Summary of Wonhe by Beer & Co attached. Conclusion of the...

Summary of Wonhe by Beer & Co attached.  Conclusion of the summary is below.
What is not mentioned is that Wonhe's current performance is only from 1 of 30 provinces in China.
This ASX listing will allow the company to bid for contracts in other provinces.
The company is going to target other east coast provinces first.
The market cap at IPO is only 68% of net assets!
Going to be a fund ride...

DYOR

Conclusions
WMC is seeking to list on the ASX to, among other reasons, qualify itself to bid for major contracts in China as a main board listed company. WMC was founded in 2010 and began its first sales in May 2011. At the end of 2013, it ceased sales and focused on developing new products. If began selling its first new product in October 2014, with subsequent products in March 2015 and June 2015. WMC is currently profitable. Its Nasdaq filed accounts, translated into AUD by the investigating accountant, show that it had NPAT of A6.3m for the half year to June 2015.

If fully subscribed, at 20c/share, WMC will have 155m shares on issue for a market cap of $31m, compared
with net assets on its balance sheet, as at 30 June 2015, of $45.9m and cash of $53.1m.