**SXPT** Very small float osf 1.3M------>Fast track IPO here:
Sino Express Travel Limited (OTC:SXPT), a leading travel service provider in the greater China, today announced its unaudited financial results for the quarter ended December 30, 2005.
A Highlights for the fourth quarter of 2005:
Net revenues were US$1.75 million Gross profit was US$204,154
Pro forma combined financial statements for the fourth quarter of 2005: The pro forma Net revenues were US$2.18 million The pro forma Gross profit was US$241,177
"We are pleased to announce a solid fourth quarter performance. The Sino team will continue focusing on its long-term development plan in the New Year. As we execute our expansion strategies in the greater China, we expect 2006 will be a year of high growth in profits and sales in this fragmented industry," commented Xia Chen, Chief Executive Officer of Sino Express.
**Undervalued** Cheap might be a word associated with Chinese exports, but it hasn’t been used for some time to refer to Chinese stocks, which trade here as American depositary receipts (ADRs). Yet of the 11 stocks I looked at, the average price-to-earnings ratio based on estimated 2005 earnings is a scant 15.8%
Of course it should be noted that few of these companies have wide followings on Wall Street, so the earnings estimates come from a limited number of analysts; in several cases, it’s just one. Still, it seems reasonable to assume that the stocks are cheap, at least by historical standards. Even if the Street is being too optimistic by 10%, the group would still be cheap relative to the market.
What’s more, Chinese companies are likely to benefit from an explosive economy for years to come. Bolstered by strong exports, infrastructure improvements and an expanding middle class, China has average GDP growth of 9.3% over the past two years, more than double the U.S. growth rate.
Slow it down Meanwhile, the Chinese government is taking steps to prevent the type of hyper-growth that often precedes a prolonged downturn, such as what Japan experienced. If the government succeeds in maintaining GDP growth in the high single- to low double-digit range, there’s every reason to believe that Chinese companies will continue experiencing robust growth as well.
Strong growth and cheap prices is an attractive one-two combination on Wall Street, and one that's increasingly difficult to find. Consequently, when you come across such a find, you want to exploit it to the fullest. How best to do that in this situation?
One way is to invest in country-specific mutual funds. There are several tied to China, but most are littered with relatively high fees.
Another way would be to buy shares in one of the new Chinese exchange-traded funds, the iShares FTSE/Xinhua China 25 Index
Encompassing all components of Travel & Tourism consumption, investment, government spending and exports is expected to grow 5.4% (real terms) and total $6.2 trillion in 2005. The ten-year annualized growth (2006-2015) forecast is 4.6% per annum illustrating the outlook for strong long-term growth.
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