![[image description]](http://www.chinavesting.com/images/stock_market_news/2010-05-25/euro-crash.jpg) International markets plunged once again on continuing fears that the growing European area sovereign debt crisis will derail the fragile world wide economic recovery. With all of the major European and Asian stock exchanges down significantly, only the U.S. markets managed to recover from sharper losses earlier in the day, rebounding to close at less than half a percent down on the day. The Chinese stock market also steered significantly lower today. Mounting speculation that the national government will increase its measures to prevent asset bubbles, while the European contagion potentially hangs over the struggling international recovery progress, weighed on the index. "A slowdown in Europe’s economy will “badly hurt” Chinese exports, limiting China’s ability to allow its currency to appreciate against the dollar," Pride Investment Group Ltd.’s Lewis Wan claimed in a Bloomberg Television interview earlier today. The China 100 Stock Index closed down 16.19, as stock prices decreased 1.92 %. The Panda China Large Cap Stock Index closed at 918.43 or 1.73%. The Tiger China Small and Mid Cap Stock Index lost 1.79 %. The Dragon China Undervalued Stock Index fell down 747.51 losing 2.43 %.
Top gainers in the China stock market included Acorn International, Inc. (ATV), up .16 points or plus 4.53%; China Shenghuo Pharma (KUN), up .03 points or plus 4.29%; NF Energy Saving Corp (NFEC), up .10 points or plus 3.45%; SinoHub, Inc. (SIHI), up .09 points or plus 3.44%; and Yuhe International, Inc. (YUII), up .23 points or plus 2.83%. The top losers in the market included China America Holdings, Inc. (CAAH) , down minus 13.04%; China INSOnline Corp. (CHIO), down .05 points or minus 10.64%; Yayi International (YYIN), down .18 points or minus 9.73%; China Shandong Industries, Inc. (CSNH), down .25 points or minus 9.26%; and China Kangtai Cactus Bio (CKGT), down .14 points or minus 8.48%. More stocks lost than gained in China Wednesday.
Shares of Acorn International, Inc. (ATV) gained more than 4% in Tuesday trading session to close at 3.69. This consumer products marketing company's gain followed days of drops after announcing a severe decline in first quarter net income as revenues plummeted. Acorn International is slightly off of the low of its fifty-two week range of 3.04 - 7.30.
Shares of China Shenghuo Pharma (KUN) rose more than 4% in Tuesday's session up to $0.73. Their first quarter report showed that revenues rose 17% year over year while gross profit margins rose about a third in the same time period. It sits at nearly the middle of its present fifty-two week range of 0.60 - 1.25.
Shares of NF Energy Saving Corp. (NFEC) rose more than 3% in the Tuesday session. First Quarter 2010 results showed that revenues gained 17% over the same period last year. At a close of $3.00 this stock sits at nearly the bottom of its fifty-two week range of 1.80 - 20.00.
Shares of SinoHub, Inc. (SIHI) rose more than 3% in the Tuesday session. The stock has been recovering off its recent lows since announcing that it would be presenting at the International PIPEs Conference 2010 in Shanghai. With a closing price of 2.71, it lies near the bottom of its current fifty-two week range of 2.05 - 5.70.
Shares of China America Holdings, Inc. (CAAH) plummeted by 13% Tuesday. The catastrophic drop came as a result of disappointing earnings results of a Net Loss for the First Six Months of Fiscal 2010 Narrowing to ($6,000). This compared to a relative Loss of ($669,000) in the Six Months Ended March 31, 2009.
Shares of China Shandong Industries, Inc. (CSNH) dropped by more than 9% in the Tuesday session. The company manufactures straw and wicker products, wooden handicraft products, indoor and outdoor wood furniture, office furniture, and Christmas gifts, and it exports its products to Europe, North America, and elsewhere in Asia. At a close of 2.45 the stock has pulled back 25% off its recent high of 3.29.
Shares of China Kangtai Cactus Bio. (CKGT) dropped by more than 8% Tuesday. The stock has continued to decline since earnings were less robust than anticipated last week, despite the fact that the drug maker's revenues reported rose by more than sixty-six percent and adjusted net income was up by more than twenty percent. It sits at the middle of its fifty-two week range of 0.67 - 3.00.
| TOP GAINERS |
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Acorn International, Inc. (ATV) |
3.69 |
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0.16 / + 4.53% |
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China Shenghuo Pharma (KUN) |
0.73 |
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0.03 / + 4.29% |
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NF Energy Saving Corp (NFEC) |
3.00 |
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0.10 / + 3.45% |
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SinoHub, Inc. (SIHI) |
2.71 |
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0.09 / + 3.44% |
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Yuhe International, Inc. (YUII) |
8.37 |
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0.23 / + 2.83% |
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| TOP LOSERS |
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China INSOnline Corp. (CHIO) |
0.42 |
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0.05 / - 10.64% |
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Yayi International (YYIN) |
1.67 |
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0.18 / - 9.73% |
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China Shandong Industries, Inc. (CSNH) |
4.90 |
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0.50 / - 9.26% |
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China America Holdings, Inc. (CAAH) |
0.02 |
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0.00 / - 8.70% |
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China Kangtai Cactus Bio (CKGT) |
1.51 |
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0.14 / - 8.48% |
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 A-Power Energy Generation Systems, Ltd. (APWR) files 424B3 - Prospectus [Rule 424(b)(3)]. This Prospectus Supplement No. 3 amends and supplements the prospectus dated December 8, 2009, or the Prospectus, which forms a part of our Registration Statement on Form F-3 (Registration Statement No. 333-161983). This Prospectus Supplement No. 2 should be read in conjunction with the Prospectus, Prospectus Supplement No. 1 dated January 13, 2010, or Prospectus Supplement No. 1, and Prospectus Supplement No. 2 dated March 2, 2010, or Prospectus Supplement No. 2. If there is any inconsistency among the information in the Prospectus, Prospectus Supplement No. 1, Prospectus Supplement No. 2 and this prospectus supplement, you should rely on the information in this prospectus supplement.
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 Cninsure Inc. (CISG) files 6-K - Report of foreign issuer [Rules 13a-16 and 15d-16]. Total net revenues: RMB282.0 million (US$41.3 million), representing an increase of 30.6% from the corresponding period of 2009. Income from operations: RMB72.7 million (US$10.6 million), representing an increase of 58.3% from the corresponding period of 2009. Operating margin was 25.8% for the first quarter of 2010, compared to 21.3% for the corresponding period of 2009. Net income attributable to the Company’s shareholders: RMB67.3 million (US$9.9 million), representing an increase of 47.9% from the corresponding period of 2009, which exceeded the previous guidance of approximately 30% year-over-year growth. Net margin was 23.9% for the first quarter of 2010, compared to 21.1% for the corresponding period of 2009. Basic and diluted net income per American Depositary Share (“ADS”): RMB1.476 (US$0.216) and RMB1.429 (US$0.209), respectively, representing an increase of 47.9% and 43.3%, respectively, from the corresponding period of 2009.
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A-Power Energy Generation Systems, Ltd. (APWR) files 424B3 - Prospectus [Rule 424(b)(3)]. This prospectus relates to the registration of 7,210,451 of common shares, 2,099,823 Series A Warrants to purchase common shares and 789,145 Series B Warrants to purchase common shares (together, the “warrants”). The common shares and warrants are being registered pursuant to the requirements of a registration rights agreement dated January 21, 2010 among us and the holders of the common shares and warrants, which requires us to register their shares and warrants to permit such holders to sell common shares and warrants or, upon exercise of the warrants, to sell the common shares underlying the warrants from time to time in the public market. |
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 Biostar Pharmaceuticals, Inc. (BSPM) files 8-K - Current report. Biostar Pharmaceuticals, Inc. (BSPM), the Xianyang-based manufacturer of a leading over-the-counter Hepatitis B medicine, Xin Aoxing Oleanolic Acid Capsule ("Xin Aoxing"), and a variety of pharmaceutical products and medical nutrients, today announced that it has commenced assembly of its production line for its proprietary Zushima product. Biostar completed Chinese Military Drug Administration clinical trials for Zushima Analgesic Aerosol Spray (“Zushima”) in April through the Chinese No. 4 Military Medical University. Zushima is a traditional Chinese herbal product used to relieve pain through a topical application to affected areas or closed wounds. Zushima spray can also be used in the treatment of certain rheumatic conditions. The product was classified as “Specially Needed Drug” by the Chinese Military Drug Administration, which will also be available to the public. Biostar is forecasting $2.0 million in initial Zushima sales and a $6.0 million contribution to revenues during 2011, with gross margins of 55.0%.
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 JA Solar Holdings Co., Ltd. (JASO) files 6-K - Report of foreign issuer [Rules 13a-16 and 15d-16]. NOTICE IS HEREBY GIVEN that the annual general meeting of shareholders of JA Solar Holding Co., Ltd. (the “Company”) will be held on June 30, 2010 at 10:30 a.m., Beijing time, at the conference room of the Company, No. 36, Jiang Chang San Road, Zhabei, Shanghai, the People’s Republic of China, for the following purposes: To receive and consider the audited financial statements and the Reports of the Chairman and Chief Executive Officer for the year ended December 31, 2009. To elect Peng Fang as a director of the Company, and authorize the board of directors to fix his remuneration. To elect Yuwen Zhao as a director of the Company, and authorize the board of directors to fix his remuneration. To transact such other business as may properly come before the meeting or any adjournment or postponement thereof.
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 China Shenghuo Pharma (KUN) files 8-K - Current report. China Shenghuo Pharmaceutical Holdings, Inc. (KUN), which is engaged in the research, development, manufacture, and marketing of pharmaceutical, nutritional supplement and cosmetic products in the People’s Republic of China ("PRC"), today reported unaudited financial results for the first quarter ended March 31, 2010. First Quarter 2010 Financial Highlights: Total revenues increased to $7.9 million for the first quarter of 2010, representing 17% year-over-year growth. Gross margin for the first quarter of 2010 increased to $5.83 million, as compared to $4.47 million for the same period of 2009. Net cash provided by operations increased to $2.02 million from $0.89 million in the same period of 2009. Net income attributable to stockholders increased to $2,355 for the first quarter of 2010, as compared to net loss of $2,961,272 for the same period of 2009.
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 Longtop Financial Technologies Limited (LFT) files 6-K - Report of foreign issuer [Rules 13a-16 and 15d-16]. On May 24, 2010, Longtop Financial Technologies Limited (LFT) issued a press release regarding its unaudited financial results for the fiscal fourth quarter and fiscal year ended March 31, 2010. The Company’s press release is furnished as Exhibit 99.1.
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 Solarfun Power Holdings Co. Ltd. (SOLF) files 20-F - Annual and transition report of foreign private issuers [Sections 13 or 15(d)]. The following selected consolidated financial data, except for “Other Operating Data,” have been derived from our audited consolidated financial statements, which have been audited by Ernst & Young Hua Ming, an independent registered public accounting firm. The report of Ernst & Young Hua Ming on our consolidated financial statements as of December 31, 2008 and 2009 and for the years ended December 31, 2007, 2008 and 2009 is included elsewhere in this annual report on Form 20-F.
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 US China Mining Group Inc. (SGZH) files 8-K - Current report. On May 19 2010, Songzai International Holding Group, Inc. (the “Company”) entered into an Asset Purchase Agreement (“Purchase Agreement”) with Erdos City Bayinmengke Liujiaqu Coal Co., Ltd., a limited liability company formally incorporated under the laws of the People’s Republic of China (the “Seller”), Erdos City Bayinmengke Investment Group Co., Ltd. (“ECBIG”), Shan Li (“Li”) and Liying Wang (“Wang” and together with ECBIG and Li, the “Equity Holders”). The Purchase Agreement provides for the sale to the Company of the Erdos City Dongsheng District Liujiaqu Coal Mine (“Liujiaqu Coal Mine”) in the Inner Mongolia region of the People’s Republic of China from the Seller. Consideration for the Liujiaqu Coal Mine am amounted to $30M USD and 10M shares of common stock, which may be reduced if the average closing price of the common stock over the 10-day period ending on the day prior to the closing date is greater than $7.00 per share. In addition, the Seller will receive 30% of the net profits from the operation of the Liujiaqu Coal Mine.
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 Focus Media Holding Ltd. (FMCN) files 6-K - Report of foreign issuer [Rules 13a-16 and 15d-16]. Highlights for First Quarter 2010:
Total net revenue for the first quarter of 2010 was $124.9 million, of which: Aggregate net revenue from the LCD display network, in-store network and poster frame network was $82.6 million, which exceeded by approximately 5% the mid-point of the Company’s guidance range of $78-80 million and; Aggregate net revenue from the movie theater and traditional outdoor billboard network and Internet advertising services was $42.3 million, which exceeded by approximately 11% the mid-point of the guidance range of $37-39 million. GAAP net loss attributable to Focus Media was $1.0 million, compared to net loss attributable to Focus Media of $5.7 million for the first quarter of 2009, and net loss attributable to Focus Media of $53.0 million for the fourth quarter of 2009.
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 China Organic Agricultr (CNOA) files 8-K - Current report. 2010 First Quarter Key Financial Items: Revenue of $32.4 million represents a decrease from $36.7 million in the first quarter of 2009. Gross profit was $8.2 million, compared to $8.4 million in the first quarter of 2009. Net income attributable to CNOA shareholders in the first quarter of 2010 was $3.0 million. Fully diluted earnings per share in the first quarter of 2010 was $0.04 as compared to $0.05 in the first quarter of 2009. On March 23, 2010, the Company acquired 60% of the stock of Changbai Eco-Beverage Co., Ltd. for $10.3 million.
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 The9 Limited (NCTY) files 6-K - Report of foreign issuer [Rules 13a-16 and 15d-16]. The9 Limited (NCTY), an online game developer and operator in China, today announced that it has entered into a definitive agreement with Webzen, Inc. ("Webzen") for the renewal of The9’s exclusive license of publishing and operating Webzen’s Soul of The Ultimate NationTM ("SUN"), a 3D massively multiplayer online role playing game ("MMORPG"), in China. The SUN China license will be extended for three more years commencing from the expiration date of the term of the current license on May 23, 2010.
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 Shanda to Report First Quarter 2010 Financial Results on June 2, 2010 (Beijing/Hong Kong Time). Shanda Interactive Entertainment Limited (SNDA), or Shanda, a leading interactive entertainment media company in China, will announce its unaudited financial results for the first quarter 2010 ended March 31, 2010 on Wednesday, June 2, 2010 Beijing/Hong Kong time. The earnings release will be available on Shanda's corporate website at http://www.snda.com. Shanda's management team will host a conference call on Wednesday, June 2, 2010 at 10:30 am (Beijing/Hong Kong time) / Tuesday, June 1, 2010 at 10:30 pm (Eastern Time) to present an overview of the company's financial performance and business operations.
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 Mindray Medical to Present at 2010 Citi Global Health Care Conference. Mindray Medical International Limited (NYSE:MR - News), a leading developer, manufacturer and marketer of medical devices worldwide, today announced that it will present at the 2010 Citi Global Health Care Conference. The 2010 Citi Global Health Care Conference will take place at the Hilton Hotel in New York from Wednesday, May 26th to Thursday, May 27th and will be attended by Mr. Ronald Ede, Mindray's chief financial officer, and Ms. Winnie Liang, Mindray's manager of investor relations. Mr. Ronald Ede will deliver a presentation at 11:00am EDT on May 26th, 2010.
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Biostar Pharmaceuticals, Inc. Begins Assembly of New Production Line. Biostar Pharmaceuticals (BSPM) says it has commenced assembly of its production line for its proprietary Zushima product. It intends to complete construction in early August, which will have an annual capacity of $30.0 million. It plans to obtain formal approval from the Military Food and Drug Administration and a Good Manufacturing Process [GMP] certification, which the company expects to receive by September 2010. This will enable a formal launch of Zushima to the Chinese military, civil hospitals and pharmacies in Shaanxi province. |
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 Yucheng Announces Resignation of Board Member. Yucheng Technologies Limited (YTEC) today announced the resignation from its board of directors of Mr. Chi Wei Joong, who had been serving on Yucheng's board of directors since 2007. The resignation took effect on May 24, 2010. Yucheng will not be filling the vacancy created by Mr. Joong's resignation.
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 Trina Solar Announces First Quarter 2010 Results. First Quarter 2010 Financial and Operating Highlights: Solar module shipments were approximately 193 MW, compared to the Company's previous guidance of 180 MW to 190 MW, representing an increase of 17.9% sequentially and 295.5% YoY. Net revenues were $336.8 million, an increase of 7.5% sequentially and 155.0% YoY. Gross margin was 30.9%, above the Company's guidance of 26% to 28%, compared to 32.6% in the fourth quarter of 2009 and 17.2% in the first quarter of 2009. Operating income and operating margin were $76.0 million and 22.6%, respectively, compared to $64.4 million and 20.6%, respectively, in the fourth quarter of 2009. Net income was $44.5 million, which includes a net foreign currency exchange loss of $14.5 million, compared to $48.8 million in the fourth quarter of 2009. Earnings per fully diluted ADS were $0.66, which includes impact of a net foreign currency exchange loss of $0.21 per fully diluted ADS, compared to $0.74 in the fourth quarter of 2009
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|  | The China 100 Stock Index closed Tuesday, May 25, 2010:
827.55  16.05 (1.90 %) | | | Acorn International, Inc. (ATV) led the Gainers closing 5/25/2010:
3.69  0.16 (4.53 %)
| | | China INSOnline Corp. (CHIO) was the Index biggest loser closing 5/25/2010:
0.42 0.05 (10.64 %)
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| | The China Vesting Large Cap Stock Index (Panda) closed Tuesday, May 25, 2010:
918.46 16.16 (1.73 %) | | | Chunghwa Telecom Co. Ltd. (CHT) led the Index closing 5/25/2010:
18.10 0.20 (1.12 %)
| | | Yingli Green Energy Holding Co. Ltd. (YGE) was the Index biggest loser closing 5/25/2010:
8.90 0.50 (5.32 %)
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| | The China Vesting Small and Mid Cap Stock Index (Tiger) closed Tuesday, May 25, 2010:
817.59 14.95 (1.80 %) | | | Acorn International, Inc. (ATV) led the Index closing 5/25/2010:
3.69 0.16 (4.53 %)
| | | China Direct Industries, Inc. (CDII) was the Index biggest loser closing 5/25/2010:
1.28 0.10 (7.25 %)
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| | The China Vesting Undervalued Stock Index (Dragon) closed Tuesday, May 25, 2010:
748.51 18.03 (2.35 %) | | | China Shenghuo Pharma (KUN) led the Index closing 5/25/2010:
0.73 0.03 (4.29 %)
| | | China INSOnline Corp. (CHIO) was the Index biggest loser closing 5/25/2010:
0.42 0.05 (10.64 %)
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