Posts Tagged ‘china stocks’

Deer Consumer Products, Inc. (DEER) soars on record 2011 results

Thursday, March 29th, 2012

Deer Consumer ProductsShares of China-based Deer Consumer Products, Inc. (Nasdaq: DEER) were up as much as 53 percent from Wednesday’s closing price on Thursday after the company reported record 2011 financial results, and a rosy outlook for 2012.

Shares climbed as high as $4.89 on Thursday, up from Wednesday’s closing price of $3.18.

The company reported 2011 revenue of $226.7 million, up 28.9 percent from the previous year. The growth was driven by the company’s sales expansion in the China domestic market for its Deer branded product lines coupled with Deer Consumer Products’ ability to raise the average selling prices of its products, a March 29 press release stated.

Net income for 2011 increased 31 percent to $39.8 million, or $1.18 per share, over the same period last year.

The company also reaffirmed its 2012 financial guidance, and stated that it expects 2012 revenue guidance of between $270 million and $290 million, and net income of between $45 million and $47 million.

Deer’s product mix includes housewares and appliances such as blenders, choppers, food processors, and microwave ovens.

“Deer currently has access to approximately 4,000 retail locations across China and has developed a well-recognized brand by working with various retail channels,” said Deer Consumer Products’ Chairman and CEO Bill He in a March 29 press release. “We believe China remains the world’s largest and fastest growing consumer retail market and has strong domestic demand for small household appliances. There are approximately 35,000 retail locations across China that Deer could potentially penetrate. Deer has significant growth potential in China.”

Shares of DEER are down roughly 39 percent over the past 12 months, according to historical data provided by Yahoo Finance.

Andatee China Marine Fuel Services Corp. (AMCF) soars

Monday, October 10th, 2011

Shares of Andatee China Marine Fuel Services Corp. (Nasdaq: AMCF) surged as much as 45 percent from Friday’s closing price in morning trading on Monday on no news.

Shares of AMCF touched an intraday high of $3.48 per share, up from Friday’s closing price of $2.40. Trading volume at mid-day trading on Monday was 240,528, well above the company’s average 10-day trading volume of 36,856, according to Yahoo Finance.

For the quarter ended June 30, 2011, Andatee China Marine Fuel Services Corp. reported revenue of $63.1 million, a 43 percent increase over revenue of $$44.1 million reported in the same quarter a year ago.  Operating income for the second quarter decreased by $1.3 million, or 32.9%, from $3.9 million for the second quarter of 2010 to $2.6 million for the second quarter of 2011. Net income for the quarter was $1.3 million, down from $2.6 million in the same quarter a year earlier.

Andatee China Marine Fuel Services Corporation is an 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.


Kandi Technologies Corp. (KNDI) wins contract, stock ignites

Monday, July 11th, 2011

Kandi Technologies Corp. (Nasdaq: KNDI) shares rose 27.9% to $2.34. The Chinese electric-vehicles manufacturer said it signed an agreement with Hangzhou Electric Vehicle Service Co. to work with it on a municipal government electric-vehicle pilot program. Volume for the shares totaled 757,000, or better than double its daily average.

A news release issued July 11 stated that Hangzhou., a professional service company affiliate of State Grid Corporation, is assisting the local municipal government in launching the 20,000 pure electric vehicle pilot program for Hangzhou consumers through the end of 2012. Hangzhou Electric Vehicle Service Co. also manages the local State Grid “Express Change” battery service network.

Under the agreement, Hangzhou Electric Vehicle Service Co. will ensure that the service network being built by State Grid will support Kandi’s technical requirement and infrastructure needs, while permitting efficient and effective operation of Kandi’s EVs.

The same release quoted Kandi CEO Xiaoming Hu as saying, “We are very pleased to announce our newest strategic partnership with Hangzhou Electric Vehicle Service Co. This cooperative agreement will form a solid foundation for consumers’ access to Kandi’s pure electric vehicles in the Hangzhou market.”

Kandi Technologies, Corp. is a manufacturer and exporter of a variety of vehicles in China, making it a world leader in the production of popular off-road vehicles.

Highway Holdings Limited (HIHO) higher profits boost stock price

Wednesday, June 29th, 2011

Highway Holdings Limited (Nasdaq:HIHO) shares vaulted 38.6% to $4.13, after the company reported net income for fiscal year 2011 climbed sharply to $1.7 million, or $0.44 per diluted share, from $420,000, or $0.11 per diluted share, in fiscal 2010. Volume for the stock totaled 261,123 shares, trouncing an all-day average of just over 4,600.

“Results for fiscal 2011 reflect a strongly improved business environment and the benefits of streamlining operations to enhance operating efficiencies,” according to CEO Roland Kohl, who in the June 29 press release, highlighted the two key strategic initiatives implemented during the past few years that have greatly enhance profitability; reducing the company’s operations from four factories to one, and the utilization of automation in its manufacturing process.

“As a consequence, the company was able to further improve its balance sheet and increase its cash position to take advantage of future strategic growth opportunities,” Kohl said.

Gross profits improved for both the fiscal 2011 fourth quarter and year — increasing by $367,000, or 26.16%, and $1,853,000, or 39.4%, respectively, compared with the same periods in fiscal 2010. Gross profit as a percentage of net sales remained essentially unchanged at approximately 21% percent for the fiscal year, despite initiatives noted above to reduce the company’s manufacturing expenses.

Highway Holdings produces a wide variety of high-quality products for blue chip original equipment manufacturers — from simple parts and components to sub-assemblies and finished products. Highway Holdings’ administrative offices are located in Hong Kong, and its manufacturing facilities are located in Shenzhen in the People’s Republic of China.

Yongye International Inc. (YONG) stock soars after major investment

Tuesday, May 31st, 2011

Yongye International Inc. (Nasdaq: YONG) U.S.-listed shares rose 51.7% to $5.69 after the Chinese reverse-merger company announced a $50-million investment from Morgan Stanley’s Asian private-equity unit. Volume for the stock totaled nearly 8.5 million shares, or about seven times its full-day average.

Yongye intends to use the proceeds from this investment for capacity expansion, repayment of commercial bank debt, working capital, and general corporate purposes.

Yongye Chief Executive Officer, Zishen Wu commented, “We are pleased that MSPE Asia, one of the leading private equity investors in the region, has decided to make a significant investment in our company. Yongye and MSPE Asia have structured a long-term cooperation based on our mutual belief in the strong prospects for our products and nationwide distribution network.”

Wu continued, “Specifically, we are providing multi-year profit commitments to MSPE Asia which, upon their achievement, results in up to a $15.00-per-share conversion price for the convertible preferred stock we are issuing. This investment will assist us in strengthening our balance sheet and positioning us to meet the growing demand for our Shengmingsu agricultural nutrient products.”

Yongye International is a leading agricultural nutrient company headquartered in Beijing, with its production facilities located in Hohhot, Inner Mongolia. Yongye produces and markets two lines of organic nutrient products: a liquid nutrient product which is sprayed on plants and a powder nutrient product which is added to animal feed.