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https://www.scmp.com/economy/china-economy/article/3049821/coronavirus-chinese-province-orders-relaxation-excessive
"Zhejiang province has been the third hardest hit by the outbreak, but the key export and manufacturing base is urging local authorities to remove certain restrictions"
I'm glad I topsliced, as that's all my profit gone.
I'm looking to add, but this virus is still escalating, so I see the price continuing to fall. It should be a good buying opportunity though, hopefully.
i am still watching
114.92 GBX -27.88 (19.52%)
10 Feb, 09:51 GMT · Disclaimer
Just bought back into LUCE at 127p. A quick Google didn't reveal any bad news, so don't know why there was such a big fall. OK the manufacturing plant is in China, but the LUCE workers are several hundred miles from the epicentre of the Coronavirus outbreak. LUCE will be exporting finished products and not people, so shouldn't be any risk of transmission of virus to other countries from the LUCE factory.
Contact
1438 Jiachuang Road,
Xiuzhou Industrial Park,
Jia No.2 Gongti North Road,
Jiaxing City,
Zhejiang Province,
P.R.China 314000
???????????????1438?
Tel: +86 57383570202
Email: info@luceco.com
My guess is the virus; and I'm surprised it's taken this long to come about. I saw a couple of discussions on the virus over the weekend, and one said "China is effectively in lockdown." Whilst I am sure it is still possible to get goods in and out of China, no matter where in China they are made it is going to be a more complicated process; and commercial plane & ship operators will be cutting down on their services there (& doubtless having to pay inflated wages to staff on these vessels.) This means for Luceco to get their goods out of China the process will be more complicated, more expensive and take longer.
I am disappointed in Luceco's management. I wrote to them as a shareholder and suggested a statement about the effect the virus was having on their business would be appropriate. It's up to the BoD whether or not they do that, but I did expect an acknowledgement, which I have not received.
20% drop out of nowhere? Is there news or is this the virus
"How long you going to chat to yourself for?"
It's always nice to have an intelligent, appreciative audience.
How long you going to chat to yourself for?
The more I think about the situation in China the more concerned I am in the short term. Even if Luceco's factory is no where near the Coronavirus centre, 6 major airlines (at the last count) have stopped ALL flights to & from mainland China. So all forms of transport to & from China as well as insurance prices are going to rise, i.e. best scenario is a significant but hopefully temporary increase in transport costs. It's quite probable that supplies will be affected; and Luceco have spent a lot of effort over the last year in reducing stock levels. With every intention of getting back in I have now sold all my shares.
Thanks Gentlemen, or maybe gentlewomen. The reason I registered on this LSE was in search of a poster who I got on very well with & always welcomed his views when we both posted regularly on ii, before they ruined their site with their "enhancements." Someone told me he posted on here, but not found him yet - L K Hayman.
I thought I'd give it a go to ask the question I asked; and I've been very pleased with the response. Thanks again.
This site may be an improvement on anything else I've found for discussion boards, but I can't say it really excites me.
My interest in Luceco? I've been a shareholder for 2 years. My best purchase was at 45p. Recently taken some profits.
Although I was pleased with the recent update, I won't be adding any till the virus has stopped spreading.
Jiaxing near Shanghai
I don't want to put a dampener on all this positive sentiment, but does anyone know where Luceco's manufacturing base is in China? I've had a look at their website and don't get anything more than "China." Given China is increasingly in lock down over the Coronavirus, this could be a serious problem.
Well done your patience is paying off now... Very nice
Bought at 48p sept 18, doing well! +205% or so... think it'll keep marching on tomorrow.
154.00 GBX +14.00 (10.00%)
28 Jan, 16:35 GMT · Disclaimer
Oops, net debt to EBITDA, that is.
Does that mean they actually reduced it, given that EBITDA has doubled? I'm not sure.
But it's low anyway at 1X.
Operating profit doubled, operating margin doubled, FCF doubled and net debt halved.
What's not to like?
I've top sliced the 17% profit I've made here in just 6 weeks, but this seems a very well run company and an ecellent bet, imo.
Here from the 52 week low... Wish I held on to the few shares I bought at the low price last year. Never mind such is life
Peel Hunt today upgrades its investment rating on Luceco Plc (LON:LUCE) to buy
i expect least 10% up today
148.47 GBX +8.47 (6.05%)
28 Jan, 08:12 GMT · Disclaimer
very good update
trading update on 28/01/2020
RNS on 14 January 2020 at 14:23
Luceco plc confirms that on 10 January 2020, Apex Financial Services (Trust Company) Limited, acting as trustee of the Luceco plc Employee Benefit Trust (the "EBT"), purchased in the market a total of 380,856 Ordinary shares of nominal value 0.05 pence each in the capital of the Company at a price of £1.31374 per share.
Immediately following settlement of the above transaction, the EBT will hold 5,130,386 Ordinary shares, representing 3.191% of the Company's issued share capital with voting rights. All shares held by the EBT will ultimately be used to satisfy share awards and options granted under the Company's various share incentive arrangements.
Yeah, maybe with this, it could reach a little bit higher!!
LUCE could reach 250p in the future