Shiner Intl (BEST) research, news, and more from GeoInvesting

Company description

Tue, 29 Apr 2008 04:00:00 GMT

Shiner International is a U.S. corporation that has its primary operations in China. Headquartered in the city of Haikou - China's 'Hawaii''. Shiner's products include coated packaging film, shrink-wrap film, common packaging film, anti-counterfeit laser holographic film and color-printed packaging materials. Approximately 60% of Shiner's current customers are located in China, with the remainder spanning Southeast Asia, Europe, the Middle East and North America. Shiner holds 14 patents on products and production equipment, and has additional patent applications pending. The Company's coated films meet the approval of U.S. FDA requirements, as well as those required for food packaging sold in the EU. Shiner's product manufacturing process is certified under ISO 9001:2000.

Reverse Merger Filing

Comments & Business Outlook

Tue, 15 Nov 2011 05:00:00 GMT

Third Quarter 2011 Results

Total revenue for the third quarter of 2011 increased by 20.0% to $18.6 million, up from $15.5 million in the third quarter of 2010.
Gross profit and gross margin for the third quarter of 2011 were $2.1 million and 11.4%, respectively, compared to $3.4 million and 22.1%, respectively, in the same period last year.
Operating income and operating margin for the third quarter of 2011 were $0.3 million and 1.8%, respectively, compared to $1.6 million and 10.5%, respectively, in the third quarter of 2010.
Net income for the third quarter of 2011 decreased 70.7% to $0.4 million, compared to $1.3 million for the third quarter of 2010.
Earnings per diluted share were $0.01 for the third quarter of 2011, compared to earnings per diluted share of $0.05 in the same period a year ago.

Mr. Qingtao Xing, the CEO and President of Shiner stated, "We are pleased by the promising revenue growth in the third quarter of 2011, which we believe is primarily attributable to the diligence of our employees. At the beginning of 2011, the management developed a strategy to increase sales revenue, expand market share and improve our brand influence in order to perform in today's ever-changing market conditions. We believe that our sustained growth in revenue over the last two quarters is a result of this strategy. Although our gross margin and net income decreased in connection with larger price discounts, one of our strategies, the sales volume increased from our existing BOPP tobacco film customers as well as from newly attracted global customers in the coated film sector, including Marubeni Specialty Chemicals Inc. We expect that we will be able to adjust the sale price of our products as market conditions improve or as we gain additional market share."

Mr. Xing went on to say, "In addition, on October 29, 2011, we completed the installation of a new BOPP production line at our Hainan facility, which we expect to be operational in December 2011 after testing and adjustments. We believe that the completion of this new production line will significantly improve our ability to meet increasing demand from our customers and expand our market share."

Investor Alert

Mon, 12 Sep 2011 04:00:00 GMT

On September 1, 2011, Shiner International, Inc. (the "Company") received a letter from The Nasdaq Stock Market ("NASDAQ") notifying it of its failure to maintain a minimum closing bid price of $1.00 over the then preceding 30 consecutive trading days for its common stock as required by NASDAQ Listing Rule 5550(a)(2) (the "Bid Price Rule"). The letter stated that the Company has until February 28, 2012 to demonstrate compliance by maintaining a minimum closing bid price of at least $1.00 for a minimum of 10 consecutive trading days. The letter was issued in accordance with standard NASDAQ procedures. This notification has no immediate effect on the listing of the Company's common stock at this time. The Company intends to monitor the bid price of its common stock and consider available options if its common stock does not trade at a level likely to result in the Company regaining compliance with the Bid Price Rule by February 28, 2012.

Comments & Business Outlook

Fri, 12 Aug 2011 04:00:00 GMT

Second Quarter 2011 Financial Highlights

Total revenue for the second quarter of 2011 increased by 35.2% to $17.867 million, up from $13.214 million in the second quarter of 2010.
Gross profit and gross margin for the second quarter of 2011 were $2.519 million and 14.1%, respectively, compared to $2.242 million and 16.97%, respectively, in the same period last year.
Operating income and operating margin for the second quarter of 2011 were $1.304 million and 7.3%, respectively, compared to $0.992 million and 7.5%, respectively, in the second quarter of 2010.
Net income for the second quarter of 2011 decreased 20.5% to $0.799 million, compared to $0.939 million for the second quarter of 2010.
Earnings per diluted share were $0.03 for the second quarter of 2011, compared to earnings per diluted share of $0.04 in the same period a year ago.

Management Comments

Mr. Qingtao Xing, the CEO and President of Shiner stated, "We are pleased about our promising growth in the second quarter of 2011, which can be attributed to the hard work of our employees. The sustained growth in revenue resulted from the increased product sales volume, which is being driven by our continuous efforts to develop new customers and expand sales to existing customers based on product performance due to our rigorous quality control system and product monitoring system. From raw materials to product transport, we provided strict oversight step by step to enable good performance. In the second quarter we executed our development strategy to establish a global sales network and expand the reach of the brand to improve market share. Part of this strategy was a larger price discount rate, which is one of the reasons our operating margin decreased. However, we gained a number of global customers through this strategy (the number of customers increased by about 20%), including Ferrero Rocher in Italy, Nintendo in Japan, Saigon Tobacco Factory in Vietnam and Want Want Group in China. Based on our powerful technology, our R&D team and our packaging industry chain, we can provide customized packaging solutions for our customers to satisfy the demand for diverse packaging.

Comments & Business Outlook

Mon, 01 Aug 2011 04:00:00 GMT

HAIKOU, China, August 1, 2011 /PRNewswire-Asia/ -- Shiner International, Inc. (NASDAQ:BEST) ("Shiner" or the "Company"), an emerging global supplier of packaging solutions for food, tobacco, and consumer products, today announced that it has signed a sales order with Want Want China Holdings Limited (SEHK:151) for $2 million for color printing services. Want Want China Holdings Limited is a leading manufacturer and distributor of snack foods and beverages in China and has an extensive nationwide sales and distribution network throughout the PRC.

Qingtao Xing, the CEO of Shiner International commented: "Want Want Group is one of the leading manufacturers in the food industry, and we are delighted to have been selected to working with them. Shiner continues to make inroads into the growing food industry by providing value-added products and services and a one-stop-shop experience. I am pleased to receive this large sales order for color printing services. We value our relationship with Want Want China Holdings Limited and we look forward to expanding the relationship by continuing to provide functional packaging film with moisture and oxygen barrier properties that preserve flavor and aroma and have superior clarity and printability."

Comments & Business Outlook

Mon, 16 May 2011 04:00:00 GMT

First Quarter Results:

Shiner reports revenue of $15.9 million and an operating profit of $1,205,392 for the three months ended March 31, 2011, which is an increase of 37.3% in revenue, compared to $11.6 million for the same period in 2010
EPS of $0.04 v. $0.04 for the previous quarter.

Mr. Qingtao Xing, the CEO and President of Shiner stated, "We are excited about our promising growth in the first quarter of 2011. We believe this solid growth is the result of solid and healthy operations. We are also glad to report that the 2011 first quarter revenue from flexible packaging material has increased 53.8% compared to the first quarter of 2010."

Acquisitions

Mon, 02 May 2011 04:00:00 GMT

HAIKOU, China, May 2, 2011 /PRNewswire-Asia/ -- Shiner International, Inc. today announced that it has acquired 100% of the stock of Shimmer Sun Ltd. ("Shimmer") for $3.2 million in cash. The acquisition gives Shiner a 65% controlling interest in Shimmer's subsidiary company, Ningbo Neisuoer Latex Co., Ltd. ("Ningbo Neisuoer"). Ningbo Neisuoer is a recognized leader in the field of specialty water-based coatings, which are used to produce advanced coated films.

Based in Ningbo, the capital of Zhejiang Province, Ningbo Neisuoer was founded in 2007 and employs approximately 35 staff. Its R&D team was issued the only patent for polyvinylidene chloride, a coating polymer widely used in food packaging, in China. Ningbo Neisuoer expects 2011 sales to be approximately 35 million RMB ($5.3 million USD) with a 35% gross margin.

Water-based coatings are more environmentally friendly than oil-based coatings and offer superior moisture-barrier properties for packaging dry foods and other moisture-sensitive products without compromising the efficiency of the packaging production line.

"Ningbo Neisuoer has a solid reputation for producing advanced, high-quality coatings. The synergies between the Company and Ningbo Neisuoer will bring real benefits to our valued customers and demonstrate our continued commitment to technological excellence," stated Qingtao Xing, President and CEO of Shiner. "This acquisition will enable us to lower our raw material costs and further expand our production capacity. Shiner is seeking vertical integration opportunities that help us deliver new and innovative packaging products to better serve our customers worldwide. This acquisition is an important step in that regard."

Investor Presentations

Wed, 20 Apr 2011 04:00:00 GMT

On April 20th, 2011, the Company released this investor presentation.

Liquidity Requirements

Thu, 31 Mar 2011 04:00:00 GMT

We intend to meet our liquidity requirements, including capital expenditures related to the purchase of equipment, purchase of raw materials, and the expansion of our business, through cash flow provided by operations, the forgoing credit facility, and funds raised through private placement offerings of our securities.

We anticipate we will have adequate working capital to fund our operations and growth in the foreseeable future.

Comments & Business Outlook

Tue, 22 Mar 2011 04:00:00 GMT

Fourth Quarter Highlights:

Revenues for the fourth quarter of fiscal 2010 increased by 65.5% year-over-year to $17.8 million, up from $10.8 million in the fourth quarter of 2009.
Net income for the fourth quarter of 2010 increased 542.8% year-over-year to $1.0 million, compared to $153,720 for the 2009 period.
Gross profit for the 2010 fourth quarter was $2.2 million, up 48% from $1.5 million in the same period last year. Gross margin for the fourth quarter of 2010 was 12.6% compared to 14.1% in the 2009 period.
Operating income and margin for the fourth quarter of 2010 were $1.0 million and 5.4%, respectively, compared to $79,766 and 0.74%, respectively, for the comparable 2009 period.
Earnings per diluted share were $0.04 for the quarter, compared to earnings per diluted share of $0.01 in the same period a year ago.

Mr. Qingtao Xing, Shiner's President and CEO, stated: "We are very pleased with the strong top- and bottom-line growth we achieved in 2010. For the fiscal year, we exceeded our revenue guidance by approximately $5 million. Sales revenue for flexible packaging materials was $43.5 million, and sales revenue for advanced films totaled $14.2 million. We feel confident that in 2011 we will continue to increase our revenues and improve margins."

"We are also exploring potential acquisitions and joint ventures with the goal of enhancing our product portfolio and gaining access to new markets. The $3.13 million private placement we completed in December provides us with additional capital to fund potential acquisitions."

He continued, "By investing in the foundation of our business, we are positioning Shiner for sustained sales growth and profitability. Our ability to deliver customized, cost-efficient packaging solutions gives us a considerable market advantage both domestically and internationally. We are confident of our financial outlook for 2011."

Deal Flow

Wed, 23 Feb 2011 05:00:00 GMT

HAIKOU, China, Dec. 29, 2010 /PRNewswire-Asia/ -- Shiner International, Inc. today announced the completion of a $3.13 million private placement equity financing. Under the terms of the transaction, a total of 2,608,334 shares of common stock, as well as warrants priced 25% above the current market price. Further details of the financing will be available in a current report on Form 8-K that the Company expects to file with the SEC shortly.

The proceeds of the private placement are expected to be used to effectuate strategic acquisitions, as well as for general corporate and working capital purposes. Investment bank Roth Capital Partners LLC provided financial advisory services to Shiner in conjunction with the financing.

Qingtao Xing, the Chief Executive Officer of Shiner, commented: "We are pleased to receive this vote of confidence from new investors and current investors, many of whom have demonstrated strong support for our Company throughout the years. We believe that the improving financial results that we have delivered over the past few quarters are justification of their support and confirmation of the market's growing demand for our packaging solutions. The financing is intended to help us maintain a greater amount of working capital and allow us to further our strategic growth initiative of seeking out acquisitions that enhance Shiner's leadership position in the food safety packaging industry. We are looking for acquisition opportunities that give us the ability to use or own advanced technologies, to control key raw materials, or to access large customers."

Investor Presentations

Thu, 17 Feb 2011 05:00:00 GMT

On February 17, 2011, at 8:45 a.m., Eastern Time, Qingtao Xing, the Chief Executive Officer of Shiner International, Inc. ("Shiner") will hold a virtual conference presentation for investors. See Exhibit 99.1 for presentation.

Deal Flow

Wed, 29 Dec 2010 05:00:00 GMT

On December 28, 2010, Shiner International, Inc. entered into one or more Securities Purchase Agreements with a number of accredited investors in connection with a private placement transaction providing for, among other things, the issuance of up to 3,333,333 units with each Unit consisting of one share of the common stock and a warrant to purchase twenty percent (20%) of one (1) share of the Common Stock at an exercise price of $1.70 per share, at a purchase price of $1.20 per Unit for an aggregate offering of a minimum of $3,000,000 and up to a maximum of $4,000,000. At the closing of the Offering, the Company issued approximately 2.6 million Units and received gross proceeds in the amount of $3.13 million. As a result of the issuance of the Shares and, assuming exercise of the Warrants and issuance of the shares issuable upon such exercise, Investors shall receive or be entitled to receive an aggregate of 3,130,000 shares of Common Stock.

Comments & Business Outlook

Thu, 11 Nov 2010 05:00:00 GMT

Third Quarter Fiscal 2010 Financial Highlights

Revenues for the third quarter of fiscal year 2010 increased by 79.2% year-over-year to $15.5 million, up from $8.7 million in the third quarter of 2009.
Net income for the third quarter increased 338.7% year-over-year to $1.3 million, compared to $0.3 million for the third quarter of 2009.
Gross margin for the third quarter was 22.1% based on gross profit of $3.4 million, compared to a 17.3% margin in the same period last year.
Operating income and operating margin for the third quarter were $1.6 million and 10.5%, respectively, compared to $0.27 million and 3.1%, respectively, in the third quarter of 2009.
Earnings per diluted share were $0.05 for the quarter, compared to earnings per diluted share of $0.01 in the same period a year ago.
The Company continues to project revenues of $53 million and net income of $4 million, or $0.17 per diluted share, for 2010.

Operations Outlook

Mr. Qingtao Xing, Shiner's President and CEO, stated: "We are excited to announce such strong results for the third quarter as we build on our success in the first half of the year. Our top and bottom lines have continued to improve, including nearly 340% net income growth since the third quarter of last year. Sales of our three main product lines all showed significant improvement over the same period last year, with particularly robust growth in our coated film and anti-counterfeit film segments, which grew 155% and 104%, respectively, from the third quarter of 2009.

"As we look forward to the end of the year," Mr. Xing said, "We expect earnings to be in line with our previous forecasts and currently estimate fiscal 2010 revenue of $53 million and net income of $4 million. A key driver of our overall growth continues to be stronger demand for advanced packaging under new food safety regulation in China and also constant demand for cost efficient packaging solution internationally. We anticipate opening six sales offices in China and eight more overseas in 2011 to take advantage of emerging opportunities both in China and internationally. Overall, we are encouraged by our strong performance in a difficult macroeconomic environment. Longer-term, we will continue to drive aggressive, international expansion."

Investor Alert

Tue, 12 Oct 2010 04:00:00 GMT

Update:

On October 5, 2010, The Nasdaq Stock Market notified Shiner International, Inc. (“Shiner”) that it had regained compliance with Nasdaq Listing Rule 5550(a)(2) because the closing bid price for Shiner’s common stock reached $1.00 or more for 10 consecutive business days. Shiner regained compliance substantially before the March 7, 2011 expiration of the grace period it was given to regain compliance. Shiner previously disclosed its non-compliance with this Nasdaq Listing Rule on a Form 8-K Current Report filed on September 14, 2010.

Investor Alert

Thu, 16 Sep 2010 04:00:00 GMT

On September 8, 2010, Shiner International, Inc. received a letter from The Nasdaq Stock Market (“Nasdaq”) stating that Nasdaq's listing rules "require listed securities to maintain a minimum bid price of $1.00 per share. Based upon the closing bid price for the last 30 consecutive business days, the Company no longer meets this requirement. " The letter further stated that the listing rules "also provide the Company a grace period of 180 calendar days in which to regain compliance." The grace period extends through March 7, 2011. The letter stated that "[i]f at anytime during this grace period the bid price of the Company's security closes at $1.00 per share or more for a minimum of ten consecutive business days, [Nasdaq] will provide [the Company] written confirmation of compliance and this matter will be closed."

Comments & Business Outlook

Fri, 13 Aug 2010 04:00:00 GMT

Shiner's revenue for the three months ended June 30, 2010 increased 14% on a sequential basis from the quarter ended March 31, 2010, and increased 65% when compared to the same period in 2009. The year to year increase in revenue related directly to increases in sales across Shiner's main business lines, which included:
- 136% increase in coated film sales from $2.2 millionfor the second quarter of 2009 to $5.1 million for the second quarter of 2010.
- Anti-counterfeit film sales increased 63% to $3.0 million from $1.9 million for the comparable period in 2009.
- Revenue from BOPP tobacco film sales was $4.0 million for the quarter ended June 30, 2010, an increase of 25% from the same period in 2009.
- Revenue from color printing increased 39% to $1.0 million in the second quarter in 2010 from $0.8 million during the comparable period in 2009.
Net income of $0.9 million compared to a net loss of $0.3 million in the same period of the prior year. Earnings per share were $0.04 for the second quarter of fiscal 2010 compared to a net loss of $0.01 per share for the second quarter of fiscal 2009. The improvement reflects significantly higher sales volume, increased manufacturing capacity utilization, higher selling prices, and lower raw material costs. Shiner's productivity and cost-cutting actions are essentially tracking according to its business plan.

Operations Outlook

Mr. Xing stated: "We are glad to see the continued positive results throughout the first and second quarter. The strong growth in all business product lines validates our business progress and our effort to improve shareholder value. Our coated film sales increased 136% this quarter compared to the second quarter of 2009, along with a 63% increase in the anti counterfeit film, which contributed to the $1.22 million net income growth for the quarter.

"The primary industries we serve appear to be recovering, led by increased demand for consumer media products, tobacco and cigarettes, and food spending by consumers. We believe the growth for our core business will be driven by the growth in the standard of living and higher wages across Asia, the new food laws that have been passed in China, and the growing need for media companies to protect their products from counterfeiting in China and Southeast Asia.

While there is still uncertainty about the sustainability of the global economic recovery, given our current cost structure and the prospect of improvement in the markets we serve, we believe that we will be well positioned to continue to generate improved earnings performance as sales increase. "Looking ahead to the third quarter," Mr. Xing said. "We expect earnings to be in line with our previous forecasts and currently estimate our third quarter earnings at about $0.04 per share."

Comments & Business Outlook

Thu, 13 May 2010 04:00:00 GMT

Mr. Qingtao Xing, Shiner's C.E.O., commented, "We are encouraged by the continued positive trends in revenue in the first quarter; our gross profit was positively impacted by improved product mix toward our higher margin products, anti counterfeit and coated film. The improvement reflects significantly higher sales volume, increased manufacturing capacity utilization, higher realized sales prices, lower raw material costs, and partly offset by fixed cost increases for growth investments. The company's productivity and cost-cutting actions are essentially tracking according to plan. Since the implementation of the Food Safety Law (FSL) in June 2009, we are experiencing an increase of inquiries from food manufacturers. This interest affects our entire breadth of products and we are confident this will lead to an overall improvement in our business. Our Hainan manufacturing facility will be completed in June 2010 and is expected to be fully operational in October. We have purchased a new BOPP line at the cost of approximately $13,200,000. The equipment is expected to be delivered early in the first quarter of 2011, installed in the latter part of the first quarter of 2011 and operational in the second quarter of 2011. With the completion of this facility and the increase in our manufacturing capacity, Shiner will be well positioned to be the prime beneficiary of increased domestic consumption, a growing world economy, and increased market penetration through the recently enacted FSL. We believe that Shiner will continue to improve its revenue and net income and provide significant value to our shareholders."

GeoBargain Notes

Wed, 20 Aug 2008 04:00:00 GMT

According to analyst estimates, the EPS growth rate for 2008 will not meet the GeoTeam minimum 30% criteria. This is due to dilution issues. However, according to analyst estimates, BEST is expected to meet the EPS 30% Growth criteria for 2009. This situation may cause some short-term stagnation in the stock.

GeoSpecial Notes

Fri, 20 Jun 2008 04:00:00 GMT

BEST qualifies as a GeoBargain.