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Date of article: Tuesday 26 Jan 2010 2:46 AM ET Extra Reserves for China Banks Take Effect, Markets Hit "knee-jerk selling of Asian stocks" http://www.cnbc.com/id/35070681
Date of article: Sunday 10 January 2010 19.52 GMT China becomes world's biggest exporter, "Chinese economy on track to grow by 9.5% in 2010" http://www.guardian.co.uk/business/2010/jan/10/china-tops-germany-exports
Trading Update - 11th Jan 2010 Sinosoft, the China-based developer and provider of software and IT solutions to Chinese regional and national government agencies and exporting enterprises, is pleased to provide a trading update for the financial year ended 31 December 2009, ahead of the publication of the Company's preliminary results for the year which are expected to be released in April 2010. Following the announcement of the Company's interim results on 23 September 2009 the Company has experienced an improvement in trading conditions. Whilst the economic environment and operating conditions remained tough, trading in the second half of the year improved across the business specifically in export tax and e-government, where the Company has managed both to build on its sales of value added products and secure new e-government contracts. As a result, the directors are of the opinion that revenue for the year ended 31 December 2009 is expected to exceed current market expectations. Competitive trading conditions, marginally higher than forecast operating costs and a slightly different sales mix have suppressed margins; improved sales have resulted in profits after tax being broadly in line with market expectations. Ms Xin, Chief Executive of Sinosoft, commented: "I am delighted the Company has had a successful year despite tough economic conditions and look forward to the publication of our results. We will strive to build on this momentum during 2010 in order to deliver maximum shareholder value." -ends-
I would love the share price to go down a bit so I can buy some more!! Don't think for 1 minute that I want it to fail, the reality is though that they have so much cash in the bank that the share price can not go much lower than it is, it just wouldn't make sence. Basically what we have with Sinosoft is a company with enough cash in the bank to warrant its market cap alone and in addition to this all through the global down turn it has continued to win contracts and turn in a profit, the bulk of which it keeps back for future investment but still pays out a reasonable dividend. And all the time it is just waiting for China's govt to restart the big Export Tax contract that is a real money spinner. Whoever just bought 250,000 shares at 8.7p can expect a 0.31p dividend which is 3.5% and the prospect of the share price getting to 20p in a couple of years time and beyond that if things go well. You reckon it might be Guy Thomas, I really don't know but what I have noticed, and I have posted this before, is that everytime the share price settles you get the typical bored PI's selling off their small holdings, the share price drifts down a little way but before it can get very far someone mopes up all the spare shares. It wouldn't surpise me if this 250,000 purchaser is just adding to what they have already got over the last 3 months or so.
I didn't want you to feel lonely on this BB. I too noticed this large buy - I wonder if it's our friend Guy Thomas. i thought you were talking down this share a bit so you could pick up cheaply. Please don't I would like it to go up! Hopefully 2010 could be a good year for SFT.
...and just as I thought we were going to drift back down to 6 or 7p. 250,000 shares purchased at 8.7p per share which is about £22k in value and that one purchase alone has moped up all of the sales for the past month. Doing some trend analysis on this share shows that the most recent 10 and 20 days trends are downwards but the over-riding 50 day trend and in fact since as far back as March 09 is overwhelmingly upwards. Looking at the 1 year chart there is an almost linear increasing support trend for the share price. I reckon that if the next RNS / trading update is a favourable one then we will be through in to double figures for sure. I was hoping that it would drop down to below 7p so that I could top up with more shares without raising my average to much, oh well, I'll just stick with what I've got.
Dangers of an Overheated China By TYLER COWEN Published: November 28, 2009 http://www.nytimes.com/2009/11/29/business/economy/29view.html?_r=1&em
I don't think this share price takes any notice of anything, from April this year it has just steadily gone up and up, everytime it looks like faultering and falling back it just carries on going up. Economic news - no effect Large sells going through - no effect Anybody would think that this share is being marched back up in price, I would expect to see a correction back to say 6p or 7p but everytime it drops back a bit the shares get bought up very quickley. Do we have an investment company building a stake perhaps? Until there is an announcement we won't know.
PANIC - sell sell sell, going down Looks like someone is unloading a load of SFT stock on the Plusmarkets, see the link below... http://www.plusmarketsgroup.com/data.shtml?ISIN=GB00B0XJRD53/GBX/PLUS-exn
Here are some recent web articles - some very recent some a bit older. IT Services companies in China making a move.... http://thescotsman.scotsman.com/market-reports/One-to-watch-Hopes-up.5641206.jp http://finance.yahoo.com/news/CDC-Global-Services-Reaches-bw-570854850.html?x=0&.v=1 http://www.articledashboard.com/Article/Investing-in-Sinosoft-Technology-plc/1167923
looks like the share price is showing a bit of resistance getting in to double figures, we will just need to wait for the full year results to show an increase in profits and then it should push through next year.
Buy or Sell, some regular activity would be nice, I sometimes think that nobody knows about these shares! Don't take what you read on these boards too seriously - its all just banter and people's personal opinions, anyone investing should always make their own judgements as to when to buy or sell and what companies to invest in. No one can say for sure what the future will bring. I am a believer that the recent past gives an indication of where people think that things are going so a good trend on a share is always comforting to have but not a sure fire indication. I think if you check out the 5 year chart for Sinosoft that says it all about where this company has been and where it looks as if it should be going.
So you and Guy Tomas are in good company. Bit strange that you were encouraging peole to sell unless you wanted to buy some more at a lower price! Good positive feedback from you this time and i totally agree. Hope you are right.
yes I do hold SFT, enough so that a 1p rise means £10k gain on my portfolio (and a 1p drop mean a £10k loss) Fortunately I bought in much earlier when the price was a lot lower. On a lighter note it looks like the lemming had go-go-gadget lead boots fitted with springs so a rebound is on the cards. My background is IT consultancy and I know that as Sinosoft are the first to automate many of these Chinese systems that in the long term this will give them a significant competitive advantage. I have seen it myself, as long as the incumbent provider can meet the requirements then they usually get any further development work. So every contract that Sinosoft announce doesn't just have the initial value it has a longer term value aswell. China is a massive country and just starting to modernise all of its local and government systems, I would expect to see pretty rapid growth once the world economy starts to gain momentum.
Very funny Croft! Do you hold? Good to see some more buying - hopefully another tick up soon. Those that wanted to sell at around 10p hopefully have done so.
PANIC - get in while you can !!! I reckon at this rate of buying the price will be back in double figures before long.
ok, I have stopped hyperventilating now and the diazepam has kicked in so all is calm in the world. This share has spells of relentless buying and then relentless selling (more sells going through today). You would have to be stark staring mad to buy right now as it is almost certainly going down further. The share price is behaving like a lemming who has donned a pair of lead boots and jumped out of an office window with no regard for Health and Safety in the workplace, the only question now is when will the splat occur. Maybe be your mate, Guy, can arrange for the lemming to land on a soft pillow and then get him fitted out with a rocket pack. I say we are heading for a splat at 7/9.
CroftOrigianl one minute your saying these could fly next your saying sell. Sinosoft are doing everything right, just's need time. This is going to be big in years to come. Guy thomas has 5 million share and he knows a thing or too.
PANIC - get out while you can !!! We are now down to 9/10.5 (bid/ask). I reckon at this rate of dumping the price will be back down to 7/9 by the end of the week.
We had the same thing happen after the last announcement about contract wins - the share price goes up by a penny or more and then a day or two later the dumping starts - 130,000 shares sold today and we are down to a bid/ask price of 9.5/11. How long before we are back where we were a couple of weeks ago at 7/9 ?
This share could start to fly now. If the Chinese national and regional govt are awarding contracts again now then this could well mean that things wil be looking up for Sinosoft. It has been stumbling along for 18 months or so since the SAT export tax programme got moth-balled. A couple of posts ago all I could see was more doom and gloom, lets hope Sinosoft is through the worst of the recession and all the while its still been profitable.
another contract win today!! well done sft
either this recent rise will run out of steam and the share price will drop back to 7-8p ish or maybe it will just keep on going up. I think 24p may be a bit optimistic by next year but I know what you mean about the figures for the company meaning that is is undervalued, at least on paper anyway. The downside is that this is a one trick pony so if they don't get any more Chinese govt contracts then where is the growth coming from? Nowhere, just burning cash in running costs. A sale of 10000 shares went through today at 9p!! that's better than the bid price of 8.75p. It may be a good time to get out while you can before the price drops again.
seems to be holding. The Mkt cap is still around what they have in the bank 14M. So you get 30M free assets and they should make 2M+ this year and turn 7M+ maybe 12M (last contract in Sep was 5M and they said another one is on the table for Dec, if this works out). This has defiantly been overlooked, I think it should be 24p at the next year end (June?) and still be undervalued by 30%/40%. But who knows, could be 1p :-). All the money is in oil/gold/etc just now, but will come good at some point. PS. and you get Dividends.
Just noticed a big sell that went through at 14:43:44, it didn't even meet the bid price which was 7.5p at the time! I can't see any recent bad news, does anyone know if something is happening. I am in at an average of 4.67p and I'm just wondeing if I should move elsewhere before this share comes right down. Anyone???