SBB 400 stores in china mens fashion profits and Divs, Escrow dump buy OP?

[Joshuatree]

MKT CAP $35mill s/p 7.4c

F/Y 13 turnover $79.5 mill PBT $19.8 mill

Cash reserves $27.9 mill
net margin 17.5%

Re supplies 400 plus stores with upmarket clothing in 25- 40 year old market. Owns 5 stores. Most Innovation Brand award in 2013

Re 190 mill shares released from 6 month escrow dumped on market s/p pushed down.

Lots of questions lots of CAUTION! here too good to be true? My wild est that maybe half the escrow shares have passed thru the mkt


Questions (compiled by me) price/sales ratio compared with other brands?
Compare inventory and payables with other clothing co's , are suppliers financing inventory
Why have they listed on ASX?
Why when one googles each of Sunbridges customers the only customer that had reference is listed as astons manufacturer
Why were the escrow shares released?
Why are they building such a large 8 storey office building
Any deferred tax?
Is this an elaborate hoax?
2 Aus? directors Andrew Plimpton Director of several Aus and NZX co's, Executive member and director of Aus olympic Committee and commissioner of Aus sports commission and wayne Reid served as Director on 30 plus company boards , O.B.E

CEO has majority holding
A lot of ramping /promoting on another website
Be vey wary / careful here, 3 companies that have conned the mkt before ZHE, OMH,BGG
I took a small holding last week as aspekky short term trade . Have learned a lot more about it since but I'm very wary Watching like a hawk.

[noodles]

MKT CAP $35mill s/p 7.4c

F/Y 13 turnover $79.5 mill PBT $19.8 mill

Cash reserves $27.9 mill
net margin 17.5%

Re supplies 400 plus stores with upmarket clothing in 25- 40 year old market. Owns 5 stores. Most Innovation Brand award in 2013

Re 190 mill shares released from 6 month escrow dumped on market s/p pushed down.

Lots of questions lots of CAUTION! here too good to be true? My wild est that maybe half the escrow shares have passed thru the mkt


Questions (compiled by me) price/sales ratio compared with other brands?
Compare inventory and payables with other clothing co's , are suppliers financing inventory
Why have they listed on ASX?
Why when one googles each of Sunbridges customers the only customer that had reference is listed as astons manufacturer
Why were the escrow shares released?
Why are they building such a large 8 storey office building
Any deferred tax?
Is this an elaborate hoax?
2 Aus? directors Andrew Plimpton Director of several Aus and NZX co's, Executive member and director of Aus olympic Committee and commissioner of Aus sports commission and wayne Reid served as Director on 30 plus company boards , O.B.E

CEO has majority holding
A lot of ramping /promoting on another website
Be vey wary / careful here,

Maybe you could look at it this way....
Downside 7.5c if it turns out to be a dud
Upside 50c+ if the story is true

[noodles]

MKT CAP $35mill s/p 7.4c

Looks like your post put a rocket under the shareprice. Now at 8.5c! 15% return in less than 2 hours! Genius

[Joshuatree]

Heading towards 8 million shares traded. Maybe another 80 million (guess)to go if ex escrow are selling out.

[Joshuatree]

up more today 23% to 9.1c

[Joshuatree]

Hi moose what does that T/a speak mean in plain englishy ,an upwards thrust tomorrow likelu=y? thanks JT

[Lizard]

This bit from the agm speech cracked me up....

One upcoming promotional event is the 2014 Asian Beach Volleyball competition which we are the sole sponsor of all menswear in the competition.

The fact the CEO gave the agm address in mandarin while in Australia seems a little surprising, but perhaps the major shareholders preferred it that way.

Also, the google translate of the web-site at the link for pandist:

Sorry, the page you requested is currently unavailable!
This may be because:
You have entered an incorrect URL, or Web page you are looking for may have been updated or deleted
Is the record of the websites you visit, the temporary ban on access
According to the Ministry of Power Tube [2010] No. 64, ICP filing or filing incomplete information site for failure to perform, forced to shut down.
CE Dongli as operators of this site have the responsibility and obligation free help site owners to verify relevant information and related formalities.
ICP record information if the site has been approved, the following causes the page to be banned access:
Web services have expired, CE Dongli has ceased operations services for this site.
Site is in maintenance, CE Dongli website owners should request a temporary ban on access.

But don't worry, I found the new web-site and seems they just created it mid-June, so maybe google hasn't been inundated with views yet: http://en.pandist.com/news_list/&newsCategoryId=4.html
Don't forget to check out the photos from the beach volleyball comp!

Oddly, registration for the site agueseadan.com appears to have expired on Friday? (possibly registered to a nonagenerian in Arizona)

Andrew Plympton's NZX connection is through Energy Mad. On the ASX, he seems to have been involved with Newsat, Adeffective, Beyond Sportswear International and Entellect.

I am guessing Wayne Reid's OBE may relate more to his varied sports involvement. The most prominent places he lists as having had directorships with are:
• Jarden Morgan Europe SA
• Adriatic Insurance Limited (now part of Tower Life Australia Ltd)
• Nicholas Aspirin & Kiwi Boot Polish Ltd.
• Hudson Place Limited, UK (former owner of Air Europe)
• American Express (complete divisions for the Maldives)
• Nabisco Australia and the Pacific Limited.
• City State Limited.
• Georges of Collins Street Limited

Couldn't find much on "the most innovation brand award", but there seemed to be more than one recipient of the "Most Influential Brand Figure" and you can see a picture here, which seems to show the CEO was actually there: http://www.chinayonggroup.com/Item/Show.asp?m=111&d=78

Cash reserves of $31m might help make a dent in the construction costs of the new office building...while it's not clear that they are definitely paying for the building rather than leasing, there is a column titled "construction in progress" in the annual report, (although the value did not appear to have changed in the 12 month period other than through exchange rate changes).

Also have $9m of overdue receivables, although no suggestion of impairment at the time of last report.

Margins seem high considering they are neither manufacturing nor doing much of the retailing themselves from what I can see. However, maybe okay at gross level, so it is maybe a function of low administrative and operating costs, which I would expect to have risen substantially with full year of exec salaries and store roll-outs.

I find it a little odd that SBB made it into the All Ords index on the last re-balance in March, as did not think it would have had either the market cap or trading history to support a place in there (only listed November).

Overall, I think it is right to be suspicious at this stage. Trade carefully and don't get greedy! The typical pattern for newly listed companies of questionable pedigree would be for some unexpected new costs to appear and impact net profits at the coming half yearly, so, the safest bet is to get out at least a week or two before expected report date.

[NZSilver]

Yeh, looked at this one last week - Alpha investing had mentioned it. Decided to stay away - why? - Lizard summerised it well. - no need to repeat. Looks like its being ramped though on HC, def pump and ump so get out before your get caught!

[Joshuatree]

Hi NZSilver yes thanks for your thoughts I agree : timing is everything with these stocks. cheers JT

[Joshuatree]

Ive escaped SBB today with a 20% gain. Sick of watching the volatility;screen and all the B/S ramps on it and wary re the quality and credibility.