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Home  /   Forum   /   Koffiekamer   /   CHINA PREC. STEEL (NasdaqCM:CPSL)

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CHINA PREC. STEEL (NasdaqCM:CPSL)

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1.088 Posts
Pagina: «« 1 ... 12 13 14 15 16 ... 55 »» | Laatste | Omlaag ↓
  2. [verwijderd] 8 oktober 2007 21:41
    quote:

    mineset schreef:

    Ik zie zonet dat de aandelen op meedere Duitse beurzen verhandeld worden:
    08-10-2007
    Börse: Frankfurt sk 6.90
    Börse: Stuttgart sk 6.94
    Börse: Berlin sk 6.96
    info.baaderbank.de/DE/showpage.asp?pa...

    Meerkeuzevraag ?
    Ik had het al vaker gemeld dat je ook in Dld kon kopen,Frankfurt is de meeste handel,ik vermoed dat uiteindelijk alles via Xetra systeem gaat.
    Voor LT kun je wel daar kopen maar voor snel in en uit is denk ik de US geschikter de koers varieert daar op een handelsdag rijkelijker.

    succes verder.

    mvrgr jo jo
  6. [verwijderd] 13 oktober 2007 10:33
    Yahoo!My Yahoo!Mail Make Y! your home pageYahoo! SearchSearch:Sign In
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    CPSL > SEC Filings for CPSL > Form 10-K on 12-Oct-2007 All Recent SEC Filings


    Show all filings for CHINA PRECISION STEEL, INC. | Request a Trial to NEW EDGAR Online Pro

    Form 10-K for CHINA PRECISION STEEL, INC.

    --------------------------------------------------------------------------------

    12-Oct-2007

    Annual Report

    ITEM 7. MANAGEMENT'S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF OPERATION
    This Annual Report on Form 10-K contains statements that constitute "forward looking statements" within the meaning of Section 21E of the Securities Exchange Act of 1934, as amended, and Section 27A of the Securities Act of 1933, as amended. The words "may," "will," "expect," "anticipate," "continue," "estimate," "project," "intend," and similar expressions are intended to identify forward-looking statements. These statements appear in a number of places in this document and include statements regarding the intent, belief or expectation of the Company, our directors or its officers with respect to events, conditions, and financial trends that may affect our future plans of operations, business strategy, operating results, and financial position. Persons reviewing this Annual Report on Form 10-K are cautioned that any forward-looking statements are not guarantees of future performance and are subject to risks and uncertainties and that actual results may differ materially from those included within the forward-looking statements as a result of various factors. More information on these risks and uncertainties, many of which are beyond our control, is set forth under Part II, Item 1A, "Risk Factors," in this Annual Report.

    While these forward-looking statements, and any assumptions upon which they are based, are made in good faith and reflect the Company's current judgment regarding the direction of our business, actual results will almost always vary, sometimes materially, from any estimates, predictions, projections, assumptions or other future performance suggested herein. We undertake no responsibility or obligation to update publicly these forward-looking statements, but may do so in the future in written or oral statements. Investors should take note of any future statements made by us or on our behalf.

    Introduction

    Management's discussion and analysis of financial condition and results of operations is intended to help provide an understanding of China Precision Steel, Inc. and our subsidiaries' (together, the "Group") financial condition, changes in financial condition and results of operations. This discussion is organized as follows.

    · Overview of the Company's Business - This section provides a general description of the Group's business, as well as recent developments that have either occurred during the fiscal year ended June 30, 2007 and are important in understanding the results of operations and financial condition or disclose known trends.

    · Results of Operations - This section provides an analysis of our results of operations for the fiscal year ended June 30, 2007. This discussion includes a brief description of significant transactions and events that have an impact on the comparability of the results being analyzed.

    · Liquidity and Capital Resources - This section provides an analysis of the Group's cash flows for the fiscal year ended June 30, 2007. Included in this section is a discussion of the Group's outstanding debt and the financial capacity available to fund the Group's future commitments and obligations.

    OVERVIEW OF THE COMPANY'S BUSINESS

    We are a niche and high value-added steel processing company principally engaged in the manufacture and sale of high precision cold-rolled steel products, in the provision of heat treatment and in the cutting of medium and high-carbon hot-rolled steel strips. We use commodity steel to create a specialty premium steel intended to yield above-average industry gross margins. Specialty precision steel pertains to the precision of measurements and tolerances of thickness, shape, width, surface finish and other special quality features of highly-engineered end-use applications.

    --------------------------------------------------------------------------------

    We produce and sell precision ultra-thin and high strength cold-rolled steel products ranging from 7.5 mm to 0.03 mm. We also provide heat treatment and cutting of medium and high-carbon hot-rolled steel strips not exceeding 7.5 mm fineness. Our process puts hot-rolled de-scaled (pickled) steel coils through a cold-rolling mill, utilizing our patented systems and high technology reduction processing procedures, to make steel coils and sheets in customized thicknesses according to customer specifications. Currently, our specialty precision products are mainly used in the manufacture of automobile parts and components, plane friction discs, appliances, food packaging materials, saw blades, textile needles, microelectronics, and packing containers.

    We conduct our operations principally in China through our wholly-owned operating subsidiary, Shanghai Chengtong Precision Strip Co., Limited, or Chengtong, which, in turn, is a wholly owned subsidiary of our direct subsidiary, Partner Success Holdings Limited, or PSHL. Most of our sales are made domestically in China; however, during fiscal 2007, we began exporting our cold-rolled steel products to Indonesia and the Philippines and, to a lesser extent, Nigeria and Thailand. We intend to expand into additional overseas markets in the future, subject to suitable market conditions and favorable regulatory controls.

    Over the course of the past two years, we have begun to alter our product mix to meet market demands in our primary market, China, as well as to expand into overseas markets. We continue to focus on the production of higher margin products, although we have increased production of certain of our lower margin products due to market demand. These changes in our strategy have created increased capital requirements as we have sought to construct additional rolling mills to accommodate our planned growth. In addition, our workforce has increased and, in particular, we have faced a growing need for experienced executive and technical staff.

    Our market is highly competitive, although we have focused on a niche market that we consider allows us to compete effectively as we continue to grow our business. We face significant competition for raw materials, especially crude steel, and our financial results may be impacted by changes in the market prices for these materials. Given our size, we do not have the ability to influence the prices at which we must purchase raw materials. However, the nature of our products enable us to pass on all or part of the price fluctuations in raw materials to our customers.

    In the year ended June 30, 2007, we added three indirect subsidiaries to our corporate structure. On April 9, 2007, we purchased Shanghai Tuorong Precision Strip, Limited, or Tuorong, through PSHL. The sole activity of Tuorong is the ownership of a land use right with resp
  8. [verwijderd] 16 oktober 2007 16:28
    Press Release Source: China Precision Steel

    China Precision Steel Announces Fiscal 2007 Year End Results
    Tuesday October 16, 9:56 am ET
    Fiscal 2007 Revenue Climbs 55% Year-over-year

    SHANGHAI, China, Oct. 16 /Xinhua-PRNewswire/ -- China Precision Steel (Nasdaq: CPSL - News), a niche precision steel processing company principally engaged in producing and selling high precision cold-rolled steel products, announced its financial results for the year ended June 30, 2007.

    Full Year 2007 Highlights
    -- Revenue increased 55% to $54.0 million
    -- Volume of precision steel sold increased 59% to 67,021 metric tons
    -- Gross profit increased 50% to $15.0 million from 2006
    -- Newly launched export program accounted for 8.6% of revenues in fiscal
    2007
    -- New cold-rolled mill currently operating at 40% capacity

    "We are happy to report strong growth in sales and gross profit during our 2007 fiscal year, which was the result of increased production capacity supported by strong demand for our precision steel products," commented Dr. Wo Hing Li, Chairman and CEO of China Precision Steel. "Our new mill is currently operating at a 40% utilization rate and we intend to begin construction of our third mill in early 2008. We were also successful in expanding our market share, as our products are highly competitive with an average cost that is lower than our international competitors."

    Full Year 2007 Results

    Revenue for fiscal 2007 increased 54.7% to $54.0 million from $34.9 million in fiscal 2006. Revenue growth was driven by increased volume of precision steel products to 67,021 tons in fiscal 2007, up 59.0% from 42,160 tons in fiscal 2006. High carbon and low carbon products accounted for 54% and 42%, respectively, compared to 62% and 38%, respectively, in fiscal 2006. Export sales to the Philippines and Thailand totaled $4.7 million, accounting for 8.6% of total sales.

    Gross profit was $15.0 million, up 50.5% from $10.0 million a year ago. Gross margin was 27.9% in 2007 compared to 28.6% in 2006. Gross margin was impacted by higher raw materials costs and amortization costs associated with the addition of a second mill in August 2006.

    Operating expenses were $5.9 million, up 788% from $667,989 in fiscal 2006 primarily due to a $3.8 million provision for doubtful accounts recorded as a partial reserve against advances to suppliers where the goods ordered were not received within ninety days. The Company did not record a provision for bad debts in fiscal 2006.

    Selling expenses were $245,695 or 0.5% of revenue, up from $122,220 or 0.4% of revenue, in fiscal 2006. The increase in selling expenses was primarily due to higher transportation expenses resulting from a broader customer base, including exports, as well as an increase in order frequency.

    General and administrative ("G&A") expenses were $1.9 million, or 3.5% of revenue, up 269% from $505,764, or 1.4% of revenue, in fiscal 2006. The increase in G&A was chiefly due to increases in the amortization of intangible assets, listing fees relating to the Company's admission to the NASDAQ Capital Market and associated expenses.

    Operating income for 2007 was $9.1 million down slightly from $9.3 million in 2006.

    Net income for fiscal 2007 was $8.3 million, down 1.3% from $8.4 million in fiscal 2006. Fully diluted earnings per share in fiscal year 2007 were $0.29 compared to fully diluted earnings per share of $0.35 in fiscal year 2006.

    Financial Condition

    As of June 30, 2007, China Precision Steel had $5.5 million in cash, $22.9 million in long-term debt and notes payable and $14.6 million in working capital. Cash flow from operating activities was $2.9 million for fiscal year 2007. Total stockholders' equity stood at $51.1 million compared to $11.7 million as of June 30, 2006.

    Business Outlook

    China Precision Steel has two mills in production with current annual capacity as of June 30, 2007 of 115,000 metric tons. The Company's second mill began production at the end of 2006 and has total annual production capacity is 150,000 metric tons. The mill is currently operating at 40% capacity and is expected to reach 50% capacity by the end of 2007 and full capacity by the end of 2009. In 2008, China Precision Steel intends to commence construction of a third reversing mill with capacity of 150,000 metric tons and production width of 1700 mm. The primary focus of the two new mills will be on higher margin high carbon, cold-rolled steel products and more complex precision steel products. The Company intends to purchase a new hydrogen annealing furnace and a new 1700 mm cold roll mill for a total investment of $18 million.

    "We are creating a dominant position in China for ultra-thin precision steel. Currently we produce over 40 high precision steel products with over 100 specifications and we remain focused on broadening the number of precision steel products," concluded Dr. Li. "We are also looking to increase our penetration into Guangdong Province where there is a concentration of light industries, and in the Northeastern region of China where there are a number of automotive manufacturing companies."

    Annual Shareholders Meeting

    China Precision Steel will hold its Annual Meeting of Shareholders on Monday, November 12, 2007 at 10:30 am, Eastern Time, at the offices of Kirkpatrick & Lockhart Preston Gates Ellis LLP, 599 Lexington Avenue, New York, New York 10022. The record date for the Annual Meeting is September 28, 2007 and all shareholders of record at the close of business on that day will be entitled to vote at the Annual Meeting.

    Laatste koers Verschil
    10.17 USD 0.94 (10.18 %)


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