Farm the turd -- beat the herd
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Why is this not a sticky anymore? More the merrier, right?
VLOV - Transfer of Business Operations from VIE to Subsidiary
Since January 1, 2011, the Company has been in the process of transferring its business operations from Jinjiang Yinglin Fashion Limited ("Yinglin Jinduren") which it controls through contractual arrangements, to Dong Rong (China) Co., Ltd. ("China Dong Rong"), the Company's wholly-owned subsidiary in China. The transfer of all design, marketing, sales and purchasing-related assets and sales contracts previously under Yinglin Jinduren were completed during the first quarter of 2011, and all business operations of the Company are currently conducted by China Dong Rong. On March 10, 2011, the remaining $4 million of registered capital for China Dong Rong was funded.
Delayed 10k got people spooked
Emerald Dairy Inc. Files Extension for Fiscal 2010 Form 10-K Filing
Company Provides 2010 Revenue Projections of Approximately $54.0 to $56.0 million
WATG also, nothing from either one
Halter USX China Index deletions:
(NINE:$1.37,00$0.00,000.00%)
(AMCF:$4.10,00$-0.20,00-4.65%)
(OINK:$4.15,00$0.10,002.47%)
(CRTP:$1.54,00$-0.13,00-7.78%)
(SBAY:$2.70,00$-0.21,00-7.22%)
(KONE:$2.06,00$-0.03,00-1.44%)
VLOV .77 FY2010 diluted eps vs .40 fy2009, P/E 2.3
http://xml.10kwizard.com/filing_raw.php?repo=tenk&ipage=7515197
also CIWT and CEU
ABAT ramping....or not,lol
China Industrial Waste Management Reports Delay in Filing 2010 Annual Report on Form-10K and Reiterates Unaudited Preliminary Results for Fiscal Year 2010
Kandi Technologies Reports Full Year 2010 Financial Results
Full Year Adjusted Net Income Grew 76%; Revenue of $42.9 Million Exceeded Guidance 03/31 06:19 AM
JINHUA, CHINA -- (MARKET WIRE) -- 03/31/11 -- Kandi Technologies, Corp. (KNDI:$3.37,00$-0.06,00-1.75%) , a leading Chinese exporter of off-road vehicles and developer of the "COCO" all-electric vehicle, today reported financial results for the fourth quarter and full year ended Dec. 31, 2010.
Selected 2010 Financial Highlights:
Full year revenues increased 26.8% to $42.9 million (compared with guidance of $40 million) due to continued strength in ATV and Go-kart sales
On a non-GAAP basis, which excludes certain warrants, options and convertible notes related charges (see table below), the Company reported 2010 adjusted net income of $5.0 million, up 76% from adjusted net income of $2.8 million, in the same period last year
Operating income increased 41.5% to $3.2 million in 2010, from $2.3 million in 2009
Working capital surplus of $18.5 million at the end of 2010, an improvement from a working capital deficit of $12.1 million at the end of 2009
Cash and cash equivalents (including restricted cash) totaled $25.1 million at year-end, a significant increase from $5.9 million in 2009
Net cash provided by operations was $4.4 million, compared to $(8.5) million in cash used in operations in 2009
"We are very pleased to announce increased revenues this past year, especially from our traditional off-road products, as our legacy business returned to more normal conditions with revenues approaching record 2008 levels," said Mr. Xiaoming Hu, CEO and Chairman of the Board of Kandi Technologies (KNDI:$3.37,00$-0.06,00-1.75%) . "This past year marked an exciting time for Kandi (KNDI:$3.37,00$-0.06,00-1.75%) as we cultivated our previously announced strategic alliances and joint ventures with some of China's largest energy and battery companies, we received government approval and sold our first EVs in China, while developing pure EV technology and infrastructure that will ultimately change the automotive landscape in China and beyond."
Full Year 2010 Financial Results
Full year revenues increased by 26.8% to $42.9 million from $33.8 million in 2009. Improved results reflected the strong recovery of the Company's traditional off-road vehicle market, led by year-over-year increases of 120% in Go-kart sales and a 23% increase in ATV sales, primarily in the U.S.
Gross profit increased to $9.6 million in 2010, up from $8.2 million in the prior year. With carefully managed expenses, operating income rose 41.5% to $3.2 million in 2010, compared to operating income of $2.3 million in 2009.
Government grants, investment income and other income increased to $1.1 million, compared to $0.5 million in 2009. Interest expense increased to $2.2 million from $1.5 million in 2009 due primarily to the interest expense and amortization of debt discount related to the Company's convertible notes. In 2010, the Company also incurred a $2.7 million non-cash charge caused by the change in the fair value of financial instruments resulting from changes in fair value of warrants as well as the change in the conversion features embedded in convertible notes.
Excluding the effects of option-related expenses, the convertible notes interest expense, the effect caused by amortization of discount on convertible notes, and the change of the fair value of financial derivatives for the fiscal year ended December 31, 2010, the Company's net income was $5.0 million, up 76% as compared with net income of $2.8 million for the same period of 2009 excluding the same effects.
At the end of 2010, the Company had a working capital surplus of $18.5 million, a major improvement from a working capital deficit of $12.1 million at year-end 2009. The dramatic change in working capital was primarily due to the Company's issuance of $10.0 million in long-term convertible notes in January 2010 and an additional equity offering which raised $16.6 million in December 2010. In addition, for the year ended December 31, 2010, cash provided by operating activities was $4.4 million compared with cash used by operating activities of $8.5 million in 2009.
Selected 2010 Operational Highlights
Forged Strategic Alliances with major energy and battery companies to launch the new Electric Vehicle era in China
Received government approval to sell KD5010 (lead-acid battery) and KD5011 (lithium-ion battery) pure Electric Vehicles in China
Introduced a new all-electric hardtop COCO model in the U.S.
Unveiled an exciting two-seater 250cc Tricycle to the U.S. and European product lineup
Announced completion of the first "Battery Charging Farm" and "Express Change" station in Jinhua City
Kandi's (KNDI:$3.37,00$-0.06,00-1.75%) first consumer sales of pure Electric Vehicles in China
New Kandi EV models approved for national subsidy of up to RMB 60,000 per vehicle in all EV "pilot" cities throughout China
Announced first steps to expand consumer pure EV sales to neighboring provincial capital city of Hangzhou
Fourth Quarter 2010 Financial Results
Revenues for the fourth quarter were $14.3 million, compared to $14.7 million in the same period in 2009, and up 36% from sales of $10.5 million in the third quarter of 2010. The Company expects significant sales growth of the pure Electric Vehicles in China and further expansion of the product line in the future. Revenues for the quarter were aided by increases in the ATV and Go-kart segments, which grew 25.5% and 77.3% respectively over fourth quarter 2009, while also increasing sequentially from sales in the third quarter of 2010.
Operating income was $1.2 million in the fourth quarter of 2010, compared to operating income of $1.5 million in the fourth quarter of 2009.
Excluding the effects of option-related expenses, convertible notes' interest expense, the effects caused by the amortization of discount on convertible notes, and the change of the fair value of financial derivative, for the three months ended December 31, 2010, the Company recorded adjusted net income of $1.9 million, a slight increase from $1.8 million for the same period of 2009 excluding the same effects.
During the fourth quarter of 2010, efforts to further develop the battery "Express Change" business model and EV sales continued as the Company announced expansion of consumer pure EV sales to the neighboring provincial capital city of Hangzhou. Ongoing discussions with government officials in Hangzhou allow further expansion of the EV infrastructure network and will help overcome key impediments to the widespread adoption of EV technology. In December 2010, the New Kandi EV model 5011 was approved for a national subsidy of up to RMB 60,000 per vehicle in all EV "pilot" cities throughout China, which includes Hangzhou. The government subsidies in each "pilot" city allow the Company to expand its patent-protected and proven technology across geographic end markets. These subsidies also improve the attractiveness of Kandi's (KNDI:$3.37,00$-0.06,00-1.75%) pure EVs and consumers' ability to reduce their reliance on fossil fuels while improving air quality.
In the first quarter of 2011, the Company announced further developments in the European adoption of its pure EV products with a purchase order for 1,000 pure Electric Vehicles for the Italian market. Kandi (KNDI:$3.37,00$-0.06,00-1.75%) expects that deliveries to Italy will be concentrated in the Rome market, which will also provide a platform for further expansion throughout Europe. The energy savings, environmental friendliness and convenience of Kandi's (KNDI:$3.37,00$-0.06,00-1.75%) pure EVs are bringing the Company closer to realizing its global expansion ambitions.
"We remain very optimistic about achieving a leading role in China EV development," said Mr. Hu. "Our electric-powered super-mini vehicles continue to be our top priority as we expand our global sales of our super-mini car to meet emerging demand. We expect to see growing sales in Jinhua and other cities in China. We have recently made efforts to increase the sales of our EVs to Europe, and are optimistic that 2011 will be a year of growth and strong development for Kandi Technologies (KNDI:$3.37,00$-0.06,00-1.75%) ."
China Education Alliance, Inc. Postpones Earnings Conference Call from April 1 to Later in 2011
PBEP - Pacific Bepure Announces Record Financial Results for 2010 03/31 06:00 AM
NEW JERSEY and JINJIANG CITY, China, March 31, 2011 /PRNewswire-Asia/ -- Pacific Bepure Industry Inc. (PBEP:$1.30,00$0.00,000.00%) , one of China's leading domestic casual and sports footwear manufacturers with products sold under the brand name "Baopiao," a.k.a. "Bepure," today announced results for the year ended December 31, 2010.
Full Year Financial Highlights
Sales revenue rises 43.1% to $36.4 million
Gross profit rises 37.7% to $11.9 million
Net income rises 44.8% to $7.5 million, or $0.50 per share
Mr. Haiting Li, President and CEO of Pacific Bepure, stated, "Revenue for calendar and fiscal year 2010 increased by 43 percent to $36.4 million, gross profit grew nearly 38 percent to $11.9 million, and net profit rose 44.8 percent to $7.5 million. The strong double-digit increases in sales revenue, gross profit and net income resulted from continuing domestic and international expansion in our core Bepure footwear business and reflect the strong underlying consumer demand for our product lines and the strength of our distribution network. We continue to allocate resources to grow our business having recently completed the construction phase for our modernized, new production manufacturing facility in Quanzhou, Fujian Province. The new manufacturing facility expands the Company's annual production capacity by more than 70%, or 1.5 million additional pairs of footwear."
Full Year and Quarterly Financial Results
Revenue for the full year 2010 was $36.4 million versus $25.4 million for the same period last year, an increase of 43.1 percent. Gross profit for the full year 2010 was $11.9 million versus $8.6 million for the full year 2009, an increase of 37.7 percent. Operating income for the full year 2010 was $10.3 million versus $7.2 million for the full year 2009, an increase of 42.9 percent. Net income for 2010 was $7.5 million, or $0.50 per basic and diluted share, versus net income of $5.3 million, or $0.46 per basic and diluted share, for 2009 based on 15,000,000 and 11,202,740 weighted average basic shares outstanding, and 15,006,915 and 11,202,740 weighted average diluted shares outstanding, respectively.
Operational Highlights
Construction of the new manufacturing facility in Quanzhou, Fujian Province began in 2008 and cost approximately RMB 100 million (US$ 15.2 million). The facility is located in the Huinan Industrial Zone, Quanzhou, Fujian Province and has a total area of approximately 60,000 square meters (646,000 sq. feet) and floorage of approximately 30,000 square meters (323,000 sq. feet). To date, the physical plant and worker dormitories have been completed, and two new production lines have been constructed and assembled into the new facility. The new manufacturing facility, which commenced operations on February 10, 2011, expands the Company's annual production capacity by more than 70%, or 1.5 million additional pairs of footwear. The company previously outsourced a portion of its production to keep up with demand.
EESC - AH filing with no PR, stuffed back in the pantry. Fine by me.
EESC 10k out.
http://xml.10kwizard.com/filing_raw.php?repo=tenk&ipage=7512177
Diluted FY2010 eps .44 vs / .05 FY2009
They loose their tax shelter next year (but still get a %50 break).
"On March 30, 2011 there were approximately 298 holders of record of our common stock"
"To date, we have financed our operation and met capital expenditure requirements primarily through bank loans and operating income. "
"If we are able to maintain our recent level of cash flow from the Harbin Landfill operation, we should be able to fund the completion of Phase II and Phase III from our internal capital resources. However, if we are to achieve critical mass in our industry by developing or acquiring new landfills, we will require substantial infusions of capital. We do not know at this time whether we will be able to secure such financing, or on what terms it might be available.Based upon the financial resources available to Yifeng, management believes that it has sufficient capital and liquidity to sustain operations for at least the next twelve months."
GFRE - 8k, looks like HAP sold another 408k shares, this time @ 6.22
AJGH - American Jianye Greentech Holdings Finalizes Waste-to-Fuel Plant Design With Joint Venture Partner GeneSyst International 03/30 06:34 AM
NEW YORK and HARBIN, China, March 30, 2011 (GLOBE NEWSWIRE) -- American Jianye Greentech Holdings, Ltd., a leading developer, manufacturer and distributor of alcohol-based automobile fuel and civil-use fuel in China, today announced that it has completed the conceptual design of the Company's Suihua Waste-to-fuel Plant in Harbin. The company also announced the appointment of GeneSyst International as project manager to oversee construction and operation of the company's new facility.
Upon completion, anticipated within eighteen months, the facility is expected to process in excess of 500,000 tons of garbage and 1 million tons of sewage per year, and convert that waste into more than 100,000 tons of clean ethanol fuel and 35MW of power every year. At full capacity, the plant would generate annual sales of approximately $100 million.
Mr. Haipeng Wang, Chairman and President, commented, "By producing our own ethanol from municipal solid waste and sludge, we can lower the input costs for our blended fuels in excess of 15%. Our blended fuel combines ethanol and petroleum fuel, along with our proprietary fuel catalyst, which allows us to increase the concentration of ethanol up to 85%. The resulting fuel is cleaner, higher performance, and costs less than convention fuels. Our blended fuels are gaining wide-spread acceptance across China, and these waste-to-fuel plants will allow us to meet the growing demand."
Mr. Wang continued, "We are excited to partner with GeneSyst International on this groundbreaking project. We expect that within two years our Suihua waste-to-fuel plant in Harbin could contribute an additional US$25 to $30 million of net income annually."
UTA worth watching
"...will allow the Company and its independent auditors to complete their work on the financial statements and audit."
UTA earnings delay, aftermarket rape
in UTA for earnings tomorrow premarket
Wednesday, March 30, 2011 at 9 a.m. EST
Alfred Little Delivers Letter to China Integrated Energy's Independent Board Members 03/29 07:26 AM
SHANGHAI, March 29, 2011 /PRNewswire/ -- Alfred Little announced today that he sent a letter dated March 29, 2011 to the independent Board Members of China Integrated Energy, Inc. (CBEH:$2.7401,$0.0801,3.01%)
The full text of the letter follows:
March 29, 2011
Independent Members of the Board of Directors
China Integrated Energy, Inc.
Dongxin Century Square, 7th Floor
Hi-Tech Development District
Xi'an, Shaanxi Province
People's Republic of China
Attention: Larry Goldman, Director and Audit Committee Chairman
Wenbing Christopher Wang, Director
Junrong Guo, Director
VIA FACSIMILE AND EMAIL
Gentlemen:
Yesterday I published excerpts from a report prepared by the International Financial Research & Analysis Group ("IFRA") as well as time-lapse video surveillance records of China Integrated Energy ("CBEH" or "the Company") management conducting an investor tour of the Company's 150,000-ton biodiesel Tongchuan production facility on March 10, 2011. Four months of surveillance shows no meaningful production at the plant that management has publicly described as operating at 100% of capacity. If this were true, the plant would require seventeen (17) thirty-ton tanker delivery trucks each day to deliver raw materials and ship out finished biodiesel product. In four months the record shows only six tanker trucks entering the facility, five of which appeared on the morning of the investor tour and departed immediately thereafter.
This matter obviously requires the Board's immediate attention and I am pleased to see that the Audit Committee has authorized an independent investigation into the allegations against management. But I am surprised to see the Company immediately denied all the allegations against it since the video evidence, alone, is believed to provide proof that there has been no meaningful biodiesel production at the Tongchuan facility, which management claims is one of the largest in China. The video evidence is easily and immediately verifiable. Today I will post another series of videos showing further proof of no production activity at the Tongchuan facility from March 1st to 8th, 2011. This is in addition to the videos from February 10th to 19th already posted.
Furthermore, as soon as the Board engages a legal firm to conduct the independent investigation, I will immediately provide the investigators access to all the video evidence in my possession to assist them in quickly verifying the absence of any meaningful production at CBEH's biodiesel facilities.
In the meantime, the Independent Directors should consider a simple way they themselves can easily verify biodiesel production: Obtain the facility's closed circuit video security surveillance of the entry gate and count the capacity of tanker trucks entering the facility to confirm whether approximately 250 tons of biodiesel is being shipped out, on average, each day as needed for the plant to operate at 100% of capacity. This simple inspection could be achieved in an afternoon visit to the facility and would immediately verify the total lack of historical production.
More importantly, the Board should quickly take action to protect the remaining cash on the Company's books. This may be difficult since CBEH only controls the operating company, Xi'an Baorun Industrial ("Baorun") through a management agreement. Nevertheless it is the duty of the Board at this point to "lock down" the cash in Baorun's accounts, since Chinese State Administration of Industry and Commerce ("SAIC") reports clearly show Baorun has funneled U.S. investor money to friends and relatives of Baorun Chairman Gao Xincheng, who failed to disclose at least two large related party transactions involving his son in the Company's most recent 10-K filing.
For further reference, a summary of the IFRA report is available here:
http://labemp.files.wordpress.com/2011/03/time-lapse-video-shows-china-integrated-energy-defrauded-investors.pdf
A selection of IFRA's surveillance videos are available here:
http://vimeo.com/channels/CBEH
Sincerely,
Alfred Little
FUQI's last 18 minutes on Nasdaq - official now
13:08 FUQI Fuqi International, Inc. Common Stock 3/29/2011 Y 100 From Q (FUQI)**
http://www.otcbb.com/asp/dailylist_detail.asp?d=03/28/2011&mkt_ctg=ALL
TSTC: reporting $1.65-$1.7 EPS in Q4 of 2010 tomorrow, current pps is 8.05
delete
SBAY trash, be careful
Projected eps 1.8 FY2011
GFRE - Gulf Resources Provides 2011 Fiscal Year Financial Guidance 03/28 05:30 AM
NEW YORK and SHANDONG, China, March 28, 2011 /PRNewswire-Asia-FirstCall/ -- Gulf Resources, Inc. (GFRE:$5.54,00$0.00,000.00%) , a leading manufacturer of bromine, crude salt and specialty chemical products in China, today announced financial guidance for fiscal year 2011.
Based on the current market outlook and bromine price trends, the Company expects revenue to range from $195 million to $198 million and net income to range from $64 million and $66 million for the fiscal year 2011. This represents growth in revenue of between 23.2% to 25.1% and growth in net income of between 24.8% to 28.7% compared to the previous year. This guidance does not take into account any impact from potential acquisitions.
"As business environment and economic conditions continue to evolve for many of our customers in China, we continue to see strong demand for bromine, crude salt, and other specialty chemical products in 2011. We expect the price of bromine to stabilize at a high level and possibly reach a new historical high price during 2011," said Mr. Xiaobin Liu, CEO of Gulf Resources (GFRE:$5.54,00$0.00,000.00%) . "In addition, we will continue to look for acquisition targets of bromine assets and reserves in order to increase our competitive advantage and solidify our market leadership."
GFRE- Gulf Resources Provides 2011 Fiscal Year Financial Guidance 03/28 05:30 AM
NEW YORK and SHANDONG, China, March 28, 2011 /PRNewswire-Asia-FirstCall/ -- Gulf Resources, Inc. (GFRE:$5.54,00$0.00,000.00%) , a leading manufacturer of bromine, crude salt and specialty chemical products in China, today announced financial guidance for fiscal year 2011.
Based on the current market outlook and bromine price trends, the Company expects revenue to range from $195 million to $198 million and net income to range from $64 million and $66 million for the fiscal year 2011. This represents growth in revenue of between 23.2% to 25.1% and growth in net income of between 24.8% to 28.7% compared to the previous year. This guidance does not take into account any impact from potential acquisitions.
"As business environment and economic conditions continue to evolve for many of our customers in China, we continue to see strong demand for bromine, crude salt, and other specialty chemical products in 2011. We expect the price of bromine to stabilize at a high level and possibly reach a new historical high price during 2011," said Mr. Xiaobin Liu, CEO of Gulf Resources (GFRE:$5.54,00$0.00,000.00%) . "In addition, we will continue to look for acquisition targets of bromine assets and reserves in order to increase our competitive advantage and solidify our market leadership."
EESC- 3 amended 10k's filed Friday
GFRE tasty, bought a bunch Friday.
downloaded Google chrome a year ago, never looked back.
MaloneBailey clients in the Chinese marketplace cover various industries and include (but are not limited to):
NIVS IntelliMedia Technology Group, Inc. (capital raised: $30M)
AnHui Province Runji Cement Co., Inc.
Shenzhen YuePengCheng Motor Co., Ltd (capital raised: $35M)
Hubei Tongji Benda Ebei Pharmaceuticals Co., Ltd.
China Intelligent Electronic Company Limited
Qingdao Hongguan Shoes Co., Ltd.
Xi’An TV Media Co., Ltd.
Form 4 GULF RESOURCES, INC. For: Feb 16 Filed by: HAP Trading, LLC 03/25 12:54 PM 412k sold from 2/16/11 - 3/22/11
TSTC nHOD