 million RMB.

hoffentlich sind das mal keine Milchmädchenrechnungen, dann ist Xing-Mining ja bald größer als Xing(CECT), wen jucken dann noch neue HandyVerkaufszahlen...

[Realnetworker]

Xing between the lines...



5 Jähriger flacher Aufwärtstrend(ca 7.65-7.70$) wurde zu Beginn der Do-Sitzung (nach Q3 PR ) mit Gap Down gebrochen!Aussagekraft100%

Intraday Widerstand in Do +Mo Sitzung um 7.50-7.55$ s.o

Letzte ernstzunehmende horizontal Unterstützung knapp oberhalb von 7$ (@7.04$) auch gleichzeitig KZ aud der Bearflag vor den Zahlen, würde ich aber als erfüllt ansehen, hängt von intraday oder SK Basis ab.

Vorschau ausgehend von SK 7.46$ gestern:

Gelingt ein Überwinden des Widerstandsclusters um 7.50-7.55$ s.o. & anschließend 7.65-7.70$ (Aufwärtstrend von unten) dann Bärenfalle = verstärktes Kaufsignal gehts zurück in den Trend mit Gap Close @8.4$ =KZ & Strong Buy für Double Digits!

Neutrale Schiebezone zw. 7.7$ und 7.16$ bei Bruch(später around7$) best case Wendepunkt @ 7.04$.

Worst case SK unter 7.04$ und kein Pullback in den alten Aufwärtstrend KZ 2008 5$!

Anmerkung: 2006 im Juli gab es auch ein Verlassen des Aufwärtstrends..anschließend zügiger Pullback zurück in den Trend (= verstärktes Kaufsignal +80% Anstieg =Bärenfalle die "1.ste"

daraus auch resultierend die wichtige letzte signifikante Unterstützung um 7.04$.

Happy Trade

[Realnetworker]

Qiao Xing Universal Telephone, Inc.'s Major Indicators of Financial Performance for 2007 Expected to Reach a Record High
Thursday December 27, 9:00 am ET


HUIZHOU, Guangdong, China, Dec. 27 /Xinhua-PRNewswire-FirstCall/ -- Qiao Xing Universal Telephone, Inc. (Nasdaq: XING - News) today announced that management expects the net results for the fourth quarter of 2007 of the Company to be positive and major indicators of financial performance for the fiscal year of 2007 for the Company to reach a record high.
Brief Review of the Past Three Quarters

The Company's mobile phone business has experienced rapid growth in the first nine months of 2007: about 3,600,000 units of mobile phone handsets were shipped, an increase of about 80% compared to the same period last year.

In the past three quarters, the financial performance of the operations of the Company has improved considerably compared to the same periods a year earlier, as the following chart shows:



2007 2007 2007 2007 2007 2007
First First Second Second Third Third
Quarter Quarter Quarter Quarter Quarter Quarter
USD '000 Y-O-Y USD '000 Y-O-Y USD '000 Y-O-Y
Growth Rate Growth Rate Growth Rate
Net sales 112,676 28.1% 129,712 26.9% 139,465 22.8%
Gross profit 24,837 77.9% 40,013 105.9% 32,864 28.6%
Income from
operations 18,781 748.2% 29,306 114.7% 24,162 9.2%


The Company's net results and basic earnings per share of common stock have been affected by certain non-cash income and expenses and the effect of the participatory convertible bonds in the calculation of the basic earnings per share, which, in the opinion of the Company's management, may not be indicative of the operating results of the core business of the Company. The non-cash income and expenses related to net gain on conversion of XING convertible bonds by bond holders to shares of a subsidiary, gain on deemed disposal of a subsidiary through IPO, share-based compensation expenses, amortization of acquired intangible assets, non-cash interest expenses, loss on re-measurement of embedded derivatives and extraordinary gain on acquisition of minority interests in a sub-subsidiary by a subsidiary. The effect of the participatory convertible bonds in the calculation of the basic earnings per share related to the bond holders' entitlement to participate in dividends when, and if, dividends are declared on common stock.


If the above-mentioned non-cash income and expenses had been taken out,
and the effect of the participatory convertible bonds ignored, net results
(after extraordinary gain, if any) and basic earnings or loss per share of
common stock would have been as follows for the each of the past three
quarters:


2007 First 2007 Second
Quarter Quarter 2007 Third Quarter
(USD) (USD) (USD)
Non-GAAP
net income 15,900,000 17,685,000 12,800,000
Non-GAAP
basic earnings per
share 0.54 0.60 0.43


Duly taking into account the non-cash income and expenses and the effect of the participatory convertible bonds in accordance with Generally Accepted Accounting Principles (GAAP), the Company reported net results (after extraordinary gains, if any) and basic earnings or loss per share of common stock for each of the past three quarters as follows:



9 Months
2007 First 2007 Second 2007 Third Ended Sep 30,
Quarter(USD) Quarter(USD) Quarter(USD) 2007(USD)

Net income -12,625,000 116,530,000 -1,286,000 104,084,721
Basic earnings per
share -0.43 3.30 -0.04 3.08


9 Months
2007 First 2007 Second 2007 Third Ended Sep 30,
Quarter (RMB)Quarter(RMB) Quarter(RMB) 2007 (RMB)

Net income -97,506,000 887,029,000 -9,637,000 779,886,000
Basic earnings per
share -3.29 25.15 -0.33 23.07


Non-cash Interest Expenses and Gain or Loss on Re-measurement of Embedded Derivatives in Future

The Company's financial results of the third quarter of 2007 has been affected to a considerable extent in a negative way by non-cash interest expenses of RMB 59.9 million (USD 8.0 million) and a non-cash loss on re- measurement of embedded derivatives of RMB 32.5 million (USD 4.3 million) in connection of the convertible bonds issued in October 2006 and in August 2007. The Company expects to continue to record non-cash interest expenses for the fourth quarter of 2007 in connection with the convertible bonds issued October 2006 and August 2007, but in a much smaller amount compared to that for the third quarter. After the fourth quarter of 2007, we believe that there will no longer be any non-cash interest expenses in connection with the convertible bond issued in October 2006. Also, after the fourth quarter of 2007, we expect that any gain or loss on re-measurement of embedded derivatives in connection with the currently outstanding convertible bonds would be of an insignificant amount.

Guidance for the Fourth Quarter, the Whole Year of 2007 and Beyond

We expect the financial performance of the operations of the CECT-branded mobile phone handset business in the fourth quarter of 2007 to be better than that in the third quarter. We also expect the revenue from the sales of the COSUN-branded mobile phone handsets in the fourth quarter of 2007 to increase about 45% compared to the same period last year, and about 20% compared to the third quarter this year.

Mr. Wu Rui Lin, Chairman of XING, said, "With the knowledge that there would be and much less non-cash interest expenses than in the third quarter and insignificant gain or loss on re-measurement of embedded derivatives in connection with the outstanding convertible bonds, we believe that the Company would post positive net results and basic earnings per share of common stock for the fourth quarter of 2007.

"For the whole year of 2007, when all the four quarters are taken together, in view of the exceptional results of the second quarter, in which we recorded net income (after extraordinary gains) of RMB 887.0 million (USD 116.5 million) and basic earnings per share of common stock (after extraordinary gains) of RMB 25.15 (USD 3.30), we expect that net sales, gross profit, gross margin, income from operations, net income and basic earnings per share of common stock of XING would reach a record-high for the fiscal year 2007.

"Looking ahead, we maintain our forecast that for the next five years, revenues from the telecommunication terminal business of XING would grow at a rate of 20-30% per year on average."

[Realnetworker]

was gibts Neues?

Technisch: Island Gap (Gap gefällt mir nicht, aber egal), zurück im Trend sprich, wenn der Bruch des 5 jährigen Uptrends 100% Aussagekraft hatte, dann hat der Pullback zurück in den Trend min. 150% Aussagekraft!

Fundamental:

alles bekannt, bis auf, und das ist der Befreiungsschlag:

The Company expects to continue to record non-cash interest expenses for the fourth quarter of 2007 in connection with the convertible bonds issued October 2006 and August 2007, but in a much smaller amount compared to that for the third quarter. After the fourth quarter of 2007, we believe that there will no longer be any non-cash interest expenses in connection with the convertible bond issued in October 2006. Also, after the fourth quarter of 2007, we expect that any gain or loss on re-measurement of embedded derivatives in connection with the currently outstanding convertible bonds would be of an insignificant amount.immer unter der Voraussetzung, dass hier der Wahrheitsgehalt gewährt wird!

alles andere CECT/COSUN bekannt!

m.E. verdient diese News in einem guten Umfeld einen Aufschlag von 30-40%, sprich ca 10$, womit der Sinn des Island Gaps erfüllt wäre!

Happy Trade

[Realnetworker]

bereits über 2.8 Mio Aktien gehandelt....

das wird das höchste Volumen seid 18 Monaten!(bereits doppelt so viel Volumen wie am Tag der PR Q3!)do your own dd.

davor gab es einmal tagelang Handel von 3-4 Mio Aktien pro Tag, und zwar bei der ersten Bärenfalle @7.5$, Xing stieg damals bis 12.50$!

[boerseaugsburg]

auf steigende kurse

die mk ist eh ein witz im vergleich zu manch anderer chinaaktie und wenn dieser chinese namens wu auch seine versprechen einhält wird dieses manko auch bald korrigiert.

ich freue mich schon heute darauf, sollten wir einen tages den thread-titel auch erreichen, wovon ich eigentlich eher nicht ausgehe, vielleicht ist es auch etwas hoch angesetzt aber 10% davon würden mir reichen.

[Realnetworker]

5616$ war damals die Kongruenz zur Nokia Marktkapitalsierung, müßte jetzt so bei 7000$ liegen k.A. muß mal wieder nachrechnen...

heißt also,wenn Xing mal 1% von Größe und Bewertung von Nokia, ich betone, 1%, dann wäre Xing bei ca 70$ sprich 800%! (bei einem Prozent Nok Market Cap)

Nasdaq

[Diva]

Antwort auf Beitrag Nr.: 32.883.266 von Realnetworker am 27.12.07 21:54:01

gulp .... das ist ein Wort ... auf ein %

[Realnetworker]

hab gerade mal nachgeschaut, Vgl. hinkt ein wenig, Xing hatte 2003 weniger Aktien am markt, aber dennoch kannste Xing Market Cap ca 600 mal in Nokia reinstecken!

sprich, bei 1% Nok Market Cap auf Xing bezogen noch 600% Potential für 1%...

naja Spielereien, dennoch m.E. ein Tag, an dem ein Fünkchen Hoffnung auf eine etwas angemessenere Bewertung gelegt wurde!

[boerseaugsburg]

ich glaube, das kann man so eher nicht vergleichen.

man sollte hier im vergleich die mk zum umsatz legen und die liegt mei einer nokia bei knapp 3

unter berücksichtigung der wachstumsaraten, entsprechenden gewinnen vorausgesetzt würden ich einen fairen wert um die 30 bis 40 usd. ansetzen.

ich denke das ist ok.

[Realnetworker]

http://www.duttonassociates.com/research/xing/notes/xing_not…

dieser Bericht könnte bald wieder über die Ticker laufen...

Schätzungen niedriger, denn wie schon gesagt Q3 Revenues Forecast war bei > 150 Mio$ etc.

aber Hoffnung auf bessere Transparenz und somit höhere Bewertung!

[Realnetworker]

http://biz.yahoo.com/bw/080108/20080108006075.html?.v=1

da isser, siehe #2665

[Diva]

Antwort auf Beitrag Nr.: 32.983.613 von Realnetworker am 08.01.08 18:58:45

Dutton Associates Announces Investment Opinion: Qiao Xing Universal Telephone Rated Strong Buy In Updated Coverage By Dutton Associates
Tuesday January 8, 12:30 pm ET


EL DORADO HILLS, Calif.--(BUSINESS WIRE)--Dutton Associates updates its coverage of Qiao Xing Universal Telephone (Nasdaq: XING - News) maintaining a Strong Buy rating and a price target of $19.52.


....

[Realnetworker]

bin mal gespannt ob sich China von den USA abkoppeln können, denn Dow und Nasdaq100 haben m.E. binnen 6 Monaten KZ von 11300 bzw 1650 sprich 10-15% Rückschlagspotential (Dax erstmal 7600, dann 6900)


zu Xing: technisch neutral/Gap Close, akt. Bodenbildung, großer Käufer seid Do. 20 Uhr im Markt (60T/100T/150T)Käufe im Bid
wenn Mo. einigermaßen pos. verläuft gelingt m.E. ein Sprung über 8$

Fundamental. nix neues!

Xings to remember:

266Mio Cash (Sep. 30)
240Mio ca (CECT Anteil von 63.1%)
Indoor for Free
Cosun for Free
Moly for Free

CECT+Cash sind ca 16-17$ pro Aktie wert (Indoor-Cosun-Moly gibts gratis dazu)

Würde ich in den Dutton Report Cash einrechnen käme ich auf ein KZ von ca 28$
Würde ich auf Grund besserer Transparenz(hoffentlich Fortsetzung) ein PE von 12 rechnen + Cash käme ich auf ca 39$
Würde ich ein Branchen PE + Cash rechnen käme ich auf ca 50$
Würde ich die Wachstumsraten berücksichtigen, wüßte das Moly ein Erfolg wird (Moly Aktien in HK ca PE 30!!!)+Cash bei PE zw. 25-30, je nach Wachstum) käme ich auf ein KZ für Ende 08 von 70-85$ ca!

Noch Fragen?

Happy Trade

[boerseaugsburg]

Antwort auf Beitrag Nr.: 33.030.327 von Realnetworker am 12.01.08 18:48:30

dein wort in gottes ohr

gestern waren richtig fette order im bid wurden aber durch die mm geschickt bedient.

[Eitzen]

Antwort auf Beitrag Nr.: 33.030.327 von Realnetworker am 12.01.08 18:48:30

@Realnetworker
Deine Rechnung ist zu optimistisch. Es gibt ja auch noch Schulden auf XING Level. überschlagen rund RMB 576 Mio.

Netto gibt es gar keine Cashposition. Ich komme auf ein Nettoverschuldung von 150 Mio. RMB. Das Cash stammt ja zum Großteil aus der QXM und ist damit schon im Wert des QXM Anteils enthalten.

Somit: ~USD 240m (QXM Anteil) - ~USD 20m (Nettoschulden) = USD 220m.

Das sind pro Aktie rund USD 6,3. Der Rest zum letzten Kurs von 7,75 ist Cosun (Cosun wird also momentan mit USD 1,45 pro Aktie bewertet).

[Diva]

nette Erholung ....

Wann sind hier die Zahlen zu erwarten

es dankt

Diva

[Realnetworker]

Antwort auf Beitrag Nr.: 33.834.800 von Diva am 08.04.08 12:21:16

21.4. vor Börseneröffnung kommt CECT

Xing kannste dann auswürfeln....

Aber umsatzstarker, hoffentlich trendwechselnder Aufwärtsimpuls, macht Hoffnung.

7.5$ around Make it or Break it Level, bis dato nur techn. Erholung, keine Wellenüberschneidung

[Diva]

Antwort auf Beitrag Nr.: 33.882.906 von Realnetworker am 14.04.08 19:59:31

DANKE .... dann würfle ich mal ...

[Diva]

Antwort auf Beitrag Nr.: 33.882.906 von Realnetworker am 14.04.08 19:59:31

Hallo Real, hallo @all,

ich habe leider kein Chartprogram:

Haben wir den Abwärtstrend jetzt von unten nach oben durchbrochen?


Wenn ja ... wie sind die Perspektiven einzuschätzen ...
CECT steht, soweit ich weiß, doch garnicht soo schlecht da ...

es dankt

Diva

[Realnetworker]

lass uns Morgen Abend nochmal drüber reden, das Chartbild kämpft mit einer Wellenüberscheidung, was positiv wäre, aber eine Reaktion von 20% Morgen, in welche Richtung auch immer, ist bei Xing immer drin...

Ende des Jahres stehen wir wieder zweistellig

[Diva]

Antwort auf Beitrag Nr.: 33.928.725 von Realnetworker am 20.04.08 19:24:31

Dein Wort in Gottes Gehörgang ....



cu tomorrow

[JorgeP.]

Antwort auf Beitrag Nr.: 33.928.725 von Realnetworker am 20.04.08 19:24:31

[Reiners]

Ist hier was im Busch ?

Hohes Volumen zum Schluss und +20% bei einer Nasdaq von -9%

[Reiners]

Mine soll jetzt doch gekauft werden. Normal müsste man die zur Zeit ja günstig bekommen wo der Molypreis auf 10 USD abgerutscht ist.

http://biz.yahoo.com/prnews/081216/cntu031.html?.v=29

[Reiners]

1,30 USD Bodenbildung ??

Sind das die richtigen Einstiegskurse ?

[Realnetworker]

wenn die erholung jetzt bis 2$ weitergeht, könnte es ein Tief gewesen sein, sonst bleibt die Aktie im ewigen Abwärtskanal hängen

letzten 90min Fr.lassen hoffen,bei mehr Transparenz weiterhin m.E. ein 5-10$ Kandidat

[Realnetworker]

die Ungewissheit weicht laaangsam, Manipulation vom Feinsten sollte mit der heutigen PR der Vergangenheit angehören, so sollten nach dem 1.5. Kurse von >2 $ angesteuert werden