Workers throughout China were given three consecutive days off last
week for the annual Mid-Autumn Festival, but the
vacation comes with a 2 day string attached. Two of those
days off are to be made up by working the Saturday and Sunday on either
end of the holiday. The give-and-take arrangement is then repeated
for the National Day holiday, with employees enjoying seven straight days
off (Friday through Oct. 7) except only three of those are official free
days. The mandatory holidays may be the only method to give workers
time off, given that companies largely ignore a law guaranteeing workers
15 days of paid vacation a year. The stock market in the U.S. certainly
didn't get any breaks.
For the week ending October 1st, the China Vesting 100 Stock Index closed
at 887.71 +13.27 (1.52%). China
Shandong Industries, Inc. led the gainers up +1.10
(34.38%). China America Holdings, Inc. fell to the opposite
end of the spectrum as the biggest loser last week down -20%
Biggest Gainers For The Week.
China Shandong
Industries, Inc. (CSNH) wrapped up the week with +34.38%
gain. No news came out of the company but we imagine that things
are probably going well with their underwriter Rodman & Renshaw.
AirMedia Group
Inc. (AMCN) had a great week up a staggering +27.35%.
The leading operator in Chinese advertising platforms operates digital
TV screens in 37 major airports, including 25 out of the 30 largest airports
in China. Just Thursday, they had announced that it renewed
a promising concession rights contract with China Southern Airlines
to operate digital TV screens on the airplanes of China Southern Airlines
for five years from October 1, 2010 to September 30, 2015.
China Education
Alliance Inc. (CEU) did well with a +19.63%
surge after announcing last week that the success of its first tutoring
service center will lead to the opening
of six new education centers throughout Beijing in the next six
months. Directors expect to consume a ballpark of $3 million over
the next half year on instructors, advertising, facilities and administrative
expenses and calculates to break even within a year before turning profitable
thereafter.
China-Biotics,
Inc. (CHBT), which recently had some short sellers attack the
company regained +15.55%. The company
recently presented
at the Jefferies 2010 Global SpecPharma and European Healthcare Conference.
The conference hosts nearly 100 public and private leading global pharmaceutical
companies within the areas of pharmaceuticals, biotech, generics and OTC.
This leader in research, development, marketing and distribution of probiotics
dietary supplements retails products sold over the counter mainly through
giant distributors to pharmacies in Shanghai, Jiangsu, and Zhejiang province.
Last but not least
with a +14.91% increase is Yuhe
International, Inc. (YUII). The company, a supplier of
day-old chickens raised for meat production, signed
a series of supply contracts between May and July with two suppliers
to purchase external eggs to be produced by 420,000 sets of parent breeders
at fixed prices of between RMB 1.45 and RMB 1.50 per egg.
The Company continues to foresee to achieve a total output of 150 million
broilers for 2010 and an output of 250 million broilers for 2011.
Biggest Losers For The Week
China America Holdings,
Inc. (CAAH) has the dubious distinction of leading the losers
this week down 20.00%.
Things aren't too bad considering the Company was the highest weekly gainer
these past two weeks in a row. With such a low stock price we may
have to exclude CAAH in the future from the gainers and losers list.
Asia Cork Inc.
(AKRK) was the second biggest loser this week down -8.70%.
The stock is down on almost no volume. It may be time to reassess whether
this company should be included in China Vesting. However, the stock's
valuation is undervalued.
For the week,
China Architectural Engineering, Inc. (CAEI) was down
-8.33%.
Just last month the developer of online MMORPGs games announced they had
appointed
Mr. Wing Lun Leung as chief executive officer and as a member of
the Company's board of directors. Shortly after, the company successfully
completed two closed beta tests for its upcoming online game titled "The
Warring States". Let's hope they'll have better luck with this new
CEO.
Tiens Biotech Group
USA Inc. (TBV) has a bad week losing -8.28%.
Last quarter, Tiens Biotech Group (USA), Inc. board of directors
appointed
a new Chairman, Chief Executive Officer and President of the Company, Mr.
Jinyuan Li, to fill the vacancy created by the Company's former
Chief Financial Officer, Manbo He. Warm up time is over, Li.
It's time to get things moving in the right direction.
3SBio (SSRX)
lost -7.85% this week. The biotechnology
company focused on researching and marketing biopharmaceutical products
announced last week that it has converted C$2.02
million (US$1.92
million) of a US$4.5 million debenture
convertible into Isotechnika Pharma Inc. common shares. Isotechnika
issued 13 million common shares at C$0.155 per common share to 3SBio,
representing an estimate 9% of the issued common shares of Isotechnika.