A
record wave of Chinese high school graduates are now enrolling in colleges
throughout the United States. While China's students have long filled
American graduate schools, its undergraduates now represent
the fastest-growing group of international students. In 2009,
over 26,000 students were studying in the United States, up from about 8,000
students eight years ago. Chinese students are not only enrolled at
nationally known universities, but also at regional, state and even community
colleges that recruit overseas. Majority of these students are paying
that maximum amount of tuition which is benefiting for campuses where the
economic downturn has stripped away state financing.
China's growing number of middle-class parents, who have
diligently saved for years to get their “only child” into a top school,
hope for an advantage in a competitive job market driven by the surge of
college graduates throughout the country. Since the 1990s, China
has doubled its number of higher education institutions. More than 60%
of high school graduates now attend a university, up from 20% in the
1980s.
The China 100 Stock Index closed the week at 970.47
down -13.84 (1.41%). HQ Sustainable Maritime Industries,
Inc. led the gainers up 25.42%. RINO
International Corporation was the biggest loser down (32.00%).
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Biggest Gainers For The Week
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HQ
Sustainable Maritime Industries, Inc. (HQS)
closed the week as the highest gainer in the China Vesting Index up +25.42%. The leading producer of Tilapia
biomass, including fish and personal healthcare products, just
reported their third quarter financial results. The company's health
and bio-product segment sales increased by 6%
to $8.6 million during the third quarter in comparison to $8.1
million in the same period last year.
With
a +13.03% gain, Yuhe
International, Inc. (YUII)
announced that they will be conducting a conference call at 9:00 a.m. EST on
Tuesday, November 16, 2010. The leading supplier of day-old chickens
raised for meat production in China
will be discussing their third quarter results for 2010. To
participate in the live conference call, the domestic line is (877)
509-7549. International callers is (706) 902-4287.
China
Biologic Products, Inc. (CBPO)
finished this week up +5.71% after
also announcing that it will host a conference call discussing the company's
third quarter 2010 financial results. Mr. Colin Zhao, Chief Executive
Officer, and Mr. Tristan Kuo, Chief Financial Officer will be hosting the
conference call.
Another
sizable gainer for the second week in a row is China Shenghuo Pharmaceutical
Holdings, Inc. (KUN)
up +4.44%. The company just
released the management's
discussion and analysis of financial condition and results of their
operations. That helped boost investor confidence.
New
Oriental Edu & Tech ADR (EDU)
finished with a gain of +4.25%.
China’s largest provider of private educational services announced that the Company's
Board of Directors has appointed Mr. Chenggang Zhou as Director
of the Company and Mr. Xiangdong Chen has been appointed as Executive
President, Domestic Business, Mr. Yunlong Sha has been appointed Senior
Vice President and Mr. Guofu Li has been appointed Vice President,
Operations.
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Biggest Losers For The Week
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The
largest drop amongst the loser companies this week is RINO International
Corporation (RINO)
with a loss of -32.00%. The
environmental protection and remediation company in the People's Republic of
China will be investigated
by the Law Offices of Howard G. Smith on behalf of purchasers of the
common stock concerning possible violations of federal securities laws.
The investigation will center on charges that certain statements issued by the
Company regarding RINO's business, operations and prospects were false and
misleading. There will be plenty to discuss during their third quarter
conference call.
With
a -28.41% decline, China Armco Metals,
Inc. (CNAM)
announced that the Jiangsu Provincial Government has recently initiated
additional rolling blackouts for the Lianyungang enterprise zone where its
wholly owned subsidiary operates its metal recycling facility. The energy
restrictions
will significantly reduce the company's recycling capabilities in the
fourth quarter and has also impacted distribution business. Due to the
uncertainties to duration of the current power disruptions, the distributor of
imported metal ore and metal recycling facility will therefore withdraw its
financial guidance for 2010.
AgFeed
Industries, Inc. (FEED)
experienced a drop of -24.33%. The
international agribusiness with operations in the U.S. and China, announced its
results for the third quarter of 2010. After reporting
the disappointing earnings, traders fled since the results were well
below analysts' expectations for $0.33 cents in EPS on revenue of $37.3
million.
This
was a bearish week for Solarfun Power Holdings Co. Ltd. (SOLF)
with a loss of -21.01% after the
company announced that its follow-on public offering of 8,000,000 American
depositary shares was priced at US$9.00 per ADS, and that the underwriters have
exercised their option to purchase 1,200,000 additional ADSs. This total
offering size of US$82.8 million in gross proceeds represents
a 6.1% increase compared to the public offering size announced at the
commencement of the public offering.
China
Agritech Inc. (CAGC)
closes out the losers list with a -20.77%
decline. The maker of organic fertilizer reported a net income decrease
of 68% to miss analysts' expectations as devastating
floods in China damaged two million acres of cropland, effecting demand
for its products. The company’s third-quarter earnings slid to $1.8 million, or $0.09 cents a share, from $5.7 million, or $0.41
cents a share, during the same period last year.