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99L - 99 Loyalty

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System

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99wuxian Limited (NNW) is incorporated in Hong Kong and through its mobile online marketplace,
99wuxian.com, operates mobile payments gateways of China's major banks, telcos and other
financial institutions. Through these partnerships 99wuxian has access to a market of more than 800
million mobile users and 2 billion debit and credit cards.

http://www.99wuxian.com
 
IPO was pitched at 40c; early scalpers netted up to 50% profit, but on day 2, sanity prevailed.

NNW i5 09-10-13.gif
 
skyQuake said:
Your loss :D
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Yes... Chinese m-commerce, $0 revenue. I should have bought dam it! Just look at stocks like (mind blank... what's that stock that's worth $1B with no revenue and supposedly doing some deal with UnionPay)?

I wish Iress can bloody fix their market cap figure for these CDI's.

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skc said:
Yes... Chinese m-commerce, $0 revenue. I should have bought dam it! Just look at stocks like (mind blank... what's that stock that's worth $1B with no revenue and supposedly doing some deal with UnionPay)?

I wish Iress can bloody fix their market cap figure for these CDI's.

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That would be TUP...
 
McLovin said:
That would be TUP...
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It is not only IRESS which has the market cap wrong. So does CommSec. It wasn't until I glanced at the shares outstanding that I realised NNW was valued significantly higher than the $27 million that CommSec presents its market cap as.

With 1.070 billion shares outstanding (5% of which only have been floated on the ASX) at $0.18 per share, the company is valued at just under $193 million - this is despite having 2014 EBIT of only $1.7 million. Yet the CEO is "a little bit sad that the share price has not performed better":http://www.afr.com/news/99-wuxian-c...for-future-chinese-asx-floats-20150505-1mx00f.

Apparently, NNW's current P/E of 138 should be a lot higher in Ms Zhang's eyes! Sometimes there are no words.
 
skc said:
Yes thanks. I did think of it eventually but the slowness of my brain had me worried.... I hope it's just the recent heat affecting it - or may be it is old age.
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SKC
well said some two years back . 60 cents then is giving 18 cents per share and if you calculate the fall in Aussie dollar the real value of 18 cents today is much less in 2013 for those invested US dollars then.
I never heard of this share however and was just curious to see new postings on ASF.
Out of the context, now a days ASF has thinned down on postings just like iron ore price since 2013 era.
Do not hold and not following this any way
 
NNW spiking hard in the last couple of hours. Currently up 100% to 10c. There has been an increase in volume in the last few days, particularly yesterday. No announcements from the company this week.

Some news coming?
 
99 Wuxian continues its unexplained run this morning. The company gave the standard "we know nothing" reply in response to a speeding ticket from the ASX in relation to yesterday's increase in price and volume. However, it is clear that something is up, the question is - what?

NNW closed at 12c yesterday and today it gapped up, opening at 15c and reaching a high of 19c. It is currently trading at 16c.

big.chart-NNW.gif
 
The 99 Wuxian roller coaster ride continues. After plunging to a low of 6.5c at the end of October it began to take off earlier this week and has leapt back to 12c in short order.

The crazy part to all this is that there have been no announcements in the last week (or even the last few months) that could account for this week's share price gains. The ASX predictably sent the company a price query yesterday but received the usual "we know nothing" response in reply.

So, I have no idea what's going on here, but those that bought in last week have done very well for themselves.

big.chart-NNW.gif
 
When I called NNW a roller coaster ride in December last year, I wasn't kidding. It appears to go through cycles of sharp share price spikes followed by slow declines.

Today, it has spiked again following the release of a March Quarter 2019 update which detailed a 72.73% increase in revenue and a 31.61% increase in gross profit when compared to the same period in 2018.

The company also outlined the following operational highlights of Q1 2019:
  • The Company secured approximately 160new Business Partners for the quarter
  • Increased revenue resulting from online insurance product sales through the Company's Cloud delivered services
  • Transaction values of approximately RMB 2.2 billion
  • Margin increase resulting from the introduction of insurance products
On the surface these would appear to be great results. But the history of NNW's price action makes me wary of this company and I'm expecting that the current spike will be followed by another slow share pirce decline. Time will tell of course, but I'm watching this one from the sidelines.

NNW currently up 66.67% to 11.5c after reaching an intraday high of 15c on volume of over 4.2 million shares.

big.chart-NNW.gif
 
On April 21st, 2020, 99 Wuxian Limited (NNW) changed its name and ASX code to 99 Technology Limited (NNT).
 
On June 7th, 2021, 99 Technology Limited (NNT) changed its name and ASX code to 99 Loyalty Limited (99L).
 
On December 30th, 2022, 99 Loyalty Limited (99L) was removed from the ASX's Official List in accordance with Listing Rule 17.11, after security holders resolved to remove 99L from the Official List.
 
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