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News.... and we remain suspended.
On 7 February 2022, the Company received additional resumption guidance from the
Stock Exchange that, in addition to the Initial Resumption Guidance, the Company is
required to conduct an independent internal control review and demonstrate that the
Company has in place adequate internal controls and procedures to comply with the
Listing Rules (the “Additional Resumption Guidance”, which together with the Initial
Resumption Guidance, the “Resumption Guidance”).
Ok - it looks at least that there is nothing dodgy going on - but they will need to smarten themselves up
https://www1.hkexnews.hk/listedco/listconews/sehk/2022/0128/2022012801199.pdf
still firmly suspended but perhaps a slow rehabilitation now independent review gives the all clear.
https://www.hkex.com.hk/Market-Data/Securities-Prices/Equities/Equities-Quote?sym=1156&sc_lang=en
I am not expecting trading to start until latter end of March 2022 at the earliest. Given we have suffered 10 months i really want them to return with a bang and plan accordingly as a poor return will probably lead to bigger investors forcing the board to make serious changes and apply pressure that us PIs cannot.
Yes I had a very pleasant surprise in my HL account too. Appeared at round about pre-suspension price. Not sure why, but hopefully an omen! Would look better with another '0 on though, but that at this stage is wishful thinking.
So today I review my H&L account and for the first time ever my account shows an investment value against my CNEL shares? Is this the same for others? Is it a sign of trading or that we are back…! Anyone else? I thought you could trade only via telephone.
might as well stay ! after all, i thought the company was a gonna and id lost my money lol
Would love to hear what investors in the HK IPO think about all of this who bought at almost 10p. We are just a few but i do wonder if theHrecent investors are not a lot madder, given their significant losses. Apologies if i perhaps have laboured some points but i am angry that this could all be so different and with so little investment in time and energy. they are breaking new territory but cannot do the most basic of investor relations exercises that would massively assist them to grow internationally. Frankly at this time and their approach it clear they will not sell a bean outside of China. I am sure even if companies approach them they are being ignored but their non sensical website is the killer really. what international company working in English would get anything from their website in regards to sales and marketing materials. There is 0 PR. The UK website is so old and there is no news. we need to forget international expansion in reality of what we can see on the ground as while it is their for the taking they have ignored and in fairness China is a big market. I will wait to see how they approach going back onto the HKex as it will speak volumes about the future. At the same time i do not want to sell early as i think that is exactly the strategy of the board to buy up investors shares on the cheap and perhaps one day actually start to make waves as we have $40m of profit banked but only worth $20 so only taking 50p in the £ and that is without thinking of the company growth. That would be very frustrating but a big lesson learnt.
I am now convinced we are on for bumper harvest. This company is delivering in the background. They have global ambitions which is what we want. I am really excited about green hydrogen in china. Imagine we have new patented technology to produce green hydrogen in a market with exponential growth. It in itself could make company £200 million market cap. The winter Olympic flame is fuelled by green hydrogen. PRC are showcasing hydrogen by doing this. Shows that its the future. Ethanol unfortunately isnt. Not in china. Arable land and tradition of famine will always put ethanol on back foot in china. I am staying for long haul. Embargo put on company with suspension so no bioneutra acquisition until suspension is lifted. So could still happen.
I can honestly say I had written these off, with always that tiny bit of hope they would come back. I am torn on what to do as I have an out price of 9-10p as this would double my investment.
My concern with this stock is that it has made me so mad on occasions with its down right disregard for us as shareholders and its lack of communication . However, being unable to trade for the last 10 months possibly, just possibly this could well be a blessing in disguise!? Maybe they have stepped up things over time and with all the results looming there could be some decent surprises with something to get really excited about. If that is the case then I might ride this baby longer term for that 15p+.I just need to see something…. Gluten for punishment? Possibly,However I do still believe the potential is incredible and I’ve followed this for a long time from early Aim to the Hang Sang! How has that happened I don’t know.. I just have this desire to see this out!
I would love to say I’d stay but unfortunately with the lack of info and now a lack of confidence, I would probably sell up, although it will depend on quite a few things
When they get their act together who on here is selling up and who is going longer term?
I personally can see a jump up in price coming once we get trading again and I’ve always been committed to getting the real value in the SP of 15-20p in the next few years even not higher than that.
Will everyone else be jumping ship as soon as they can or riding the roller coaster?
Its painful to read sometimes how a company like Eqtec (not dissimilar to CNEL in many ways) but how much the board shares with investors outlining projects and so forth and building honesty and an increasing shareholder base that all works to their advantage when they need if. Why on earth CNEL cannot share projects clearly and concisely is beyond me and no one should apologise to any of the board that have systematically destroyed shareholder value and offered no tangible information to its investors. The last 9 months when they were supposed to update investors they offered nothing, just laughed. So far nothing has changed and we can pray by hook or by crook the board do so they can push on to $200m market cap, maybe buy a few companies for shares (not cash with mates where there is a massive conflict of interests ). Lets keep pressure on the board however we can and force a change of behaviour. Not pushing Eqtec but investors here will spot the similarities and differences. https://www.lse.co.uk/rns/EQT/trading-update-ss99bb8sxiv5il1.html
Well balanced mills. The other question is do we need to also wait for the 31st December 2021 full year results as well as we are on the borderline if they plan to come back to the HKex in the next month or so? The rationale might be they do a maiden dividend for 2021 results and not 2020 as while they did release unaudited results they had not have their board meeting to decide on a dividend or not. Obviously they have room for both and given the shareholder bashing it might be wise but we could get 3 set of results delivered before coming back to the Hkex. I suspect they will wait for all of them so that would probably be end of March or even longer given the time it would take. If they were quick they could release just 2020 audited and half yearly and get back end of February and then release 2021 at end of March. However my fear is board will come back to the exchange with a whimper and the general news blackout and that would create more instability. i am hopeful the HKex will not stand for that anymore and only allow them back as per their requirements to fully update shareholders with all news relating to the company.
I've waited to respond on the announcement from last week to digest what are the implications. Bottom line is the investigation is done now and they just have to preset it to the exchange to justify re-trading in the next few months. They weren't very cleaver in paying fee's up front and didn't get the best deals on the consultancy but the BOD's are confident they will get returns. Only time will tell if this was a good use of company money but it does tell us the company is after growth into new markets and is using the IPO cash to get it. Without ay updates on opportunities, future orders, sales and profit its hard to tell what evidence they have that these payments have made. The report has confirmed they were not out off line payments for the industry and I am positive the company is looking at global markets as well as home growth in China, that surely has to be very positive. At the end of the day its the results that will show us the real progress of the company since suspension but at least they have a road map now to begin trading again. They need to clean up their act in the next few months, new auditor to release last years results officially and get this years ready to go, get the report to the HKEX and get this back on the trading floor. Lets just see what they have achieved results wise as they could deliver a stunning set of results or something mediocre, but they do seem to be aiming to be trading again when they are released which sounds positive to me.
Is that it!!!!!!!!... Months and months to produce that ! and still no date for trading, i hope this painful wait has been worth it
thanks for more information. I think given this was explored 12 months ago and Bioneutra has increased its losses overtime and revenues falling an acquisition would end any possibility of a dividend in my view. It looks a jam tomorrow project that does not appear to be gaijmning traction. You can argue consumers are incrrasingly against sugar substitutes and its going the other way in the Western world with growth of organic and i remember neutrasweet was a fad in thr early 2000s and dropped off a cliff never to be heard of again. surely CNEL should maximise the huge opportunity to grow their core business than buy their mates businesses. Have we not learnt our lesson the hardway already. I truly hope we do not go anywhere near this sort of acquisition as its likely a disastrous consumer of cash, a distraction and possibly another suspension waiting in the wings when India and China are massive markets. All for global partners who have existing relationships but it looks like CNEL is run for sole benefit of our beloved Chairman and his friends. Hopefully a big axe will be taken by auditor to stop these shenanigans.
As for getting suspension lifted, its now in the hands of the Hkex board. I am assuming that DLA piper know the requirements for lifting of suspension and enacted on all criteria. Therefore I would think that if the auditors get fy20 results and H1 results in and a new procedure for dealing with contracts then we should be good. Again DLA piper and new auditors will make this happen. A thick box exercise from here I would hope.
Bioneutra has huge potential. Long term shareholders here might know that cne built the production line for vitafiber in Edmonton canada. Mr Yu and Bioneutra ceo attended same college in china. Bioneutra would be epic acquisition for cne. Vitafibre is a fibre that tastes as sweet as sugar. Its molecules cant be broken down in the bloodstream so stays in gut like a fibre. Bioneutra opened a new office in Chicago last yr and appointed a woman who has worked for pepsi, nestle etc. If one of these companies were to take on vitafibre then exponential growth. I think cne could really push this in china. Especially among the beer manufacturers that it already works with. Are you sure that Bioneutra acquisition is off the table. I think this will happen eventually.
Bioneutra has huge potential. Long term shareholders here might know that cne built the production line for vitafiber in Edmonton canada. Mr Yu and Bioneutra ceo attended same college in china. Bioneutra would be epic acquisition for cne. Vitafibre is a fibre that tastes as sweet as sugar. Its molecules cant be broken down in the bloodstream so stays in gut like a fibre. Bioneutra opened a new office in Chicago last yr and appointed a woman who has worked for pepsi, nestle etc. If one of these companies were to take on vitafibre then exponential growth. I think cne could really push this in china. Especially among the beer manufacturers that it already works with. Are you sure that Bioneutra acquisition is off the table. I think this will happen eventually.
In reference to excitement of North America we paid £750k to Japan Chiyoda Kabu Limited, as per auditors resignation letter, for their sterling work to recommend buying Bioneutra global corporation https://www.bioneutra.ca/ for $7m and to this day i simply cannot see the reason? seemed to me a lot of money to spend on advice for this company and i think we lucked out to not buy them. Sums it all up really.
This will help on hurdles BOD need to jump through to get back their listing
“On 5 May 2021, the Company received a letter from the Stock Exchange (the “Letter”), in which the following resumption guidance (the “Resumption Guidance”) was set out for the Company:
(i) conduct an appropriate independent investigation into the audit issues raised by the Company’s auditors as disclosed in the announcement of the Company dated 31 March 2021, assess the impact on the Company’s business operation and financial position, announce the findings and take appropriate remedial actions;
1
(ii) publish all outstanding financial results required under the Listing Rules and address any audit modifications;
(iii) demonstrate the Company’s compliance with Rule 13.24 of the Listing Rules; and
(iv) inform the market of all material information for the Company’s shareholders and investors to appraise the Company’s position.
Overall it’s the best we could of hoped for and now it’s been completed, hopefully can get the suspension lifted. What are the next steps in terms of getting the suspension lifted? Is it just they need to release the accounts or are there other steps as well? As much as I would love a dividend, I’m not convinced it’s coming given the BOD we have. The Canadian company they refer to in the investigation is interesting. I’m assuming talks are still ongoing about acquiring that? Would certainly help the share price when we do relist if they announce a big North American focus. Agree with others that India is the biggest opportunity. It’s similar to China in that it’s who you know that gets you these deals though
Its all behind us now so lets hope the results at the end of February really addresses the future and delivers on dividend. it could change everything so we should keep up the heat until that is delivered and see if Mr Cai and the Chairmans other hand shakes have opened any doors. I also wonder how quickly the interims will be released as we cant get relisted until they are up to date and also satisfy all conditions from the HKex that spoke strongly of providing full updates to shareholders, that even since suspension they have not delivered. Could still be a long delay if the HKex pushes their key points of CNEL on transparency.
As I see it, mr Cai is an extremely wealthy man. The money we are talking about is peanuts to him. Therefore I dont think its corruption just business. This guy has his hands in many pies. He is a guy of influence nationally and internationally. With the tech we have all we need is to get it out there. Mr Cai in my reckoning is the man to push us skyward.
34 patents,
Top class ethanol tech,
new hydrogen tech,
Zolite dehydration membrane device,
1.5 gen tech......
£35 million in the bank.
Mr Cai, plz help us unleash the beast. Remember this time last yr someone block bought up to 20 million shares at 7.5p. Something tells me that will be seen as a bargain. Time to stop negativity. I exhausted every avenue to put heat on BOD. I will be offering them an apology next week after China new year. I recommend we all do. They are delivering. Lets start with a new clean slate.
*Mad!!