Friday, October 13, 2017

Uptrend of China Vast (6166.HK) is intact

Click on the link below to read my earlier post on China Vast (6166.HK) dated 25 July 2017:


Wang Jianjun, Chairman of China Vast, kept buying his company shares before and after my post. Just 9 Oct, 10 Oct, and 11 Oct, in 3 consecutive days, he spent a total of HK$77.2163 million or S$13.35 million to purchase a total of 20.517 million shares at an average price of $3.763528 apiece, increasing his holding in his company shares to 68.94 per cent. 

There is no doubt that he has been highly confident of the performance of China Vast going forward. With the closing price of $4.31 on 13 Oct 2017, its rolling p/e is still a superb 6.008x even after the share prices has surged more than 62% since about two months ago.

I believe the next thing he could do is to privatise the company. He could also declare a bonus issue, or he could give fat dividends to himself and the shareholders like me. My imagination could be wrong but nobody can stop me from having a dream that is plausibly, if not highly, realistic.

I sold about 9% of my initial position and with these rampant purchase actions by the Chairman, I am more determined to hold my remaining shares for a higher target price now.

My hard work has brought me a total realised and paper gains of S$62,530 or 62.75% of my initial outlay, and this is achieved in two months and a day. Wow, spring has come early this year and definitely not bad an early angpao for me!   

Superphang

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