WATG. I'll chance that one as well for a few shares. Looks like p/e is relatively high for a Chinese small-cap at 7+. Otoh, it seems be a real company with products (like airbags) that can be confirmed to be sold to companies outside China. In scanning, I see auditor is Pricewaterhouse. Regarding this auditor, I at least know their name, not that I can assume they protect anyone from fraudulent accounting.
Nov 9:
"The Company raises guidance for full year 2010 sales revenue to $307 million from $300 million, as well as the guidance for full year 2010 net income to $37.5 million from $36 million, excluding the share-based compensation."
33.8 million shares outstanding. Eh, roughly then 37.5/33.8 = $1.10/sh for 2010 earnings
"Nov. 23, 2010 /PRNewswire-Asia-FirstCall/ -- On November 23, 2010, Wonder Auto Technology, Inc. (Nasdaq: WATG, "Wonder Auto") announced that management estimates that its revenue for 2011 will be about $445 - $455 million."
So very very roughly, MAYBE and IF revenue estimates are achieved, maybe I can ratio 445M/307M to get 1.45x$1.10/sh to get $1.60 per share earnings in 2011. On a stock like Wonder Auto which trades now at $8.09, that possible p/e of 5 looks attractive to me. |
