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Started: winklebelly, 18 Jan 2024 18:41
Last post: Simms45, 30 May 2024 08:17
Some possible positive news for once. Seems cnel will purchase up to 10% of shares in a buy back. exactly what is needed as frankly $700k will do that. Just need to hope Cnel secure new business, which presumably they are doing given plan to do any repurchase. Should lead finally to upwards pressure on share price over next 6 months if theu do start mopping up the trickle of sells we have seen over the years. https://www1.hkexnews.hk/listedco/listconews/sehk/2024/0529/2024052900402.pdf
So results are in and very little to report. The recent debt for equity was only notable point when we ended up with 40% and while we wrote off £4m of debt to do so i suspect getting paid was not happening anytime soon. It might help. However nothing else mentioned about any new sizeable projects. For me the way they market themselves through their website tells you everything that they are not even trying. They rely on an opaque network that when it works it does well but when its down it does terribly. They have no other irons in the fire. They talk about over 40 patents but i do not see any new orders of merit in this first set of accounts. When they release final results it might change but it looks like another 6 month wait. Frankly its pathetic to have no interest in international sales given no english website and a website that looks it was built in 1999. They had potential but they do not even spend a few thousand sorting out probably their most important marketing asset. Year after year they squander sales opportunities but putting two fingers up to any other country outside the PRC. Why we can only speculate.
Its a bit like clockwork and you can almost set your watch by it. We wait 6 months with no news and then they issue a profit warning. Not entirely unexpected but looks they are writing off a lot of debts from suppliers, codeword for backhanders, but i move on. Board meeting is 28th. the other news was about our debt for equity deal that does appear to have been profitable so there might be a small glimmer of positivity, although our duo is joining the board so i do wonder what they are now up to. https://www1.hkexnews.hk/listedco/listconews/sehk/2024/0322/2024032201713.pdf
I just hope the cashflow is reasonable and this loss is more about tidying up the accounts and not about a lot of cash exiting the building. I remember years ago being concerned about impairments and i should have known where this was going once you understood how the duo operated with their mates and how deals were “organised”. We live and learn and we will need to hope the current year brings back a profit or we have some positive update in the outlook that takes the market cap above the current £7m.
I agree totally with Mr Simms a very clever assessment!
Thanks kevs
I try them 👍
Hi
II interactive investors i have my shares in
Hi does anybody know a brokerage who deals with cnel shares I need to transfer them from the Halifax
Much appreciated
Thanks
Started: winklebelly, 1 Dec 2023 11:28
Last post: Simms45, 18 Jan 2024 13:40
So turns out i was not exactly correct. this is a debt for equity. basically Zhongke Green owed us £5m and i guess CNEL understood they were not going to ever be paid. so they took a minority stake. obviously in current day £5m cash would be better than a stake in a loss making company. does not even appear they got a bargain either. what is most galling is they thought this could be done behind closed doors and never mention it to anyone. they got caught and needed to apologise. to me this is classic board approach to do as they please. we have no idea why we decided to write this debt off? seems very kind of us. if they instead talked about Zhongke Green in positive light we might have worked out it was a good deal but they have provided no information. the best spin on this is that we had no hope of getting paid from this company who might have gone bust so we hope this company wins some business and presumably CNEL will be supplier. we need to wait for final year results to see the numbers but we are almost at an alltime low so the market has rightly taken a dim view of the deal and the way CNEL handled this. I am slightly sick of waiting every 6 months for a sliver of information and have no idea what is currently going on as they simply provide no information. Great tech but terrible management. they could have been a global leader but instead squander the opportunity to line their own pockets with dubious deals behind closed doors.
I agree. I could not imagine investing today. If i understand correctly we have so much cash sloshing around we invested £5m for a 40% stake in another supplier. Last 3 years they kept on talking about preserving cash and no dividend or share purchase but they just invested more cash than the whole company is worth in a loss making company about which we know nothing. In fact i do not think anyone knew about in the company including RB. We just live in hope that the company turns around but even if they do if they never plan to do a buy back or dividend there is nothing for investors as its majority owned by the duo at the top.
What investor in their right mind would look at this company and think it is worth investing in given the behaviour of the board since it's switch to HKEX. They make zero contact with the shareholders, make no effort with PR, do the bare minimum to comply with HKEX regulations and release no worthwhile news on company progress. Nobody has seen any return from their investment and whilst the current board remain in place, the share price will continue to leak into pittance.
What the hell is going on with this share down 13%plus today this share is mind-boggling, any news is cloaked in secrets the shareholders are like mushrooms fed a load of s t and kept in the dark.
Started: winklebelly, 16 Jan 2024 21:49
Last post: winklebelly, 16 Jan 2024 21:49
I smell a rat the fat pigs at the helm are feathering there nest and the share holders are yet again shafted, just remember you enter this world with a bare ass and leave, with a bare ass.
Started: kevs4567, 1 Dec 2023 11:24
Last post: kevs4567, 1 Dec 2023 11:24
Why is there such a big price drop? any ideas? please
Started: Simms45, 23 Nov 2023 07:22
Last post: Simms45, 1 Dec 2023 09:17
Why was there no big fanfare of this “major” deal or press to support the positive benefits. It looked loss making, albeit profitable in the past. Positive spin is CNE must be drowning in cash and this deal will immediately drive a rise in profitability. Its possible CNE borrowed the £5m and Green owed CNE a lot of money so has now paid out what it owed. The other option is the CEO is up to his tricks and we find Green were best buddies from school and large backhanders are involved. Surely RB was all over this deal as non exec? He is supposed to have full oversight of deals and the new risk manager would have been involved. shareprice has dropped but its almost 0 liquidity so price movements happen with no volume. Can RB comment to provide clarity to the merits of the deal and that this is not a deal with brown envelopes.
It looks very risky and suspicious.
Wouldn't put anything past this board, based on their history of Deceit.
This is link if anyone else has any clues
https://www1.hkexnews.hk/listedco/listconews/sehk/2023/1126/2023112600015.pdf
I am still baffled why, when cash is precious, we somehow find £5m to buy a non controlling 40% stake in another supplier that did not make a profit last year. I am sure it will turnaround and there is some logic but at the same time my spider senses are thinking whether Green is not another mate of the board of CNE and hope someone is checking there are no backhanders going on here. Surely CNE has far better ways to invest £5m in its own company or tide it over for the next few years while it develops the pipeline. The company has not even whispered this news to anyone and from what it looks like were actually forced by the HKex to make the announcement as it does not look they followed protocols. Will CNE never learn but it has certainly shaken my approach to trusting what companies do and say as CNE are next level in deceit. my only hope is to recover my investment as while i can see so much potential the company seems at every opportunity to destroy that. where is all the PR Ivy said they were going to do and where is all the updates about news as this should surely be a major news item given we have just spent the same as our current market cap on another loss making company without even a whisper. i hope someone is watching the money flow.
Wait is over and basically CNE through our 100% owned subsidiary Zhongke Tianyuan has bought a 40.77% stake in a company called Zhongke Green for HK$57,898,000. That is £5m in sterling so quite a lot of change stating it will boost long term profits as presumably they were a supplier. Amazed we have so much money sloshing around as CNE is valued at about £5m so you would expect this deal to double our valuation but has barely flinched. How does company find that sort of money and not think it is better to buy back CNE shares? At least we know CNE is in great shape to pull this off but its all very odd if you ask me. Hopefully the start of being taken seriously by the HKex stock market as being an acquirer is generally positively received. The fact shares did not flinch continues to tell me the company is not making any effort to announce a major investment. No news on website but £5m invested for a large stake. Overall happy but underwhelmed by the share price that is 90% down on its HK IPO.
Started: Scenicview, 25 Sep 2023 09:06
Last post: Lockedoutpunter, 4 Oct 2023 06:40
Vastly improved communications would also help to raise the level of trust shareholders have in the BoD.
As you say patience will be required.
Topmoney did move to a facebook group sometime ago so i am sure you could find it. i do sometimes have a look but it is really a waiting game and hope the next results give us an indication we have turned the corner. We have to get the Ethanol firing again as that is the backbone of the company but they have so much R&D and a pilot project in Hydrogen so we are in the right places but just need to steady the ship and stem the losses. At some point China and the rest of the world will all move to E10 as standard but China seemed to roll that back during covid. Share is very steady for now so i am confident we will push on if CNEL announce any big deal in Ethanol and return to profit. i hope they do and do not wait until next interims as the 6 month gap is painful without any updates except garbled news on the website.
Thank you for all your posts, Simms 45.
Really it's the only info we get for CNEL
You have filled the gap left by Topmoney
Best regards,
Share price has been flat for 7 months now since the jump in February from .12 to .18 so i suspect a lot of people have been trickle selling into that moderate rise. While i dont expect any news for another 5 months if a deal with Sunbird can happen or something else it could really help change momentum but we seem to be deep in the doldrums and just so little volume. The company are hibernating and does not appear capable of providing any meaningful update to shareholders. i will give it 12 months to see if anything can happen as without news we have no volume and we simply the trade sideways around .16.
Congratulations Scenic.
At very least you will no longer have the stress and worry of being in CNEL
Best regards,
Started: gusters, 18 Sep 2023 14:04
Last post: Lockedoutpunter, 21 Sep 2023 20:54
Im also in a similar situation. Holding over 108k shares. MM's tried to force me to sell up 2hrs before the move to HKex, offer of 2p when shares were at 16p in UK
Now in limbo, can't trade. Cant buy, cant sell.
Get no sense from broker( Ig'nor ent lot) Held in limbo since the move to Hkex.
Don't trust the Bod any longer.
They offer very little information as to the companies progress or future.
Not really sure where we go from here. Difficult to get any advice.
Hi, I'm following this thread for a while, some years ago I bought CNEL shares (30,000); at the moment it looked like a good investment (no idea what I was thinking back then); must have been the companies range of business and growth I saw in it, or some tip I read somewhere. Anyhow, since then it all went weird, the stock changed from London to HongKong, stock was 'frozen' and when it went back on it seems it kind of lost all of its value. In my case I even am not able anymore to trade the share, as it is stuck in some kind of Limbo with my online stock broker, making me I am in in the long term anyway since I can trade the stock again. Last months I saw the stock rise from 0,8 HKD to 0,16 HKD. I wonder how you see the future for this stock, could this prove to be a good (lol) investment in +10 years, or are chanches bigger the company will go broke?
Started: Scenicview, 19 Sep 2023 08:29
Last post: Simms45, 20 Sep 2023 19:12
I think most regret investing in CNEL after what has happened, not just from the perspective of the share price, but also that we have money tied up with a board who, as you say takes part in culturally dubious activities. The jump to .16 was out of the blue and we still to this day have no idea why. Shares normally need to explain why the shares double in a day but not in Hong Kong. We are valued less than £9m so for me that seems low and i hope better times are ahead as we were led to believe that from start of year things have started to improve and company has plenty of patents and some decent R&D projects. i think i will hold as i cant believe the next results will not show some positive momentum and there is talk that there is a big project with Sunbird that might come to fruition. however the suffering of no news every 6 month and then reading a report that has almost no news in is depressing.
Above all strctly IMO of course. Scenicview.
Started: Scenicview, 19 Sep 2023 08:17
Last post: Scenicview, 19 Sep 2023 08:17
Same situation. Bought in early based on the technology, the business opportunity and the hype on AIM. Lived through all the shenanigans with move to HK, locked out for many months, owners found to be fraudulent and more. Somewhere in the company background there is a person with an english name and there is a secretary with a chinese name. From time to time we get scraps of info from them. For the rest its pretty much full opaquicity. No notion of running a publicly quoted company whatsoever. With the background of China slowdown and un-verifiable business case, layered with suspicions of culturally driven business practises I'm finally getting out. And that is proving to be a challenge also.
Started: Simms45, 29 Aug 2023 17:24
Last post: Simms45, 29 Aug 2023 17:24
Https://www1.hkexnews.hk/listedco/listconews/sehk/2023/0829/2023082901535.pdf
generally speaking the results do not really tell us much about future prospects only that the 6 months up to 31st June were lacklustre but they signed 16 contracts. They are still owed quite a lot of money so they need to be working hard to collect that but we have net assets of £18m or so and that is double market cap today. obviously without sharing news on value of any future contracts signed and any indication of future revenue it is hard to know whether they have turned the corner. When they release the final results PDF to investors this sometimes has more information but is a shame they are not divulging anything for investors to have more confidence in the business going forward, although i sense things are improving but key really is that company has reasonable cash and assets and working capital and really they need to secure some decent contracts and promote heavily their test projects to build their investor footprint. Sadly we know the score and they appear unable to do that but at least there is no delay to the accounts and hope that we get some uplift as locals find out new contracts that we do not. i am still unsure why we doubled earlier in the year so if we get another day like that sometime over the next few months that would help put me back to breakeven.
Started: squidsin, 25 Aug 2023 14:07
Last post: Simms45, 26 Aug 2023 00:56
I think the market has taken the profit warning almost positively as today volume was mostly buys but the current market cap is so low that really any positive news they might want to share would have a bug upward impact. Certainly CNEL need to give a forward guidance as obviously things need to turn around but we accumulated high levels of profits in the past and as long we we continue to get payment for past work we should keep the cashflow looking positive. Just disappointing this is probably going back in the bottom draw for another 6 months and hope in the meantime the board can focus on communicating with shareholders and customers.
What is so frustrating is the lack of update on anything. How on earth they plan to grow operating as a hermit company is hard to fathom. Looks a £1.6m loss so not terrible but not good given i think Richard B said business was good since New Year. Key is in detail and whether the bod are playing with a straight bat as they are not trustworthy but hopefully NEDs are keeping a close eye but they have good tech but sadly not sharing or capitalising on that. I think market cap is so low that this will not have any impact but could be another 6 months before we learn anything.
Looks like Fat Heron's stuck in the trough again and Mei Ling's undercharging her clients.
All eyes will be on interims due 29th August as last 6 months really nothing had been shared but anecdotal that business was busy and so forth. Really quite bad given plenty must be going on that could and should be shared. Shareprice has jumped a little today so it might bode well in leadup to results next week as i am sure locals know a lot more than anyone else. Lets hope contracts and progress achieved and market cap today is bonkers at £9m or so if cnel have steadied the ship and made a profit we should see a decent re-rate.
Does anyone have any news on this lot at the moment? as its very quiet in here
Started: Simms45, 26 May 2023 11:35
Last post: Simms45, 26 May 2023 11:35
While very little news has been released i am still unsure of the news that led to the doubling in the share price a month back. There has been no news i am aware of. surely when a share price doubles the company should be available to provide some news as it did not happen by mistake. The key at the moment is that the trend is positive and we are about to hit the recent high of .189. Would like to see us back to .45. We just need some have decent news as we stand at sub £10m valuation and that is still very low and to my knowledge CNEL were booming from the end of 2022 so 2023 should be a good year and back to profitability.
Started: Simms45, 8 May 2023 20:39
Last post: Simms45, 8 May 2023 20:39
I have always been suspicious of the business model of CNEL as they differ considerably to business in the UK and elsewhere that when a company signs a contract they pay in advance for materials and fabrication and therefore protect the company should the client subsequently not pay their bills or cancel the contract. This is standard business practice but it appears CNEL effectively gets paid for materials in arrears meaning that we can only support deals relative to the amount of cash we have. if you read the 2022 results we had about 50m RMB / £5.5m of impairment losses that roughly translates to products shipped to clients that were subsequently not needed or shipped back and then independently valued at fair value and written off. That is crazy how CNEL operate as it opens us to massive financial risk. clearly any kit sent back from the client has almost no value as it will be bespoke. It maddens we have big impairment of £5m when the company is not willing to even buy back $500k of shares, worth less than 10% of their incompetent management? However it has also got me sadly thinking, based on slippery deals the bod got up to, that if you were up to no good a great strategy to get money out via the side door is a cosy deal with an end user to agree simply credit certain invoices and call them "impairment" and have a nice split of proceeds on the side? i hope not but sadly the board were caught red handed, albeit they fudged a way out, but someone explain how they can have £5m impairment charge in one year? Our retained profits have been hit hard and i worry the board are up to their tricks using a different strategy away from the auditors arms.
Started: Simms45, 8 May 2023 18:03
Last post: Simms45, 8 May 2023 18:03
Ivy responded regarding the share buy back they agreed in December. it appears that even though the board were fully aware of the business profit in December when they voted for a share buy back it now appears they are rowing back on this as Ivy said they are not planning to do it now. What has changed or did they ever plan to do it? You might question where has the last 7 years of accumulated profits gone and why cant they find even $500k to but back up to 10% of the company at a 60% discount to NAV? Surely it is no brainer unless the company has done something else with our profits? I am starting to think the auditors need to check on profits and find out the whererabouts as currently we have less projects that at any point so theoretically we should have the most cash?
Started: Simms45, 29 Apr 2023 09:03
Last post: Simms45, 4 May 2023 15:42
I recommend anyone to write to Ivy and request why the board made a decision to buy back 20% of shares but 5 months later have not done anything. We trade way below nav so its considerably improves shareholder value. Even a $1m buy back at current levels will make a considerable improvement to earnings per share. they said they would so why have they not done it yet?
i have sent several emails over the years to Ivy with limited response. I did see this so apparently we might need to write to their place of business in HK. I am tempted to try that as while my questions are very valid i have rarely had a response.
"Putting Enquiries by Shareholders to the Board
Shareholders may at any time send written enquiries to the Company for
the attention of the joint company secretary at the Company’s principal
place of business in Hong Kong. The Company will not normally deal with
verbal or anonymous enquiries.
Started: Simms45, 29 Apr 2023 09:01
Last post: Simms45, 29 Apr 2023 09:01
the 223 best seller is out for anyone who can wade through it. http://iis.aastocks.com/20230428/10715383-0.PDF
I skimmed the first 40 pages and copied a few bits that do differ slightly to the earlier version. They do not really give much away about the future but i hope the next update is more substantial and they do start the share buy back as they agreed to do recently but nothing has happened so far :
"It is expected that China’s economy will experience a steady trend of recovery in 2023. The “14th Five Year Plan” Biobased Economy Development Plan was issued by the National Development and Reform Department which will ushered in new opportunities for development of green and low-carbon technologies such as new biomass
energy and biochemistry. The current development prospects of the Company’s industry should be more optimistic than that in 2022.
It is expected that China’s economy will experiencea steady trend of recovery in 2023. The “14th Five Year Plan” Biobased
Economy Development Plan was issued by the National Development and Reform Department which will ushered in new opportunities for development of green and low-carbon technologies such as new biomass
energy and biochemistry. The current development prospects of the Company’s industry should be more optimistic than that in 2022.
The Company has been deeply engaged in the bioenergy industry for many years and has developed certain cellulosic ethanol production technical solutions which can provide the technology and equipment required for industrialisation. The Company will continue to optimise its cellulosic ethanol technology and
build demonstrative projects under the mature administrative policies and
market conditions.
. One of them is a major project of the Ministry of Science and Technology concerning the vehicle and jet fuel synthesized by hydrothermal depolymerization and carburizing of biomass (RD064). In 2022, the manufacture
of pilot plant was basically completed, and it is expected that all trials will be finished in this year. In turn, we will obtain important technical data and equipment manufacturing experience, laying a solid foundation for us to achieve vertical and in-depth development of ethanol intensive processing industry chain. Another one is a major science and technology project (RD061) in Guangdong Province, which is carried out by our project team in close collaboration with a project team organised by various universities. The design and manufacture for the equipment have been finished. Currently, the construction of plant is carried out according to the processing plan, and the entire trial is expected
to be completed within this year. This will help the Company to prepare for meeting the technological requirements of national carbon peak and carbon neutrality strategy for bioenergy and green chemical production."
Started: Simms45, 29 Mar 2023 10:51
Last post: Simms45, 1 Apr 2023 09:45
I think this paragraph is about we will get on future strategy and the talk on Hydrogen is all in the right direction but dissapointed there has not been more talk on actual new projects won post 31st December as the shares doubling was due to something? Little guidance on return to profitability. If the annual report aimed to damp enthusiasm and now company will buy back 20% of shares now is their chance as they really have not made much effort. I really hope they seize it as the company cant be worth any less than they are today.
“Business development strategy
In the next few years, with the world’s attention and commitment to carbon emission reduction and carbon neutrality and China’s dual carbon goals, application and development of new energy production technologies will enter into a new era. The Company will seize this historic opportunity and actively develop new technologies and new business given its leading position in the industry.
The Company aims to maintain technical advantages in the fuel ethanol market. Through our R&D efforts in the cutting-edge 1.5th and 2nd generation cellulose ethanol production technologies, hydrogen energy production technology, as well as high- carbon ethanol production technology through ethanol intensive processing and related equipment manufacturing, we shall be able to increase project income from cellulose ethanol, hydrogen energy industry and high-carbon ethanol equipment manufacturing in the future.
Looking forward, the Company will further strengthen the building of our marketing team, continuously improve the depth and breadth of sales network, maintain good relationships with the existing customers and actively acquire new customers. The Company will also proactively explore investment opportunities in related industries and increase production equipment manufacturing and technical service income from other chemicals in order to expand the current revenue mix.
Our R&D activities will focus on fuel ethanol technology, super grade alcohol, hydrogen production and equipment manufacturing technology and related chemical production processes. So long as our technology is ahead of the curve, the self-owned intellectual property will eventually convert into income from businesses of the Group.“
Yes. Not exactly talking strongly about the order book post December 31st or projects landed as we are told they are going guns by RB and Ivy so given we were almost 1/3 of the revenue in 2022 compared to 2021 that means something. Also no talk of the share buyback at all and you wonder why the share price doubled if the company did not buy back any shares. Presumably CNEL landed something big about a month ago to warrant that rise as the volume was unusually high? Why do some people have information to trade on and we do not have that in the public domain. At least we are not suspended again and it looks the changes in the way impairments are applied accounts for some of that loss. there was news on their R&D that obviously puts the company in the great place in the future and they have finalised some testing but it felt like it was years away before commercial orders. I hope the talk of Hydrogen and storage gives the company some growth as it is a massive but they seem to play down growth of Ethanol, which is odd as the rest of the world of Ethanol is booming so they feel a little to PRC focused and not looking at countries pushing E10 as standard. this may be going in the bottom drawer again sadly unless the board trigger the buy back or share news on project wins then pis have little to go on as today only insiders have the trading advantage. still today we have no idea what triggered large volumes of buys last month and that is incredibly frustrating.
Finally issued, 22.05 local time. An unexciting read!
Am I right that results have not been issued today after all?
15%up today, strange with a profit warning? Be interesting what we wake up 2 In the morning
Started: Simms45, 28 Mar 2023 00:12
Last post: Simms45, 28 Mar 2023 00:17
I also hope impairment charges are not just a different word for back handers to the duo who were caught handing out excessive made up contracts to their mates. Lets hope the new auditors and risk team closely look at those “impairments” as its a blind spot. if the company CNEL are dealing with are solvent how can any of these companies somehow have a haircut on what is owed. Lets see how the future looks, if we are allowed to know anything.
While not exactly unexpected i am not sure why CNEL today issued a profit warning. We knew 1st half of 2022 was bad and most of 2nd half so its not exactly unexpected. For me what is annoying is that they do it to maximise fear around the stock when we are told it has bee stellar since Covid restrictions ended towards end of 2022 but nothing mentioned in thr profit warning. Sometimes you think the duo are doing this on purpose. https://www1.hkexnews.hk/listedco/listconews/sehk/2023/0327/2023032701660.pdf i only hope reports goes into more details on its future and not dwell on 2022 that was a one off event. It looks around a £4m loss which in many ways looks pretty good all things considered if 2023 takes us back to serious profit again. We will see but i hope they go all in on a 20% share buy back but they must open up on order book in 2023 and more details on their tech as for me they are almost hiding details from shareholders. I still feel the duo are up to something. Hopefully results will give a more robust update on the future as Ivy and RB have openly reported.
Started: Simms45, 16 Mar 2023 12:34
Last post: Simms45, 20 Mar 2023 14:58
Soon find out as results due out 29th March. I dont know how the loss making period will factor into our result as its final results to 31st December 2022 and stellar order book might not be showing fully until 2023 year but i am most interested in forward looking statements, state of share buy back and even a dividend but that seems unlikely but if they want to grow the market cap they need to start doing basics. Certainly feel we are due another double to get back to net assets. if they have cracked hydrogen storage, zeolite membrane and all other technical developments we are sitting on a rocketship if the duo care to climb aboard than get up to tricks with their mates again.
She has been associated with some delisitings in her time!!! Let's hope third time lucky!
Hopefully keep the duo out of mischief.
The board (the “Board”) of directors (“Directors”) of China New Energy Limited (the
“Company”) announces that Ms. Wong Mei Ling (“Ms. Wong”) has been appointed as an
independent non-executive Director, a member and the chairman of the Audit Committee, and
a member of the Risk Management Committee of the Company with effect from 15 March
2023.
Ms. Wong, aged 61, obtained a master degree of Finance of the Curtin University. She is
a member of Hong Kong Institute of Certified Public Accountants and has over 20 years
of experience in accounting field. Ms. Wong was an independent non-executive director of
Global Token Limited (the shares of which were delisted from the Growth Enterprise Market
(GEM) of The Stock Exchange of Hong Kong Limited (“Stock Exchange”) with effect from
20 April 2021) from December 2016 to April 2021. She was also the chief financial officer
of Sun Television Cybernetworks Enterprise Limited from July 2011 to January 2016, and
the financial controller of Up Energy Development Group Limited (the shares of which were
delisted from the Main Board of the Stock Exchange with effect from 5 January 2022) from
September 2006 to July 2011.
Started: Sharpnet, 15 Mar 2023 08:01
Last post: Simms45, 15 Mar 2023 09:13
Love their cryptic news updates but looks very promising :
“ in-depth exchanges on further deepening cooperation and other matters.”
maybe this was connected to recent rise although i am starting to think Cnel is stealthily buying its stock and maybe another step will happen, although final results are maybe 2-3 weeks away so hoping for some meatier information. This news is big in so far we built a 400k project and many more to come in co-operation with Eleventh Construction. I am confident we sill step up again by results day as we cant go lower frankly as company is still practically worthless so i can see is using back go .45 soon and if Cnel carry out buyback, announce return to profit, good order book then maybe just maybe declare a dividend as that i feel is only way to bring valuation up and prove board are working for all interests.
Mr. Li Guangming, Chairman of China Chemical Engineering Eleventh Construction Co., Ltd. visited our company
On February 21, 2023, Mr. Li Guangming, Secretary of the Party Committee and Chairman of China Chemical Engineering Eleventh Construction Co., Ltd., and his party visited our company Guangdong Zhongke Tianyuan New Energy Technology Co., Ltd. and the Guangzhou Institute of Energy Research, Chinese Academy of Sciences.
Mr. Yu Weijun, chairman of our company, extended a warm welcome to the arrival of Mr. Li Guangming and his party. The two sides conducted in-depth exchanges on further deepening cooperation and other matters.
At the meeting, Mr. Yu Weijun introduced the development plan and research results of our company and the Guangzhou Energy Research Institute. He hoped that the two parties would deepen cooperation in the general contracting construction and industry of new energy, new materials, medicine and other businesses, and give full play to their respective advantages , to achieve mutual benefit.
Mr. Li Guangming introduced the history, operation and development plan of Eleven Chemical Construction Company. He said that in recent years, as the "vanguard" in the field of China's chemical industry engineering construction, Eleven Chemical Construction has been committed to intensively cultivating the main chemical industry, constantly innovating technology with refined management, and achieving diversified development. It can provide investment, financing, design, We are willing to carry out deeper cooperation and joint development with our company and the Guangzhou Institute of Energy Research of the Chinese Academy of Sciences to achieve a new win-win cooperation situation.
The cooperation between Zhongke Tianyuan and Eleven Chemicals in the COFCO industrial alcohol project in Anhui has achieved results, and the large-scale hoisting construction of the 300,000-ton industrial alcohol project has been completed.
China National Chemical Engineering Eleventh Construction Co., Ltd. (ELECO) was established in 1962. It is a wholly-owned subsidiary of China National Chemical Engineering Corporation (CNCEC) (stock code: China Chemical 601117) managed by the State-owned Assets Supervision and Administration Commission of the State Council. The registered capital is 1 billion yuan.
Started: Jmtruelove002, 22 Feb 2023 06:36
Last post: joey_b, 6 Mar 2023 20:52
I haven't seen any evidence the company has changed its tune since it started trading again. A one day increase is little to get excited about as far as I'm concerned. It may have nearly doubled from pitiful lows over a short time frame but its still got a mountain to climb. No news or engagement is standard practise here.
Results out April and so far we doubled on no news, unless you are close to the duo, but must assume something is going on. Regardless of all the unbelievable shenanigans they have projects and tech coming out of their ears so something has to stick. While the Covid period smashed our ability to deliver none of those projects were mothballed just put back which means a stellar period that Ivy confirmed. Therefore i have no idea on current profitability as i think China only turned the corner proper in October but if raw numbers stack up then there is no reason we should not get back to .45 suspension and onwards if they actually give some more forward guidance, agree to a 20% buyback and announce a dividend. Do all that and we would be 15p and directors can then do a tasty 10% placing and we are all quids in. Only question is my painful memory gives me low confidence the duo will do anything of the sort. I am sure they have organised that disastrous purchase of Canadian company with one of their mates and getting a boatload of backhanders to overpay. Sadly this duo cant be trusted with anything after all they have got up to. Gow poor old RB looks them in the eyes i have no idea but sounds this behaviour is normal in China where this is normal business practice.
Hopefully the slow and steady climb back to IPO price is underway. Think it will take some time and there may be some bumps in the road, but hopefully the worst is now behind us. Not sure how a share that has been largely static and traded a range since relisting can leap up over 40% in a day without any news (not that there seems to be any kind of requirement to report news on HKex nor any desire from the BoD to disclose any). Maybe a buyback has begun and isn't just words in the Annual Report
Did anyone have balls of steel to buy around .1 as i am sure most of us felt it was a crazy low and all chances of a decent rise was likely. I have plenty invested so i passed simply based on no trust in the duo who have never been transparent, managed business for their personal benefit and never offering a dividend on buyback. time will fade their history and hopefully new shareholders come in to replace the jaded historic shareholders. If we had the board this company deserves we should be 10-20p in old money even with our bad year. If we get double again in coming weeks at least some small sigh of relief we get back closer to .45 before we got suspended. how the duo basically got through all that and still we have no knew board members of merit or business changes for investor relations i have no idea. Anyway get back to IPO price and ill have some bout of amnesia about the past.
Back to tuppence in old money. A long way to go as we still trade below our reserves of cumulated profits by some margin. I have been pushing a while for board to do a share buy back and RB was apparently heading to China first time in 3 years to hopefull give the duo a good spanking. If volume is 18m today probably 60% of that is buying so maybe that is £200k so not small change. Not sure i am correct but we have been super quiet for months so looks out of place with no news. Can really only be part of buyback but they have incredible tech but any update should be positive based on the horrow show past.
Last post: Goodbana, 21 Feb 2023 16:33
Long term holder here of this painful stock!! I didn't transfer my shares when the move took place. I held them with HL and the shares are now held with HSBC. Can anyone recommend the best broker to transfer to?
Hopefully good news ahead for you all here as its fully deserved. Shocking behaviour from the board in recent years. Goodluck all.
Started: Simms45, 31 Jan 2023 14:43
Last post: Simms45, 21 Feb 2023 09:23
Bit of volume today and ticked up to .14 so while still massively under our net assets hopefully start of re-rate as bad results are built in but its speed CNEL will bounce rate to pre pandemic revenue and profits that are of interest. Still hoping board agree to buy back shares up to .5 as that would still be 50% discount to IPO. Then in 12 months, hopefully when they are back to IPO value, to do another 10-20% placing but they have the tech and the expertise and they just need to add people to the board who can present and market the company better internationally and grow business and keep a close eye on the duo and their penchant for awarding contracts to mates or proposals to buy mates businesses. That has hopefully been stopped.
OK, April it is. Meantime RB or Ivy are very welcome to send a few pearls toward their long suffering shareholders.
Thanks for the feedback.
I think the company resilts are April. Frankly the management are entirely to blame for current share price from previous dubious activities through to complete mismanagement of company PR and transparency. The last 18 months of Covid in china have clearly taken their toll on revenues. However if you read some of the latest news there is plenty to be confident about. In one recent news after saying they are working on 3 battery related projects :
“ These contracts have opened up the application market of ethanol products in the field of lithium battery electrolyte for the company, and opened up a new energy business growth point. We believe that with the maturity of our company's technology and the demonstration effect of the above projects, we will attract more and more customers and bring new orders. ”
Also they talk positively of oversea expansion so CNEL in next 12 months can easily bounce back to historic revenue and profitability but really that share buy back is long overdue and this is a tiny cost to the business having raised money 3 years ago at 9x cost so a bargain. If they bought back now at .1 in 12 months maybe they can do a 20% raise at .9 and have same. number of shares as today but considerably improved cash in the bank. I am holding next 6-12 months to see if finally company can do one thing right for pis. Frankly i dont hold much hope but if all doors for management are blocked to get money out the side door and auditors watch closely friends and family contracts they might conclude taking a dividend is only way forward.
“The epidemic is gradually returning to normal. Projects in Thailand, Indonesia and Myanmar, which have been suspended for a long time, are gradually resuming implementation. Overseas business development is also gradually returning to normal. Currently, we are negotiating with China Energy Construction International Construction Group Co., Ltd., a well-known enterprise in the energy field, for some overseas projects. cooperate.”
You put the counter case well. Can you tell me when next results are due and next reporting dates. i'm trying to figure out whether to hang on and what for.
Well cnel went to all the considerable trouble of first listing in London and then HK and raised money on both occassions. They are clearly keen on getting investment in just not paying it out. I understand the $30m or so is used to front up bigger projects so i can see why they dont want to pay dividends however if they raise capital on markets and sign legal agrements on conduct expected then they face a significant long-term damage as seen by Cnel delisting and market cap of a semi in London. Their only saving for themselves is their controlling interest and how that might have enabled them to extract incomes through 3rd parties in the past. Going forwards they have limited options but play clean and RB, while can be seen as the useful idiot, i am sure he is trying to bring basic manners to how investors are treated. all i know if we have a £7m valuation and if they sold up today we would have £25m at least in cash leftover. Ivy has said future is good and how can it not be? Ethanol is booming all over the world and while DRC has locked down badly surely their will be pent up demand that should mean Cnel recover revenues and more. The only thing i hope is cnel buy back 20% shares at 90% discount to IPO and in so doing the owners shareholding will rise by the same proportion and share price will recover to maybe 2-5 HK. i agree i learnt a big lesson on transparency as i simply have never come a company that hides its wins and benefits to the market making its life considerably harder. The most baffling, shoot yourself in the foot, company i have ever come across.