China Investment Daily Report

China Stocks Weekly Recap 3/29-4/1: LLEN rocketed for the week and set a fresh 52-week high



China 100 Stock Index closes 1,029.04, DOWN down -7.88 (0.76%). Longtop Financial Technologies Limited (LFT) leads winners up +3.93 (13.00%). A-Power Energy Generation Systems(APWR) was the biggest loser of the week -2.08 (17.36%).

 
 

Top Stock Gainer LFT Longtop Financial Technologies Limited
Top Stock Gainer APWR A-Power Energy Generation Systems, Ltd.
This week from March 29 through April 1, the China 100 Stock Index comprising 100 US-listed China-based companies, decreased by 0.76% while its sub-indexes, the Panda Index comprised of 27 large capitalization companies increased by 1.12% led by Longtop Financial Technolgies (LFT), the Tiger Index comprised of 49 small or mid capitalization companies shed 2.09% led by Airmedia Group (AMCN), and the Dragon Index, comprised of 24 undervalued companies fell 0.09% led by China Organic Agriculture (CNOA).

Longtop Financial Technologies (LFT) reached a low at $30.22 this Monday following an 8-day continuous drop and became oversold. The stock started to rebound on Tuesday, advancing 13.00% with a close price at $3.93, above its 50-day moving average of $33.43. AirMedia Group (AMCN) last Thursday hit a new support at $5.81 and started to jump back since last Friday. Shares advanced 10.48% with total shares 1.11 million trading hands, representing a 4.76% of the float. Focus Media Holding (FMCN) this week showed upward momentum through Wednesday, but became overbought, slightly dropping 1.20% on Thursday. FMCN surged 7.00% for the week, closing at $18.04, and currently has a strong resistance located at $18.72.

L&L International Holdings (LLEN) rocketed 6.44% this week and set a fresh 52-week high of $12.63 this Tuesday. Since the company announced its impressive earnings results, LLEN has increased $3.34 or 37.57% with market capitalization adding $87 million. China Advanced Construction Materials (CADC) this week broke above both its 50-day and 200-day moving averages, up 6.11% for the week. CADC is a relatively thin volume stock with a 3-month average trading volume of 106,000 shares. On March 1, 2010, the company announced closing of its public offering of 2 million registered shares of common stock at a price of $4.60 per share. Roth Capital initiated coverage on China Advanced Construction Materials with a BUY rating on March 12, 2010. Following the announcement of closing a public offering, shares of the company reached a high of $5.69 on March 10, 2010 and gained 9.68% till end of this week.

Among big movers to the downside, A Power Energy Generation System (APWR), slumped 17.36% following lower than expected earnings results. Though the company reported increased revenues for the fourth quarter but the profit was decreased to a net loss of -$23.9 million from a net income of $10.0 million the same period a year ago. In the end of the week, APWR hit a 5-month low of $9.85 on nearly 3 times average trading volume. Total volume traded in two days after the earnings were released were 9.21 million shares, representing a 39.22% of the float. The stock’s support is currently located at $9.74. China Agritech (CAGC) also fell hard on earnings results, down 17.12% with a close price of $22.99 in the end of the week. Though the company had impressive revenues growth for the fourth quarter compared to the same period a year ago, the results were not this attractive comparing to the numbers of the previous quarter the same year—revenues and net income decreasing 23.4% and 226.9% respectively. Since the results were published, the stock has traded on 4.4 million shares, representing a 96.71% of the float. CAGC’s support is currently located at $22.20.

Telestone Technologies (TSTC) this Wednesday after the market closed released its positive 2009 fourth quarter and full year earnings but shares suffered a major pull back of 13.83%. TSTC closed at $15.08 per share in the end of the week, below its 50-day moving average, with trading volume of 2.98 million shares, representing a 45.56% of the float. The stock’s has a support located at $12.80. Shares of Rino International (RINO) dipped 9.60% for the week and most of the losses were driven by earnings results which were shy of analysts’ estimation. In the end of the week, RINO closed at $21.18, falling below its 50-day moving average of $21.95. The stock has a support of $20.27. For the fourth quarter, the company had revenues of $53.0 million versus consensus of $59.68 million, and EPS of $0.53 versus consensus of $0.55 per share. For the full year 2010, the company forecasts revenues to exceed $225 million versus analysts’ estimation on average of $241.43 million. China TransInfo Technology (CTFO) still suffered from an unattractive 2010 guidance this week with a loss of -8.36% for the week. Since the earnings and guidance were released, the stock has decreased by 19.42%. Shares are currently traded below both 50-day and 200-day moving averages. In the end of the week, CTFO closed at $6.47 per share and the stock has a support at $6.12.

TOP GAINERS
Longtop Financial Technologies Limited (LFT) 34.15 3.93 Stock Price Increase 3.93 / + 13.00%
AirMedia Group Inc. (AMCN) 6.49 0.62 Stock Price Increase 0.62 / + 10.56%
Focus Media Holding Ltd. (FMCN) 18.04 1.18 Stock Price Increase 1.18 / + 7.00%
L & L International Holdings (LLEN) 12.23 0.74 Stock Price Increase 0.74 / + 6.44%
China Advanced Construction Materials Group, Inc. (CADC) 5.21 0.30 Stock Price Increase 0.30 / + 6.11%
TOP LOSERS
A-Power Energy Generation Systems, Ltd. (APWR) 9.90 -2.08 Stock Price Decrease 2.08 / - 17.36%
China Agritech Inc. (CAGC) 22.99 -4.75 Stock Price Decrease 4.75 / - 17.12%
Telestone Technologies Corp. (TSTC) 15.08 -3.04 Stock Price Decrease 3.04 / - 16.78%
RINO International Corporation (RINO) 21.18 -2.25 Stock Price Decrease 2.25 / - 9.60%
China TransInfo Technology Corp. (CTFO) 6.47 -0.59 Stock Price Decrease 0.59 / - 8.36%

SEC Filings

Wednesday, March 31, 2010


 

China TransInfo Technology Corp. (CTFO) files 10-K - Annual report [Section 13 and 15(d), not S-K Item 405]. Revenues increased approximately $34.32 million, or 116.84% to approximately $63.69 million for the year ended December 31, 2009, from approximately $29.37 million in 2008. Approximately 105.79% of this increase is attributable to the increase in sales of our transportation products in 2009, which had approximately 196.96% increase year over year compared to 2008. Such increase mainly resulted from the successful execution of the Company’s major business since it started shifting to the transportation business in late 2007 and the rapidly developing market opportunities in the transportation information sector in China, as well as our consolidation of the financial results of UNISITS since September 2009. However, our Digital City and Land and Resource businesses in total experienced about 22.52% decrease compared to the same period of 2008 because we did not actively pursue Digital City and Land and Resource businesses during 2009 even though we believe these two businesses are still experiencing healthy development and growth in China. In addition, we believe that the overall sales increased as a result of the growing recognition of our brand name and technology. During 2009, the Company had been constantly offering new products and solutions to the market and was able to secure more contracts from recurring clients.

 

RINO International Corporation (RINO) files 10-K - Annual report [Section 13 and 15(d), not S-K Item 405]. Net sales increased by $53.3 million to $192.6 million or an increase of 38.3% for the year ended December 31, 2009, as compared to $139.3 million net sales for the year ended December 31, 2008. Such increase was driven by the stringent environmental regulation, which has significantly increased our product sales and service demand.

 

A-Power Energy Generation Systems, Ltd. (APWR) files 20-F - Annual and transition report of foreign private issuers [Sections 13 or 15(d)]. For the year ended December 31, 2009, total revenues amounted to $311.3 million, an increase of $46.4 million or 17.5%, from $264.9 million for the year ended December 31, 2008. For the year ended December 31, 2009, total revenues consists of $261.1 million from distributed power generation, $32.8 million from wind turbine business and $17.4 million from LICEG Ltd. This compares with $256.8 million from distributed power generation, nil from wind turbine business and $8.1 million from LICEG Ltd., for the year ended December 31, 2008. The increase in revenues from 2008 to 2009 was primarily due to revenue from our wind turbine business earned in 2009, in the amount of $32.8 million as no wind turbine revenue was earned in 2008. In December, 2009, the company sold a total of ten sets of wind turbines to Inner Mongolia Wulate Houqi Oriental Wind Power Company Ltd. (“Inner Mongolia”) and Rizhao Hengyuan Wind Power Company Ltd. (“Rizhao”).

 

China Agritech Inc. (CAGC) files NT 10-K - Notification of inability to timely file Form 10-K 405, 10-K, 10-KSB 405, 10-KSB, 10-KT, or 10-KT405. The Company could not complete the filing of its Annual Report on Form 10-K for the year ended December 31, 2009 due to a delay in obtaining and compiling information required to be included in the Company's Form 10-K, which delay could not be eliminated by the Company without unreasonable effort and expense. In accordance with Rule 12b-25 of the Securities Exchange Act of 1934, as amended, the Company will file its Form 10-K no later than the fifteenth calendar day following the prescribed due date.

 

Telestone Technologies Corp. (TSTC) files 10-K - Annual report [Section 13 and 15(d), not S-K Item 405]. Our revenue for the year ended December 31, 2009 was $71,879,000, representing an increase of approximately 103.46% from the prior year of 2008. Product sales for the year ended December 31, 2009 were $30,162,000, representing an increase of 76.06% from the prior year of 2008. Service sales for the year ended December 31, 2009 was $41,717,000, representing an increase of 129.25% from the prior year of 2008. The increase in our product sales is primarily due to the telecom carriers increasing their investments in 3G fixed assets. We benefited from ongoing transition from 2G to 3G technologies, with more opportunities for our equipment sales.

 

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China 100 Stock Index
The China 100 Stock Index closed Thursday, April 01, 2010:
1,029.12 7.92 Stock Price Decrease7.92 (0.76 %)
Longtop Financial Technologies Limited (LFT) led the Gainers closing 4/1/2010:
34.15 3.93 Stock Price Increase3.93 (13.00 %)

A-Power Energy Generation Systems, Ltd. (APWR) was the Index biggest loser closing 4/1/2010:
9.90 2.08 Stock Price Decrease2.08 (17.36 %)

 

China Large Cap Stock Index
The China Vesting Large Cap Stock Index (Panda) closed Thursday, April 01, 2010:
1,051.98 11.70 Stock Price Increase11.70 (1.12 %)
Longtop Financial Technologies Limited (LFT) led the Index closing 4/1/2010:
34.15 3.93 Stock Price Increase3.93 (13.00 %)

Yingli Green Energy Holding Co. Ltd. (YGE) was the Index biggest loser closing 4/1/2010:
12.76 0.43 Stock Price Decrease0.43 (3.26 %)

 

China Mid and Small Cap Stock Index
The China Vesting Small and Mid Cap Stock Index (Tiger) closed Thursday, April 01, 2010:
1,034.41 22.06 Stock Price Decrease22.06 (2.09 %)
AirMedia Group Inc. (AMCN) led the Index closing 4/1/2010:
6.49 0.62 Stock Price Increase0.62 (10.56 %)

A-Power Energy Generation Systems, Ltd. (APWR) was the Index biggest loser closing 4/1/2010:
9.90 2.08 Stock Price Decrease2.08 (17.36 %)

 

China Undervalued Stock Index
The China Vesting Undervalued Stock Index (Dragon) closed Thursday, April 01, 2010:
992.60 1.11 Stock Price Decrease1.11 (0.11 %)
NF Energy Saving Corp (NFEC) led the Index closing 4/1/2010:
3.99 0.22 Stock Price Increase0.22 (5.84 %)

China Organic Agricultr (CNOA) was the Index biggest loser closing 4/1/2010:
0.76 0.06 Stock Price Decrease0.06 (7.32 %)