Hi-P

1. strong balance sheets .NAV of 0.64 cents- mostly cash and fixed assets. low liabilites. cash per share is 0.28
2. lost money for Q1. mgmt advised Q2 to turnaround.
3. div. payment every year but very little
4. customers include apple,braun, motorola, seimens, etc.
5.low net margin 5-10%
6.low barriers of entry
7.owner has more than 50% in this company
8.directors attended 8 meetings a year
9.good mgmt but directors highly paid themselves
10.granting of share options
11.revaluation of rmb might adversely affect their biz. this account for 70% of their biz from america and europe.
12. shares issued 877m free float 24%
13. roe 9%
14.p/b 0.80