China Ceramics (CCCL) shares appear inexpensive at just 33% of tangible book value and 1.6 times average EPS from 2010-2012, but the company reported a sharp decline in sales and earnings over the 12 months ending 6/30/13. In order to get a better understanding of the business, I traveled at my own expense to Fujian province to meet with management and visit the company's facility in Jinjiang. The company has a second factory in Gaoan in Jiangxi Province that I was not able to visit on this trip. This article will share my firsthand observations. It is not intended as an overview of the complete company, its financial performance, or its corporate governance. Interested investors should read the...
China Ceramics Factory Visit Shows Business Is Fundamentally Sound Despite Weak First Half Sales
Oct 9 2013, 10:18 | about: CCCL
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