01/03/2004
China investment specialist CYC Holdings is poised to float Sinovation, a Chinese company pioneering in the field of electronic data input, onto Ofex on March 17. Sinovation recently reversed into shell company SSH (formerly Projinet, the third company to obtain an Ofex quote in the mid 1990s), boasts technology devised by technical director Liu Zhonghua, which can record signatures without contact between pen and surface and securely enter data, including ideograms, onto computers. CYC, up 150 per cent to 2.35p since October, has several other Chinese groups lined up for London floats this year, including a packaging machinery maker and a company with a 'new generation' of oil refining catalysts and links with some of the oil majors. CYC, which cut its losses from £259,000 to £232,000 in the year to October, has at last broken back through the 2p at which it was floated - then as CyberChina - in 2000, having plunged to 0.16p at one point last year. Prospects look brighter now, though anyone showing big profits might prudently take some and stay in with the remainder for a punt on Chinese companies.
| Market cap: | £7.2m |
| Share price: | 2.35p |
| AIM | 0pm |
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| 01/02/2005 |
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