Pan-Asia Catalysts/Events, Quiddity Advisors

Travis Lundy

Pan-Asia Catalysts/Events

Event-Driven

When Sinomedia's chairman and founder's companies announced June 11th of this year they were going to sell their 53.4% of shares in Sinomedia (623 HK) to an "Independent Third Party", <a href="http://www.smartkarma.com/insight_providers/12" target="_blank">Jon Foster</a> and I had a chat to hash out why.We didn't like what we saw, at all, and Jon wrote a piece on it titled <a href="http://www.smartkarma.com/insights/if-it-looks-like-a-duck-and-quacks-like-a-duck-caveat-emptor" target="_blank">If it Looks Like a Duck and Quacks like a Duck, Caveat Emptor.</a>This deal duck is now dead. It is an ex-duck. Those interested in buying bombed out stocks would do well to look at the financial results released Wednesday. There is some weird stuff in there which doesn't jive internally with what they say elsewhere and doesn't jive with the way the rest of their market is headed. Advertising revenue dropped 26%. Integrated Brand Communications Services revenue dropped 43%, or 100%. I am not clear which. Internet Media &amp; Content Revenue dropped 63%. And the content of their Financial Summary and Outlook does not instill confidence in any way.Furthermore, the buyback conducted Thursday and Friday saw the company buy back more than 50% of the volume on each day, and the stock rallied very hard in the closing minutes to close down a total of 1% across those two days, despite horrific earnings and horrific markets elsewhere. I still wouldn't touch it. More below the fold...

When Sinomedia's chairman and founder's companies announced June 11th of this year they were going to sell their 53.4% of shares in Sinomedia (623 HK) to an "Independent Third Party", Jon Foster and I had a chat to hash out why.We didn't like what we saw, at all, and Jon wrote a piece on it titled If it Looks Like a Duck and Quacks like a Duck, Caveat Emptor.This deal duck is now dead. It is an ex-duck. Those interested in buying bombed out stocks would do well to look at the financial results released Wednesday. There is some weird stuff in there which doesn't jive internally with what they say elsewhere and doesn't jive with the way the rest of their market is headed. Advertising revenue dropped 26%. Integrated Brand Communications Services revenue dropped 43%, or 100%. I am not clear which. Internet Media &amp; Content Revenue dropped 63%. And the content of their Financial Summary and Outlook does not instill confidence in any way.Furthermore, the buyback conducted Thursday and Friday saw the company buy back more than 50% of the volume on each day, and the stock rallied very hard in the closing minutes to close down a total of 1% across those two days, despite horrific earnings and horrific markets elsewhere. I still wouldn't touch it. More below the fold...

Requiem for a Duck - Looked, Quacked, Caveated, Dead - STILL CAVEAT EMPTOR. 

Hong Kong

Next Digital Limited is a media company. The Company provides newspaper, magazines, and web and mobile content. Next Digital predominately serves customers in Hong Kong and Taiwan.

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Next Media Ltd (282 HK)

Requiem for a Duck - Looked, Quacked, Caveated, Dead - STILL CAVEAT EMPTOR.

When Sinomedia's chairman and founder's companies announced June 11th of this year they were going to sell their 53.4% of shares in Sinomedia (623...

Travis Lundy

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