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previous dates mentioned this report should of been released by 22 may. so a week delay. i wonder if this will have a knock on effect towards the final 2021 results being published. so maybe recieve them next week. im surprised we havent have a rns stating a date when they'll be out or even the common board room meeting RNS.
maybe that rns will come out tomorrow now the report has been released. be good to see CNEL sticking to timelines or even an update at the least if theyre delayed.
Good news as the BOD are obviously trying to get this back on track now, Hopefully we can see the 2021 results shortly and we can then look to be up and trading again soon.
2020 report. will awaiting 2021 results. hopefully mon/tues.
https://www1.hkexnews.hk/listedco/listconews/sehk/2022/0527/2022052700210.pdf
Out
copy of a the previous statements....
"Publication of the announcement of the annual results for the year ended 31 December 2021 (the “2021 Final Results”) The Company anticipates that 2021 Final Results should be able to be published by end
of May 2022.
Publication of the annual report for the year ended 31 December 2021 (the “2021 Annual Report”) The Company anticipates that 2021 Annual Report should be able to be published by end of June 2022."
were running out of time for end of may with only a few trading days left so lets hope they are sticking to current timeframes. hopefully recieve an RNS tomorrow/ friday regarding a board meeting to discuss/approve results and maybe mention of a divi
rusty this isnt delayed its always been june.
end of may for results and june for report. then relist
I had a reply from Richard with regards to 2021 results and Cnel re-listing
“The chronology is that they have to publish the 2021 accounts and annual report. I expect this to al be completed by the end of June”
Although it seems further delayed, we are still moving forward ??
Is this really going to be relisted? I genuinely don’t know, but I’m pessimistic. I have quite a lot (for me) invested here, so I hope so. But the record of this company does not fill one with any confidence, sadly.
I do agree with many of the points above, however firstly all I’d like to see is announcement about a board meeting describing discussion of FY results as per timelines set out! If we start missing these then I start to worry..It needs to be announced very soon or May will have come and gone and then that’s when it starts to fill us all with that tinge of anxiety! Will we, won’t we.. Come on CNEL a couple more hurdles then all the above mentioned has true possibilities…
I remember it hitting about 1.2 on IPO launch before crashing when Double River started their mega dump. I think there will be a lot of sells when it starts getting up to this level. I don't think anyone would sell at 0.45 in light of the positive accounts, I certainly wouldn't - but there may be some resistance getting beyond 1.2. 1.2HK$ would be higher than it was in the UK before transfer. Let's hope and see what happens if/when we come back.
Rob it got suspended at $HK 0.45/0.46
Totally agree Simms, pretty confident this will come back now (although not certain), but it might not be the rockets and booms we all want (deserve!) - not initially anyway. There will probably be many investors looking to get out all the way up to IPO price so it will need something to push it up and beyond this - and without a dividend not sure where this would come from. Paying a first dividend will set a future precedent and will probably unlock larger dividends in the future as the company organically grows. They are sitting on plenty of shareholders funds. The alternative is to invest to accelerate growth - but there is no clear plan to grow the business that requires investing all retained profits and I am sure the hydrogen projects do not need £20m of investment at this point.
I'm sure the accounts will be positive and show further steady progress, but I think IPO price will be a ceiling due to the collapse on listing. I imagine UK investors see AIM 8p+ as a trigger which was about the sustained highest it got before transfer. As things stand I'd be delighted with IPO price and would probably sell my modest holding at this point - but if the timelines are met, profits remain good and a dividend is offered I would probably stay in a bit longer, maybe another year or two. I suspect I am not alone in this regards. The Control Review will also influence my decision making - especially if it increases independent thought and input on the board.
The Directors run this business like a fiefdom - and the length of (and reason for) suspension shows disregard for both the exchange and shareholders. Ignoring the rules of the exchange shows there is no accountability in the business and is the behaviour of a sole trader acting like an ostrich with a tax bill. They have definitely taken some of the worst of an AIM mentality to HKEX.
In my view without the dividend that Richard B has initimated is seriously being considered and long overdue we face uncertainty relisting as the market will simply, and correctly, identify the duo who own this company as not acting in investors interests. We will have accumulated over $40m in profits over the years held in reserves but currently have a market cap less than this. That us bonkers but the BOD own most of company so they decide. no one can take them over unless the BOD want to be so that dividend is really important if they want to be serious and grow their business and raise their market cap towards $150m where they could be and raise serious cash to expand. Anyway order book was big and not aware Covid had any impact in China back end of 2021. Lets hopefully see improved financials and developments in Hydrogen and 1.5 and 2. Need to keep up pressure on Ivy and team to try and get message to the BOD.
Plus 1 HK$ is worth about 10% more now than it was at suspension!
im hoping that these full results are in the same way as the 6 monthlys. Cnel has got most of thier revenue etc within the last 6 months of the year in the past so one would think it would be the same for this year.
lets hope your right topmoney and we see a confirmation rns which means they'll still on track and keeping up with previous dates.
i cant see a divi being agreed this time round. if the company are able to come anywhere close to the £10M profit and relist soon after creating a jump in sp all will be forgetten about the past 2 years!! just hopefully they can pull it through this mess and for once return shareholders value.
lets see $1HK on relisting for starters :)
Based on the fact that we got an rns on 3rd of may for 16th of may for the H1 21 results. I am assuming we are near getting an rns regarding the board meeting for the fy21 results in the next few days. The original schedule was that they would be released in the end of May. I think that ivy , Richard and the crew are being very quiet because we must be very close to getting to the finish line. Watch this space.
I think the results are impressively solid and show forward progress. I just don’t get the BODs reason for not pumping the news out of all the good stuff they are doing.
The only thing I can think is they are waiting for trading to be back online or they are looking to buy in cheap on the relisting.
Can we get your opinion. Richard Bennett is being very silent. He is completely gone off Twitter and never responds anymore. If we are still on track which we seem to be then we should get fy21 results by end of the month which is only 2 weeks max. With all results up to date, investigation over and 3 months to put internal controls in place then we must be very close to getting decision from hkex. I have asked ivy xu in an email whats the trigger point for the suspension decision. Management have to know at this point what last criteria is.
Nice set of results with a huge revenue increase. However the BOD really need to look at the gross profit as the cost of sales is appauling for a high tech business like this. Cost of sales 2020 - 70% and the latest results have eroded a further 11%, there must be some low hangining fruit there to go after i thought..... until i read this
The overall gross profit margin decreased from approximately 29.3% in 1H2020 to
approximately 18.3% in 1H2021. The decrease in gross profit margin was mainly due to a
number of sizable contracts which were priced at discounts for regular customers.
Discounts ?? I wouldnt mind seeing some more information on this please CNEL pro-rata thats 30 million in discounts, stright off the bottom line
excellent set of results. and like simms mentioned with a £10M net profit would put us on a PE between 3.25-3.5. thats crazy undervauled on a growth stock which has been growing profits year on year. if we were trading on AIM still that kind of profit should of made the SP jump to 15-20p (we got suspended around 5p /0.45HK$)
this is so undervauled its crazy. in any nornal market we shpuld be seeing an increase x3-x5 of currrent SP. but this is CNEL and although the BOD and chairman etc cleary knows how to deliver they lack on the communicating side of things and shareholders only find out how the company are looking every 6 months when results are published.
lets get back trading on the exchange CNEL. super set of results shouldbt go unmissed when we return to market
They spent about $4m and 4 years planning to move to Hkex. If they wanted to delist they had no better time to do that when they left the LSE as CNEL was worth tuppence. Instead they raise cash at 10hk on hkex and then screwed their countrymen over who invested as shares were 50% less before suspension. I just do not see this outcome be their intention. I would really like to see a video of either of the duo to understand who they are as they are clearly very capable but lacking entirely in basic investor relations as anyone would be talking about their growth story and Hydrogen etc in a big way. If board wanted to take private they could announce a share buyback and simply hoover all the cheap shares and use some of the $37m of accumulated profit.
It’s a good question which I have deliberated often, especially after being fooked over by Atlantic coal who did similar!
Excuse my ignorance. If CNEL are doing as well as this indicates, what is the incentive for them not to deliberately get de-listed, lose all PIs and help themselves to a big pay day?
But my goodness so much going on but nobody outside of the company would have a clue as we only learn about Yoga and coffee mornings. How is that allowed as surely it opens the company to claims of insider trading? However the numbers speak for themselves so the duo are thankfully delivering where it ultimately matters and numbers should get bigger based on that order book from the year end and from the further orders in this half year. if we hit $10m net profit this year we are on a PE of about 3.5. That is ridiculous for a company so far ahead in many respects and moving into Hydrogen and 1.5 and 2. They should have a PE of 10-20 or more? Had to chuckle, albeit cry, when i read 2 PR contracts miraculously returned all money to the company. Very benevolent of the recipients or they had no choice :) Marketing and admin are also down as i hope the auditors are keeping a close eye on our duo at the top and their nepotism etc. As expected our largesse of expense on "PR" in India has so far generated 0 sales but will hold back until we see the finals so there is still time for the duo to somehow substantiate some if any of their PR bears fruit. A rocket return to the HKex now greatly relies on the board declaring that final dividend for 2021 to show a sign of confidence and draw a line under this mess. Today they have more accumulated profit than is the total market cap of the company and that is absurd for such a fast growing company in some of the best growth markets today and in the future. will the board finally declare a dividend as it is long overdue and surely if they can boost the market cap by 3-5x this year they can carry out a placing and grow even faster. today their market cap is so low it is nonsensical to do a placing.