More XNET Info & My observations;
Agree with your assessment of Ernest,
he's a no-nonsense guy who has got a plan in the works for XNET but would not elaborate (something beyond just the Chinese ISP business). He didn't seem to even be aware that the stock had closed at an all time high yesterday. Has obviously been working long hours, said he hasn't had a chance to check his email in days. Answered the phone himself when I called this morning. They are currently getting an audit to get more recent financial data, most recent un-audited was Sept. '98 & subscriber base has nearly doubled since then. (increasing about 1000/month according to the investor package)
Some of the site info during the brief time it was up;
Xin Net Management
•Angela DU, B.A., M.Sc. - President
•Michael Liang, B.Sc., Ph.D. - Director
•Ernest Cheung, B, Math., MBA - Director
•Maurice Tsakok, B.Eng., MBA(MIS) - Advisor
•Marc Hung, B.Sc., M.Sc. (E.E.) - Advisor
•James Wei, B.Sc. - President of Xin Hai, responsible for technology and government relations
•Jack Wei, B.Sc. Vice-president of Xin Hai, responsible for sales and marketing
Operations Summary
•Operations became profitable in November/97
after an 8-month start-up period
•One of few (only one in Beijing) profitable ISP's
in China
•Proven and very conservative management
•Steady growth in subscriber base
•Sustainable operating margin
Disclosure; I've been long this stock for several months |
