facebook
Corporate Information
Financial Information
Stock Information
Newsroom
Webcasting
Information Request
Home > Investor Relations > >

Email This Print This

20 January 2023


Dear friends,

Thanks for your questions posted over the past week. I am happy to answer your questions online. I will repost the questions in blue italics followed by my comments in black.

Kok Cheng



Dear John Tan, you wrote:

How is the situation in Hainan now that China has decided to live with COVID?

Hi John,

Happy Chinese New Year!

Hainan is undergoing a wave of COVID infection which is disruptive to the business in the short term. Domestic demand has since picked up and we are expecting the resumption of international flights to boost our aquaculture exports.

Thank You!

Best Regards,

Kok Cheng



Dear Sally Yeo you wrote:

How did your sales executive pocket S$38K from 22 customers for the payment of fish tanks as reported by CNA on 14 December 2022? Is it a lapse in the company's internal control in auditing inventory and cash?

Hi Sally,

Happy Chinese New Year!

Sales personnel and delivery man are authorised to collect cash upon delivery. It is our system that picked up the abnormalities when we reconciled our inventory and cash.

Thank You!

Best Regards,

Kok Cheng



Dear Derrick Ng, you wrote:

Your share price is less than your NAV, will you consider buying back your shares?

Hi Derrick,

Happy Chinese New Year!

Qian Hu is a small company with a small float in the market. Buying back our shares will make the shares even more illiquid.

Thank You!

Best Regards,

Kok Cheng



Dear David Lee, you wrote:

Qian Hu has about 20 million in cash, since short term interest rate is high, why not pay back all the short term loans and save on interest cost. 10 million cash is still enough for working capital.

Thanks.

Hi David,

Happy Chinese New Year!

It is our intention to speed up the paying off of loans and be eventually debt-free. However, as we continue to invest in our new Aquaculture business, it is prudent to have a comfortable amount of cash in hand.

Our loan in June 2020 was S$16 million and was sharply reduced to S$9 million by December 2022. Meanwhile, we have invested S$1 million in Bosch's AquaEasy in 2022.

Thank You!

Best Regards,

Kok Cheng



Thanks again to all the investors who have posted their questions here. I hope I have answered them to your satisfaction. The next chance for us to correspond again will be the time when we announce our Half Year 2023 results. In the meantime, do feel free to visit our corporate website: https://www.qianhu.com/ and our IR website: http://qianhu.listedcompany.com/ for more information.

Take care and I looks forward to our next online Q&A.

Kok Cheng

Other Site