Yesterday I purchased a few more shares in Sinolink Holdings (HK:1168). The results were disappointing but the drop in profit was largely due to non-cash write downs of certain assets. The company is still sitting on cash equivalent to HK$1.10 per share as well as its other assets. Recurring cash flow should continue to improve as completed buildings move to full occupancy and the hotel opens.
I would like to see the company do two things (i) start paying dividends and (ii) after the Rockbund project is completed not do any more transactions with associated companies - at present too much of the company's balance sheet is locked in in the investment in/loan to the associated company. IMHO, these two steps should result in a material re-rating of the share price.
I paid HK$0.66 for the additional shares.