China Tracker - Details for Duoyuan Printing (DYNP)

 Duoyuan Printing
 Analyst Coverage
2011-04-05Piper JaffrayDowngradeSuspendedn/a
2011-03-22Roth CapitalDowngradeSuspendedn/a
2010-10-14Roth CapitalReiterationNeutral$3.00
 

On-time filing of SEC documents is a listing requirement for the NYSE. Failure to file timely reports is governed by Section 802.01E of the NYSE Listed Company Manual. Per the regulations, DYP's notification of delay initiates a six month period whereby the NYSE will closely monitor the situation until the required documents are filed. If filings are not completed prior to the end of the monitoring period, delisting or suspension proceedings will commence. This period may be extended an additional six months at the NYSE's discretion. Given these time horizon guidelines, we do not believe DYP is imminent danger of involuntary delisting or suspension in the near term. We maintain our NEUTRAL rating and $3.00 price target.

2010-09-24Roth CapitalUpgradeHold$3.00
 

Our channel checks have consistently revealed Duoyuan Printing is a known brand in the industry and its technology is competitive within the domestic Chinese market. Our $3.00 price target is based on the company's cash balance of $2.89 (as of 3Q10).

2010-09-13Piper JaffrayDowngradeUnderweight$3.00
2010-09-13Roth CapitalDowngradeSell$3.00
 

We are downgrading shares of DYP to SELL (from BUY) after the company announced the dismissal of its independent auditor and the resignation of management and directors. Given heightened investor caution in the US-listed China sector, we believe shares of DYP will trade near cash value until management and company credibility can be restored, which we view as a long-term process. We are lowering our price target to $3.00, reflecting the company's approximate cash balance ($2.89/share at 3Q10).

2010-07-14Roth CapitalReiterationBuy$12.00
 

We view DYP as the top value pick within our Global Energy & Industrials coverage sector, based on favorable macro/industry trends, key positive catalysts within the next six months (new product intro), a quality management infrastructure (Deloitte audit), strong balance sheet (~$2.40 net cash per share), and a compelling valuation (5.5x CY11 EPS). Download Full Report (PDF)

2009-12-16Roth CapitalInitiationBuyn/a
2009-12-16Piper JaffrayInitiationOverweight$12.00
DYNP
Printing & Packaging

COVERAGE SUSPENDED OR TERMINATED
 
READ: Score Cards Explained
SAFETY/RISK SCORE
EXTREME RISK
DETAILS: Safety/Risk Model for DYNP
Current Price:  $0.02
F10k Day (2009-11-06): -99.75%$7.77
2009 Close: -99.76%$8.05
2010 Close: -99.32%$2.93
2011 Close: -92.00%$0.25
High (2012-02-23): -93.11%$0.29
Low (2012-06-22): -84.62%$0.13
Exchange: OBB
Market Capitalization: 0.63 mill
Total Shares: 31.58 mill
Float: n/a
Avg Volume: n/a
Last Quarter: 2010-03-31
Revenue (MRQ): 23.40 mill
Net Income (MRQ): 3.56 mill
all financial data provided without warranty