Volume has been 2 and 3 times lately. Short interest at all-time low. The strangest move CEO.
CHONGQING, China, Aug. 15, 2014 /PRNewswire/ -- Country Style Cooking Restaurant Chain Co., Ltd (NYSE: CCSC) ("Country Style Cooking" or the "Company"), a fast-growing quick service restaurant chain in China, today announced that its Chairman and Chief Executive Officer will step down as CEO effective on February 13, 2015, six months from August 13, 2014. Ms. Li will retain her title as Chairman of the Board of the Directors. Mr. Xingqiang Zhang, a co-founder of CCSC and Ms. Li's husband, has been appointed as the new Chief Executive Officer of the Company effective six months from August 13, 2014.
Mr. Xingqiang Zhang is one of CCSC's founders and has served as one of its directors since the Company's inception. From 1996 to August 2007, Mr. Zhang, together with Ms. Hong Li, established and operated nine restaurants which are now part of the Company's consolidated group. Mr. Zhang has valuable experience and knowledge in terms of the daily operations of quick service restaurant chains, which contributed greatly to the Company's successful development. From 1992 to 1995, he served as the manager of two international quick service restaurant chains in Chongqing. Mr. Zhang received his bachelor's degree in economics from Nankai University in 1988.
Ms. Hong Li, Chairman and Chief Executive Officer of Country Style Cooking, commented, "I am honored to have had the opportunity to lead this company for the past seven years and to have expanded the reach of the business to over 300 restaurants in China. After considerable reflection, I intend to spend more time with my family. Mr. Zhang has in-depth knowledge of CCSC's operations, significant understanding of China's QSR industry and is well equipped to lead the company to its next stage of growth."
Although it is only 100 shares we are going to move up big today. If anyone here hasn't read the earning transcript, I suggest reading it in the next 40 minutes. $26M deal spread across this year and signed two more customer which have not been announced who each could end up being Windstream size for the business.
GL Whiskey as I believe we will be rewarded Big today.
All going according to plan...Earnings announced for March 9th They announced while market closed on Monday so we lost a little pop. Current PPS $5.99 VIPS beat and popped 13% on earnings and DANG followed. Today LITB is catching up and will trend higher before earnings. GL
You have more details on CEO shame?
The last two quarters they announced raised guidance and earnings date by now. With record sales on 11/11 (singles days) and black Friday I would think we would get the same news. Still adding but of course it is starting to hurt.
I got nothing for you BU. I have been out since last "earnings" and first time since the IPO year. I did mentioned I thought $2.20+ was a trap, but (seriously) what do I know. It was a crazy ride and I am keeping my eye on it.
Current big holdings:
NQ, CYNI, LITB, CCSC, GDP, FXCM, mentioned BCOV here (took profits)
Good luck all!
Current PPS $5.70. My prediction: Earnings in less than 20 days will be announced soon. The PPS will be well over $6 by earnings day. They will post a beat across the board on provide solid guidance. I have ordered products from them.
No sellers and volume picking up with every move up. Ya know they kept some surprise for earnings. Who would say 40% above guidance when you can say 25% and then beat it. GL Seems only a few left here. Current PPS up 5% today $3.44.
Hey Bum, Did you get back in during recent pullback. Hope ya did. Patience is paying off and with the addition of new sales regions and prob a beat on their raised guidance, guess we will see over $4 this time. The conference calls are quiet. Hopefully, we have some analyst joining.
That is a solid assumption. Just want to chime in and say been watching company for quit some time now and seems we are ready for next leg up. Getting the $50M financing is good, but the interest rate is ugh. Anyway, been loading and see at least a solid climb off bottom and feel they will spend this money smarter than the IPO. Guessing reality has sunk in and they are a little more focused on shareholder value.
Because they are swimming in "free" ones?
It is a good question. I used to ask the same thing when I held DEER. Same story... share buybacks, insiders promise to hold shares, Chinese company, etc. etc. The stock was $11 at the time and now .03. Look it up, it's as if there is a playbook the Chinese follow to drain every last penny from greedy, Western "Investors".