PMHL was floated on AIM in January 06 with a market cap about twice that of WCC.
It's figures (go to www.londonstockexchange.com) to December 06 were pretty healthy and they even appear to be paying a divi.
In common with WCC, the shares look pretty illiquid (RNS = 3000 against 2000 for WCC) and volumes light, though significantly greater than for WCC.

Sunday Times brief specific comment of 3rd June 2007 copied below - it was part of a very much longer article about investing in China .....
Prosperity Minerals - China has become the worlds largest cement producer with an output of 1 billion tonnes a year. Domestic demand is expected to reach 1.2 billion tonnes by 2010. Cement is expensive to move around so it needs to be made by local firms such as Prosperity, one of Hargreaves favourite stocks at 153p.

At time of writing I have not yet put in any money.

Chart looks very encouraging insofar as a nice golden cross, albeit only bewtween 25 + 50 dma has now formed.

This has gone down to record lows

Funding of both PMHL and WCC are "strange" imo and could lead to lower lows in the times ahead of us.

Profit warning from Prosperity Minerals - MoneyAM


Prosperity Minerals Holdings, which operates a cement manufacturing business in the People's Republic of China and an iron ore trading business serving the same market, today issued the following trading update.

The Company traded profitably for the six months ended 30th September 2008 with its profits from operations from Yingde Dragon Mountain and iron ore trading slightly lower, but the share of profits from associates was substantially lower than the corresponding period a year ago.

The demand for cement and iron ore is expected to weaken in the second half of the fiscal year due to a marked slowdown in the growth of the Chinese economy.

The export oriented economy of Guangdong Province, the Company's main market for cement, is being adversely affected by the global economic crisis.

Residential and commercial real estate sectors are experiencing widespread deferment and cancellations of projects; on the other hand, infrastructure is holding up well.

Second half cement prices are not expected to benefit from the same seasonal uplift as last year.

A number of the major steel mills in China have recently announced reductions in their production by up to 20% due to the sharp reduction in the demand for steel.

The rate of growth of iron ore import levels are expected to reduce substantially in the coming months and iron ore spot prices have declined significantly.

As a result, it is anticipated that the Company's full year results will be substantially below current market expectations.

Profits from operations at YDM for the six months ended 30th September 2008 was slightly lower than in the prior year, but volumes sold remained broadly the same. Trading conditions deteriorated during the summer due to unusually poor weather conditions and the effects of reduced activity around the Beijing Olympics. The start of the current construction season in September has not been as strong as the previous year and, in addition, margins have continued to come under pressure due to high coal prices.

Similar factors have affected associated companies including a plant upgrade, which required the need for temporary shut downs in April and May. Profits for the first half will therefore be materially below expectations.

The company expects the challenging trading conditions to continue into the second half of the year.

For the six months to 30th September 2008, trading was broadly in line with the prior year. Iron ore shipments amounted to 1.9 million tonnes in the period compared to 1.8 million tonnes in the prior year. The margin achieved was slightly below the same period in the prior year due to the mix of supply being weighted towards South Africa. The Company expects to ship less iron ore in the second half of the fiscal year.

Chairman & CEO David Wong said, 'It is never an easy task to report bad news, but we are all currently living through truly extraordinary economic times. Once the global economy has returned to normal, I am confident about the medium and long term prospects in the PRC both for cement manufacture and iron ore trading. Our cement assets are highly efficient and, even in the current market, continue to operate at or near full capacity. Similarly, Prosperity has an excellent iron ore trading model in which we do not take inventory risk positions. I look forward to being the bearer of better news.'

am glad to say, i never did put any money in ...... yet another spiffing chinese stock!

Good to know you haven't, cynic. All these Chinese companies are unlikely to recover.

my opinion of chinese stocks is well publicised!

This seems to have gone off pepe's radar, Director deals going on. Any ideas anyone.

Good rise today presumably on the back of the sale of their cement business for 300m.

cash on its way, and also still own 33% of another chinese cement co.

Likely SoP about 280p - not sure how much of the cash we're going to see though, worrying comment from management about property investment in china...

cynic started this thread suppose he would take his usual "jaundiced" view of this chinese share.

indeed i would - coloured to match the wily oriental!
tread with care, not only because of the parentage, but also the low trading volumes

cynic the wily orientals as you call them seem to have a much better economic future than we do at present,ours being rather brown like......

You mean brown like s**t.

the chinese economy may have a better outlook, but that does not mean you should not take a pretty jaundiced view of many of their business practices

cynic so you are not "tarring them all with the same brush", or are you? can't understand why you started this thread when you appear to have a rather bigotted view of the chinese.

i posted this for the clearly stated reasons in the header.
my view of chinese business ethics is born of experience ...... i have even had the "treat" of being presented with a set of accounts from a chinese company that was part-owned by the gov't and who wanted to deal with us ..... they were a total joke!

Shares mag says a bargain at current price, target 250p is this the share of the month?

hlyeo98 - 04 Nov 2008 17:48 - 6 of 18
Good to know you haven't, cynic. All these Chinese companies are unlikely to recover.


Seems this one has :-)
(for the time being)

ramper :)

Shares mag seems to have got this one right, roaring ahead on today's RNS.