China Information Technology Inc fka CNIT

[Californicator]

where you think this one can go?

[Kurupt]

My Man, Cali! Its trying. Iam trying to buy the dips as best as i can for the ride up.

[Californicator]

Looking like CNIT could be breaking that 1$ very soon.

[Californicator]

Yous puts mys marks backs yets????....hehehe. I noticed you are 1+ yesterday from 95 to 94 then to 96....lol

[Kurupt]

Way up those thighs Dowwwg!

[Californicator]

Where yous thinks this un can runs to home boyee?

[beach_trades]

95 for you Kurupt! Nice convo and glad we can chat like that :)

refreshing

[Kurupt]

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[Kurupt]

Looking great today!!! A lot more to come!

[hmmauto]

ditto...good luck, michael

[rayank]

Just got in at .72

[Siforus]

China Information Technology Receives NASDAQ Noncompliance Notice

http://www.chinacnit.com/en/detail.php?article_id=2994

[Kurupt]

Remember we have a lot of the mainstream RESEARCH REPORTS valuing the company way above even $5.00 !!!


Why would they put their line the line for such an outrageous figure????

[Kurupt]

"Company issued a total of 1,851,852 shares of the Company’s common stock at a conversion price of $2.70 per share as full repayment of shareholder’s loan of $5 million."

I know in this market fundamentals dont always mesh exactly right with the PP$ but in this CASE we are way OFF. Even $1.75 would seem very conservative.

[mquattrini]

You can't listen to anybody in this economy era! All upside down and unpredictable.

[YSUJosh]

Never listen to an accountant on trading advice and all be ready to lose all of your money in a Chinese stock - not that i have any opinion of CNIT yet...

[mustangpower]

What is this as far as the bottom line for CNIT??

"We generate revenues through the sale of our software and hardware products, through our fully integrated total solutions, and through the provision of related support services. A significant portion of our operations are conducted through iASPEC, our variable interest entity. iASPEC is a PRC domestic company owned by Jiang Huai Lin, our Chairman and Chief Executive Officer, who is a PRC citizen and resident. iASPEC is able to obtain governmental licenses that are restricted to PRC entities that have no foreign ownership. These licenses allow iASPEC to perform Police-use Geographic Information Systems, or PGIS, services for PRC governmental customers. Under our Amended and Restated Management Services Agreement among our subsidiary, IST, iASPEC and Mr. Lin, or the MSA, IST is entitled to receive 95% of the net received profit of iASPEC during the term of the Agreement, less costs and expenses related to sales and operations, and accrued but uncollected accounts receivable. During the six months ended June 30, 2011, $25.6 million, or 46.68% of our revenue, was generated under this exclusive commercial arrangement with iASPEC."

[mustangpower]

Can anyone smarter than me tell me how they read the latest results? Will the transition to DT improve FUTURE margains? They still have this MAGIC energy grid program on the IT side, it just seems to volatile with relying on the chinese government for contracts.

[struftepete1]

Framework agreement with Chonqing Institute of Surveying and Mapping
http://www.geostar.com.cn/html/2011/0712/1990.shtml
Anybody noticed?

This is rather important news for Geostar and ZTT because
http://www.sbsm.gov.cn/article/chkjn/kjgl/201107/20110700086089.shtml
In February, the State Bureau of Surveying and Mapping Geographic Information for the institutions of Chongqing Institute of Surveying and Mapping specification adjustments identified as "State Bureau of Surveying and Mapping Bureau is directly under the business unit level." Chongqing Institute of Surveying and Mapping restructuring will seize this opportunity to give full play to their advantages, and actively introduce advanced talents, efforts to enhance their professional capabilities, the strengthening of key exchanges and cooperation, and strive to usher in the technological development of another climax. With Wuhan University of Surveying and Mapping State Key Laboratory of Remote Sensing Information Engineering, Wu Taiji Austrian Information Technology Co., Ltd., institutions, institutional cooperation project will enhance the hospital faster technological development of innovative ideas, better ability to exercise the practice of science and technology personnel more access to cutting-edge technology, cutting-edge information more widely to all areas of GIS mapping applications, achieve mutual benefit and win-win cooperation goals. Under the partnership framework agreement, the parties will each play in mapping geographic information industry chain in basic research, the results of conversion and product applications, advantages, and actively promote technological innovation and application, joint training of high-level personnel, and gradually form an effective cooperation mechanism and mode of to achieve common development. (Yuan Yang 2011.7.11)

Further info:
http://www.cqism.com/showNews_715.html
http://www.cqism.com/index.aspx

[mquattrini]

man, IE10 is already out? I thought it was IE9 the latest one (which actually sucks!)...

[mustangpower]

From the Shenzhen Zhongtian Technology Development Co. website, (CNIT's medical software division). With the corporate philosophy of "Building a modern and digitalized hospital system", the Company aims to be the largest digital hospital information systems provider in China.

What would be a US equivalent, Oracle?

I'll say it again, once they get established in all facets of their business, CNIT will be integrated into all aspects of China's economy (medical, transportation, security). I wish I could get a handle on how much money these divisions could make. Then I could justify my own risk/reward to invest.

[mustangpower]

Google Chrome translates all foreign languages, with IE10 right click and look for translate with bing.

[mquattrini]

Sorry I can't read Chinese. Maybe you can. why don't you provide a translation of the link you have provided?

[struftepete1]

And why would ZTT have started employment to establish its local team in Changsha, Hunan Province?
http://www.hnrcsc.com/webjob/engage.asp?autoid=11628

[buddhabelly2]

The Thomson Reuters report has 1 analyst 12 mo target $9.00.

[struftepete1]

Who says it's not possible to verify the information provided in the PR? Follow this website: http://new.21hospital.com/SoftTest/

[mustangpower]

I wish we had an analyst covering this stock. Someone who could break down the different divisions of CNIT. Someone who could tell us how the addition of this province breaks down into upfront and then residual fees based on continued operation. If this is not an RTO scam, this stock could be $20.00 in five years after it recovers from the hedge funds.

[buddhabelly2]

Its about time a china stock made me some goood money.:)

[mquattrini]

It seems to be coming back!

Nice PR out showing things are happening.

I agree it is not possible to verify all information provided on PRs and it is always a gamble.

[buddhabelly2]

7-6-11 Nice 13% increase

[ragmuff]

UP 2,149,800.00% ???
Showing .0001 on the 4th must be a mistake.

[buddhabelly2]

Have a great 4th.

[buddhabelly2]

Hopefully, we can end the week on a high note.

[buddhabelly2]

Sorry, I use the Nasdaq site. Must have used wrong notes. My mistake.

[struftepete1]

Short interest dropped considerably during the first half of June and I wouldn't be astonished that it dropped further during the last 2 weeks.
http://www.nasdaq.com/aspxcontent/shortinterests.aspx?symbol=CNIT&selected=CNIT

[buddhabelly2]

Slowly working its way back up. Still lots of short interest though. Wouldnt be suprised,another short attack in the works.Only my opinion.

[mustangpower]

Since the price has settled down, I'd like to buy more. I wish the company was more vocal in their support. Things can be said within SEC guidelines to justify future growth. However, that being said ABAT has published positive PR's and the price has dropped another 40% since I started watching it.

[Achillez]

Everyone is afraid. No one wants to buy a stock only to have the SEC step in... Until the fear of chinese R/M passes, these stocks will get hammered. When that sentiment does change, however(for the ones that are left), these stocks will have serious runs.

[$to©k_Pi©ker™]

That is not what i stated at all. Selective reading?

FWIW, my largest holding IS a chinese stock, although on the NYSE.

Bye!

[buddhabelly2]

While I am sorry, you lost money on CXTI, Im not sure how a stock on the OTC is compared to CNIT. The OTC is the wild wild west, big gains, big losses.(Yes, I have one investment on the OTC) I am also wondering about your PR statement, the resignation of Ms. Kazmerzak, was a terrible PR, at a terrible time for holders. It threw a bad light on the co. when it was already being attacked. There were questions about cooked books, and how she was getting out, before the %$#% hit the fan. Now she is in the same position in another China stock. In my opinion if the other company put her in the same postion, why would they take a chance on someone who couldnt do there job. It will only hurt them down the road(trust issue), to have her services. Good luck to you, on other investments, but I think CNIT has a good future. Only my opinion, and you're welcome to your own.

[struftepete1]

So, what's your message here? Just trying to convince people not to invest in CNIT or any other Chinese company?
I've done my own DD my business partner visited the company and I'am confident about my investment.
Why don't you go to the China Growth Stock message board here on iHub and tell all readers that all Chinese companies are scams?

Bye

[$to©k_Pi©ker™]

I used to be invested in this a while ago. I no longer am. I am now very skeptical in regards to their businesses, and their press releases. I personally do not believe the company any longer.

The chinese companies are under attack for a good reason, and they should be. There should be some form of protection for investors from Chinese companies backed by either the trading forum they trade on (NYSE, AMEX, NASDAQ), or the SEC, or they should be required to have an audit done by auditors that can INSURE that the numbers are 100% backed and guaranteed, or you can go after the auditors.

I myself lost a few thousand dollars on a chinese company called CXTI (China Expert Technology). They released press release after press release of all this great, different business. They showed growing quarterly revenue and income. It was great, a no brainer investment. All the sudden, NOTHING. It was a scam. It traded on OTC BB. I would NEVER touch any chinese stock on OTC BB or Pink again for the rest of my life and you can take that to the bank!

Again, i am NOT saying this company is 100% a scam. But i surely do feel it is one now. Also, CHNG is another i used to be invested in, and i think of that similarly.

Good luck to all. The goal is to make money, and i love seeing retailers make it, and not brokerages/scammers.

[buddhabelly2]

I agree, about only playing with money you can afford. But, this company was doing very well, on low volume,for a while. The attacks on China companies was non stop, high volume began around the same time on many China stocks. Most were short attacks, aided by seekin alpo posts. What exactly, are you seeing about this company, that is reason for post? Thank You, for any reply.

[mquattrini]

could you elaborate a bit? What is not looking good, why? thx.

[$to©k_Pi©ker™]

Just be VERY careful here folks. This is not looking good. Please play with money you can afford here.

[mustangpower]

Why hasn't the company put out a PR saying something like" No basis for decline--sorry the CFO resinging affected the shareprice--we feel that CNIT is being caught up in the hedge short attacks--etc.". I'd like to see some confidence from management before adding more at these levels.

[BreakoutSTK]

Very nice two days of consolidations, making higher lows. Seem like it could run back to 2.48 on Monday or Tuesday.

[mquattrini]

I am with Zecco and was told that there is never any margin option for any shares with pps < $3.00. So I must wait it reached at least $3.00, sell what I have and then buy again on margin to have more shares!... if this one is marginable, which isn't certain yet.

[$to©k_Pi©ker™]

Was this company on the 'potential chinese scam list' that was produced by ameritrade/interactive brokers and a few others to protect investors from overseas scams by not allowing margin?

[struftepete1]

The previous 2 days were just an effort to extend a manipulated death spiral of this stock and a good moment to load up or average down. Scary though!
During such times you have to remind yourself that the fundamentals of the company are there and will prevail.