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Weekly Update: April 22, 2021
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Breaking News
Tesla cars can drive with no one in the drivers seat!!
That begs the question what you could get up to in the back seat!!
Yahoo Finance 4-22-21
It seems that Tesla is falling behind other automakers like GM and Ford that have advanced driving systems, and how will they fare against Chinese competitors?
One thing is for sure the futuristic world of the Jetsons is on its way.
Great interview with Gerald Johnson, GM Executive VP of Global Manufacturing to discuss the company’s push for an all-electric future.
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Introducing the new: China Stock Alerts Newsletter
China Stock Alerts provides timely information on China and the Chinese companies listed in the US on our website and daily newsletter. Please SUBSCRIBE for our daily newsletter, which is sent out before the market opens and features previous day gainers and losers, market and company specific news, and an updated calendar of earnings.
China Stock Alerts
TOP NEWS
April 22, 2021
- How Much Should Investors Be Worrying About China? (Bloomberg)
- De-coupling from China would be the wrong way to go, Germany warns (Reuters)
- China’s outbound-investment rankings see US, Australia downgraded amid rising political conflict, deteriorating relations (SCMP)
- Tesla Should Brace for Impact in China (WSJ)
- Shipping industry beset with delays, container shortages as ‘ripple effect’ of Suez Canal blockage continues (SCMP)
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4-14-21 Can B Corp. (OTCQB: CANB)
Strong Gross Margin of 84%
Efficiencies and Lower Expenses Lead to a Significant Reduction in Operating Loss
HICKSVILLE, NY / ACCESSWIRE / April 14, 2021 / Can B Corp. (OTCQB:CANB) (“Can B” or the “Company”), a diversified health and wellness company, announced today operating and financial results for the year ended December 31, 2020.
“As it was for many companies, 2020 was a challenging year for us,” commented Marco Alfonsi, Can B’s Chief Executive Officer. “We took the time to right-size our expenses, focus our energy on higher margin revenue opportunities and improve our positioning for future growth and profits.”
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4-7-21 Greenridge Global Securities Issues Update
Apollo Future Mobility Group, Ltd.[HKSE: 0860]
Buy Rating-Target HK$ 1.50
Deal Announced With Shanghai Jinqiao To Launch Apollo EV Prototype Later This Year
Shanghai Jinqiao EV Deal Announced. On March 30, AFMG announced it signed an agreement with Shanghai Jinqiao [SS: 600639 / 900911] to develop and manufacture EV sports cars, luxury vehicles and SUVs with the “Apollo” brand name in the Development Zone in Pudong, Shanghai. AFMG intends to create a JV with a local partner and will set up a R&D center, regional headquarters and production lines in the Development Zone. Jinqiao will provide land for the plant and work with the government to secure capital for the project, similar to the deal Tesla [Nasdaq: TSLA] received. Management believes the location is ideally suited from a supply chain standpoint, with numerous auto-related companies in the Development Zone. We believe this arrangement is likely the result of AFMG’s strong showing at CIIE in November. The prototype vehicle, which will be designed by Ideenion and incorporate solid state batteries, 800V SiC dual inverters and 3D printed parts, will launch later this year, with commercial production expected in 2023. Should AFMG find a solid partner, this deal could create unique a domestic China EV brand that showcases the Company’s technology and design expertise. Additionally, it could completely transform AFMG’s financials and create a substantial increase in the Company’s stock price given the valuations of other EV companies.
Legacy Property Sold. On March 30, AFMG announced it agreed to sell its legacy commercial property in Shenyang to an unrelated buyer for HK$200,000,000, which carried a NAV of HK$199,063,000. Legacy asset divestitures have been expected for some time and this marks another step towards exiting old business lines as generating cash to be put into the mobility business.
EV Power Update. On February 25, the Company announced that EV Power accepted an equity investment from a HK-listed telecom company. The size of the investment and the valuation were not disclosed. The investment drops AFMG’s ownership in EV Power from 38.08% to 32.66%. By way of comparison, EV Power and Blink Charging [Nasdaq: BLNK] each have roughly 23,000 charging units. Blink has a market cap of US$1.80 billion, which when placing equal value to the charging units, would make AFMG’s equity position worth roughly HK$4.6 billion, or slightly more than 860’s entire market cap.
Model Update. Despite the magnitude of the announcements, we made few changes to our model. We will hold off on adding any impact on the Apollo EV announcement until a JV partner is announced and there is a better idea of how that will be structured and funded.
4-6-21 Perpetual Industries, Inc. (OTC: PRPI)
Perpetual Industries Acquires the AutoGrafic Software System
AUBURN, Ind., April 06, 2021 (GLOBE NEWSWIRE) — via InvestorWire — Perpetual Industries Inc. (OTCMARKETS:PRPI) (“Perpetual” or the “Company”) today announces it has completed its acquisition of the AutoGrafic Software System.
AutoGrafic is a software as a service (SaaS) and social application that utilizes cutting-edge technology to host a myriad of aspects for automotive promotion and preservation. It targets global collector car and automotive enthusiasts who want a unique, multifaceted, interactive automotive experience that is focused on a visual-based social community, collection management, social events, auctions, insurance, research, preservation and historical documentation.
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3-31-21 Greenridge Global Securities Issues Update
Guangdong Land Holdings, Ltd. [HKSE: 0124]
Maintaining Buy Rating and Target HK$5.00
Dividend Announced As Portfolio Development Continues On Schedule
Strong Laurel House Sales Drive Down Margins And Profit. GDL reported Revenue of RMB 2,101.8 million in H2:20, inline with our estimate. The bulk of the Revenue in the period was from Laurel House, which delivered 22,425m2 in the second half, bringing its amount delivered to 82.6%. There is another 8,545m2 contracted and awaiting delivery, which brings the total contracted GFA to 95.6%; GD●Delin ended with an occupancy rate of 85.4%. NW Land of GDH City delivered 4,577m2 in H2:20 after making initial deliveries in June. However, GDL added 20,279m2 in contracted sales during the period, bringing the total contracted GFA to 38,902m2 and foreshadows stronger 2021 Revenue. The remainder of the Revenue in the period was from delivery of car parking spaces at Ruyingju. Operating expenses surged in the period, with SG&A more than doubling from the year ago period to HK$262.0 million. The increase was related to the expansion of sales activities, specifically with GDH City, and the greater number of properties in GDL’s portfolio. Net Loss for the Period was HK$54.9 million, worse than expected due to higher SG&A and lower Gross Margins due to the Revenue mix skewing heavy towards Laurel House.
Dividend Announced. GDL announced a dividend of HK1.53 cents per share for the year ending 2020, which comes as a bit of a surprise given it is using a significant amount of cash for its ongoing portfolio development. We believe the dividend shows management’s confidence in the development of the portfolio in a profitable and on-budget manner. The date of record for payment is expected to be on or around June 25, 2021.
Model Update. The biggest changes to our model was adjusting H1:21 related to GDH City and Laurel House, as well as increasing the SG&A going forward. The net results had a minimal impact on the overall model.
Maintaining Rating & Target. The Company reported another period of strong unit sales and deliveries, with the entire portfolio continuing to move on schedule. With no meaningful changes over the model we are reiterating our Buy rating and HK$5.00 target price on Guangdong Land Holdings. Our target price is based on our DCF model that covers GDL’s entire project portfolio, discounted at 6.5%.
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2-29-2021 Antibe Therapeutics Inc. OTC ATBF (TSXV:ATE)
Antibe Therapeutics Receives FDA Clearance of IND Application for Otenaproxesul for Osteoarthritis Pain
– Enables expansion to U.S.-based clinical trials, advances preparation for Phase III program
Antibe Therapeutics Inc. (TSX: ATE, OTCQX: ATBPF), a clinical stage company leveraging its hydrogen sulfide platform to develop next-generation safer therapies for inflammation arising from a wide range of medical conditions, today announced that the U.S. Food and Drug Administration (“FDA”) has cleared the Company’s Investigational New Drug (“IND”) application for otenaproxesul, in development for the treatment of osteoarthritis pain. This enables Antibe to undertake human clinical trials in the U.S.; as previously announced, Antibe anticipates initiating its Phase III program later this year.
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3-17-2021 Blue Water Ventures International, Inc. (OTCPK:BWVI) and project partner Endurance Exploration Group, Inc. (OTC:EXPL)
Blue Water Ventures International Signs Extension on Pulaski Recovery
Jacksonville, FL, March 17, 2021 (GLOBE NEWSWIRE) — via NewMediaWire — Blue Water Ventures International, Inc. (OTCPK:BWVI) and project partner Endurance Exploration Group, Inc (OTC:EXPL) through its wholly own subsidiary Swordfish Partners have confirmed that both parties have agreed to an extension of the Pulaski Joint Venture through year end 2022.
The extension will allow the joint venture additional time to complete the recovery on the existing work site of the Pulaski and expand its survey to an additional area of interest, believed to be the resting place of the 2nd half of the Pulaski when she exploded during the night in June 1838. The current area of work includes the boiler and main common areas of the ship. The 2nd area of interest should include passenger staterooms and baggage compartments. Past year’s exploration of the Pulaski site has produced over 500 coins, pocket watches, silver ware sets and copious amounts of shipwreck material.
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3-15-21 SRAX, Inc. (NASDAQ: SRAX),
SRAX Releases the shelf Registration Feature on the Sequire Platform
SRAX, Inc. (NASDAQ: SRAX), a financial technology company that unlocks data and insights for publicly traded companies through Sequire, its SaaS platform, has announced the release of its Shelf Registration Feature. This new Sequire addition combines data and technology to provide actionable insights to public companies in regards to their shelf availability.
The new shelf registration feature joins many other unique and robust Sequire features such as warrant management, situation room, and shareholder surveys.
The shelf feature enables shelf eligible users to review and keep track of their shelf registration and current shelf availability. Included with this is the Shelf Prediction Tool: a real-time application to explore potential “market windows,” showing the impact of market volatility and thus improving funding plans.
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3-18-21 Can B Corp. (OTCQB: CANB)
Can B Corp. Acquires Assets from Leading-Edge Hemp Technology Group
Adds Expertise in Pharmacokinetics for the Confluence of Science, Nature, and Culture
HICKSVILLE, NY / ACCESSWIRE / March 18, 2021 / Can B Corp. (OTCQB:CANB) (“Can B” or the “Company”), a diversified health and wellness company, is pleased to announce it has closed on the acquisition of assets and talent from a hemp derivative development and manufacturing group. A newly formed wholly-owned subsidiary, Botanical Biotech LLC (“BB”), will be the new home for Florida-based research & development laboratory and extraction facility for the Company. BB will focus on developing and implementing new pharmacokinetics technology and partnering with global and emerging brands to create innovative products and solutions that are positioned for sustainability and wellness and are culturally driven.
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3-15-21 Greenridge Global Securities Issues Update
Guangdong Land Holdings, Ltd. [HKSE: 0124]
Maintaining Buy Rating and Target HK$5.00
GDH City Site Visit & Update
GDH City Site Visit & Updates. We were recently able to arrange a site visit of GDH City to get an update on the project, which continues to move on schedule (see pictures on pages 2 and 3). Additionally, we were told the customer interest in the apartments on the Northwest Land continues to remain strong. GDL has also made a number of announcements regarding the selection of contractors for different GDH City projects recently. Earlier this month, it announced contractor agreements for the Northern Land, which is still scheduled to be completed in the second half of 2022. It retained China Construction Dongfang to complete the Office Tower Fitting-Out Work at the Northern Land by January 31, 2022 at a cost of just under RMB 80,000,000. It also disclosed it retained China Construction Shenzhen to complete the Commercial Shopping Fitting-Out Work on the Northern Land by June 30, 2021 at a cost of nearly RMB 62,000,000. Last month, it announced the selection of China Railway Tunnel Group [HK: 390] to complete the tunnel pedestrian link to the subway at the Southern Land, which is scheduled to be completed by July 6, 2021 at a total cost of roughly RMB 79,000,000.
RMB400,000,000 Factoring Agreement. Last week, GDL announced it entered into a RMB400,000,000 factoring agreement with Foshan Yuehai. The factoring service charge will be 6.5%, making it a relatively inexpensive source of cash for continued project development. The agreement will run through the end of 2021.
Year-End Results. GDL will hold a Board meeting on Friday, March 26 to approve the 2020 annual results. We expect the results to be released shortly thereafter.
Model Update. We made no changes to our model.
Maintaining Rating & Target. The site visit was positive and the announced contract terms have largely fallen inline with our estimates. With no changes to our model we are reiterating our Buy rating and HK$5.00 target price on Guangdong Land Holdings. Our target price is based on our DCF model that covers GDL’s entire project portfolio, discounted at 6.5%.
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3-3- 2021 Antibe Therapeutics Inc. OTC ATBF (TSXV:ATE)
Antibe Therapeutics to Present at Upcoming Virtual Investor Conferences
Antibe Therapeutics Inc. (TSX: ATE, OTCQX: ATBPF), a clinical stage company leveraging its unique hydrogen sulfide platform to develop next-generation safer therapies to address inflammation arising from a wide range of medical conditions, today announced its participation in the following investor conferences in March:
H.C. Wainwright Global Life Sciences Conference on Tuesday, March 9, 2021 at 7:00 am (Eastern Time) a pre-recorded company presentation will become available for on-demand viewing.
Roth Capital Partners Annual Conference, Live fireside chat on Monday, March 15, 2021, at 9:00 am (Eastern Time).
Oppenheimer & Co. 31st Annual Healthcare Conference, Company presentation on Tuesday, March 16, 2021 at 9:20 am (Eastern Time).
Maxim Group Emerging Growth Virtual Conference on Wednesday, March 17, 2021 at 10:00 am (Eastern Time) a pre-recorded company presentation will become available for on-demand viewing.
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2-25-21 Perpetual Industries, Inc. (OTC: PRPI)
Video Update with Perpetual and Worldwide Auctioneers following the recent acquisition of Worldwide Auctioneers by Perpetual Industries, Inc.
Check out the latest video with CEO Brent Bedford in this casual fire-side chat with managing partners John Kruse and Rod Egan of Worldwide Auctioneers. They discuss the recent acquisition and share a glimpse into what the future might look like for Perpetual’s new wholly-owned subsidiary.
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2-23-21 Can B Corp. (OTCQB: CANB)
Can B Corp. Executes Definitive Agreement to Acquire the Assets of Imbibe Health Solutions
Business Entrepreneur and Advertising and Marketing Expert Walter Hoelzel to Join Can B
HICKSVILLE, NY / ACCESSWIRE / February 23, 2021 / Can B Corp. (OTCQB:CANB) (“Can B” or the “Company”), a diversified health and wellness company, is pleased to announce it has signed a definitive agreement to acquire the assets of Imbibe Health Solutions LLC (“Imbibe”), a developer and marketer of CBD and related products.
Imbibe has developed several CBD health and wellness products including topical salves, bath soaks, massage oils, and energy and dietary supplements. CANB will be putting Imbibe into one of its current inactive wholly-owned subsidiaries and will be renaming that subsidiary to reflect the products and culture that comes with the Imbibe acquisition.
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2-17-2021 Antibe Therapeutics Inc. OTC ATBF (TSXV:ATE)
Antibe Therapeutics Announces C$35 Million Bought Deal Public Offering
TORONTO, Feb. 17, 2021 /CNW/ – Antibe Therapeutics Inc. (“Antibe” or the “Company”) (TSX: ATE) today announced that it has entered into an agreement with Canaccord Genuity Corp. on behalf of a syndicate of underwriters (together, the “Underwriters”) and pursuant to which the Underwriters have agreed to purchase, on a bought deal basis, 5,850,000 units (the “Offered Securities”) in the capital of the Company at a price of C$6.00 per Offered Security (the “Offering Price”) for aggregate gross proceeds to the Company of C$35,100,000 (the “Offering”).
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2-8-21 Greenridge Global Securities Issues Update
Guangdong Land Holdings, Ltd. [HKSE: 0124]
Maintaining Buy Rating and Target HK$5.00
HK$1.0 Billion Loan Facility Announced
HK$1.0 Billion Loan Facility. Last week, GDL announced it entered into a term facility with an undisclosed bank for HK$1.0 billion. The announcement of such a facility has been expected as the Company continues to add to its property portfolio. We expect the funds will be used for development and operating expenses in between cash receipts from the pre-sale and sale of completed properties.
Acquisitions Completed. On January 13, the Jiangmen Acquisition was completed and on January 18, the Huizhou Acquisition was completed. Please see our November 2, 2020 and December 16, 2020 reports for additional details.
Model Update. We made no changes to our model as we had assumed bank financing and the completion of both acquisitions.
Maintaining Rating & Target. The news since our last update had largely been expected. With no changes to our model we are reiterating our Buy rating and HK$5.00 target price on Guangdong Land Holdings. Our target price is based on our DCF model that covers GDL’s entire project portfolio, discounted at 6.5%.
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Alternative Investments
All kinds of buys in the hospitality Industry especially restaurant and bar properties
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| April 22, 2021 COMPANY QUOTES, LISTINGS RESEARCH AND NEWS Antibe Therapeutics, Inc (ATBPF) Profile 11/11/2018 News AzuerRx Biopharma, Inc. (AZRX) Profile 7/11/2019 News Can B Corp (CANB) Profile News Cavitation Technologies, Inc. (CVAT) Profile 8/22/2019 News Endurance Exploration Group, Ltd (EXPL) Profile 03-26/19 News Guangdong Land Holdings Limited (124) HK Profile 6/6/2019 News H-Source Holdings, Ltd (HSCHF) Profile 4/9/2019 News Summit Wireless Technologies, Inc. 06/04/19 Social Reality, Inc. (SRAX) Profile 02/05/19 News Apollo Future Mobility Ltd. (HK 0860) Profile 2/23/2020 News |
ValuEngine Weekly Report
By: Herb Blank
Evaluating a Hot Hedge Fund Strategy ETF
Lately, ValuEngine has seen ticker GVIP (Goldman Sachs Hedge Industry VIP ETF) on several ETF strategists’ buy lists. The fund’s strategy is intended to take advantage of the highest conviction holdings of “VIP Hedge Fund Managers.” Specifically, GVIP seeks to track the GS Hedge Fund VIP Index, which is constructed in accordance with a rules-based methodology derived from concepts previously developed by Goldman Sachs’ Global Investment Research division. The Index consists of fundamentally driven hedge fund managers’ “Very-Important-Positions,” which appear most frequently among their top 10 long equity holdings. Indeed, many hedge funds use strategies that go long “smart money” holding. By “smart money”, they generally refer to the most profitable hedge funds.
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Event Calendar Updates
Not Surprisingly most conference events are cancelled or postponed-
LD Micro Main Event (XIII)
LD Micro was a great success.
You can listen to the recorded presentations here.
See the Press Release
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