Financial results for three months ended 30 June 2012 and for the six months ended 30 June 2012 will be significantly lower than the corresponding prior periods.
In addition, the net profit for 2Q2012 is also significantly lower than the three months ended 31 March 2012.
[hr]
[garl 24-07-2012]:
It will probably take a few months before Midas gets a fresh hi-speed train contract, cos it's not a direct bidder. The stock price might drift sideways from here at 37 cents, as people take profit and on lack of news catalyst. The 2Q profit figure will be low. Just my 2 yuan worth. I would be keen to buy on weakness.
The stock price weakness is as expected because of the uncertainty over the 2Q profit. However, after the results are released, I expect greater clarity to be given by the mgt. Then the stock price will march upwards again toward 40 cents.
32-33 cents would prove to be a good support level for the stock.
Consolidate a bit more.
By month end, can expect it to firm up. By year-end, would have easily touched 45 cents.
Just my wildest optimistic scenario. Believe at your own peril
Midas Holdings said joint venture company, Nanjing SR Puzhen Rail Transport Co, has won two metro contracts in the China worth a total of 1.4 billion yuan ($275 million).
The first contract was awarded by Wuxi Rail Transport Development for the supply of 23 train sets, or 138 train cars, for the Wuxi Metro Line 2 Project.
The second was awarded by Hangzhou Metro Group for the supply of 27 train sets, or 162 train cars, for the Hangzhou Metro Line 2 Project.
NextInsight
a hub for serious investors
