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yeah im not sure what thats all about. I had no warning of that.
Yahoo finance states symbol changed to CHWG ???
where is everyone? This stock is not dead yet.
The real CEEC Hompage here
http://www.gdxsg.com/en/
10 new BOT-Projects in 2006 / 2007!!!
hallo,
I am since today in CEEC in it.
The company has 10 new BOT projects and is financially healthy.
one must get used to the strong ones up and down.
Sewage{Effluent Wastewater} is a huge growth market in China.
I have a website of the enterprise which know everybody, till present:
http://www.china-eec.com/en/P/Home/InfoSort/InfoPage.asp?MenuID=002001
The turnover{sales} is produced about this unterstructure:
Guangdong Xinsheng Environment Protection investment Group
http://www.gdxsg.com/en/
This is the heart of CEEC and the most important part
Great Chance for 100 percent
China Evergreen Announces Record Revenues and Earnings for Third Quarter 2005
Tuesday November 22, 10:18 am ET
GUANGZHOU, China--(BUSINESS WIRE)--Nov. 22, 2005--China Evergreen Environmental Corporation (OTCBB:CEEC - News), a waste water engineering company in the People's Republic of China, announced its third quarter results on November 15, 2005. The Company reported total revenues of $1.46 million for the quarter ended September 30, 2005 as compared to $70,000 for the quarter ended September 30, 2004. For the nine month period ended September 30, 2005 revenues increased to $5.47 million from $0.26 million in the prior year period.
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Profit margins over these time frames also increased significantly, with gross profit as a percentage of revenue at 93.8% for the third quarter, up from 38.0% for the same quarter last year. The Company's net income for the quarter rose to $316,790 (21.6% net profit), from $1,893 (2.7% net profit), for the third quarter of 2004. For the nine months ended September 30, 2005, net income was $1.15 million, compared to a net loss of $5,395 in the prior year period. The company's 10Q filing is available at http://www.sec.gov.
In announcing the third quarter results, Mr. Pu Chongliang, Chairman of China Evergreen, commented, "The third quarter results were in line with our expectations, with revenues for the year diversified across our three business lines: turnkey engineering projects, build-operate-transfer (BOT) projects, and sales of GM Bio-carriers. We expect results to continue to improve in the fourth quarter as we recognize revenues from some of our turnkey engineering projects based on percentage of completion, and we anticipate increased sales of our GM Bio-carriers."
About China Evergreen Environmental Corporation
China Evergreen Environmental Corporation is a leading designer, engineer and developer of waste water treatment facilities in China. With its proprietary technology resources and project management experience, the Company provides both turnkey and BOT (build-operate-transfer) services to a range of industrial companies and municipalities throughout China. The Company also makes sales of its proprietary GM Bio-carriers, a natural, chemical-free process that improves the efficiency of the waste water treatment process.
The Private Securities Litigation Reform Act of 1995 provides a safe harbor for forward-looking statements made on behalf of the Company and its subsidiaries. All such forward-looking statements are, by necessity, only estimates of future results and actual results achieved by the Company may differ materially from these statements due to a number of factors. Any forward-looking statements speak only as of the date made. Statements made in this document that are not purely historical are forward-looking statements, including any statements as to the acquisition, beliefs, plans, expectations, or intentions regarding the future. Risk factors that may cause results to differ from projections include, without limitation, loss of suppliers, loss of customers, inadequate capital, competition, loss of key executives, declining prices and other economic factors. The company assumes no obligations to update these forward-looking statements to reflect actual results, changes in assumptions or changes in other factors affecting such statements. You should independently investigate and fully understand all risks before making investment decisions.
Contact:
Martin E. Janis & Company, Inc.
Beverly Jedynak, 312-943-1100 ext. 12
312-943-3583 (fax)
bjedynak@janispr.com
or
Financial Advisors to China Evergreen:
Westminster Securities Corp.
Matthew R. McGovern, +1-212-878-6513
+1-212-878-6545 (fax)
mmcgovern@westminstersecurities.com
or
China Evergreen Environmental Corp.
James Lim, +8620-3758-8824
+8620-3758-8564 (fax)
linbz@yahoo.com
--------------------------------------------------------------------------------
Source: China Evergreen Environmental Corporation
Nice News!!
I think this stock is now consolidat and than rock!!°
---NEWS---
Press Release Source: China Evergreen Environmental Corporation
China Evergreen Completes $4.8 Million Financing Through Westminster Securities Corporation
Thursday September 15, 8:38 am ET
Funds Enable Company to Pursue Aggressive Acquisition Opportunities in China for Waste Water Treatment Facilities
GUANGZHOU, China--(BUSINESS WIRE)--Sept. 15, 2005--China Evergreen Environmental Corporation (OTCBB:CEEC - News), a waste water engineering company in the People's Republic of China, today announced that it has completed a private placement for $4.8 million. The placement, which was oversubscribed, was underwritten by Westminster Securities Corporation of New York, and included 161 units, each unit consisting of 200,000 shares of the company's common stock priced at the rate of $0.15 per share and a five year warrant to purchase 200,000 shares of the company's common stock at an exercise price of $.20 per share.
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In announcing the offering, Mr. Pu Chong Liang, Chairman of China Evergreen, commented, "There is a tremendous need to clean up China's environment. Our central government has targeted a 90 percent daily wastewater treatment rate by 2030. Currently only approximately 40 percent of discharged water in China is being treated. Most of the new wastewater treatment projects for the municipalities will be under the build-operate-transfer (BOT) model, which is one that we have experience in operating. These funds enable us to pursue our acquisition strategy to continue our growth in the Chinese marketplace where the pressure on municipalities to accelerate the treatment of waste water reflects the enormous environmental needs that have been created as a result of our economic growth and the high levels of urbanization taking place."
About China Evergreen Environmental
China Evergreen Environmental Corp. was established in 1999 and focuses on developing innovative biochemical technology and processes for waste water treatment. The company has successfully developed its own proprietary biological treatment technology, applied to improve the efficiency and effectiveness of waste water treatment processes as well as to reduce the initial investment and ongoing operating cost of waste water treatment facilities.
Since 2000, the company, through its subsidiaries, has successfully completed the design and construction of 14 wastewater treatment facilities in China, with a total daily capacity of more than 120,000 tons. The company's customers include municipal governments, food processing and beverage companies, and industrial companies.
About Westminster Securities Corporation
Westminster Securities Corporation is a full service brokerage firm operating in five principal areas: Investment Banking, Research, Retail & Institutional Account Management, Execution Services, and Clearing & Operations. Founded in 1971, Westminster is a member of the New York Stock Exchange, National Association of Securities Dealers and the Securities Investor Protection Corporation. Westminster is headquartered at 100 Wall Street, New York, with branch offices in Atlanta, Cyprus, Miami, New York, Shanghai, St. Louis and Toronto.
The Private Securities Litigation Reform Act of 1995 provides a safe harbor for forward-looking statements made on behalf of the Company and its subsidiaries. All such forward-looking statements are, by necessity, only estimates of future results and actual results achieved by the Company may differ materially from these statements due to a number of factors. Any forward-looking statements speak only as of the date made. Statements made in this document that are not purely historical are forward-looking statements, including any statements as to the acquisition, beliefs, plans, expectations, or intentions regarding the future. Risk factors that may cause results to differ from projections include, without limitation, loss of suppliers, loss of customers, inadequate capital, competition, loss of key executives, declining prices and other economic factors. The company assumes no obligations to update these forward-looking statements to reflect actual results, changes in assumptions or changes in other factors affecting such statements. You should independently investigate and fully understand all risks before making investment decisions.
--------------------------------------------------------------------------------
Contact:
Martin E. Janis & Company, Inc.
Beverly Jedynak
312-943-1100 ext. 12 (telephone)
312-943-3583 (fax)
bjedynak@janispr.com (email)
or
Westminster Securities Corporation
Matthew R. McGovern, 212-878-6513
from the Homepage
Future plan
★ To continue to be devoted to the expansion of the BOT waste water treatment project, to develop the TOT waste water and water supply projects and the middle water reuse projects.
★ To make more investment in the scientific research and to ensure the constant leading position of the technology.
★ To produce and sell the environmental protection equipments, instruments and various environmental protection products.
★ To go abroad to undertake the general contract for the construction of the waste water treatment project and other projects.
Form 10QSB for CHINA EVERGREEN ENVIRONMENTAL CORP
15-Aug-2005
Quarterly Report
ITEM 2 MANAGEMENT'S DISCUSSION AND ANALYSIS OR PLAN OF OPERATIONS
FORWARD-LOOKING INFORMATION
Much of the discussion in this Item is "forward looking" as that term is used in
Section 27A of the Securities Act and Section 21E of the Securities Exchange Act of 1934. Actual operations and results may materially differ from present plans and projections due to changes in economic conditions, new business opportunities, changed business conditions, and other developments. Other factors that could cause results to differ materially are described in our filings with the Securities and Exchange Commission.
The following are factors that could cause actual results or events to differ materially from those anticipated, and include, but are not limited to general economic, financial and business conditions, changes in and compliance with governmental laws and regulations, including various state and federal environmental regulations, our ability to obtain additional financing from outside investors and/or bank and mezzanine lenders; and our ability to generate sufficient revenues to cover operating losses and position us to achieve positive cash flow.
Readers are cautioned not to place undue reliance on the forward-looking statements contained herein, which speak only as of the date hereof. We believe the information contained in this Form 10-QSB to be accurate as of the date hereof. Changes may occur after that date. We will not update that information except as required by law in the normal course of our public disclosure practices.
Additionally, the following discussion regarding our financial condition and results of operations should be read in conjunction with the financial statements and related notes contained in Item 1 of Part I of this Form 10-QSB.
RESULTS OF OPERATIONS
The following table sets forth the items in our consolidated statements of
operations for the periods indicated.
3
Three months ended Six months ended
June 30, June 30,
-------- --------
2005 2004 2005 2004
---- ---- ---- ----
Revenue ............................. $ 2,120,882 111,228 4,000,954 191,014
Cost of revenue ..................... (1,353,769) (24,728) (2,657,008) (58,978)
Gross profit ........................ 767,113 86,500 1,343,946 132,036
General and administrative expenses.. (359,147) (73,994) (444,493) (175,518)
Income / (loss) from operations ..... 407,966 12,506 899,453 (43,482)
Other income ........................ 137 23,879 2,861 35,094
Share of results in an associate .... 51,695 -- 87,483 --
Interest expense .................... (19,412) -- (23,827) (4,818)
Income / (loss) before income tax ... 440,386 36,385 965,970 (13,206)
Income tax (expense) / credit ....... (18,478) 1,917 (70,867) 8,416
Minority interests .................. (13,767) (7,323) (58,955) (2,498)
Net income / (loss) ................. 408,141 30,979 836,148 (7,288)
REVENUE. The Company reported total revenue of $2,120,882 for the three month period ended June 30, 2005 as compared to $111,228 for the three month period ended June 30, 2004. During the six month periods ended June 30, 2005 and 2004, the revenue increase to $4,000,954 from 191,014. This increase in the three and six month revenue are mainly due to the completion of one turnkey engineering waste water project in Le Chang City in the first quarter of 2005 and the completion of the remaining 15% construction of the waste water treatment plant of Xian Yang City and one turnkey engineering waste water project in Yong Ji Economic Development Zone coupled with the revenue from Tian Jin BOT waste water treatment plant.
COST OF REVENUE. Our total cost of revenue increased from $24,728 to $1,353,769 in the three month periods ended June 30, 2005 and 2004. During the six month periods ended June 30, 2005 and 2004, the cost of revenue increased to $2,657,008 from $58,978. The increase in cost of revenue for the three and six month periods ended June 30, 2005 is mainly due to the cost of revenue for the turnkey engineering waste water projects.
GROSS PROFIT. Gross profit as a percentage of revenue for the three month periods ended June 30, 2005 and 2004 were 36.2% or $767,113 and 77.7% or $86,500, respectively. During the six month periods ended June 30, 2005 and 2004, the gross profit increased to $1,343,946 from $132,036. The percentage of gross margin is higher in the three month period ended June 30, 2004 as compared to that in the three month period ended June 30, 2005 because the revenue for the three month period ended June 30, 2004 included revenue from technical transfer which has no cost of revenue.
GENERAL AND ADMINISTRATIVE EXPENSES. Our total general and administrative expenses for the three months ended June 30, 2005 and 2004 were $359,147 and $73,994 respectively. During the six month periods ended June 30, 2005 and 2004, the general and administrative expenses increased to $444,493 from $175,518. The principal components of general and administrative expenses are administrative salaries and benefits, depreciation, finance cost, traveling expenses, rental and other general administration costs.
NET INCOME / (LOSS). We had a net income, after income tax and minority interests, of $408,141 and $30,979 respectively for the three months ended June 30, 2005 and 2004. During the six month period ended June 30, 2005, net income, after income tax and minority interests, increased to $836,148 from a net loss of $7,288 for the six month period ended June 30, 2004.
LIQUIDITY AND CAPITAL RESOURCES
Our principal sources of liquidity are our cash and cash flow we generate from operations and financing activities. Net cash provided by operating activities during the six month period ended June 30, 2005 was $1,510,341 while net cash used in operating activities during the six month period ended June 30, 2004 was $356,075. Net cash provided by operating activities in the six month period ended June 30, 2005 consisted of net income of $836,148, adjustment for non-cash items of $106,269 and $567,924 provided by operating activities. Cash flow from operating activities consisted primarily of a decrease in accounts receivable of $6.7 million due to receipts from customers amounts fall due and decrease in accounts payable of $4.3 million due to payments made to our suppliers.
In April 2005, we conducted the private placement sale of 20 units, at $25,000 per unit, for the gross proceeds of $500,000. Each unit consisted of (a) one 12% convertible debenture in the original principal amount of $25,000, convertible into shares of our common stock at the rate of the lesser of (i) $0.20 per share or (ii) a 10% discount to the price per share of common stock (or conversion price per share of common stock) of the next private placement conducted by us prior to any conversion of the debenture, and (b) 125,000 detachable warrants to purchase one share each of our common stock at an exercise price of $0.20 per share, expiring ten years from their date of issuance. The debentures are due and payable August 1, 2005. The debenture holders have, however, extended the payment period to September 1, 2005.
Based on the Company's 2005 forecasted business plan, the Company will require to raise long-term capital to fund its BOT projects and proposed acquisition of a waster water facility and a potable water facility in Qiyuan, Henan.
We anticipate raising capital from outside investors coupled with bank or mezzanine lenders to fund the Company's expansion plan. As of the date of this report, we have not entered into any negotiations with any third parties to provide such capital. We anticipate that our current financing strategy of private debt and equity offerings will meet our anticipated objectives and business operations for the next 12 months. We continue to evaluate opportunities for corporate development. Subject to our ability to obtain adequate financing at the applicable time, we may enter into definitive agreements on one or more of those opportunities.
APPLICATION OF CRITICAL ACCOUNTING POLICIES
Our financial statements and accompanying notes are prepared in accordance with accounting principles generally accepted in the United States of America. Preparing financial statements requires management to make estimates and assumptions that affect the reported amounts of assets, liabilities, revenue, and expenses. These estimates and assumptions are affected by management's application of accounting policies. Critical accounting policies include revenue recognition, impairment of assets and accounting for allowance of accounts receivable.
REVENUE RECOGNITION. -- Revenue from fixed price long-term turnkey engineering contracts is recognized on the percentage of completion method for individual contracts. Revenues are recognized in the ratio that costs incurred bear to total estimated contract costs. The use of the percentage of completion method of revenue recognition requires estimates of percentage of project completion. Changes in job performance, estimated losses on uncompleted contracts are made in the period in which such losses are determinable. In instances when the work performed on fixed price turnkey engineering contracts is of relatively short duration, we use the completed contract method of accounting whereby revenue is recognized when the work is completed.
Revenue arising from waste water treatment is recognized based on waste water treated as recorded by meters read during the year.
IMPAIRMENT OF ASSETS. The Group's policy is to periodically review and evaluate whether there has been a permanent impairment in the value of long-lived assets. Factors considered in the evaluation include current operating results, trends and anticipated undiscounted estimated future cash flows that is expected to result from the use of the asset, or other measure of fair value, is less than the carrying value.
ALLOWANCES FOR ACCOUNTS RECEIVABLE. The Group's provisioning policy for bad and doubtful debt is based on the evaluation of collectability and aging analysis of accounts receivable and on management's judgment. The Group does no require collateral or other security to support client's receivables. The Group conducts periodic review of its clients' financial condition and customer payment practice to minimize collection risk on accounts receivable. This review is based on a considerable amount of judgment which is required in assessing the ultimate realization of these receivables, including the current creditworthiness and the past collection history of each customer. During the second quarter of 2005 financial period, the Group had not made any allowance for doubtful debts.
OFF-BALANCE SHEET ARRANGEMENTS
We do not have any off-balance sheet arrangements.
LOOK at the chart a china envirment Stock rocks!!
only 15 mill stocks in free fload!
http://ichart.finance.yahoo.com/b?s=CEEC.OB
WOW today it rocks!!
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