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Which means sales are below expectations at best, and dismal as probable. C'mon backy, put some gloss on this.!

UK NED. Reason stated - disagreement on divi policy between NED and ED's. It appears NED wanted divi paid. He must have had access to bank a/c statements, and able to verify figures, and argued that divi ought to be paid. Other scenario is that he knows it's false accounting, and jumped ship, and agreed the rns for golden handshake!!! Never know. Still an intriguing share.

The reason as I understand it, is that the Chinese economy was faltering, revenue was down, profit was down, and a prudent ( a great Gordon Brown saying) decision was taken to preserve cash. I agree though, that with an alleged £40M in bank, a couple of mill on divi is neither here or there. I doubt if BOD actively follow rules on trading in their own shares, and using 3rd parties, some handsome money can be made by selling high and buying low. Of course, this is only a scenario but I will be watching out for decent buys in this share. On a footnote, if it is a scam, then Zhang has had ample opportunity to offload a few of his near 70% holding at significant premiums to the present price. I do not think the market would see this as a 'sell out', but rather to increase the share ownership and liquidity of the company. As in all things in life - time will tell. I would not invest money in this share which I am not prepared to lose.

Pasted fro rns Group revenues decreased marginally by 6% to RMB1,016 million (2013: RMB1,083 million) · Gross profit decreased marginally by 6% to RMB376 million (2013: RMB402 million) · Gross margin was maintained at 37% · EBIT* decreased by RMB68.9 million to RMB235.2 million (2013: RMB304.1 million) · Net profit after tax decreased by RMB52.5 million to RMB173.7 million resulting in a margin of 17.1% (2013: 20.9%) · Footwear business revenues increased to RMB345 million (2013: RMB337 million) · Camkids remains cash generative with year-end net cash of RMB401 million (2013: RMB313 million)' £1 = 10RMB U say these results are not good - u need to do an accounting course. lol As I ( and jolly) have stated many times before, it's all about believability. If it had paid a 2p divi, sp would now be 40p+. It will, in MHO pay a divi in interims, and will be a 30p+ sp again. How low will it go - never 5p or 10p, but maybe 15p. I will, as in the past, make a decent investment in the next few weeks, months, if I can guage bottom of market.

We all know that patience is a virtue. The co has 21 validated sales contracts it is pursuing, and I find it worrying that there is no update on any of them! If it were pursuing only one 'game changing' contract, then yes, delays are bound to happen, but to hear nada on all it is pursuing is worrying. For whatever reason, prospective customers are in no rush to adopt the technology, or may have gone elsewhere. Has this particular ship lost it's navigation?

mm sounds very much like the poster 'mould' over at Naibu. It had sparkling results and £30m+ 'cash in bank', and mould ramped the share daily. When it was suspended from AIM, mould still did not believe there was anything wrong with NBU. He went down with the ship like a good investor. I'm reminded again of this - ' if it looks to good to be true, it probably is'. GL to all investors.

A good set of a/cs and 10p divi. to be paid on 19 June to SH on register 29 May. Good cash flow, and cost of production in 'low $20s pbo' At a quick glance thru report, all on track for a good 2015 if PoO does not tank. Should see £2 sp in coming 2 months. One of the better O &G producers, and NO DEBT.All in MHO of course

I'll give u a D- for spelling, and an A+ for research. lol Yes, def insider dealing. Zhang cant sell his shares in the proper time frame without causing a furore. So, I suggest he uses 3rd parties to make some pocket money. As said previously. it would be no surprise to see the 2p divi re-instated in the next few days, with a 50% upside.

Forgot to say that it would be no surprise if a rns was issued tomorrow to re-instate the divi. lol.

This would be a fair and reasonable explanation for the vast majority of listed companies who are experiencing a downturn in T/O and EBITDA. However, the vast majority of companies would not have 26X more reported cash in the bank than a 2p final divi would have cost. ( £40m & £1.5M). The timing of the rns was also a surprise, not being 'out of trading hours). I am sure there are investors here who checked rns's this am before going to work, and will be selling out when they read the poor news this evening. It can't be another Naibu. The company would find itself in all kind of legal prosecutions in China if a fraud was being perpetrated. The A/C's as presented show a robust company, with a platform for excellent growth when the Chinese economy recovers. We know that growth in China has slowed, but the Shanghai S E is v bullish. I sold half t'other day at 38p for a small profit, and other half this am at 30p for a loss. No doubt T Winnifrith will be giving it all in the near future on 'told u so'. I hope that Jolly got out at about the 30p level. I will get back in for more excitement when interim divi due. I am confident it will pay interim div in 6 months time, and sp returns to 35p.

It's not a massive 'sell off', and maybe some profit taking, which could be ill timed. Last Sept, signed a deal with SAGA for deployment in Scandinavia which is profit enhancing now. Since Sept. it has announced orders with Marmalade, and up-grade with Saint-Gobain for it's fleet. There was a trading statement issued last April, and I would expect another good rns before the announcements of FYR result in July. Time for a top- up.

Last year, the co gave a forward notice on 16 April that result would be published on 29 April. It then released result on 24 April., On that basis, I would expect rns this week giving notice of result, and result by end of next week, and looking forward to another 2p or better divi. Fingers, toes crossed.

13.30. Sorry Jolly, had to sell half at 37p just in case final divi is cancelled. However, there are many buyers out there, and I'm pretty sure some of those are 'insider' and know the divi is there. It has been day traded recently, with gains being cashed late on. Might just do the same and buy back in if falls below 35p. Interesting post from CynC who states has visited retail outlets. Would like to know more Cync. Regards and GL all

Good find CS. Had to have another top up on recent fall. GL all

Exactly jolly. Results due soon, and impressive recent rises have not been on great volumes. Zhang warned us a few months ago that trading would be lower YOY. However, the margins are such that profit should still be healthy, and paying another 2p ( or better) final divi., is what the market now expects!!! If the sp was 50p, the FY divi would be 8% irrespective of a painfully low PE. The low trading volumes suggest there is no 'insider' buying ( non ecex dir), but I am hopeful that Zhang will not scupper us and not pay a final divi. After initially buying at 50p +, and av down over past year, am now slightly in profit. I am not even contemplating looking at the 'sell' button. It is a straight fight now between 'fools and money' and 'fortune favours'. GL

435K shares traded last Monday, and hardly any movement. Less than 60K traded today and up nearly 8% !! We are expecting rns this month for FYR ( last year 22nd). IF final divi of 2p is paid again then sp should be + 25-30%. Back to the same old question - has it got £40M in bank. If divi cancelled, sp tanks, Soon find out. GL to all the faithful.

be worth it? Last year, result was issued 24April. The Yuan at 9.81= 1GBP is 10% stronger than last year, giving a currency gain for S/H. We have already been advised that T/O is down 10% on last year, but still leaves +ve cash flow and profit. The BIG question for confidence in this Chinese stock is will a divi be paid. Another 2p final divi will cost £1.56M, and should be no problem with the reported cash in bank. If the divi is suspended, sp will tank as investors fear another Naibu. If divi is paid, and there are no 'fishy' impairments, and/or 'fishy' capex, then 30p here we come. Interesting to note that T Winiforth of shareprophet has said that Naibu's disappearance of CEO is due to him being in jail. He surmises that incarceration is because of dodgy accounting and fraud with NBU. If this is true then our Mr Zhang should be issuing audited A/c's that bear a resemblance to the facts? Should be v interesting, and GL to all the 'foolish' investors still here. lol All in MHO of course.

Apologies. Unreserved. I did not read yr post saying no at 19.07 on Tuesday. Good banter though, lol. However, in the interest of keeping the board on track in it's aim of sharing facts/opinions, it does your esteem no good when resorting to childish name changing. ( bestprat. lol).

There is an obvious day trader play to buy into heavily fallen stock hoping for a dead cat bounce, or a bounce on genuine 'oversold'. The MM counteract this ploy by dropping the price again hoping to hit the traders stop loss. As long as the BOD see fit to continue an aggressive divi policy, and the POO doesn't tank again, then a recovery to £2 sp is achievable before YE. All in MHO of course.

From the rns, Quote; ' Before accounting for the non-cash impact of the exploration write-offs and impairments, post-tax profits were down from $196.1 million in 2013 to $131.7 million in 2014' I make that 33%. The free cash flow figure though, is still v encouraging..