Actually BYDDY is the ADR and it represents TWO shares (thus its price of 2X a single BYDDF). One reason BYDDY volume is lower is because 1/2 the volume equals the same number of shares. According to Schwab BYDDY clears in New York and BYDDF clears in Hong Kong but I am not sure I buy this explanation, but CS charges a foreign transaction for BYDDF and a domestic one for BYDDY. Both are OTC (over the counter) pink sheet stocks which have a reputation for not meeting USA regulatory filing requirements and likely why they are preferred by ownership which seems to have a problem with communicating in a timely fashion, as in the current situation where we don't when, where or why trading will be resumed and what the new dilution is. Methinks if the private placement is Warren Buffett then the stock will skyrocket. If it is another Wang Chung #$%$ (sp) cousin and his wife, then the whole thing continues to be sketchy. The second largest shareholder is Wang's cousin and his wife right now. All they need to do to make me feel better about the whole thing is do a proper USA listing such as Toyota (TM) and Ali Baba and countless others have done. Remember these guys go to the well for a couple of billion cash every couple of years because 165,000 lcommunist workers and their families need to eat.
Thumbs up for the link. Here is a paste from that Press Release which appears to have been printed verbatim by this version of Bloomberg. But look at what it actually says. "The Shenzhen-based automaker yesterday said its first-quarter profit will probably rise as much as 12-fold from a year earlier on increased demand for new-energy vehicles and handset batteries as well as sales of two new sport utility vehicle models. The company reported full-year net income slumped 19 percent from a year earlier, dragged down by its automobile and photo-voltaic businesses". This is why you gotta love these guys. They release a terrible annual report (profit actually down 21.1% from the year-ended 90 days prior), blow it off as inconsequential and then glibly say BUT WAIT, next year we are going to be up 12 fold or whatever and the stock goes up 10%. A speculators' dream this stock. Purely manipulative and their P/E in Hong Kong is now 196.46 x trailing earnings and they still get a pass because every single press release starts with Warren Buffett. However you can't fight the tape as they say. You might as well ride this one until it bucks you off.
To paraphrase Willie Sutton "Because that's where the money is". BTW, I will let you know how much tax from my IRA Schwab sends to the fed as a result of one of my boxes being over $1K as per their request I sent them a copy of K1 to their tax compliance office.
Received mine via snail mail 3/20. My Box 20 A is $1,762; Box 20 V is $670 and then it is all over stamped with "DO NOT USE" and refers me to a Supplemental K1 where a whole run of numbers ETP, APU,SXL and SUN are given. That particular number is then nowhere to be found. Off it goes to the CPA.
I don't want to beat the metaphor over the head with a dead cow BUT I didn't say the price of milk. I said the price of beef. ETP is in the "dairy" business and as long as its biz plan works, the price of a steak is neither here nor there. It does not buy or sell oil but it is tangentially exposed to the price of oil obviously. You make a valid point with Shell, but I have seen them go up and down so often that I am confident that management will do what it takes to maintain the dividend and when they are done doing that and the price of oil recovers then the stock will be even stronger. Adversity builds strength.
I still own RDS/B which is my second highest yielder after ETP at 5.25%. Given the tanked price current yield is just under 6%. I kind of look at this as a little like farming. You don't slaughter the milk cows when the price of beef goes up or down.
Hey. Why do you let him get to you? I just put him on ignore a year ago and it works fine. His posts show up all greyed out which is apt.
Succinct and cogent analysis. That's it in a nutshell and why I won't invest here again, irrespective of 10% daily swings up and down. They always run out of cash because they are employing 150,000 Chinese people and the government agrees this is a good thing, especially when foreign investors will pay their salaries. It is indeed Chinese Checkers and just like the stuff from China that we buy at Walmart that doesn't work for more than a week this whole pyramid is all about keeping Chinese people gainfully employed. Like the cities with no people in them give jobs to hundreds of thousands construction workers, year in and year out, auto factories that produce auto's with no unsubsidized keeps that fictional 7.5% GDP number humming.
I do hold ETP in an IRA as well as AAPL and many others but that does not necessarily mean it is tax sheltered. The K1 spells out what portion of the proceeds is tax exempt and what portion is not and that has a tax consequence irrespective of the account in which it is held. Simply put investment proceeds are tax exempt. Gains from the sale of ownership interests in a business are not. AAPL dividends in an IRA are tax sheltered. ETP distributions not necessarily so and I don't even want to start a discussion about UBIT...Unrelated Business Income Tax. There is still an issue up in the air as to whether or not income generated from Gas Station stores as in Sunoco is related or unrelated. That is just another way in which distributions are different from dividends. I can't figure it out and I suspect a great many people, professionals and others just sweep all these nuances under a rug and hope no-one will notice, which is why I ended my last post with "Good Luck to us all".
Most people don't seem to be getting the fact that the yields are higher because these are not dividends but distributions. The former are paid out after taxes by the company and then taxed again at the other end when taken into the income of the recipient. In other words the IRS gets two bites out of the apple. The latter are paid out pretax so that the tax liability and reporting obligation falls to the partner/owner i.e. you and me and the IRS gets no bite out of the apple. That is why the yield is 2X a normal dividend and why there is mandatory reporting directly to the IRS from the banker/broker. I would assume this is because of a lack of compliance on the part of the recipients' distributions. Good luck to us all.
You know I get that and every investor has different needs and styles, but how in heck do you handle the tax consequences of all of this. I only get a single K1 form a year and even that causes me great consternation and I haven't bought or sold because of it in almost five years. I am afraid to sell because of the tax consequences (even though it is in a non-taxable account) and the paperwork required which I don't know how to handle without professional advice. This is not a "stock" you are trading every other day but an owners' interest in a partnership which has different rules and my broker (Schwab) says that by law they are required all MLP transactions directly to the IRS. Your paper trail must be mind boggling complex? Good luck. I am just clipping coupons on this one for twenty years or so and then when I die someone else can figure out the bloody tax consequences.
They earned 3 cents a share in 2014. Posted on the Hong Long exchange on 2/26/2015. That's paltry, but good news for all the believers as the PE has improved to a mere 143 x earnings.