Despite Europe’s debt crisis concerns, today, a general optimism from traders was found after receiving positive economic data in the United States. Good reports of home and auto sales in the US were announced on Wednesday. The US economic data boosted global stock markets to a rally, The London stock market jumped 1.68 percent, Frankfurt gained 1.78 percent and Paris won 2.27 percent. Asia markets also surged, with Hong Kong gaining 1.62 percent and Tokyo soaring by 3.24 percent.
As a result most stocks closed higher for a second day. Always wanting to ruin a good party, oil prices jumped up more than 2.0% on a reported expansion US drilling bans. Although, caution from investors is expected to continue as analysts said, further clarification from the US economic figures and the inventories report is waited as there is still volatility and uncertainty in the markets.
The robust economic data had also an effect on the China 100 stock index, jumping 3.12 points, or 0.36%, to finish at 861.44 today. The Panda China Large Cap Stock Index gained 0.54%. The Tiger China Small & Mid Cap Stock Index gained 0.68% to 858.46. Not so the Dragon China Undervalued Stock Index that tumbled 0.54%.
After two days in the top 5 losers list, Yayi International (YYIN) heads the list of today’s gainers, it won 9.68% to close at 1.70 per share. Yayi, The leader of premium goat milk formula products for infants, toddlers, young children, and adults in China, today announced the expansion of its executive team with the addition of Mr. Bao Zhou as Marketing Director.
Solarfun Power Holdings Co. Ltd. (SOLF) [7.50, 0.53, +7.60%] announced today that it will launch its new "SolarIris" line of building integrated photovoltaic ["BIPV"] modules at the International Solar ["Intersolar"] Europe Conference in Germany, from June 7 to 11, 2010. With more than 1,800 exhibitors and 60,000 visitors expected, Intersolar is one of the biggest solar-related trade shows in the world.
New Oriental Edu & Tech ADR (EDU) [95.44, 5.48, +6.09%] runs 270 schools in China, as well as online courses. It offers English and other foreign language courses, as well as other training. Its earnings growth dipped into negative territory late last year. But it bounced back last quarter, climbing 26%. Its sales growth has been more solid, ranging from 24% to 36% during the past three quarters.
RINO International Corporation (RINO) a Chinese wastewater treatment specialist that has recently announced plans for a huge plant expansion to handle anticipated continuing growth today is between the top 5 gainers list closing at 13.23 per share. Sohu.com Inc. (SOHU) an Internet company that provides news, information, video content, entertainment, and communication services in the People’s Republic of China also closed green today at 46.10 per share.
China 3C Group (CHCG) is the biggest loser today after performing poorly during May, today lost 8.33% to close at 0.33. Shares of Tongxin International, Ltd. (TXIC) are currently trading below their 50-day moving average of 6.96 and below their 200-day moving average of 8.37, today closed in the red at 4.55.
NF Energy Saving Corp (NFEC) is a China-based provider of integrated energy conservation solutions utilizing energy-saving equipment, today closed red at 2.68. China Organic Agriculture (CNOA) a distributor of agricultural products in China, including green rice, organic rice, soy beans, rice wine and other agricultural products also closed red today at 0.59.
Suntech Power Holdings (STP) a producer of solar power panels, announced on Thursday its first-quarter net income rose sharply, and raised its forecast for 2010 shipments by 4%, but the company's results were hurt by a decline in the value of the euro and an analyst said that would continue. Its share price fell 3.91% in today´s trading.
| TOP GAINERS |
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Yayi International (YYIN) |
1.70 |
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0.15 / + 9.68% |
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Solarfun Power Holdings Co. Ltd. (SOLF) |
7.50 |
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0.53 / + 7.60% |
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New Oriental Edu & Tech ADR (EDU) |
95.44 |
 |
5.48 / + 6.09% |
 |
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RINO International Corporation (RINO) |
13.23 |
 |
0.62 / + 4.92% |
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Sohu.com Inc. (SOHU) |
46.10 |
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2.10 / + 4.77% |
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| TOP LOSERS |
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China Shandong Industries, Inc. (CSNH) |
2.90 |
 |
3.00 / - 50.85% |
 |
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China America Holdings, Inc. (CAAH) |
0.02 |
 |
0.01 / - 26.83% |
 |
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China 3C Group (CHCG) |
0.33 |
 |
0.03 / - 8.33% |
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Tongxin International, Ltd. (TXIC) |
4.55 |
 |
0.40 / - 8.08% |
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NF Energy Saving Corp (NFEC) |
2.68 |
 |
0.21 / - 7.27% |
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China Organic Agricultr (CNOA) files 8-K - Current report. We are the predecessor independent registered public accounting firm for China Organic Agriculture, Inc. (the “Company”). We have read the Company’s disclosure set forth in Item 4.01 Changes in Registrant’s Certifying Accountants of the Company’s Current Report on Form 8-K dated June 1, 2010 (the “Current Report”) and are in agreement with the disclosures in the Current Report, insofar as it pertains to our firm, Aquavella, Chiarelli,
Shuster, Berkower & Co., LLP .
Sincerely,
/S/ AQUAVELLA, CHIARELLI, SHUSTER, BERKOWER & CO., LLP
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Origin Agritech Limited (SEED) files F-3/A [Amend][Cover] - Registration statement by foreign private issuers. Origin Agritech Limited (the "Company")
We are lawyers licensed and qualified to practice law in the British Virgin Islands. We have been asked to provide this legal opinion in connection with a Registration Statement on Form F-3, as amended, (the “Registration Statement”) under the Securities Act of 1933, as amended (the “US Securities Act”), with the Securities and Exchange Commission (the “SEC”). The Registration Statement relates to the proposed offer and sale by the Company from time to time, as set forth in the prospectus contained in the Registration Statement (the “Prospectus”) and as shall be set forth in one or more supplements to the Prospectus (each, a “Prospectus Supplement”), of an aggregate offering price of up to $150,000,000 of securities (the “Securities”) which may include any or all of the following: (i) ordinary shares of no par value of the Company (the “Ordinary Shares”); (ii) preferred shares of no par value of the Company (the “Preferred Shares”), (iii) warrants to purchase ordinary shares (the “Warrants”); and (iv) units comprised of Ordinary Shares, Warrants and/or Preferred Shares (the “Units”). Collectively, the Ordinary Shares, Warrants, Preferred Shares and Units are referred to as the “Securities".
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Origin Agritech Limited (SEED) files 6-K - Report of foreign issuer [Rules 13a-16 and 15d-16]. BEIJING, China--(BUSINESS WIRE)--June 3, 2010--Origin Agritech Limited (NASDAQ: SEED) (“Origin” or the “Company”), a vertically–integrated supplier of hybrid and genetically-modified crop seeds in China, announced it has acquired a 80.0% ownership stake in Shandong Kunfeng Biochemical Limited, a agricultural chemical producer in Shandong, China, for RMB 14.96M. The acquisition is a continuance of Origin’s corporate strategy to maximize its portfolio and focus on markets and segments where full synergies can be realized.
Following Origin’s divestiture of its minority stake in Biocentury Transgene, the company will utilize proceeds to invest in the developing agro-chemical industry. The chemical products are not only compatible with the genetically-modified (GM) crop seed products, but allow for significant cross-selling potential through Origin’s existing nationwide distributor network to 200 million small farms in China. The current global agro-chemical industry is roughly US $275 billion while the domestic Chinese market presents about US $13 billion market potential.
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China BAK CFO Interviewed by Dow Jones Investment Banker. SHENZHEN, China, June 3 /PRNewswire-Asia-FirstCall/ -- China BAK Battery, Inc. ("China BAK" or the "Company") (Nasdaq: CBAK), a leading global manufacturer of lithium-based battery cells, today announced that the Company's Chief Financial Officer, Mr. Jun Zou, was featured in a live video interview with Greg Millman of Dow Jones Investment Banker.
The interview covered the Company's success as the first Chinese company to go public via an alternative public offering and reverse merger in 2005 and its subsequent listing on the NASDAQ. During the interview, Mr. Zou explained that China BAK enjoys a strong support from local banks due to its standing as a leading manufacturer in Shenzhen and established credit history. He also addressed concerns regarding the Company's capital structure and discussed his strategy to turn around the Company by improving working capital, operating cash flow, and manufacturing cost.
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Suntech Reports First Quarter 2010 Financial Results. SAN FRANCISCO and WUXI, China, June 3 /PRNewswire-Asia/ -- Suntech Power Holdings Co., Ltd. (NYSE: STP), the world's largest crystalline silicon photovoltaic (PV) module manufacturer, today announced financial results for its first fiscal quarter ended March 31, 2010.
First Quarter 2010 Highlights
Total net revenues were $588.0 million in the first quarter of 2010,
representing 0.8% growth sequentially and 86.3% year-over-year
Total PV shipments increased 11% sequentially and 182% year-over-year
Gross profit margin for the core wafer to module business was 22.1% in
the first quarter of 2010
Consolidated gross profit margin was 19.5% in the first quarter of 2010
Net income attributable to holders of ordinary shares was $20.7 million,
or $0.11 per diluted American Depository Share (ADS). Each ADS
represents one ordinary share
Suntech increases 2010 annual shipment target from 1.25GW to 1.3GW,
which represents an 85% increase above 2009 total shipments
Suntech achieved 1.2GW of PV cell and module production capacity at the
end of the first quarter of 2010
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 |  | The China 100 Stock Index closed Thursday, June 03, 2010: 860.19 1.83 (0.21 %) |  |  | Yayi International (YYIN) led the Gainers closing 6/3/2010: 1.70 0.15 (9.68 %)
|  |  | China Shandong Industries, Inc. (CSNH) was the Index biggest loser closing 6/3/2010: 2.90 3.00 (50.85 %)
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 |  | The China Vesting Large Cap Stock Index (Panda) closed Thursday, June 03, 2010: 958.01 5.14 (0.54 %) |  |  | New Oriental Edu & Tech ADR (EDU) led the Index closing 6/3/2010: 95.44 5.48 (6.09 %)
|  |  | Suntech Power Holdings (STP) was the Index biggest loser closing 6/3/2010: 9.35 0.38 (3.91 %)
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 |  | The China Vesting Small and Mid Cap Stock Index (Tiger) closed Thursday, June 03, 2010: 858.46 5.81 (0.68 %) |  |  | RINO International Corporation (RINO) led the Index closing 6/3/2010: 13.23 0.62 (4.92 %)
|  |  | Tongxin International, Ltd. (TXIC) was the Index biggest loser closing 6/3/2010: 4.55 0.40 (8.08 %)
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 |  | The China Vesting Undervalued Stock Index (Dragon) closed Thursday, June 03, 2010: 757.88 9.40 (1.23 %) |  |  | Yayi International (YYIN) led the Index closing 6/3/2010: 1.70 0.15 (9.68 %)
|  |  | China Shandong Industries, Inc. (CSNH) was the Index biggest loser closing 6/3/2010: 2.90 3.00 (50.85 %)
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