Shah Capital Management amended its stake in Qiao Xing Mobile Communication Co., Ltd. (QXM) today. According to a SEC filing, Shah Capital Management reveals a 10.31% or 5.83 million shares activist stake in the company. The firm was engaged with the issuer regarding certain actions that can add shareholders’ value, including addressing the Net Cash Value issue of the Issuer, taking standards and common measures to enhance the worth of the undervalued asset, and increasing the manpower for facilitating timely informational filings as well as staying in touch with the investment community on a regular basis to inform them with the latest corporate information. Shah Capital Management also disclosed its recent letter to the board of Qiao Xing Mobile Communication. See here.
Shah Capital Management reported about 5.7 million shares in OXM last quarter. Besides, Francis Chou and Jim Simons also had small position in the stock. They respectively had 732 thousand shares and 251 thousand shares at the end of September.
Shah Capital Management is located in Raleigh, NC. The firm is a private investment securities company which offers portfolio management services to high net-worth individuals and institutional investors.
According to Google Finance, Qiao Xing Mobile Communication Co. “is a domestic manufacturer of mobile handsets in People’s Republic of China (China). The company manufactures and sells mobile handsets primarily based on the global system for mobile communications (GSM) global cellular technologies.”