Bawang International 1338

Re: Bawang International 1338

Postby winston » Thu Aug 25, 2011 1:41 pm

Not vested. Up 9% now on no news. BTW, I have stopped using Bawang after I have finished my bottle...

===========================================

DATE OF BOARD MEETING

The board of directors (the “Board”) of BaWang International (Group) Holding Limited (the
“Company”) hereby announces that a meeting of the Board will be held on Saturday, 27 August
2011
for the purposes of, inter alia, considering and approving the interim results of the Company and its subsidiaries for the six months ended 30 June 2011 and considering the declaration of interim dividend, if any.
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Re: Bawang International 1338

Postby winston » Tue Nov 08, 2011 3:38 pm

not vested

DJ MARKET TALK: UBS Cuts Bawang Target To HK$1.80 Vs HK$3.40
October 28, 2011


1551 [Dow Jones] STOCK CALL: UBS cuts BaWang International's (1338.HK) price target to HK$1.80 from HK$3.40, after cutting its FY11-FY13 revenue forecasts by 29%-41%, reflecting its conservative assumptions, that recent sales momentum will not be sustained.

After the launch of new packages recent shampoo sales have been encouraging;

The house now expects over 35% on-year growth in July-October revenue.

"Although we observed strong momentum in shampoo sales in recent months, we find it difficult to pinpoint an inflection point of earnings recovery."

The house says earnings are unlikely to recover before 2013, with meaningful earnings growth unlikely to emerge until 2014 as a result.

Source: Dow Jones Newswire
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Re: Bawang International 1338

Postby winston » Thu Jan 26, 2012 4:17 pm

Not vested and I dont use Bawang anymore. However, Jackie Chan still looks ok :P

DJ MARKET TALK: Bawang Slumps 11.6%; Recovery May Take Time -SCR

1551 [Dow Jones] Bawang International (1338.HK) slumps 11.6% to 99 HK cents, after the Chinese shampoo maker said Friday it expects to remain in the red for FY11, as its sales continued to be affected by the 2010 media reports that said its shampoos contained unsafe levels of a cancer-causing chemical.

Such loss is well anticipated with Thomson Reuters consensus pegging a FY11 net loss of CNY386.6 million, vs its FY10 net loss of CNY118.0 million, but investors still punishes the stock.

South China Research says although Bawang may return to a profit for FY12, the estimated forward P/E is as high as 70X. "As such, the share price of the company is not expected to recover any time soon."

Source: Dow Jones Newswire
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Re: Bawang International 1338

Postby winston » Thu May 10, 2012 5:50 am

Bawang in hot water over tea dates by Karen Ha
Thursday, May 10, 2012

Hair-care and herbal tea products maker Bawang International (1338) may face fresh pressure to boost product safety after reports of altered production dates.

After the carcinogen scare over its hair-care products two years back, it is the firm's herbal teas that face scrutiny this time around - with Shanghai-based National Business Daily saying the manufacturing dates on some Bawang tea products sold at a Guangzhou supermarket, were found to have been changed to 2012 from 2010.

The company denied the accusation, but promised to "look into the matter." The Trust-Mart supermarket also said it will launch an independent investigation and the items concerned were pulled from the shelves.

This is not the first time that Bawang has triggered product safety concerns. Back in 2010, some of its shampoo brands were reported to contain cancer- causing chemicals.

Bawang then began tapping the herbal tea market to offset the subsequent fall in hair product sales. Shares remained unchanged at 85 HK cents yesterday .


http://www.thestandard.com.hk/news_deta ... 20510&fc=7
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Re: Bawang International 1338

Postby winston » Thu Aug 30, 2012 7:47 am

not vested

Bawang International (1338), a haircare and herbal tea products maker, said net loss expanded to 327 million yuan (HK$399.2 million) in the first half from 295 million yuan a year ago due to declining sales.


Source: The Standard HK
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Re: Bawang International 1338

Postby winston » Fri Mar 22, 2013 6:15 am

Not vested

I have cautioned a few times not to touch Bawang Group (1338), the mainland shampoo maker that used Jackie Chan in ads when listing in 2009.

Within a few months of its trading debut the stock doubled from HK$2.6 to more than HK$6.

It closed yesterday at HK$0.48 after reporting losses reached 618 million yuan (HK$771.4 million) last year.

Source: Dr Check, The Standard HK
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Re: Bawang International 1338

Postby winston » Mon Mar 10, 2014 8:56 pm

not vested

BAWANG GROUP (01338.HK) expects huge decline in full-year loss

BAWANG GROUP (01338.HK) +0.020 (4.706%) issued profit warning, expecting to continue to incur net operating loss for the year ended 31 December 2013.

The loss was primarily due to the decreases in the sales revenue of the continuing business of the Group of approximately 11%.

However, it is expected that the amount of net operating loss for 2013 would be substantially less than the year ago period as a result of the combined effect of the cost saving measures adopted by the Group.

Source: AAStocks Financial News
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Re: Bawang International 1338

Postby winston » Wed Mar 04, 2015 6:53 am

not vested

Shampoo firm `made to look greedy, inept'

A Next Magazine article allegedly depicted mainland company Bawang International as an irresponsible, incompetent and greedy herbal shampoo manufacturer that disregards users' safety, the Court of First Instance heard.

Barrister Jason Pow Wing-nin, for Bawang, continued his opening submissions in the libel case, responding to claims made by the article published on July 14, 2010 that reported the long-term use of his client's shampoo products would cause serious danger to health.

The article, Pow said, was structured in "successive information input," both in content and visuals, with varying typesets that attracted readers to certain words.

Reasonable readers would get the impression that regular and daily use of Bawang would cause cancer; and that the maker had knowingly used "cheap and inferior raw materials" containing the chemical 1,4-dioxane, even if it may be harmful to users' health, showing little regard to safety, Pow continued.

He said the article further alleged that Bawang had exploited loopholes.

"What impression does it give to the reader? Bawang, a good guy or a bad guy? It's as simple as that."

Pow said that while a person may be exposed to 1,4-dioxane by inhalation, ingestion or dermal contact, absorption through dermal root is very limited.

Although the substance has been scientifically proven to be carcinogenic to mice and rats, Pow said: "There is insufficient reliable, published, scientific, medical data or dermatological evidence to show it is carcinogenic to humans."

Asked by judge David Lok Kai-hong whether a degree of allowance should be given to the reporters, Pow replied: "At the time the reporter wrote the article she did not have the experts we had, and one cannot expect journalists to be gods."

Bawang International (Group) Holding and Bawang Guangzhou are suing Next Magazine for nearly HK$560 million. The trial continues.

Source: The Standard HK
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Re: Bawang International 1338

Postby winston » Thu Mar 05, 2015 3:49 am

Barrister for shampoo firm tears magazine to shreds by Jasmine Siu

The standard of journalism in Next Magazine was questioned in court by a barrister for a mainland shampoo maker.

The magazine is accused of publishing a libelous article that alleged Bawang was making carcinogenic herbal shampoo.

Jason Pow Wing-nin said yesterday: "Calling it a poison to consumers ... There was no responsible journalism overall."

The article alleged Bawang shampoo products exceeded acceptable levels of 1,4-dioxane a substance that affects liver and kidney functions, and may even cause cancer.

Pow argued that two experts interviewed did not make "sweeping statements" claiming 1,4-dioxane is carcinogenic to humans because the scientific evidence only applied to the animals tested: rats and mice.

Pow also pointed out that a written reply by Bawang was only briefly quoted. It was at most "a euphemistic attempt" to include a company response in the article.

"[The reporter] was selective and biased ... And selectively ignored materials that are neutral and beneficial to [Bawang]," he said.

Though Next Magazine maintained that it is company editorial policy to give subjects only a day to respond to limit the exposure of an investigation and prevent a possible dilution of an exclusive report, Pow said it is a bad excuse.

"Whilst news is a perishable commodity, at the same time urgency must be viewed in an angle of public interest, not your media's interest," he said.

Furthermore, Pow said the headline had been changed from "Bawang contains carcinogens" to "Bawang is carcinogenic" before the company even replied to the magazine.

Asked by judge David Lok Kai-hong whether Bawang's 1,4-dioxane is within acceptable levels, Pow replied: "I think so, I think so."

He had reservations as the reporter had quoted a Californian standard stating that levels beyond 10 parts per million would be "actionable."

Bawang International (Group) Holding and Bawang Guangzhou are seeking damages of nearly HK$560 million.


Source: The Standard HK
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Re: Bawang International 1338

Postby winston » Fri Mar 06, 2015 7:01 am

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Magazine hits back on shampoo story

The public has the right to know if any shampoo contains substances that can or may cause cancer, the defense counsel said yesterday in a defamation trial involving mainland maker Bawang.

Opening the defense for Next Magazine, barrister Benjamin Yu said: "It is of public interest to inform and to get the public interested in what the manufacturers are doing with the 1,4-dioxane found in shampoos."

Bawang is claiming HK$500 million from Next Magazine for damage to its reputation caused by an article, dated July 14, 2010, which alleged the shampoo maker had manufactured carcinogenic products without acknowledging its fault.

"The article never said that Bawang knew that containing 10 parts per million or 27ppm of 1,4-dioxane will cause cancer," Yu said.

A reasonable, ordinary reader with a fair mind would know the article had portrayed the issue as a controversial one.

"Some manufacturers have taken action, but this particular one did not, shielding behind the law that doesn't require it to do so as it did not expressly provide for a limit," he continued.

The reporter read through international and mainland studies and surveys, and consulted experts, with an academic saying that 10ppm is "a dangerous area," Yu said.

"And she would be influenced by them."

Bawang was found to contain 27ppm.

Judge David Lok Kai-hong pointed out: "You gave Bawang only hours to respond."

Yu replied: "There is no suggestion that if you've given them one more day, or one more hour, you would be given a different response."

Bawang International recorded a loss of 573 million yuan (HK$709 milllion) after publication of the article.


Source: The Standard HK
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