No doubt, the Chinese solar stocks in the China 100 Stock Index are the biggest winners today led by JA Solar Holdings (JASO), rocketed 9.70%. Following a shipment guidance issued by JA Solar, Solarfun Power Holdings (SOLF) too jumped 7.91%, followed by ReneSola (SOL), up 7.54%, Suntech Power Holdings (STP), up 6.36%, LDK Solar (LDK), up 4.14%, Trina Solar (TSL), up 3.49%, and Yingli Green Energy (YGE), up 1.85%. Most of the Chinese solar stocks have been showing their strength lately after analyst reports giving positive outlook for global demand for solar energy. In addition, today’s positive reactions showed by investors, Chinese solar stocks will definitely still be in the spotlight for the following quarters. Also read China Solar Stocks Heat Up.
JA Solar Holdings (JASO) announced raised shipment guidance for the first quarter 2010 and its shares surged 9.70% to close at $9.22 per share. Total shares traded in the end of day counted 40.63 million shares, nearly 35% of the float. The company projects first quarter shipment to exceed 265MW, above the high-end of its previous guidance of 215MW to 225MW given on February 11, 2010, based on current customer orders and product deliveries. Since breaking above its 50-day moving average on March 26, 2010, the stock has advanced 24.15% with a market capitalization up approximately $196 million. JASO are traded with a 52-week range between $2.80 and $6.95. Following JA Solar Holdings, Solarfun Power Holdings (SOLF) jumped 7.97% and closed at $8.58, breaking above a recent resistance of $8.00. Volume traded today totaled 4.5 million, 15.55% of the float. Since the stock advanced above its 50-day moving average on March 29, 2010, it has increased by 13.19% with a market capitalization adding 57.60 million.
ReneSola (SOL), another outstanding Chinese solar stock of the day, leaped 7.54% and reached a 36-week high of $6.58. The stock is now trading well above its rising 50-day moving average and its 200-day moving average. In the recent two weeks, SOL has roared up 31.2% with a market capitalization increasing by more than $130 million. The stock’s next resistance level would be at $6.73. Suntech Power Holdings (STP) zoomed up 6.36% to $14.89 on high volume of 7.10 million shares. The stock has a resistance level at its 200-day moving average.
Perfect World (PWRD), an online game developer in China, became oversold following a excessive loss in last few days and rebounded 5.59% in today’s trading. The stock reached a high of $38.39 and closed at $38.33 nearly its solid resistance level at 50-day moving average.
China Armco Metals (CNAM) today announced its wholly owned subsidiary, Armco & Metawise, has established a strategic partnership with TCG Commodity Management to source a number of high demand minerals as part of the company’s recent strategy to seek longer tem supply contracts for distribution in China. Shares of the company gave back yesterday’s gain, closing back to $8.50. CNAM recently is trading in a range between $8.00 and $10.00. Shares of China Agritech (CAGC) fell back from Monday’s rally with a loss of 5.12% on average volume, representing a 26.30% of the float. The stock has a solid support level at its rising 50-day moving average.
Shares of 3SBio (SSRX) broke below its 50-day moving average, down 5.03% on 88,000 volume, only 0.6% of the float. Shares of Synutra International (SYUT) came back from a new 52-week high of $23.77 set during yesterday’s session, closing at $22.28 with a loss of 3.88%. SYUT is a thin volume stock with a 3-month average trading volume of 33,000 shares, 0.23% of the float. The stock had a huge surge of 12.65% last Monday, closing at $22.53, on Roth Capital’s upgrade from Hold to Buy. Focus Media Holding (FMCN) gave back most of gains from last week and edged down 3.71% on less than average trading volume. The drop is more of a technical correction.
| TOP GAINERS |
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JA Solar Holdings Co., Ltd. (JASO) |
6.22 |
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0.55 / + 9.70% |
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Solarfun Power Holdings Co. Ltd. (SOLF) |
8.58 |
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0.63 / + 7.92% |
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ReneSola Ltd. (SOL) |
6.56 |
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0.46 / + 7.54% |
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Suntech Power Holdings (STP) |
14.89 |
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0.89 / + 6.36% |
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Perfect World Co., Ltd. (PWRD) |
38.33 |
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2.03 / + 5.59% |
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| TOP LOSERS |
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China Armco Metals, Inc. (CNAM) |
8.50 |
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0.53 / - 5.87% |
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China Agritech Inc. (CAGC) |
23.00 |
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1.24 / - 5.12% |
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3SBio (SSRX) |
11.34 |
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0.60 / - 5.03% |
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Synutra International Inc. (SYUT) |
22.28 |
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0.90 / - 3.88% |
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Focus Media Holding Ltd. (FMCN) |
17.13 |
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0.66 / - 3.71% |
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Wednesday, April 07, 2010
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 Fuqi International, Inc. (FUQI) files 8-K - Current report. On April 1, 2010, Fuqi International, Inc. (the “Company”) received, as expected, a notification letter dated April 1, 2010 from The Nasdaq Stock Market (“Nasdaq”) stating that the Company is no longer in compliance with Nasdaq Marketplace Rule 5250(c)(1), which requires timely filing of SEC periodic reports (the “Nasdaq Notification Letter”). The Nasdaq Notification Letter has no immediate effect on the listing or trading of the Company’s common stock on the Nasdaq Global Select Market.
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 Sinovac Biotech Ltd. (SVA) files 6-K - Report of foreign issuer [Rules 13a-16 and 15d-16]. BEIJING, April 6 /PRNewswire-Asia/ — Sinovac Biotech Ltd. (Nasdaq: SVA), a leading China-based vaccine manufacturer, announced today its unaudited financial results for the three-month and preliminary twelve-month periods ended December 31, 2009.
Financial Highlights:
· Sales for the fourth quarter increased 194% to $36.4 million
· Sales for the twelve-month period grew 81% to $84.2 million
· Operating income for the fourth quarter rose 449% to $17.1 million
· Operating income for the twelve-month period increased 162% to $40.8 million
· Net income attributable to shareholders for the fourth quarter rose 275% to $8.9 million, with diluted EPS of $0.21
· Net income attributable to shareholders for the full year 2009 grew 149% to $20.0 million, with diluted EPS of $0.46
· Cash and cash equivalents at December 31, 2009 were $75.0 million
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 China Unicom (Hong Kong) Limited (CHU) files 6-K - Report of foreign issuer [Rules 13a-16 and 15d-16]. China United Network Communications Corporation Limited (“CUCL”), a wholly-owned subsidiary of China Unicom (Hong Kong) Limited (the “Company”), has completed the issue of the first tranche of commercial paper for the year 2010 of an amount of RMB15 billion and the issue of the first tranche of promissory note for the year 2010 of an amount of RMB3 billion.
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Wednesday, April 07, 2010
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FUQI International Provides Update on Previously Announced Form 10-K Filing Delay; Receives Noncompliance Notice from Nasdaq. SHENZHEN, China, April 7 /PRNewswire-Asia/ -- FUQI International, Inc. (Nasdaq:FUQI - News) today provided updates relating to its March 16, 2010 press release that discussed the Company's preliminary fourth quarter 2009 financial results and potential restatements on previously issued quarterly financial statements for the first three fiscal quarters of 2009.
Mr. Yu Kwai Chong, Chairman and CEO, stated, "We truly appreciate your patience and are working diligently on a plan to further strengthen our internal financial reporting controls and remediate any issues surrounding our financial restatements. |
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 JA Solar Raises Shipment Guidance for the First Quarter 2010. SHANGHAI, April 7 /PRNewswire-FirstCall/ -- JA Solar Holdings Co., Ltd. (Nasdaq: JASO), a leading manufacturer of high-performance solar products, today announced revised guidance for its first quarter ended March 31, 2010. Based on current customer orders and product deliveries, JA Solar now projects first quarter shipments to exceed 265MW, above the high-end of its previous guidance of 215MW to 225MW given on Feb. 11, 2010.
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 NIVS Provides Updates of Purchase Agreement for NIVS 3G Mobile Phone Products. HUIZHOU, China, April 7 /PRNewswire-Asia-FirstCall/ -- NIVS IntelliMedia Technology Group, Inc., ("NIVS" or the "Company") (NYSE Amex: NIV), a consumer electronics company that designs, manufactures and sells intelligent audio and visual products, today announced an update to its purchase agreement to sell 3G mobile phones to China PTAC Communications Services on behalf of China Telecom as previously announced in the Company's press release issued on January 14, 2010.
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 SORL Auto Parts Signs New Contracts in Agricultural and Light-Truck Sector. ZHEJIANG, China, April 7 /PRNewswire-Asia-FirstCall/ -- SORL Auto Parts, Inc. ( SORL)("SORL" or "The Company"), a leading manufacturer and distributor of commercial vehicle air brake systems as well as related auto parts in China, today announced new contract awards in the agricultural and light vehicle markets.
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|  | The China 100 Stock Index closed Wednesday, April 07, 2010:
1,045.69  0.43 (0.04 %) | | | JA Solar Holdings Co., Ltd. (JASO) led the Gainers closing 4/7/2010:
6.22  0.55 (9.70 %)
| | | China Armco Metals, Inc. (CNAM) was the Index biggest loser closing 4/7/2010:
8.50 0.53 (5.87 %)
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| | The China Vesting Large Cap Stock Index (Panda) closed Wednesday, April 07, 2010:
1,061.78 0.81 (0.08 %) | | | Suntech Power Holdings (STP) led the Index closing 4/7/2010:
14.89 0.89 (6.36 %)
| | | Mindray Medical International Limited (MR) was the Index biggest loser closing 4/7/2010:
34.88 1.29 (3.57 %)
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| | The China Vesting Small and Mid Cap Stock Index (Tiger) closed Wednesday, April 07, 2010:
1,052.16 2.90 (0.28 %) | | | JA Solar Holdings Co., Ltd. (JASO) led the Index closing 4/7/2010:
6.22 0.55 (9.70 %)
| | | China Armco Metals, Inc. (CNAM) was the Index biggest loser closing 4/7/2010:
8.50 0.53 (5.87 %)
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| | The China Vesting Undervalued Stock Index (Dragon) closed Wednesday, April 07, 2010:
1,014.37 3.24 (0.32 %) | | | Solarfun Power Holdings Co. Ltd. (SOLF) led the Index closing 4/7/2010:
8.58 0.63 (7.92 %)
| | | 3SBio (SSRX) was the Index biggest loser closing 4/7/2010:
11.34 0.60 (5.03 %)
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