China, the biggest user of cooking oil has directed state owned trading companies to seek supplies of Soybean oil from Brazil and the US as it maintains an embargo on imports from Argentina. The directive has come from the Ministry of Commerce which has told three companies including Cofco Ltd to source supplies from these countries instead of Argentina. Soybeans in Chicago have increased by 5.5% since the start of April amidst speculation that China will increase imports of Soybean.
L&L International Holdings (LLEN) lead the charge of the bulls gaining an impressive 4.86% to close the day at $11.01. The stock is facing a resistance at $14 in the short term. The company is a major player in the energy markets in China. It is involved in operating coal mine and coal washing facilities in China. The company has announced that it will exceed the previously provided guidelines in March 2010 which has generated a lot of stir in the stock prices.
China Shandong Industries (CSNH) also saw an upward movement registering a 1.66% change to close the day at $2.45. The company is into the field of straw wicker products, wooden crafts and solid wooden furniture. The company has filed S-1 registration statement with the Securities and Exchange Commission for a proposed public offering of its common stock. The proceeds from the offerings will be used by the company to set up a high end production line for manufacturing latest furniture.
China Bak Battery (CBAK) also registered a 1.47% change to close at $2.07. The company is involved in manufacturing and distributing various lithium ion rechargeable batteries. The stock is facing a resistance at the level of $2.04. Making a remarkable entry at the fourth position in the list of top gainers was HQ Sustainable Maritime Industries (HQS). The stock gained 0.69% to end the day at $5.84. The company is a leading producer of functional Tilapia Biomass, including fish and healthcare products. The company will be announcing the re financial results for the first quarter ended March 31 2010 on May 10 2010.
Yanglin Soybean (YSYB) also found itself in the list of daily gainers at the fifth position although there was no change in the price of the stock. The company is the leading producer of Soybean oil and products in china. The company has reported an increase in net income to $44.91 million for the year ended December 31 2009 which is an impressive figure compared to $9.9 million for the year ended December 31 2008.
While the Bulls continued to charge, the bears also had a busy day with the news of crisis in Europe pouring in. Air Media Group (AMCN) registered the maximum losses for the day losing around 12.14% to close the day at $5.50. The stock has a support level at $5. The company is a leading operator of out of home advertising platforms in China.
China Agritech (CAGC) continued its bear run in the market shedding around 9.71% to end the day at $14.60. E House China Holdings (EJ) also ended the day on red losing around 9.29% to close the day at $14.75. JA Solar Holdings (JASO) also lost around 8.96% to end the day at $6.30. SORL Auto Parts also found itself in the list of losers at the fifth position losing around 8.75% to close at $10.22.
| TOP GAINERS |
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L & L International Holdings (LLEN) |
11.01 |
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0.51 / + 4.86% |
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China Shandong Industries, Inc. (CSNH) |
4.90 |
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0.08 / + 1.66% |
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China BAK Battery, Inc. (CBAK) |
2.07 |
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0.03 / + 1.47% |
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HQ Sustainable Maritime Industries, Inc. (HQS) |
5.84 |
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0.04 / + 0.69% |
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NF Energy Saving Corp (NFEC) |
3.70 |
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0.00 / 0.00% |
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| TOP LOSERS |
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AirMedia Group Inc. (AMCN) |
5.50 |
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0.76 / - 12.14% |
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China America Holdings, Inc. (CAAH) |
0.03 |
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0.00 / - 10.00% |
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China Agritech Inc. (CAGC) |
14.60 |
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1.57 / - 9.71% |
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E-House (China) Holdings Limited (EJ) |
14.75 |
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1.51 / - 9.29% |
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JA Solar Holdings Co., Ltd. (JASO) |
6.30 |
 |
0.62 / - 8.96% |
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AirMedia Group Inc. (AMCN) files 6-K - Report of foreign issuer [Rules 13a-16 and 15d-16]. AIRMEDIA GROUP INC.:“Despite the usual seasonality in the first quarter of 2010, we were still able to achieve record total revenues of US$48.8 million with our core business continuing to grow quarter-over-quarter, which brought about a good start to the Company’s recovery in 2010. Although we are facing some temporary challenges on our gas station advertising network, our existing business in the air sector continues to see strong revenue growth in the second quarter and the rest of the year, which enables us to give strong annual guidance for 2010. Advertisers’ strong demand and visibility for the full year also give us strong confidence that the Company will break even no later than the third quarter of this year,” commented Herman Guo, chairman and chief executive officer of AirMedia.
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Guangshen Railway Co. Ltd. (GSH) files 6-K - Report of foreign issuer [Rules 13a-16 and 15d-16]. GUANGSHEN RAILWAY COMPANY LIMITED: In accordance with the Articles of Association of the Company, Guangzhou Railway (Group) Company (“GR Company”), a shareholder interested in 37.12% of the shares of the Company, has sent written notices to the Company notifying that it intended to remove Mr. Cao Jianguo as director of the fifth session of the Board and Mr. Yao Muming as supervisor of the fifth session of Supervisory Committee due to changes in their management function, and to appoint Mr. Chen Min as director of the fifth session of the Board and Mr. Xu Ling as supervisor of the fifth session of the Supervisory Committee.
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Lihua International, Inc. (LIWA) files 424B3 - Prospectus [Rule 424(b)(3)]. LIHUA INTERNATIONAL, INC.:We believe that we are well positioned to continue capturing further market share in the copper wire industry. Our copper wire from recycled copper and CCA are increasingly being accepted as alternatives to pure copper wire in the domestic Chinese market. As a result, Our sales and net income have increased substantially during the last three years. We generated sales of $161.5 million, $50.0 million and $32.5 million for the years ended December 31, 2009, 2008 and 2007, respectively. We achieved net income of $16.8 million, $11.7 million and $7.7 million for the years ended December 31, 2009, 2008 and 2007, respectively. In 2009, we had a non-cash charge of $8.8 million, which resulted from the change in the fair value of the warrants issued to investors in conjunction with the Company’s issuance of convertible Preferred Stock in October 2008. Excluding the impact of this non-cash charge, non-GAAP net income for 2009 was $25.6 million, up 118.7% from the same period last year.
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Synutra International Inc. (SYUT) files 8-K - Current report. SYNUTRA INTERNATIONAL, INC.:Synutra International Inc. (Nasdaq: SYUT) is a leading infant formula company in China. It principally produces, markets and sells its products under the "Shengyuan," or "Synutra," name, together with other complementary brands. It focuses on selling premium infant formula products, which are supplemented by more affordable infant formulas targeting the mass market as well as other nutritional products and ingredients. It sells its products through an extensive nationwide sales and distribution network covering 30 provinces and provincial-level municipalities in China. As of December 31, 2009, this network comprised over 540 distributors and over 1000 sub-distributors who sell Synutra products in over 67,000 retail outlets. Additional information about Synutra International, Inc. can be found at www.synutra.com.
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E-House to Report First Quarter 2010 Financial Results on May 13, 2010. E-House (China) Holdings Limited ("E-House") (NYSE: EJ) is China's leading real estate services company with a nationwide network covering more than 105 cities. E-House offers a wide range of services to the real estate industry, including primary sales agency, secondary brokerage, information, consulting, advertising, online and investment management services. The real estate information, consulting, advertising and online services are offered through E-House's majority owned subsidiary, China Real Estate Information Corporation ( CRIC). E-House has received numerous awards for its innovative and high-quality services, including "China's Best Company" from the National Association of Real Estate Brokerage and Appraisal Companies and "China Enterprises with the Best Potential" from Forbes
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LDK Solar to Report First Quarter 2010 Financial Results on May 10, 2010. LDK Solar Co., Ltd. (NYSE: LDK) is a leading vertically integrated manufacturer of photovoltaic (PV) products and the world's largest producer of multicrystalline wafers. LDK Solar manufactures polysilicon, mono and multi crystalline ingots, wafers, modules, and engages in project development activities in selected segments of the PV market. Through its broad product offering of mono and multi crystalline solar wafers and modules, LDK Solar provides its customers with a full spectrum of solutions. LDK Solar's headquarters and manufacturing facilities are located in Hi-Tech Industrial Park, Xinyu City, Jiangxi Province in the People's Republic of China.
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Longtop Financial Technologies Limited to Release Financial Results on May 24, 2010 for the Quarter and Fiscal Year Ended March 31, 2010. Longtop Financial Technologies Limited:Longtop is the highest ranked Chinese financial technology provider on the Global FinTech 100 survey of top technology partners to the financial services industry. Independent research firm IDC has also named Longtop the No.1 market share leader in China's Banking IT solution market and the No.2 market share leader in China's Insurance IT solution market in calendar year 2008. Longtop Financial Technologies Limited ("Longtop") (NYSE: LFT), today announced that it will release financial results for the quarter and fiscal year ended March 31, 2010, on May 24, 2010 (US Eastern Time), before the market opens.Longtop's senior management team will host a conference call and audio web cast at 8:00 am US Eastern Time/ 5:00 am U.S. Pacific Time/ 8:00 pm Beijing/Hong Kong time on May 24, 2010.
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L & L Energy Announces Fiscal 2010 Results to Exceed Previously Announced Guidance. L & L Energy, Inc.:Management believes revenues and earnings would exceed the previously provided guidance released in March 2010. Management said that it expects fiscal 2010 annual revenue ended on April 30, 2010 to be higher than $108.1 million. The Company also believes net income would exceed the previously announced $28.1 million, or $0.94 EPS, on a GAAP basis, subject to final audit.
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Solarfun to Participate in 2010 SNEC PV Power Expo. Solarfun:Solarfun Power Holdings Co., Ltd. ("Solarfun" or the "Company") (Nasdaq: SOLF), a vertically integrated manufacturer of silicon ingots and photovoltaic ("PV") cells and modules in China, will exhibit its products at the Shanghai New Energy Committee ("SNEC") 4th International PV Power Expo in Hall W4, Booth T4020 at the International Expo Center in Shanghai, China, from May 5 to 7, 2010
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 |  | The China 100 Stock Index closed Tuesday, May 04, 2010: 962.52 39.83 (3.97 %) |  |  | L & L International Holdings (LLEN) led the Gainers closing 5/4/2010: 11.01 0.51 (4.86 %)
|  |  | AirMedia Group Inc. (AMCN) was the Index biggest loser closing 5/4/2010: 5.50 0.76 (12.14 %)
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 |  | The China Vesting Large Cap Stock Index (Panda) closed Tuesday, May 04, 2010: 1,008.55 41.50 (3.95 %) |  |  | New Oriental Edu & Tech ADR (EDU) led the Index closing 5/4/2010: 94.44 0.67 (0.70 %)
|  |  | E-House (China) Holdings Limited (EJ) was the Index biggest loser closing 5/4/2010: 14.75 1.51 (9.29 %)
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 |  | The China Vesting Small and Mid Cap Stock Index (Tiger) closed Tuesday, May 04, 2010: 971.78 42.69 (4.21 %) |  |  | L & L International Holdings (LLEN) led the Index closing 5/4/2010: 11.01 0.51 (4.86 %)
|  |  | AirMedia Group Inc. (AMCN) was the Index biggest loser closing 5/4/2010: 5.50 0.76 (12.14 %)
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 |  | The China Vesting Undervalued Stock Index (Dragon) closed Tuesday, May 04, 2010: 895.02 32.55 (3.51 %) |  |  | China Shandong Industries, Inc. (CSNH) led the Index closing 5/4/2010: 4.90 0.08 (1.66 %)
|  |  | China America Holdings, Inc. (CAAH) was the Index biggest loser closing 5/4/2010: 0.03 0.00 (10.00 %)
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