China XD Plastics Midyear Update and No News is Good News Regarding the Unfair Buyout Offer

China XD Plastics (CXDC) recently reported 2Q17 operating results and progress on major strategic initiatives: 1H17 net income of $38mm ($0.58/share) and reaffirmed full-year guidance 81% of 1H17 revenues from premium products and rapid sales growth in areas served by the new Nanchong plant Major growth initiatives underway in Nanchong, Harbin, and Dubai with strong … Continue reading China XD Plastics Midyear Update and No News is Good News Regarding the Unfair Buyout Offer

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China XD Plastics Update After 1Q Earnings

A follow-up to my recent articles: CXDC Receives An Unfair Buyout Offer When It Is Over 80% Cheaper Than Comparable China-Listed Companies New Disclosures by China XD Plastics about its Sichuan Plant Expansion China XD Plastics released 1Q results yesterday (LINK).  As usual, first quarter results were depressed by the impact of the Lunar New Year holiday, … Continue reading China XD Plastics Update After 1Q Earnings

New Disclosures by China XD Plastics about its Sichuan Plant Expansion

This article will review information released since March 9 about Xinda's previously undisclosed Sichuan expansion plan (originally described here: CXDC Receives An Unfair Buyout Offer When It Is Over 80% Cheaper Than Comparable China-Listed Companies). On December 12 2016 Xinda signed a contract with the Nanchong City government covering a major expansion of Xinda's Nanchong production facility … Continue reading New Disclosures by China XD Plastics about its Sichuan Plant Expansion

Impact of Recent Vehicle Sales Trends on US Listed Chinese Auto Suppliers (February Update)

Vehicle sales in China were 22.6% higher in February than one year ago. Winter economic activity and data are always distorted by the changing timing of the Lunar New Year which fell on February 8 in 2016 and January 28 in 2017.  Despite the uncertainty introduced by the holiday, two trends stood out: Passenger vehicle sales … Continue reading Impact of Recent Vehicle Sales Trends on US Listed Chinese Auto Suppliers (February Update)

CXDC Receives An Unfair Buyout Offer When It Is Over 80% Cheaper Than Comparable China-Listed Companies

China XD Plastics' CEO recently offered to buy all publicly held shares for $5.21, a small premium to their recent market price, but well below their fair value. The company is poised to report record sales and profits in 2017 as new plants in Nanchong and Dubai enter commercial production. The company has not disclosed … Continue reading CXDC Receives An Unfair Buyout Offer When It Is Over 80% Cheaper Than Comparable China-Listed Companies

Impact of Recent Vehicle Sales Trends on US Listed Chinese Auto Suppliers (January Update)

Vehicle sales in China were 0.2% higher in January than one year ago.   Winter economic activity and data are always distorted by the changing timing of the Lunar New Year which fell on February 8 in 2016 and January 28 in 2017.  Despite the uncertainty introduced by the holiday, two trends stood out: Passenger vehicle … Continue reading Impact of Recent Vehicle Sales Trends on US Listed Chinese Auto Suppliers (January Update)

Impact of Recent Vehicle Sales Trends on US Listed Chinese Auto Suppliers (December Update)

Vehicle sales in China were 9.5% higher in December than one year ago. December passenger vehicle sales were 9.1% higher than one year ago  with fading support from the purchase tax reduction that began in October 2015.  The tax rate on qualifying vehicles will rise from 5% in 2016 to 7.5% in 2017, still below the normal … Continue reading Impact of Recent Vehicle Sales Trends on US Listed Chinese Auto Suppliers (December Update)

Impact of Recent Vehicle Sales Trends on US Listed Chinese Auto Suppliers (November Update)

Vehicle sales in China were 10.9% higher in November than one year ago. November Passenger vehicle sales were 10.5% higher than one year ago  with continued support from the purchase tax reduction that began last October and will continue until the end of this year.  There’s some speculation that the tax benefit will be extended to 2017. … Continue reading Impact of Recent Vehicle Sales Trends on US Listed Chinese Auto Suppliers (November Update)

Impact of Recent Vehicle Sales Trends on US Listed Chinese Auto Suppliers (October Update)

Vehicle sales in China were 18.7% higher in October than one year ago. October Passenger vehicle sales were 20.3% higher than one year ago  with continued support from the purchase tax reduction that began last October and will continue until the end of this year.  There's some speculation that the tax benefit will be extended to … Continue reading Impact of Recent Vehicle Sales Trends on US Listed Chinese Auto Suppliers (October Update)

Impact of Recent Vehicle Sales Trends on US Listed Chinese Auto Suppliers (September Update)

Vehicle sales in China were 26.6% higher in September than one year ago.   September Passenger vehicle sales were 28.9% higher than one year ago  with continued support from the purchase tax reduction that began last October and will continue until the end of this year.  Year-over-year comparisons may weaken in coming months. Commercial Vehicle sales … Continue reading Impact of Recent Vehicle Sales Trends on US Listed Chinese Auto Suppliers (September Update)