GREY:MIGGF - Post by User
Comment by
SurfForWealthon Jun 17, 2008 5:37am
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Post# 15191961
RE: Price controls
RE: Price controlsThis was from the Jennings Capital report of April 28 2008 on Chinese price controls;
MIGAO ANNOUNCES IT HAS DOUBLED SELLING PRICES
?? Summary – In response to rising raw material prices, Migao has negotiated selling price increases with its customers that amount to an approximate 100% y-y increase, with additional price increases possible over the next several months. Management has also guided to a gross margin range between 22-24%. Despite a number of price control measures implemented by the Chinese government in recent months, MGO Management stated that none of them restricts MGO’s selling prices.