Daphne International Holdings Ltd. (OTCPINK: DPNEF) stock volume soared Apr. 16, with 1,657,868 shares changing hands, nearly three times its three-month average volume of 580,244 shares.
The Mainland China-based manufacturer of footwear for the mass market under its proprietary brands ‘Daphne’ recently disclosed its fourth-quarter and annual performances in 2013, showing annual same-store sales of the core brand dropped 10.4% and net profits dropped significantly.
The number of stores dropped 50 in 2013, compared with an increase of 767 in 2012.
The number of sales points of the core brand dropped 50 in 2013, including an increase of direct-selling stores of 64 and a decrease of franchised stores of 114. By the end of 2013, the group has had 6,319 sales points of the core brand. In 2012, the number of Daphne stores grew 767.
Long-Term Outlook Good
Despite this, some industry experts are positive about Daphue’s long-term outlook, citing a recovering worldwide economy and the growing efficiency and acceptance of Chinese products.
Conversely, Daphne detractors believe the current downtick in Chinese production will snowball making the company a bad long-term investment.
Only time will tell.
On Apr. 16, DPNEF’s share price closed at 46 cents, up 6 cents from the previous day’s close of 40 cents a share.
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BOC Hong Kong (Holdings) Ltd. Stock Volume Surges
In other news, BOC Hong Kong (Holdings) Ltd. (OTCPINK: BNKHF) stock volume soared Apr. 16, with 601,491 changing hands, nearly six times its three-month average volume of 105,954 shares.
BOC Hong Kong Holdings is an investment holding company. Through its subsidiaries, it is engaged in the banking business, property holding and investment, provision of credit card, trustee and agency, travel, microfilm, financial, storage, and information services; development of software; club management; gold trading; and commodities brokerage. Co.'s business segments include commercial banking and treasury. It has more than 280 branches in Hong Kong and 14 branches in the People's Republic of China.
The company hasn’t been in the news lately, nor issued any recent press releases or financials. This seems to be the rule rather than the exception with many Hong Kong and Mainland Chinese companies.
On Apr. 16, BNKHF’s share price closed at $2.97, up 3 cents from the previous day’s close of $2.94 a share.
PT Astra International Stock Volume Soars
Meanwhile, PT Astra International (OTCPINK: PTAIF) share volume also skyrocketed Apr. 16, with 5,300,000 changing hands, more than five times its three-month average volume of 965,236 shares
The Indonesian-based business is an integrated automotive business. The company is engaged in Automotive, Financial Services, Heavy Equipment and Mining, Agribusiness, Infrastructure activities in Indonesia.
Because the company is not in the news, nor has it issued any press releases in the United States, it is anybody’s guess why its stock volume has exploded. The company has not released any recent financials.
On Apr. 16, PTAIF’s share price closed at 65 cents, down 3 cents from the previous day’s close of 69 cents a share.
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