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New Chinese add SOKF 3.85 +.10 just beginning to get noticed and earned .17 vs .10 on more shares OS per last Q report in Jan:
SOKO Fitness Reports Second Quarter Fiscal 2010 Results
Net Income Improves by 89% on 61% Revenue Growth Year-over-year; Company to Host Conference Call on Tuesday, January 19 at 8:30 AM Eastern Time
Press Release Source: SOKO Fitness & Spa Group, Inc. On Thursday January 14, 2010, 6:15 pm EST
HARBIN, China, Jan. 14 /PRNewswire-Asia-FirstCall/ -- SOKO Fitness & Spa Group, Inc. (OTC Bulletin Board: SOKF) ("SOKO"), an operator of fitness centers and beauty salons and spas in China, today reported financial results for the second quarter and first six months of fiscal 2010, ended November 30, 2009.
Second Quarter and Recent Financial and Business Highlights -- Revenue increased 61% to $7.4 million, compared with revenue of $4.6 million in the second quarter of fiscal 2009. -- Revenue increased across each of the company's business segments, with spa and beauty services and products accounting for 80% of revenue, fitness centers accounting for 15% of revenue and the beauty school accounting for 5% of revenue. -- Total professional services were $5.3 million, up 73% year-over- year; -- Total product sales were $598,000, up 102% year-over-year; -- Membership fees were $1.1 million, up 19% year-over-year; and, -- Revenue from beauty school tuition was $392,000, compared with $314,000 in the second quarter of fiscal 2009. -- Gross profit was $5.2 million, or 70% of revenue, compared with $3.0 million, or 65% of revenue in the second quarter of fiscal 2009. -- Operating income improved by 76% to $3.2 million, compared with $1.8 million in the second quarter of fiscal 2009. -- Net income improved by 89% to $3.2 million, or $0.17 per share (diluted), compared with net income of $1.7 million, or $0.10 per share (diluted) in the second quarter of fiscal 2009. -- As of November 30, 2009, cash and cash equivalents were $3.64 million, an increase of 91% over $1.91 million as of May 31, 2009. -- Opened its first "non-surgical medical beauty spa" in Harbin, China in an effort to expand SOKO's range of services and capture potential new revenue streams. -- Expanded geographic reach by securing 51% interest in two fitness centers in suburban Beijing, marking the company's initial entry into the Beijing market.
"Our quarterly results reflect the strength of our cross-selling business model and continued execution of our business strategy," said Tong Liu, Chief Executive Officer of SOKO. "During the first half of fiscal 2010, we continued to expand our brand by opening new facilities, including Yoga Wave II and the Harbin Queen Medical Beauty Spa, which is our first facility licensed to perform non-surgical medical aesthetic procedures. We believe that the medical beauty segment is a potentially high-growth market where there are significant barriers to entry due to licensing requirements. As such, we believe we are well positioned to secure additional revenue from our existing customer base with these medical beauty services, as well leverage this offering to attract new customers who should be candidates for our full range of fitness, spa and beauty services. In line with our strategy, we will continue to focus on promoting our higher margin business segments such as our yoga centers and spa and beauty service offerings. Importantly, while we continue to open new centers, our operating costs remain in-line with our revenue. With a 62% increase in SG&A expenses in the second quarter, we achieved a 77% year-over-year increase in operating income.
"Following the close of the second quarter, we also acquired a majority interest position in two fitness centers in Beijing. This marks our initial entry into this important region and serves our objective of geographic expansion through strategic acquisitions. These centers are located in a suburban area of Beijing and, as such, we believe they face less competition from peers that are operated in the central Bejing area and are thus consistent with our acquisition strategy. We expect to continue to execute on our growth strategy based in opening centers in second tier cities such as Harbin where we believe we can achieve the swiftest impact. In addition, we will also strategically evaluate opportunities to open centers in or around first tier cities, such as Beijing, so long as they fit in with our core strategy of opening facilities where we believe there is low penetration from peers and we can adequately compete.
"With the expanding breadth of our service offerings and a growing client base, we believe we are well positioned to grow our business, with our existing members and clients representing the ideal target customers for the full breadth of our products and services," Mr. Liu concluded.
SOKO currently operates 15 facilities in key cities in Northeastern China including nine beauty salons and spas, five fitness centers and yoga studios and one beauty school, as well as two fitness centers in suburban Beijing. At the end of the second quarter of fiscal 2010, SOKO had 14,909 fitness club members, and 19,893 beauty salon and spa clients. In addition, SOKO has four facilities under construction: The Da Qing beauty salon and spa, one beauty salon in the Long Dian building in Harbin, as well as one fitness center and one yoga center.
Second Quarter Financial Summary:
Total Revenue for the second quarter of fiscal 2010, ended November 30, 2009, was $7.4 million, an increase of 61%, over revenue of $4.6 million in the second quarter of fiscal 2009. The increase in revenue was largely attributed expansion of our facilities and services including increased sales from existing members and clients, sales of add-on services to members and clients and continued efforts to add new members and clients in new and existing facilities.
Gross profit for the quarter was $5.2 million, or 69.5% of revenue, compared with $3.0 million, or 65.5% of revenue for the comparable quarter in fiscal 2009. The increase in margins for the period was [primarily the result of the addition of the non-medical beauty service offering].
Selling, general and administrative expenses were $2.0 million, an increase of approximately 62% over $1.2 million in the second quarter of fiscal 2009.
Net Income increased 89% to $3.2 million, or $0.17 per share, based on 18.2 million weighted average shares outstanding, compared with $1.7 million, or $0.10 per share, based on 17.0 million weighted average shares outstanding, for the year-ago period. The increase in net income was related to the increase in revenue, as well as a reduction in interest and other expenses.
As of November 30, 2009, SOKO had cash and cash equivalents of $3.6 million, an increase of 2% compared with $3.6 million in the prior quarter, and a 91% increase over $1.9 million reported on May 31, 2009.
Company and Market Outlook
"As we move into the second half of our 2010 fiscal year, we believe SOKO is positioned to continue its growth," said Mr. Liu. "Our strong member retention rate of approximately 81% remains above the industry average and provides a potential base of recurring and predictable revenue while we execute on our growth initiatives. We continue to expand our product and service offerings with an emphasis on growing our client and membership bases to drive our existing facilities into maturity, a cycle we typically achieve within two to three years following each center's opening. With new SOKO- operated facilities opened earlier this year and four new facilities currently under construction, we believe we are well on our way toward reaching our goal of adding 7-9 new centers to our portfolio in calendar 2010.
"We further believe that the number of potential customers for SOKO's fitness and aesthetic offerings are expanding as the upper and middle classes in the cities in which we operate are becoming increasingly affluent. With an established, well-respected brand and a loyal existing customer base, we are confident that we can capitalize on these favorable market trends in order to continue growing our business," Mr. Liu concluded.
Conference Call
SOKO will host a conference call for interested investors and analysts on Tuesday, January 19, 2010, at 8:30 a.m. Eastern time. To participate in the conference call, please dial 877-941-8416 toll free from the U.S, or 1-480- 629-9808 for international callers.
An audio replay will be available approximately one hour after the conclusion of the call and will be made available through Tuesday, February 2, 2010. The audio replay can be accessed by dialing 1-800-406-7325 toll free from the U.S., or 1-303-590-3030 for international callers, and entering access ID number 4201679.
About SOKO Fitness & Spa Group, Inc.
SOKO Fitness & Spa Group, Inc., an OTCBB listed company (SOKF.OB), is an operator of fitness centers and beauty salons and spas key cities in Northeastern China as well as in suburban Beijing. SOKO provides programs, services, and products combined with exercise, education, and nutrition to help their members lead a healthy life and achieve their fitness goals. For further information, please go to http://www.sokofitness.com .
To be added to SOKO's email distribution for future news releases, please send your request to soko@tpg-ir.com.
Cautionary Note Regarding Forward Looking Statements
This press release and the statements of representatives of SOKO Fitness & Spa Group, Inc. (the "Company") related thereto contain, or may contain, statements that are not historical facts and are therefore "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. Such forward-looking statements involve significant risks and uncertainties. Such statements may include, without limitation, statements with respect to the Company's plans, objectives, projections, beliefs, expectations and intentions and other statements identified by words such as "projects," "may," "could," "would," "should," "believe," "expect," "anticipate," "estimate," "intend," "plan," or similar expressions. These statements are based upon the current beliefs and expectations of the Company's management and are subject to significant risks and uncertainties, including those detailed in the Company's filings with the Securities and Exchange Commission. Actual results, including, without limitation, results regarding the Company's service offerings, client and customer base, proposed new center openings and prospects and strategies for growth, may differ significantly from those set forth in the forward-looking statements. These forward-looking statements involve certain risks and uncertainties that are subject to change based on various factors (many of which are beyond the Company's control). The Company does not undertake any obligation to update any forward-looking statement, except as required under applicable law.
For more information, please contact: The Piacente Group, Inc. Investor Relations Brandi Floberg Tel: +1-212-481-2050 Email: soko@tpg-ir.com SOKO Fitness & Spa Group, Inc. Shawn Qu Tel: +1-908-208-8681 Email: shawnqu@sokofitness.com SOKO Fitness & Spa Group, Inc. Judy Jiang Tel: +86-451-8770-2280 Email: judyjiang@sokofitness.com SOKO FITNESS & SPA GROUP, INC. CONDENSED CONSOLIDATED STATEMENTS OF INCOME (IN US DOLLARS) (UNAUDITED) FOR THE SIX MONTHS FOR THE THREE MONTHS ENDED ENDED NOVEMBER 30, NOVEMBER 30, 2009 2008 2009 2008 (RESTATED) (RESTATED) Net Sales $13,843,683 $8,885,158 $7,413,179 $4,608,291 Cost of Sales (4,451,744) (3,015,436)(2,262,805) (1,590,281) Gross Profit 9,391,939 5,869,722 5,150,374 3,018,010 Selling, General and Administrative Expenses: 3,899,759 2,576,336 2,001,385 1,234,151 Operating Income 5,492,180 3,293,386 3,148,989 1,783,859 Other Income and Expenses Interest expenses (31,564) (106,632) 961 (56,624) Other income 33,298 2,606 17,776 191 Other expenses (3,934) (165,721) (3,463) (96,380) Total Other Income and (Expense) (2,200) (269,747) 15,274 (152,813) Income Before Income Taxes 5,489,980 3,023,639 3,164,265 1,631,046 Provision for Income Taxes 47,904 51,437 24,024 26,305 Net Income 5,442,076 2,972,202 3,140,240 1,604,741 Less: net (loss) attributable to the noncontrolling interest (162,151) (147,544) (36,384) (71,664) Net Income Attributable to SOKO Fitness & Spa Group, Inc. $5,604,227 $3,119,746 $3,176,623 $1,676,405 Other Comprehensive Income Foreign currency translation adjustment 4,695 260,748 25,977 17,788 Comprehensive Income $5,608,922 $3,380,494 $3,202,600 $1,694,193 Basic and Diluted Income per common share Basic $0.33 $0.18 $0.19 $0.10 Diluted $0.31 $0.18 $0.17 $0.10 Weighted average common share outstanding Basic 17,000,000 17,000,000 17,000,000 17,000,000 Diluted 18,168,443 17,000,000 18,168,443 17,000,000 SOKO FITNESS & SPA GROUP, INC. CONDENSED CONSOLIDATED BALANCE SHEETS (IN US DOLLARS) NOVEMBER 30, 2009 MAY 31, 2009 (UNAUDITED) ASSETS Current Assets: Cash & cash equivalents $3,638,308 $1,907,640 Restricted cash -- 7,233 Accounts receivable, net 411,431 110,541 Inventories 1,430,666 1,391,302 Advances to suppliers 2,861,514 993,084 Employee advance 87,531 54,783 Prepaid expense 192,019 146,959 Total Current Assets 8,621,469 4,611,542 Property, plant and equipment, net of accumulated depreciation 24,637,890 19,674,394 Other Assets Security deposit 109,711 47,853 Deferred rent 719,338 589,188 Deposit to suppliers 1,464,847 1,464,530 Investment advance 1,171,795 399,750 Goodwill 2,793,607 2,525,778 Total Other Assets 6,259,298 5,027,099 Total Assets 39,518,657 29,313,035 LIABILITIES AND STOCKHOLDERS' EQUITY Current Liabilities: Short-term loans 3,310,322 2,196,795 Accounts payable, accrued expenses and other payable 833,606 471,457 Unearned revenue 5,084,363 1,909,755 Taxes payable 423,134 360,229 Contingent liability 200,000 200,000 Total Current Liabilities 9,851,425 5,138,236 Stockholders' Equity Preferred Stock, $.001 par value; 10,000,000 shares authorized; - 0 - shares issued and outstanding at November 30, 2009 and May 31,2009 -- -- Common stock, $0.001 Par value; 500,000,000 shares authorized; 17,000,000 shares issued and outstanding at November 30 and May 31, 2009 17,000 17,000 Additional paid-in-capital 2,361,716 2,346,397 Additional paid-in-capital - Warrants 639,253 639,253 Accumulated other comprehensive income 1,915,447 1,910,752 Retained earnings 24,819,341 19,215,114 Total Stockholders' Equity 29,752,757 24,128,516 Noncontrolling interest (85,525) 46,283 Total Equity 29,667,232 24,174,799 Total Liabilities and Stockholders' Equity $39,518,657 $29,313,035
In at 3.85 here...tuna
Yes...thanks wick...LLEN has been very good to me!! tuna
AMCF 8.17 +.27 presenting tomorrow:
Andatee China Marine Fuel Services to Present at the Rodman & Renshaw Annual China Investment Conference
Press Release Source: Andatee China Marine Fuel Services Corporation On Wednesday March 3, 2010, 8:00 am EST
DALIAN, China, March 3 /PRNewswire-Asia/ -- Andatee China Marine Fuel Services Corporation (Nasdaq:AMCF - News), the leading independent operator engaged in the production, storage, distribution, wholesale purchase and sale of blended marine fuel oil for cargo and fishing vessels in Northern China, today announced the Company's management team will present at the upcoming Rodman & Renshaw Annual China Investment Conference in Beijing, China.
The date, time and location of Andatee's presentation at the Rodman & Renshaw Annual China Investment Conference are as follows:
Date: Tuesday, March 9, 2010 Time: 9:25 AM Beijing Time, Ballroom I Presenter: Bill Wen, Chief Financial Officer Venue: The Regent Hotel 99 Jinbao Street Beijing, China
The Rodman & Renshaw Annual China Investment Conference is a three-day conference that brings together executives from more than 130 U.S.-listed Chinese companies. This event is designed to provide investors with companies across a variety of sectors, including agriculture, auto, cleantech & energy, consumer, retail, education, healthcare, industrial and technology. The conference combines company presentations, management one-on-one meetings, and daily networking opportunities over breakfast, lunch and cocktails to provide institutional clients with extensive interaction with senior management. Interested parties and investors who wish to meet with Andatee's management may contact Rodman & Renshaw.
About Andatee China Marine Fuel Services
Andatee China Marine Fuel Services Corporation is a leading independent operator engaged in the production, storage, distribution, wholesale purchase and sale of blended marine fuel oil for cargo and fishing vessels in Northern China. Headquartered in the City of Dalian, a key international shipping hub and an international logistics center in Northern China, Andatee maintains operations in Liaoning, Shandong and Zhejiang Provinces in the People's Republic of China.
Andatee China Marine Fuel Services provides customers with value-added benefits, including single-supplier convenience, competitive pricing, logistical support and fuel quality control. Its products are substitutes for diesel used throughout east China fishing industry. Backed by core facilities, such as storage tanks, marine fuel pumps, blending facilities and berths (the space allotted to a vessel at the wharf), its sales network covers major depots along the towns of Dandong, Shidao and Shipu along the east coast of China. Additional information about the Company is available at http://www.andatee.com .
For more information, please contact: Company Contact: Mr. Wen Tong Chief Financial Officer Andatee China Marine Fuel Services Corporation Tel: +86-411-8360-4683 Email: bill.wen@andatee.com Website: http://www.andatee.com CCG Investor Relations Ed Job, CFA
tuna
Sweet move wick!! tuna
Chinese AMCF 8.17 +.27 presents tomorrow:
Press Release Source: Andatee China Marine Fuel Services Corporation On Wednesday March 3, 2010, 8:00 am EST
DALIAN, China, March 3 /PRNewswire-Asia/ -- Andatee China Marine Fuel Services Corporation (Nasdaq:AMCF - News), the leading independent operator engaged in the production, storage, distribution, wholesale purchase and sale of blended marine fuel oil for cargo and fishing vessels in Northern China, today announced the Company's management team will present at the upcoming Rodman & Renshaw Annual China Investment Conference in Beijing, China.
The date, time and location of Andatee's presentation at the Rodman & Renshaw Annual China Investment Conference are as follows:
Date: Tuesday, March 9, 2010 Time: 9:25 AM Beijing Time, Ballroom I Presenter: Bill Wen, Chief Financial Officer Venue: The Regent Hotel 99 Jinbao Street Beijing, China
The Rodman & Renshaw Annual China Investment Conference is a three-day conference that brings together executives from more than 130 U.S.-listed Chinese companies. This event is designed to provide investors with companies across a variety of sectors, including agriculture, auto, cleantech & energy, consumer, retail, education, healthcare, industrial and technology. The conference combines company presentations, management one-on-one meetings, and daily networking opportunities over breakfast, lunch and cocktails to provide institutional clients with extensive interaction with senior management. Interested parties and investors who wish to meet with Andatee's management may contact Rodman & Renshaw.
About Andatee China Marine Fuel Services
Andatee China Marine Fuel Services Corporation is a leading independent operator engaged in the production, storage, distribution, wholesale purchase and sale of blended marine fuel oil for cargo and fishing vessels in Northern China. Headquartered in the City of Dalian, a key international shipping hub and an international logistics center in Northern China, Andatee maintains operations in Liaoning, Shandong and Zhejiang Provinces in the People's Republic of China.
Andatee China Marine Fuel Services provides customers with value-added benefits, including single-supplier convenience, competitive pricing, logistical support and fuel quality control. Its products are substitutes for diesel used throughout east China fishing industry. Backed by core facilities, such as storage tanks, marine fuel pumps, blending facilities and berths (the space allotted to a vessel at the wharf), its sales network covers major depots along the towns of Dandong, Shidao and Shipu along the east coast of China. Additional information about the Company is available at http://www.andatee.com .
For more information, please contact: Company Contact: Mr. Wen Tong Chief Financial Officer Andatee China Marine Fuel Services Corporation Tel: +86-411-8360-4683 Email: bill.wen@andatee.com Website: http://www.andatee.com CCG Investor Relations Ed Job, CFA
tuna
Asian markets pop!! "Stock futures rose slightly Monday as investors welcomed a fresh round of corporate deals. Asian markets surged Monday in their first trading session following an upbeat U.S. jobs report Friday." copied off of Yahoo Financial News...tuna
Appreciate it excel...I have considered that but haven't ever tried to use Ebay before. I'll see if I get it sold this month or not and then look at that again! Thanks a lot!! tuna
Hi all! I have 20 autographs of players of the '62 inagural N.Y. Mets baseball team on a N.Y. Mets Yearbook poster, framed and certified front and back. It was purchased at the stadium for $995 several years ago according to the lady who I got it from (now divorced and the $995 price tag is still on it).
I'm wanting to sell it and can provide info and photos if there are any Mets fans here...asking $450 plus any shipping costs. Let me know if any questions....thankyou! tuna
You would certainly think so MWM! What a chart! Best of luck!! tuna
Sweet move on ANO Jim...thanks for the heads up and hope your weekend is a beauty!!
Nice pop on it...didn't care for the financials on that one though so passed on it...tuna
Unreal on CHGY...I scalped it for a quick gain but should have just held...haha! Have a good weekend...tuna
Guidance news on LLEN 9.02 +.52 from yesterday:
L&L Energy Reaffirms Fiscal 2010 Guidance and Will Present at the American Coal Council Spring Forum
Press Release Source: L&L Energy, Inc. On Thursday March 4, 2010, 6:00 am EST
SEATTLE, March 4 /PRNewswire-FirstCall/ -- L&L Energy, Inc., (Nasdaq:LLEN - News), a U.S.-based company operating coal businesses in China, today reaffirms guidance for the fiscal year 2010 and announces that Dickson V. Lee, Chairman and CEO, will present at the American Coal Council (ACC) Spring Forum in Clearwater, Florida, on March 4, 2010.
As previously released on October 9, 2009, the Company expects annual revenue of $108.1 million, projected net income of $28.1 million, and earnings per share of $0.94 for the fiscal year ending April 30, 2010, on a GAAP basis.
The Company is scheduled to present on March 4, 2010 as part of the ACC Forum's concluding keynote session from 9:15 am – 10:45 am Eastern Time. Mr. Lee will provide an overview on China's coal industry and of L&L's operations.
About the Spring Coal Conference
The ACC's Spring Coal program examines marketplace and public policy issues of critical importance to the utility-coal industry. The event serves as a forum for senior industry executives from companies that produce or/and consume coal. The program features presentations from coal suppliers, utilities, railroads and energy traders, along with leading consultants and government representatives.
About L&L Energy
Founded in 1995 and headquartered in Seattle, L&L (http://www.LLEnergyInc.com) focuses on serving the energy market in China. Through its subsidiaries, it operates profitable coal mines, coal wholesale, coking, and coal-washing facilities in Yunnan and Guizhou Provinces.
Forward-Looking Statements
The statements contained words that are not historical fact, including but not limited to, statements using terms such as "anticipate," "expert," "plan," and other expressions, including statements related to Company's future performance, are all "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995 and involve a number of risks and uncertainties. Actual results described in this document could differ materially due to numerous factors made by the company filing with the Securities and Exchange Commission. Other than as required under the securities laws, the Company does not assume a duty to update these forward-looking statements.
Contacts:
Dave Gentry
RedChip Companies, Inc.
(800)733-2447, Ext.104
info@redchip.com
John Baldissera
BPC Financial Marketing
(800)368-1217
tuna
News on LLEN on guidance yesterday:
L&L Energy Reaffirms Fiscal 2010 Guidance and Will Present at the American Coal Council Spring Forum
Press Release Source: L&L Energy, Inc. On Thursday March 4, 2010, 6:00 am EST
SEATTLE, March 4 /PRNewswire-FirstCall/ -- L&L Energy, Inc., (Nasdaq:LLEN - News), a U.S.-based company operating coal businesses in China, today reaffirms guidance for the fiscal year 2010 and announces that Dickson V. Lee, Chairman and CEO, will present at the American Coal Council (ACC) Spring Forum in Clearwater, Florida, on March 4, 2010.
As previously released on October 9, 2009, the Company expects annual revenue of $108.1 million, projected net income of $28.1 million, and earnings per share of $0.94 for the fiscal year ending April 30, 2010, on a GAAP basis.
The Company is scheduled to present on March 4, 2010 as part of the ACC Forum's concluding keynote session from 9:15 am – 10:45 am Eastern Time. Mr. Lee will provide an overview on China's coal industry and of L&L's operations.
About the Spring Coal Conference
The ACC's Spring Coal program examines marketplace and public policy issues of critical importance to the utility-coal industry. The event serves as a forum for senior industry executives from companies that produce or/and consume coal. The program features presentations from coal suppliers, utilities, railroads and energy traders, along with leading consultants and government representatives.
About L&L Energy
Founded in 1995 and headquartered in Seattle, L&L (http://www.LLEnergyInc.com) focuses on serving the energy market in China. Through its subsidiaries, it operates profitable coal mines, coal wholesale, coking, and coal-washing facilities in Yunnan and Guizhou Provinces.
Forward-Looking Statements
The statements contained words that are not historical fact, including but not limited to, statements using terms such as "anticipate," "expert," "plan," and other expressions, including statements related to Company's future performance, are all "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995 and involve a number of risks and uncertainties. Actual results described in this document could differ materially due to numerous factors made by the company filing with the Securities and Exchange Commission. Other than as required under the securities laws, the Company does not assume a duty to update these forward-looking statements.
Contacts:
Dave Gentry
RedChip Companies, Inc.
(800)733-2447, Ext.104
info@redchip.com
John Baldissera
BPC Financial Marketing
(800)368-1217
tuna
Back in LLEN 9.13/9.15 on breaking to new 52wk high on strong volume! An earlier big buy when it received approval for trading on the Nasdaq up from the bb market. Another great Chinese high growth low PE stock here imho...tuna
Chinese LLEN 9.18 +.68 new 52wk high also and another excellent high growth low PE stock that recently moved up to Nasdaq off bb market...tuna
Also Chinese CHGY 2.04 +.26 has been on a tear since reporting super earnings!!
Watch Chinese AMCF hit 8.23 new 52wk high...backed off to 8.10 here...tuna
Thanks wick...AMCF new 52wk high 8.23! Now at 8.10 +.67 and my guess is this one will see double digits before long based just on strong fundaments, spectacular earnings and revenue growth, and it's a Chinese company!! GL...tuna
Gapper AMCF $7.83 +.40 now but broke $8 temporarily on this fast growing Chinese company...tuna
Put in for another 20k of EBIG but it's bouncing back now so probably won't get 'em....tuna
RNN 1.45 +.11 moving up nicely!
Chinese AMCF $8.00 +.57 here!! Holding for double digits...tuna
Thanks Paul though on AMCF I'm waiting for double digits hopefully! Way to go with the big gain on it...glad you didn't get stopped out earlier. Sorry about the stalker problem but we'll keep in touch and all the best!! tuna
AMCF $8.00 +.57 my favorite Chinese low pe high growth stock...that's a new 52wk high for it also after posting $1.11 in earnings earlier this week...tuna
Chinese CHGS 3.80 +.42 popping also!! tuna
Wow!! AMCF $7.85 +.42 at 52wk high again!! tuna
Like AMCF 7.72 +.29 chances good for taking out that 52wk high of 7.85 today imho...love this company!! tuna
Chinese AMCF 7.64 +.21 w/$1.11 earnings up over 300% this week and a 52wk high of 7.85 and that may be shot down today possibly! tuna
Chinese CHGS 3.41 +.03 hit 3.74 HOD yesterday...like to see that fall...tuna
Thanks ace65! I'll take a look and good luck! tuna
YW wick! AMCF CHGS are my only current Chinese holdings but may add some on any weakness...GL! tuna
Chinese CHGS 3.40 x 3.50 PM yesterday 1st day of trading on the NYSE-Amex exchange for them!
Chinese stocks may pop on this news today:
China promises strong growth in 'crucial year'
China's Wen promises strong growth in `crucial year,' efforts to promote clean industries
Chinese Premier Wen Jiabao is projected on a screen as he reads out the government work report during the opening session of the annual National People's Congress in Beijing's Great Hall of the People, China, Friday, March 5, 2010. (AP Photo/Ng Han Guan)
Joe Mcdonald, AP Business Writer, On Friday March 5, 2010, 6:44 am EST
BEIJING (AP) -- China's Premier Wen Jiabao promised strong growth this year and said the government will combat inflation and risks to banks to keep the rebound in the world's third-largest economy on track.
In an annual report to China's legislature, Wen announced a growth target Friday of 8 percent in a "crucial year" for recovery. He said stimulus spending and easy credit will continue because the basis of renewed global growth is still weak.
Beijing will keep its currency "basically stable," Wen said, giving no sign whether it might ease exchange-rate controls that Washington and other trading partners say keep China's yuan undervalued, swelling its trade surplus.
Wen said the government will take steps to control inflation and other problems fueled by the 4 trillion yuan ($586 billion) stimulus and a flood of bank lending that helped China rebound quickly from the global downturn.
"This is a crucial year for continuing to deal with the global financial crisis, maintaining steady and rapid economic development and accelerating the transformation of the pattern of economic development," the premier said in a nationally televised speech at Beijing's Great Hall of the People.
Any hiccup in China's recovery could have global repercussions if it erodes the country's demand for U.S. and European factory equipment or imported iron ore and other raw materials from Australia, Brazil and other countries.
The government has announced an 8 percent growth target annually in recent years and usually exceeds it. Last year's growth was 8.7 percent.
The government hopes to create 9 million new jobs while holding this year's inflation rate to 3 percent, Wen said. He said total central and local government spending is forecast at 8.5 trillion yuan ($1.2 trillion), with a 1 trillion yuan ($145 billion) deficit.
Wen promised more steps to boost domestic consumer spending and the creation of high-tech industry to reduce reliance on exports and investment to drive growth. He said the government will do more to develop China's growing clean energy industries.
"We urgently need to transform the pattern of economic development," he said.
In a separate report, the Cabinet's planning agency promised to open more areas of the economy to foreign investors and said it would guide them to high-tech fields, clean energy and environmental protection. It said China hopes to attract $96 billion in foreign direct investment this year.
Wen warned that "risks in the banking and public finance sectors are increasing," though he gave no details. He promised to strengthen risk management and make regulatory oversight of financial industries more effective.
China's banks are flush with cash and avoided the mortgage turmoil that battered Western lenders. But regulators worry that lending standards were relaxed as bankers complied with orders to support the stimulus and too much money went to unneeded factories and other assets, possibly leading to a wave of loan defaults later.
The government has ordered banks to set aside more reserves in a step to keep lending stable but has avoided raising interest rates, which might slow growth.
Wen promised to "resolutely curb" a surge in politically sensitive housing costs, which accelerated in January, rising by 9.5 percent from a year earlier in 70 cities. He promised more spending to build low-income housing.
Communist leaders worry that a surge in inflation and housing costs could erode the public's gains from economic reforms, possibly fueling social tensions and frustration about corruption and official abuses.
He repeated the government's earlier announcement that it will scale back total lending by China's banks to 7.5 trillion yuan ($1.1 trillion) this year. Lenders handed out some 9.5 trillion yuan ($1.4 trillion) last year. Nevertheless, Wen said this year's limit is still "moderately easy" and should meet reasonable credit needs.
Beijing faces rising pressure from Washington and other trading partners to ease its currency controls, an issue that governments set aside as they collaborated to revive global growth. President Barack Obama vowed last month to press for the elimination of currency systems that depress export prices and hurt American companies.
The issue is especially sensitive at a time when other countries are trying to boost trade to recover from the global economic crisis.
The yuan's value was tied to the dollar for decades. Beijing broke that link in 2005 and allowed the currency to rise by about 20 percent through late 2008. It halted that rise after the global crisis hit to help Chinese exporters compete abroad.
A group of U.S. manufacturers and labor unions, the Fair Currency Coalition, is calling on Congress to declare China's currency controls an illegal subsidy and impose sanctions if they are not ended.
"China's subsidy-induced price advantage fuels that country's trade surpluses and undercuts America's economic recovery," the group said in a Feb. 24 statement.
tuna
I wasn't around at the time but will be watching today wick!
Also fabian, this news may help Chinese stocks too:
China promises strong growth in 'crucial year'
China's Wen promises strong growth in `crucial year,' efforts to promote clean industries
Chinese Premier Wen Jiabao is projected on a screen as he reads out the government work report during the opening session of the annual National People's Congress in Beijing's Great Hall of the People, China, Friday, March 5, 2010. (AP Photo/Ng Han Guan)
Joe Mcdonald, AP Business Writer, On Friday March 5, 2010, 6:44 am EST
BEIJING (AP) -- China's Premier Wen Jiabao promised strong growth this year and said the government will combat inflation and risks to banks to keep the rebound in the world's third-largest economy on track.
In an annual report to China's legislature, Wen announced a growth target Friday of 8 percent in a "crucial year" for recovery. He said stimulus spending and easy credit will continue because the basis of renewed global growth is still weak.
Beijing will keep its currency "basically stable," Wen said, giving no sign whether it might ease exchange-rate controls that Washington and other trading partners say keep China's yuan undervalued, swelling its trade surplus.
Wen said the government will take steps to control inflation and other problems fueled by the 4 trillion yuan ($586 billion) stimulus and a flood of bank lending that helped China rebound quickly from the global downturn.
"This is a crucial year for continuing to deal with the global financial crisis, maintaining steady and rapid economic development and accelerating the transformation of the pattern of economic development," the premier said in a nationally televised speech at Beijing's Great Hall of the People.
Any hiccup in China's recovery could have global repercussions if it erodes the country's demand for U.S. and European factory equipment or imported iron ore and other raw materials from Australia, Brazil and other countries.
The government has announced an 8 percent growth target annually in recent years and usually exceeds it. Last year's growth was 8.7 percent.
The government hopes to create 9 million new jobs while holding this year's inflation rate to 3 percent, Wen said. He said total central and local government spending is forecast at 8.5 trillion yuan ($1.2 trillion), with a 1 trillion yuan ($145 billion) deficit.
Wen promised more steps to boost domestic consumer spending and the creation of high-tech industry to reduce reliance on exports and investment to drive growth. He said the government will do more to develop China's growing clean energy industries.
"We urgently need to transform the pattern of economic development," he said.
In a separate report, the Cabinet's planning agency promised to open more areas of the economy to foreign investors and said it would guide them to high-tech fields, clean energy and environmental protection. It said China hopes to attract $96 billion in foreign direct investment this year.
Wen warned that "risks in the banking and public finance sectors are increasing," though he gave no details. He promised to strengthen risk management and make regulatory oversight of financial industries more effective.
China's banks are flush with cash and avoided the mortgage turmoil that battered Western lenders. But regulators worry that lending standards were relaxed as bankers complied with orders to support the stimulus and too much money went to unneeded factories and other assets, possibly leading to a wave of loan defaults later.
The government has ordered banks to set aside more reserves in a step to keep lending stable but has avoided raising interest rates, which might slow growth.
Wen promised to "resolutely curb" a surge in politically sensitive housing costs, which accelerated in January, rising by 9.5 percent from a year earlier in 70 cities. He promised more spending to build low-income housing.
Communist leaders worry that a surge in inflation and housing costs could erode the public's gains from economic reforms, possibly fueling social tensions and frustration about corruption and official abuses.
He repeated the government's earlier announcement that it will scale back total lending by China's banks to 7.5 trillion yuan ($1.1 trillion) this year. Lenders handed out some 9.5 trillion yuan ($1.4 trillion) last year. Nevertheless, Wen said this year's limit is still "moderately easy" and should meet reasonable credit needs.
Beijing faces rising pressure from Washington and other trading partners to ease its currency controls, an issue that governments set aside as they collaborated to revive global growth. President Barack Obama vowed last month to press for the elimination of currency systems that depress export prices and hurt American companies.
The issue is especially sensitive at a time when other countries are trying to boost trade to recover from the global economic crisis.
The yuan's value was tied to the dollar for decades. Beijing broke that link in 2005 and allowed the currency to rise by about 20 percent through late 2008. It halted that rise after the global crisis hit to help Chinese exporters compete abroad.
A group of U.S. manufacturers and labor unions, the Fair Currency Coalition, is calling on Congress to declare China's currency controls an illegal subsidy and impose sanctions if they are not ended.
"China's subsidy-induced price advantage fuels that country's trade surpluses and undercuts America's economic recovery," the group said in a Feb. 24 statement.
tuna
Appreciate it fabian....thanks much for the input!! tuna
Good news from China may help Chinese stocks: China promises strong growth in 'crucial year'
China's Wen promises strong growth in `crucial year,' efforts to promote clean industries
Chinese Premier Wen Jiabao is projected on a screen as he reads out the government work report during the opening session of the annual National People's Congress in Beijing's Great Hall of the People, China, Friday, March 5, 2010. (AP Photo/Ng Han Guan)
Joe Mcdonald, AP Business Writer, On Friday March 5, 2010, 6:44 am EST
BEIJING (AP) -- China's Premier Wen Jiabao promised strong growth this year and said the government will combat inflation and risks to banks to keep the rebound in the world's third-largest economy on track.
In an annual report to China's legislature, Wen announced a growth target Friday of 8 percent in a "crucial year" for recovery. He said stimulus spending and easy credit will continue because the basis of renewed global growth is still weak.
Beijing will keep its currency "basically stable," Wen said, giving no sign whether it might ease exchange-rate controls that Washington and other trading partners say keep China's yuan undervalued, swelling its trade surplus.
Wen said the government will take steps to control inflation and other problems fueled by the 4 trillion yuan ($586 billion) stimulus and a flood of bank lending that helped China rebound quickly from the global downturn.
"This is a crucial year for continuing to deal with the global financial crisis, maintaining steady and rapid economic development and accelerating the transformation of the pattern of economic development," the premier said in a nationally televised speech at Beijing's Great Hall of the People.
Any hiccup in China's recovery could have global repercussions if it erodes the country's demand for U.S. and European factory equipment or imported iron ore and other raw materials from Australia, Brazil and other countries.
The government has announced an 8 percent growth target annually in recent years and usually exceeds it. Last year's growth was 8.7 percent.
The government hopes to create 9 million new jobs while holding this year's inflation rate to 3 percent, Wen said. He said total central and local government spending is forecast at 8.5 trillion yuan ($1.2 trillion), with a 1 trillion yuan ($145 billion) deficit.
Wen promised more steps to boost domestic consumer spending and the creation of high-tech industry to reduce reliance on exports and investment to drive growth. He said the government will do more to develop China's growing clean energy industries.
"We urgently need to transform the pattern of economic development," he said.
In a separate report, the Cabinet's planning agency promised to open more areas of the economy to foreign investors and said it would guide them to high-tech fields, clean energy and environmental protection. It said China hopes to attract $96 billion in foreign direct investment this year.
Wen warned that "risks in the banking and public finance sectors are increasing," though he gave no details. He promised to strengthen risk management and make regulatory oversight of financial industries more effective.
China's banks are flush with cash and avoided the mortgage turmoil that battered Western lenders. But regulators worry that lending standards were relaxed as bankers complied with orders to support the stimulus and too much money went to unneeded factories and other assets, possibly leading to a wave of loan defaults later.
The government has ordered banks to set aside more reserves in a step to keep lending stable but has avoided raising interest rates, which might slow growth.
Wen promised to "resolutely curb" a surge in politically sensitive housing costs, which accelerated in January, rising by 9.5 percent from a year earlier in 70 cities. He promised more spending to build low-income housing.
Communist leaders worry that a surge in inflation and housing costs could erode the public's gains from economic reforms, possibly fueling social tensions and frustration about corruption and official abuses.
He repeated the government's earlier announcement that it will scale back total lending by China's banks to 7.5 trillion yuan ($1.1 trillion) this year. Lenders handed out some 9.5 trillion yuan ($1.4 trillion) last year. Nevertheless, Wen said this year's limit is still "moderately easy" and should meet reasonable credit needs.
Beijing faces rising pressure from Washington and other trading partners to ease its currency controls, an issue that governments set aside as they collaborated to revive global growth. President Barack Obama vowed last month to press for the elimination of currency systems that depress export prices and hurt American companies.
The issue is especially sensitive at a time when other countries are trying to boost trade to recover from the global economic crisis.
The yuan's value was tied to the dollar for decades. Beijing broke that link in 2005 and allowed the currency to rise by about 20 percent through late 2008. It halted that rise after the global crisis hit to help Chinese exporters compete abroad.
A group of U.S. manufacturers and labor unions, the Fair Currency Coalition, is calling on Congress to declare China's currency controls an illegal subsidy and impose sanctions if they are not ended.
"China's subsidy-induced price advantage fuels that country's trade surpluses and undercuts America's economic recovery," the group said in a Feb. 24 statement.
tuna
For anyone who missed my art website URL: http://artofeverycolor.com/ihub.htm posted around noon today, you'll find really cheap prices, nice quality items and pieces from all around the world...something for everybody hopefully....hope you swing by to check it out! Thanks...tuna
Thanks fabian! I agree with you on the trading of Chinese companies and like you said...they're not ultra cheap like back when I was unfortunately not here. If I had been I would have done very well I think since I mostly buy just Chinese stocks. I try to find the low PE stocks that are growing revs and earnings at a very strong pace. LLEN did well for me in this catagory recently also, plus it was going to Nasdaq as well. I'm looking to buy back in it soon again too if the price is right. CNAM is one I sold too soon but I don't think anyone saw this kind of a move coming on the news it had. I know I surely didn't.
Thanks for looking at AMCF as it's always nice to have a second opinion on a stock! All the best...tuna