Tuesday, 30 August 2016

Xingquan: heavy losses

Xingquan, another China based counter listed on Bursa I have warned about, announced its results:

Cost of sales of RM 342 Million on Revenue of RM 83 Million, does it make any sense whatsoever?

In the past I have shown doubt about the cash in the company (why issue a rights issue when one claims to be sitting on a huge cash pile?), a few more quarter results like the above and that problem might be "solved".

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