Ajisen 538

Ajisen 538

Postby winston » Thu May 08, 2008 12:17 pm

HONG KONG (XFN-ASIA) - Ajisen (China) Holdings said its first-half to June net profit surged 90.6 pct year-on-year to 106.96 mln yuan on the back of a rapid expansion in its chain of restaurants on the mainland.

The number of its restaurants has increased to 167 currently, from 150 at the end of June, and 120 at the end of last year, it said.

The company said it aims to extend further its restaurant chain to 200 by the end of this year and to about 320 by the end of next year.

Turnover for the six-month period rose 41.6 pct year-on-year to 390.88 mln yuan.

Its restaurant operations contributed the bulk of revenue, rising 52.4 pct year-on-year to 361.07 mln yuan.

Ajisen said it has been expanding its food manufacturing and processing facilities in Shanghai and Shenzhen to meet demand from the increasing number of the group's restaurants.

The group currently has 15 production lines in the Shanghai factory and plans to add five more this year, it said.

It also plans to establish a new manufacturing plant in Shanghai next year.

Earnings per share stood at 0.1217 yuan, up from 0.0791 a year earlier.

The board did not recommend any interim dividend.

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

The Group’s nationwide network comprises 232 restaurants. According to China Statistic Bureau, China has a total of 652 cities, and the Group's chain network covers only 40 of them.

To date, Ajisen restaurants have entered 40 cities in 17 provinces of the PRC. According to China Statistic Bureau, China has a total of 652 cities, and the Group's chain network covers only 40 of them.

Among the major cities, the international metropolis Shanghai has the largest number of Ajisen restaurants, being 53, followed by 27 in Shenzhen and 14 in Beijing, together with the remaining 92 restaurants spanning across other major cities from the southern to the northern region of the PRC.

In Hong Kong, Ajisen operates 24 chain restaurants with its chain network covering all the major business areas of the city.
It's all about "how much you made when you were right" & "how little you lost when you were wrong"
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Re: Ajisen 538

Postby winston » Fri Sep 19, 2008 11:14 pm

Vested. One of my bigger positions :?. And I try to eat there at least once a month ...

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

INTERIM RESULTS HIGHLIGHTS

. Turnover rose by 66.7% to HK$753,885,000 (corresponding period of 2007: HK$452,363,000)

. Sales from restaurant operation grew by 68.0% to HK$720,682,000, accounting for about 95.6% of turnover (corresponding period of 2007: HK$428,994,000)

. Gross profit was HK$504,708,000 (corresponding period of 2007: HK$311,285,000), an increase of 62.1%

. Profit attributable to equity holders grew by 8.3% to HK$118,686,000 (corresponding period of 2007: HK$109,548,000)

. Basic earnings per share amounted to HK$11.12 cents (corresponding period of 2007: HK$12.15 cents)

. Total number of restaurants reached 255 by 30 June 2008 and 283 as at the date of this announcement

( Goal of operating a total of 320 restaurants by the end of 2008 ).
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Re: Ajisen 538

Postby helios » Fri Sep 19, 2008 11:34 pm

yo, Winston is Áwesome ...

mei mei don't have the 19-sept value because the EOD was not updated.

Trend has reversed. shooting star at the valley ...

Upside ~7.3 - 7.7

Image

- Daily Chart reviewed on 18-Sept'08.
[Finance disclaimer: The content of this article is intended to provide a general guide to the subject matter. Specialist advice should be sought regarding investing of any stocks/ funds and/or whatsoever. The author has no vested interest in the mentioned stock at the time of writing.
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Re: Ajisen 538

Postby winston » Mon Sep 22, 2008 10:58 am

There was a big jump from 4.80 to 5.80 before the release of the results.

The results were good so why is the stock down 22% today on a strong day ?

What am I missing ?

Management is solid, expansion is on track, business model is good, all their restaurants are always very busy..
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Re: Ajisen 538

Postby winston » Mon Sep 22, 2008 3:39 pm

What do the sellers know that we dont ?

UNUSUAL PRICE MOVEMENTS

This statement is made at the request of The Stock Exchange of Hong Kong Limited.

The board of directors (the “Board”) of Ajisen (China) Holdings Limited (the “Company”) has noted a decrease in the price of the shares of the Company today and wishes to state that the Board is not aware of any reasons for such decrease.

The Board confirms that there are no negotiations or agreements relating to intended acquisitions or realizations which are discloseable under the Rule 13.23 of the Rules Governing the Listing of Securities on The Stock Exchange of Hong Kong Limited (the “Listing Rules”), neither is the Board aware of any matter discloseable under the general obligation imposed by Rule 13.09 of the Listing Rules, which is or may be of a price-sensitive nature.

Made by the order of the Board, the directors of which individually and jointly accept responsibility for the accuracy of this statement.

By order of the Board
Ajisen (China) Holdings Limited
Poon Wai
Chairman
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Re: Ajisen 538

Postby helios » Mon Sep 22, 2008 5:56 pm

1. squeezed by foreign investors exiting the picture?

2. same-stores sale$ in US declining? shouldn't be, if MacD is increasing and doing well in a recession ...

3. check their franchises & licenses, if they are using this story to expand for growth?
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Re: Ajisen 538

Postby winston » Mon Oct 20, 2008 8:22 pm

Vested

Poon Wai owns 52.83% of company

Options of Poon Wai:-
1) Exercise Period begins: 30/03/2008
2) Exercise Period ends: 30/03/2013
3) Exercise Price: 4.650
4) Number of Options: 13,485,000
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Re: Ajisen 538

Postby winston » Tue Dec 30, 2008 8:12 am

20081219 BOCI Initiating Coverage: Ajisen (China) Holdings(0538.HK)
Ajisen (China) Holdings
Defensive and delectable pick

According to a survey made by the China Cuisine Association and the China National Commercial Information Centre, Ajisen (China) ranked the fifth among all fast food restaurants in terms of sales revenue in China in 2007. Starting with 13 restaurants in 2003, Ajisen operated 255 restaurants in the mainland and Hong Kong as at end-1H08. We expect Ajisen to achieve 320 outlets by end-2008 and to further expand its restaurant chain to 400 and 500 outlets in 2009 and 2010, respectively.

Key Points Supporting Rating

Ample room for restaurant chain expansion in China.
Decreasing raw material prices to improve the gross margin.
Affordable per ticket prices for its target customers.

Key Risks to Rating


Average per capita spending may decrease due to the softening economy in China.
Increasing operating costs due to rapid expansion may take years to absorb.
Transparency and execution ability need to be proven as the company has a relatively short track record.

Valuation

Our discounted cash flow (DCF) method derives a fair price per share of HK$6.30.
Pegging 15x P/E to 2009E EPS, we set our target price at HK$4.7 and initiate coverage with a BUY call.
31% CAGR in earnings expected for 2008-10.
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Re: Ajisen 538

Postby iam802 » Tue Dec 30, 2008 11:36 am

very nice chart for Ajisen

It has break out of the cup formation (the lows) and is now trying to break through the kumo.

The first glance shows a thick kumo. However, we can see that it is thinning out towards the end. The forward kumo suggest a resistant at 3.4 and support 3.2

Yesterday's closing price is around 3.67

Image
1. Always wait for the setup. NO SETUP; NO TRADE

2. The trend will END but I don't know WHEN.

TA and Options stuffs on InvestIdeas:
The Ichimoku Thread | Option Strategies Thread | Japanese Candlesticks Thread
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Re: Ajisen 538

Postby winston » Sat Jan 10, 2009 11:44 pm

Vested.

Ajisen blazing trail for ramen lovers in Hong Kong By HISATOSHI RIMBARA HONG KONG
Kyodo News

Lunchtime in Hong Kong's Wan Chai district typically sees a long line forming outside a restaurant adorned with Japanese paper lanterns where the 60 seats are occupied mainly by young women.

"I love a pork soup," said Tse Choi Yan, 20, a junior college student, as she sat around a table with her friends.

A bowl of ramen costs about 30 Hong Kong dollars (about ¥420), compared with HK$20 for a local bowl of noodles.

The restaurant is one of 281 in China operated by the Ajisen Ramen chain based in Kumamoto. The company also has a ramen business in Southeast Asia, including Singapore and Thailand, as well as in the United States and Canada.

Its locally incorporated company in China was listed on the Hong Kong Stock Exchange in March 2007, a rarity for a Japanese-affiliated enterprise here, and BusinessWeek magazine put it at the top of its list of 100 small and medium-size enterprises rapidly growing in Asia.

Its pork soup ramen proved popular at a Kyushu food fair in Bangkok in September.

"Well-to-do people are increasing in numbers in Southeast Asia and tend to buy high-quality Japanese food products, even though they are more expensive," said Assistant Manager Kentaro Oshima, 27.

Liu Yun-hsiang, the late father of Ajisen President Katsuaki Shigemitsu, was a student from Taiwan when he created the distinct soup in Kyushu around 1955 from pork and burned garlic.

Shigemitsu, 40, who succeeded his father, advanced into Taiwan in 1994 but had to withdraw because of sluggish sales, which was partly caused by introducing a diluted soup at the urging of local staff. Yet the number of domestic chain restaurants in Japan now totals 105.

"I wanted to return home in triumph," he said. "So I decided to try my luck with Japanese tastes without catering to local tastes."

In 1996, he opened a restaurant in Causeway Bay, the most bustling area in Hong Kong, at the suggestion of Ricky Cheng Wai-tao, a sushi business owner who together with Japanese chef Yosuke Imada paid ¥9.63 million for a bluefin tuna from Aomori Prefecture at the first auction of 2008 at Tokyo's famous Tsukiji fish market.

Cheng studied in Japan in the 1980s and was impressed by pork soup ramen. "The Chinese have a custom of boiling soup at home. A pork soup is healthy, and I thought it would also be popular in Hong Kong," he said.

As expected, ramen turned out to be popular, with long lines forming in front of Shigemitsu's restaurant.

In Hong Kong, a major food business battleground, there are 700 to 800 Japanese restaurants ranging from ramen shops, pork cutlet outlets and beef bowl eateries to tea-ceremony shops and sushi places. About 10 percent of them are run by Japanese.

"As Japanese meals are safe, all foods are promoted as 'Japanese-style' foods. Tastes are important, but now what is important is safety," said Cheung Kin Man, 48, an official in charge of sales at Ajisen's locally incorporated firm.

The Japanese food boom has been supported not only by China's rapid economic growth but also by its food safety woes, such as the melamine-contaminated powdered milk and fertilizer-tainted vegetables.

But the safety of Japanese food is now being shaken by food scandals in Japan. In addition, China's growth is slowing, raising the chances higher competition among Japanese eateries.

Ajisen, which chiefly relies on Chinese-produced noodles and materials for ingredients, maintains quality control divisions at Chinese firms, where Japanese staff verify the places of production.

But for Shigemitsu that is not enough. "We would like to produce all our materials by ourselves," he said.
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