TFMG
5 years ago
CXDC - High Revenue. High RISK Trade
China XD Plastics Co., Ltd. is a holding company, which engages in the development, manufacture and trade of polymer composite materials. It offers special engineering plastic, biodegradable plastic, general plastic, engineering plastic products. Its products are used in the production of exterior and interior trim and functional components of automobiles. The company was founded in 1985 and is headquartered in Harbin, China.
SHORT INTEREST
14.37K 07/31/19
P/E Current
1.97
P/E Ratio (with extraordinary items)
2.27
P/E Ratio (without extraordinary items)
1.71
kindama
9 years ago
China to Cut Purchase Tax on Some Cars
Tax cut for vehicles with engines no larger than 1.6 liters aimed at boosting demand
Sept. 29, 2015 8:40 a.m. ET
SHANGHAI—China said Tuesday it will cut the purchase tax in half on cars with engines no larger than 1.6 liters in a bid to boost the world’s largest car market, which is grappling with sluggish demand amid an economic slowdown.
The central government said the incentive, which will be effective between Thursday and the end of next year, is aimed at boosting demand. Cars sold in China are subject to a 10% purchase tax as well as other duties.
More than 60% of China’s car market is for vehicles with less than 1.6-liter engines, industry data show.
China’s new-car sales have dropped into a slow lane after years of rapid growth. As the economy slows, the government has continued to crack down on corruption and more cities have curbed car ownership to reduce traffic congestion and air pollution. Latest official data show that China’s new-car sales fell 3.4% to 1.42 million vehicles in August, following a 6.6% decline in July and a 3.4% fall in June.
China’s largest auto maker by sales, SAIC Motor Corp., last month forecast zero growth in industrywide sales of passenger and commercial vehicles this year. The government-backed China Association of Automobile Manufacturers in July slashed its forecast for China’s auto market in 2015 to a 3% gain, from a prior estimate of 7% growth.
Car manufacturing is one of the pillars for China’s economy, accounting for more than 10% of the country’s gross domestic product, according to the top statistics bureau.
The last time China lowered the purchase tax for small cars was in 2009, when the global financial crisis took a toll on demand for cars. The cut engendered a 53% surge in passenger car sales that year and helped China supersede the U.S. to become the world’s largest auto market.
Hoping to rejuvenate the economy, China’s central bank in August cut interest rates for the fifth time since November and lowered for the third time the amount of deposits banks must hold in reserve. The People’s Bank of China also slashed the required reserves that auto-financing and leasing companies must hold to improve demand for cars.
—Rose Yu
scion
10 years ago
Chinese automotive compounder refutes fraud allegations
By Nina Ying Sun, Plastics News
Posted 15 July 2014
http://www.prw.com/subscriber/headlines2.html?cat=0&id=5278
Automotive compounder China XD Plastics has rebutted a claim from Bleecker Street Research that its “numbers don’t add up”. XD’s Nasdaq share price fell more than 20% following the statement.
Regarding the most data-based allegation Bleecker made on the consistency, or lack of, between XD’s SEC filings and the income numbers that the company reported to China’s State Administration of Industry and Commerce (SAIC), XD claimed Bleecker failed to include all of its subsidiaries in the calculations. In addition, XD said Bleecker’s methodology is flawed as it does not, for example, take into account any eliminations of inter-group transactions.
As well, XD dismisses Bleecker’s questioning of its gross margins being substantially higher (184 percent higher in 2013) than China’s largest compounder Guangzhou Kingfa Science & Technology. Instead, it compared its margins with another Chinese automotive compounder, publicly listed Shanghai Pret Composites and said the numbers are in line.
It added that Kingfa’s lower margins can be attributed to its low-profit trading business and the broad range of compound materials for various end markets.
XD claimed that its New York-based Chief Financial Officer Taylor Zhang, albeit having worked for two Chinese companies that were accused of fraud by SEC, was not employed by either of them when those companies were accused of wrongdoing. XD also said there has not been any suggestion that Zhang was involved in any alleged wrongdoing.
In response to questioning of its increased days sales outstanding (DSO) in 2013, XD said it was resulted from in the Chinese economy and its “proactive marketing strategy to penetrate the East China market.” DSO indicates the time it takes a company to collect revenue after a sale.
XD also said its R&D expenditures, in terms of percentage of sales, are “reasonable and effective,” although Bleecker called it “relatively miniscule” compared to Kingfa’s.
About its fairly frequent change of auditors (three changes in five years), XD said those decisions were based on the company’s growth and are justifiable.
It’s not the first time China XD was under scrutiny on some of these issues. An August 2011 article on SeekingAlpha.com called for attention to the same issues — mismatched numbers between SEC filings and the financials they reported to the Chinese government, much higher margins than competitors’, CFO’s former employer, among other things. Some of the comments suspected the anonymous author, who claimed to be an investor in China, was a short seller. Other comments found Morgan Stanley’s investment in XD to be reassuring.
XD is based in Harbin in Northeast China with three plants there and is building a fourth production base in Sichuan province in Southwest China.
http://www.prw.com/subscriber/headlines2.html?cat=0&id=5278
stocktrademan
10 years ago
China XD Plastics Co., Ltd. [$CXDC] due diligence
bullish target 28.75, good time to buy as it is in a column of X's
$CXDC
DD Notes ~ http://www.ddnotesmaker.com/CXDC
##### recent news/filings ~ source: finance.yahoo.com
Tue, 27 May 2014 17:46:50 GMT ~ China XD Plastics volatility increases on sharp rally
read full: http://www.theflyonthewall.com/permalinks/entry.php/CXDCid2016416/CXDC-China-XD-Plastics-volatility-increases-on-sharp-rally
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Fri, 23 May 2014 10:00:00 GMT ~ 'Mad Money' Lightning Round: I've Given Up on Jabil Circuit
read full: http://www.thestreet.com/story/12714528/1/mad-money-lightning-round-ive-given-up-on-jabil-circuit.html?puc=yahoo&cm_ven=YAHOO
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Thu, 22 May 2014 22:48:10 GMT ~ Lightning Round: Valero, Kinross Gold & More
read full: http://www.cnbc.com/id/101698974?__source=yahoo%257cfinance%257cheadline%257cheadline%257cstory&par=yahoo&doc=101698974%257cLightning+Round:+Valero,+
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Tue, 20 May 2014 17:04:25 GMT ~ CHINA XD PLASTICS CO LTD Financials
read full: http://finance.yahoo.com/q/is?s=cxdc
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Wed, 14 May 2014 17:38:04 GMT ~ China XD Plastics Company Limited (CXDC) CEO Jie Han on Q1 2014 Results - Earnings Call Transcript
[at Seeking Alpha] - Jie Han Thank you, Tom and welcome to all of you who have joined us today. We are pleased to report our solid revenue growth and positive business development for the first quarter of 2014. The year-over-year ...
read full: http://seekingalpha.com/article/2217713-china-xd-plastics-company-limited-cxdc-ceo-jie-han-on-q1-2014-results-earnings-call-transcript?source=yahoo
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##### chart ~ source: stockcharts.com
##### chart ~ source: eoddata.com
##### company info ~ source: otcmarkets.com
Link: http://www.otcmarkets.com/stock/CXDC/company-info
Ticker: $CXDC
OTC Market Place: Not Available
CIK code: 0001353970
Company name: China XD Plastics Co., Ltd.
Incorporated In: NV, USA
##### extra dd links
Edgar filings: http://www.sec.gov/cgi-bin/browse-edgar?action=getcompany&CIK=0001353970&owner=exclude&count=40
Latest filings: http://www.otcmarkets.com/stock/CXDC/filings
Latest financials: http://www.otcmarkets.com/stock/CXDC/financials
Latest news: http://www.otcmarkets.com/stock/CXDC/news - http://finance.yahoo.com/q/h?s=CXDC+Headlines
Major holdings: http://data.cnbc.com/quotes/CXDC/tab/8.1
Insider transactions (1): http://finance.yahoo.com/q/it?s=CXDC+Insider+Transactions
Insider transactions (2): http://www.secform4.com/insider-trading/CXDC.htm
Insider transactions (3): http://www.insidercow.com/history/company.jsp?company=CXDC
RegSho: http://www.regsho.com/tools/symbol_stats.php?sym=CXDC&search=search
DTCC: http://search2.dtcc.com/?q=China+XD+Plastics+Co.%2C+Ltd.&x=10&y=8&sp_p=all&sp_f=ISO-8859-1
Spoke company information: http://www.spoke.com/search?utf8=%E2%9C%93&q=China+XD+Plastics+Co.%2C+Ltd.
Corporation WIKI: http://www.corporationwiki.com/search/results?term=China+XD+Plastics+Co.%2C+Ltd.&x=0&y=0
Short Sales: http://www.otcmarkets.com/stock/CXDC/short-sales
Insider Disclosure: http://www.otcmarkets.com/stock/CXDC/insider-transactions
Research Reports: http://www.otcmarkets.com/stock/CXDC/research
Historical Prices: http://finance.yahoo.com/q/hp?s=CXDC+Historical+Prices
Basic Tech. Analysis: http://finance.yahoo.com/q/ta?s=CXDC+Basic+Tech.+Analysis
Company Profile: http://finance.yahoo.com/q/pr?s=CXDC+Profile
Key Statistics: http://finance.yahoo.com/q/ks?s=CXDC+Key+Statistics
Industry: http://finance.yahoo.com/q/in?s=CXDC+Industry
Insider Roster: http://finance.yahoo.com/q/ir?s=CXDC+Insider+Roster
Income Statement: http://finance.yahoo.com/q/is?s=CXDC
Balance Sheet: http://finance.yahoo.com/q/bs?s=CXDC
Cash Flow: http://finance.yahoo.com/q/cf?s=CXDC+Cash+Flow&annual
Market Watch: http://www.marketwatch.com/investing/stock/CXDC
Bloomberg: http://www.bloomberg.com/quote/CXDC:US
Morningstar: http://quotes.morningstar.com/stock/s?t=CXDC
Bussinessweek: http://investing.businessweek.com/research/stocks/snapshot/snapshot_article.asp?ticker=CXDC
Barchart: http://www.barchart.com/quotes/stocks/CXDC
OTC Short Report: http://otcshortreport.com/index.php?index=CXDC
Investopedia: http://www.investopedia.com/markets/stocks/CXDC/?wa=0
http://www.pennystocktweets.com/stocks/profile/CXDC
##### last known share structure ~ source: otcmarkets.com
Market Value: $550,568,233 a/o Jun 03, 2014
Shares Outstanding: 48,679,773 a/o May 09, 2014
Float: Not Available
Authorized Shares: Not Available
Par Value: 0.0001
##### business description ~ source: otcmarkets.com
China XD Plastics Company Ltd., through its wholly owned subsidiary Harbin Xinda Macromolecule Material, develops, manufactures, and distributes modified plastics, primarily for automotive applications. The Company?s specialized plastics are used in the exterior and interior trim and in the functional components of more than 30 automobile brands manufactured in China including Audi, Red Flag, Volkswagen and Mazda. The Company?s wholly owned research institute is dedicated to the research and development of modified plastics and benefits from technology collaboration with well-know scientists from leading Universities in China. At present, Xinda manufactures approximately 145 types of automobile-specific modified plastic products, 117 of which have been certified for use by one or more of the automobile manufacturers in China.Less >>
DD Notes ~ http://www.ddnotesmaker.com/CXDC
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