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Well neither are guaranteed. I see the buy back more likely than a rights issue as today a 20% rights issue might bring in £1.5m so not useful today. A 10% buy back is only £800k today so thats a bargain and should happen asap. what it will do to share will depend on those looking to sell. I suspect 10% might move it up go .2 as on opening day a massive amount of shares were dumped around this price. i cant imagine the bod seriously doing a rights issue unless its a stitchup and a further land grab by the bod. sadly would not put it past this crowd but non execs and hkex will be watching closely as the duo cannot be trusted.
What will the 10% buy back do to the share price? Is the 20% rights going to have a negative impact?
Looks like another little scam to do over the small share holders.
thank you
Some possibly great news but of course with CNEL there is a possible double edged sword. The AGM will vote on the option to complete a buyback of up 10% of the shares. for me it is far too low and should be 20% but i have been banging on about this to Ivy and others as today we are worth £7m and 90% below the IPO price. Therefore to buy back 10% of the shares and cancel is peanuts for the company. We have accumulated profit in the company that could today but the company several times over. So as long as they do this this they will boost EPS once we get back into profit and is a no brainer on every level.
https://www1.hkexnews.hk/listedco/listconews/sehk/2022/1118/2022111800600.pdf
The double edged sword is that they appear to be also talking about a rights issue for up to 20% of the company. My concern about this is that the directors are crooks, lets be honest, and a suspicious person might think they do a rights issue first to friends and family at these ridiculous low levels to increase their ownership of the business and then afterwards do a share buy back to boost their own share profits having trousered more shares for nothing. If they do a buy back of 10% this will be great but with this board you can probably be sure in what order they will do this. Happy to be proved wrong.
Hkex search 1156. Couple bits of info out today
hi does anyone have any news or where i could find updates please
thanks in advance
Let’s be honest they aren’t exactly an honest bunch. They will also be in the know of the future of the company. Be good if they showed faith and declared their holding. That would spark the market
In my view the last people selling is the founders and associates. They know the value of their company and they are more likely bringing the shareprice down as far as they can to then start buying them up or as i prefer announce a buyback. the company so much profit that is a multiple of company value so the people selling are those forced from the 18 months of grim ineptitude by board and those disgusted by the boards shenanigans. my view is next interims will be considerably better and we should be multiples of todays market cap so only 3 months to wait to see how second half went.
Not 100% certain but if the same as the LSE they would have to report selling/buying. With the LSE anyone holding over 3% would need to report buys/sells...
Get it back on the exchange and sell their lot while they can. Should have been banned from selling
Also remember the years before Cnel moved they lamented that AIM investors did not value their business and HK would turn the corner. How wrong were they. Cnel has never been this low and the hkex is completely bombed at a all time low. A bad workman always blames his tools and the duo i hope will finally understand that its their incompetetence over the last decade to not do basic reporting to investors that has caused most of this issue. If shareholders have no idea how cnel are doing how are they ever going to sell abroad and beyond the prc.
Hit a new low today and i had a bad feeling .1 was a likely landing but really hoped we would not as 10X climbs are not easy to come by. We might 3-5X if the revenue reverses and dividends/buy back are announced but today there is nothing to stop this continuing to slide a lot lower. Getting tempted to top up in all honesty as we worth about the same as a semi in Mayfair. pretty shocking valuation but also totally expected given the last 18 months. We have comfortably weathered the storm and with around $20m accumulated profits we are trading at a fraction of that today. If recent news is anything to go by we might even start to build sales outside of the PRC. Next interims i guess will be out in 5 months or so and therefore a long time potentially before meaningful update but if a PR agency has been found we might learn sooner. What a useless duo we have at the top. Brilliant technicians no doubt but a shambles when it comes to house keeping and basics.
i think you are probably right but for me all hangs on the next interims as they have reported on their website that they have completed a substantial project and many more in the pipeline. Oddly they must have known this 3 months ago when talked about a grim future. however the news seems to be quite robust so i am not sure what is right and i am confused. If the news release is correct then we should bounce back financially and one of the key concerns i had with CNEL is where they get paid in arrears so that should mean a substantial billing period if we just completed a 100k tonne project. This in scale is up their with biggest projects they have done so that makes me equally baffled how in their recent reports they did not even mention this project. Lets hope they get a decent PR agency onboard that is legit and properly start developing shareholder updates. Today being valued at £8m is pretty ridiculous when we made that in net profit last year.
What’s another 18months between friends. We will just continue to wait and hopefully be rewarded for once.
Not sure about that rule. A company is worth what someone is willing to pay. The price will only rise once CNEL provides guidance about future revenues or we need to more likely wait for next interims. Looking at recent news it looks very promising we will bounce back and have accumulated substantial profits so a big buffer so company is sound, especially now duo at top are being closely watched. Have we seen bottom i am not sure. Investors in IPO are nearly 90% down but several investors are fedup or forced to sell. Buyers are waiting on the sidelines to see if CNEL will do anything about it. It is all down the majority owned duo if they want to propel company forwards and i think some investors have decided the duo have other plans not aligned with pis.
Is There a rule on the hkex where an existing shareholder must offer the highest amount they have paid in the previous 12 months if moving in for a takeover? As with the lse. Sinister plan to get the entire company cheap? Any price they pay now would be the most paid in last 12 months?
I think now company is below £10m certain investors trigger an exit. I suspect those investing at these levels will 3-4x their investment as the next interims should show a return of revenue and profit based on the cryptic update. If information can be believed from RB that the company might formally involve a professional PR agency to disseminate news it will certainly help them considerably but obviously today the market only has information that revenue and profits crashed in last interim so really the company needs to issue guidance to recover that in comming interims or later half. Certainly its now a no brainer for the board to complete a 1-3m share buy back as that would reduce share supply up to 30%, allow investors to exit on mass at a thumping loss of 90% but restart progress. Even though prospects look great we have investors exiting for other reasons and frankly quite rightly. The company needs to access some of the 20m cumulative profits and deploy this. It massively benefits all shareholders and in particular the duo at the top so it might happen.
Interesting to see a 6m+ trade yesterday which took it to 0.18 before pulling back a bit. Price seems to be holding now
Seems CNEL are apparently working hard. Hard to exactly understand but we have a 100k tonne plant that has just completed and a whole load more but market has entirely ignored it so far. If i understand correctly this will fire us back to serious revenue and profit this half but as usual its hardly presented clearly.
http://www.zkty.com.cn/a/202210/638.html
“ The EPC general contracting project of the new 100,000-ton/year anhydrous ethanol project undertaken by Zhongke Tianyuan and invested by Jilin Province Xintianlong Industrial Co., Ltd. will be completed on September 25, 2022, and will be completed on 10 September 2022. On the 4th, qualified anhydrous ethanol was produced.
In addition, Zhongke Tianyuan also has 2 sets of anhydrous ethanol projects under construction for the lithium battery industry. Signed a 40,000-ton/year anhydrous ethanol plant refining contract with Ningxia Baofeng Energy Storage Materials Co., Ltd.; and signed an EPC general contracting equipment and material supply contract for the anhydrous ethanol project with China Chemical Engineering Eleventh Construction Co., Ltd. .
These contracts have opened up the application market of ethanol products in the field of lithium battery electrolyte for the company, opening up a new energy business growth point. We believe that with the maturity of the company's technology and the demonstration effect of the above projects, it will attract more and more customers and bring new orders.
Overseas business progress
The epidemic is gradually returning to normal, and the projects in Thailand, Indonesia and Myanmar that have been suspended for a long time are gradually resuming implementation, and overseas business expansion is also beginning to return to normal. Cooperation.
Great to see the point of views from you all so thank you. Personally I think it still has potential, but not with this BoD. I am only holding because it's not worth selling for the lose I'd have to take. I'd rather take and punt and lose than sell and be right.
I don't have any positive expectations from the company to be honest. There is much they could have done or could be doing to restore lost confidence. I expect the news cycle will be as poor as before and the next update in 6 months time will probably show slightly less loss as they have already forecast. CNEL showed so much potential and promise but that seems to have evaporated.
Certainly feels we have crossed a psychological barrier of a market cap of £10m. I wonder how the BOD feel that their company is almost worthless and it must hammer sales as companies do their due diligence. Its a viscious circle they need to fix fast. It beggers belief there is not a single word from the company prior to relisting, nothing from “investor relations”. If they dont announce a share buy back at these levels they are going to be classified insane and they should stand down and let a serious management team take over. i had my suspicions we might see 1HK after relisting as everyone knows what the duo are like but they seem to enjoy digging holes and throwing themselves in one after another again and again and again.
Sorry what has RB actually done? Pumped to get onto the HKEX, then silence. He also part of the problem. Obviously doesn’t know much about the people he’s in bed with.
Well we are down to just a £10m market cap company. if you have £100k down the back sofa you could snap up a 1% stake. only for the brave but this drop is a shot across the bows of terrible management with a woeful sales campaign outside the PRC. i am hoping a 3rd party tables a big offer and puts in some serious managers who can scale the company globally. If the duo were smart they would probably do a share buy back and hoover up 10-20% of share float and cancel for peanuts. this would mean that they would get back the same stake before their IPO raise as 10HK for almost 85% discount. That would be the smart thing to do but as with everything Cnel they probably will bury their heads in the sand again and be all surprised when something else happens. thank goodness we have RB on board or i suspect cnel would have never returned.