China Growth Stocks

[derek2000]

CISG - 100M share buyback. Pre-market is 19.5, up 6%.

I do not follow this stock. Looks like it was under attack.

There is significant short interests (4.2M shares shorts). if the company actually buys, the short squeeze will be fun.


Settlement Date Short Interest Avg Daily Share Volume Days To Cover
11/15/2010 4,219,993 1,043,301 4.044847
10/29/2010 3,232,605 438,446 7.372869
10/15/2010 3,025,480 416,815 7.258568
9/30/2010 3,048,182 493,078 6.181947

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CNinsure Announces U.S. $100 Million Corporate Share Buyback Program

GUANGZHOU, China, Dec. 3, 2010 (GLOBE NEWSWIRE) -- CNinsure Inc., (Nasdaq:CISG - News) (the "Company" or "CNinsure"), a leading independent insurance intermediary company operating in China, today announced that its board of directors approved a corporate share repurchase program authorizing up to U.S. $100 million in American depositary shares ("ADSs") repurchases by June 30, 2011. Purchases will be made from time to time on the open market at prevailing market prices or in block trades, and will be subject to restrictions related to volume, price and timing. CNinsure plans to fund the share repurchase program with its available cash balance.

Mr. Yinan Hu, chairman and chief executive officer of CNinsure, commented, "The share repurchase program demonstrates our confidence in the long-term growth prospects of the Company and our commitment to enhancing shareholder value. With a 12-year track record, our business model has proven sustainable and positioned us to take advantage of significant growth opportunities in the rapidly expanding Chinese insurance market. We believe it is the right time to use our strong financial position to invest in the future of CNinsure."

About CNinsure Inc.

CNinsure is a leading independent insurance intermediary company operating in China. CNinsure's distribution network reaches many of China's most economically developed regions and affluent cities. The Company distributes a wide variety of property and casualty and life insurance products underwritten by domestic and foreign insurance companies operating in China, and provides insurance claims adjusting as well as other insurance-related services.


http://finance.yahoo.com/news/CNinsure-Announces-US-100-pz-2325313212.html?x=0&.v=1