Focus Media Holding (FMCN) continued its upward trend, edging up $0.85, or 5.16% with heavy trading volume. Last Tuesday Focus Media announced its better-than-expected 2009 fourth quarter and full year earnings results sending the stock to a new 52-week high of $18.72. For the fourth quarter, total net revenue was $144.3 million and net loss was $52.5 million, or $0.39 per ADS, compared to a net loss of $802.5 million, or $6.24 per ADS same period in the prior year. Focus Media forecasts net revenues for LCD display networks, in-store networks and poster frame networks in the range of $78-80 million, the mid-point of which would represent year-on-year growth of 23%. Following the financial results announcement, Morgan Stanley upgrades FMCN to overweight.
China Marine Food Group (CMFO) today reported record earnings results for fourth quarter and fiscal year 2009 however shares slightly dropped $0.24, or 3.53%. For fourth quarter, its revenue was $24.9 million, up 85.0% from fourth quarter 2008 and net income was $4.5 million, up 74.1% from same quarter 2008. Total revenue for fiscal year 2009 was $69.6 million, up 42.6% from fiscal year 2008 and net income was $14.6 million, up 30.9% from last year which both exceed guidances of $60.0 million and $14.3 million. As of December 31, 2009, the company has cash and cash equivalents of $7.14 million and accounts receivable of 18.83 million compared to $31.64 million and $4.81 million respectively as of December 31, 2008. The company forecasts net revenue of $100.0 million and net income of $21.5 million for fiscal year 2010.
Orient Paper (ONP) bounced back from last week’s losses on internet doubt of company pulling out of a Roth Capital Conference, advancing $0.71, or 8.65%. Melco Grown Entertainment (MPEL) resumed the gain following three days slight declines, advancing 7.47% on 7.04 million shares traded. Last Tuesday, Melco Grown surged 8.50% on favorable comments from Macau Chief Executive that Macau will seek to regulate the building of new casinos which will benefit the existing casino operators. Given the fact that Macau has been the fastest growing market in the gambling industry, Melco Grown keeps showing its strength. Following a dip fall of 21.41% with a 44-week low of $6.07 on worse-than-expected 2009 fourth quarter earnings, HQ Sustainable Maritime Industries (HQS) became oversold and slightly bounced back today with a 3.92% gain at 319,519 shares traded.
Following a 6-day gain in a row, Yucheng Technologies halted its upward trend and dropped 5.00% with neutral volume of 489,784 shares traded. Following the article published by Metal Pages describing China Direct has shelved plans to become an importer of magnesium into the United States due to spiraling application costs and a heavy documentation process required by the U.S. government according to trade sources, China Direct Industries (CDII) have been descending three days in a low, closing 4.48% lower in today’s trading session. Telestone Technologies (TSTC) continued its downward trend since it filled a registration statement S-3 containing a prospectus that the company may offer securities having an aggregate initial offering price of up to $150 million.
| TOP GAINERS |
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Orient Paper Inc. (ONP) |
8.87 |
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0.71 / + 8.70% |
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Melco Crown Entertainment Ltd. (MPEL) |
4.89 |
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0.34 / + 7.47% |
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China Mass Media Corp. (CMM) |
2.59 |
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0.14 / + 5.71% |
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Focus Media Holding Ltd. (FMCN) |
17.31 |
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0.85 / + 5.16% |
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HQ Sustainable Maritime Industries, Inc. (HQS) |
6.37 |
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0.24 / + 3.92% |
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| TOP LOSERS |
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China Kangtai Cactus Bio (CKGT) |
1.99 |
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0.21 / - 9.55% |
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Yucheng Technologies Limited (YTEC) |
3.99 |
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0.21 / - 5.00% |
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China Direct Industries, Inc. (CDII) |
1.49 |
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0.07 / - 4.49% |
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China Organic Agricultr (CNOA) |
0.81 |
 |
0.03 / - 3.57% |
 |
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China Marine Food Group Limited (CMFO) |
6.56 |
 |
0.24 / - 3.53% |
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Yanzhou Coal Mining Co. Ltd. (YZC) files 6-K - Report of foreign issuer [Rules 13a-16 and 15d-16]. The board of directors (the “Board”) of Yanzhou Coal Mining Company Limited (the “Company”), announces that the principal place of business of the Company in Hong Kong has been changed to Rooms 2008-12, 20/F, The Center, 99 Queen’s Road Central, Hong Kong with immediate effect. The telephone and facsimile numbers remain unchanged.
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Yanzhou Coal Mining Co. Ltd. (YZC) files 6-K - Report of foreign issuer [Rules 13a-16 and 15d-16]. Dear Shareholder,
Yanzhou Coal Mining Company Limited (the “Company”)
–Notice of publication of Circular (“Current Corporate Communications”)
The English and Chinese versions of the Company’s Current Corporate Communications are available on the Company’s website at www.yanzhoucoal.com.cn and the HKExnews’s website at www.hkexnews.hk, or the arranged printed form(s) of Current Corporate Communications is enclosed (if applicable). You may access the Current Corporate Communications on the home page of our website or browsing through the HKExnews’s website.
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China TransInfo Technology Corp. (CTFO) files 8-K - Current report. Beijing, China – March 22, 2010, China TransInfo Technology Corp., (NASDAQ: CTFO), ("China TransInfo" or “the Company"), a leading provider of public transportation information systems technology and comprehensive solutions in the People’s Republic of China (“PRC”), today reported its unaudited financial results for the fourth quarter and year ended December 31, 2009.
Fourth Quarter 2009 Highlights-
• Revenue increased 166.1% year-over-year to $28.4 million.
• Gross profit expanded 64.9% year-over-year to $10.0 million.
• Operating income grew 26.1% year-over-year to $5.1 million.
• Adjusted net income increased 22.3% year-over-year to $5.1 million, or $0.23 per fully diluted share.
• Appointed BDO Guangdong Dahua Delu As New Independent Auditor.
• Launched three new real-time traffic mobile phone applications and expanded real-time traffic application coverage to Shenzhen, Tianjin and Changzhou.
• Awarded a provincial highway toll settlement and billing system contract in Shanxi Province valued at approximately RMB 26 million, or approximately USD $3.8 million.
• Awarded an intelligent transportation system contract in Hubei Province valued at approximately RMB 114 million, or approximately USD $16.7 million.
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Focus Media Holding Ltd. (FMCN) files 6-K - Report of foreign issuer [Rules 13a-16 and 15d-16]. SHANGHAI, China, March 16, 2010 – Focus Media Holding Limited (Nasdaq: FMCN), China’s largest digital media group, today announced its unaudited financial results for the fourth quarter and full year ended December 31, 2009.
Basis of Presentation -
The results of the internet business have been restated in this earning release to reflect the disposal of certain subsidiaries which have been classified as discontinued operations for all periods presented..
Highlights for Fourth Quarter 2009:
Total net revenue for fourth quarter 2009 was $144.3 million, of which the aggregate net revenue for the LCD display network, in-store network and poster frame network was $98.3 million, surpassing the Company’s previous guidance of $92 million and the aggregate net revenue for the movie theatre and outdoor traditional billboard network and Internet advertising services was $46.0 million, surpassing the Company’s previous guidance of $39 million.
GAAP net loss attributable to Focus Media was $52.5 million or a loss of $0.39 per fully diluted ADS, compared to net loss attributable to Focus Media of $127.6 million for the third quarter of 2009 or a loss of $0.99 per fully diluted ADS and net loss attributable to Focus Media of $802.5 million for the fourth quarter of 2008 or a loss of $6.24 per fully diluted ADS.
Non-GAAP net income attributable to Focus Media for the fourth quarter of 2009 was $34.7 million or an income of $0.26 per ADS, compared to non-GAAP net income attributable to Focus Media of $7.9 million for the third quarter of 2009 or an income of $0.06 per ADS and non-GAAP net income of $50.0 million for the fourth quarter of 2008 or an income of $0.39 per ADS.
Net cashflow from operations in the fourth quarter of 2009 was $72.3 million, an increase of 96% from $ 36.8 million in the third quarter of 2009.
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China Unicom (Hong Kong) Limited (CHU) files 6-K - Report of foreign issuer [Rules 13a-16 and 15d-16]. The Board is pleased to disclose the operational statistics of the Group for the month of February 2010.
The board of directors (the “Board”) of China Unicom (Hong Kong) Limited (the “Company”) is pleased to disclose the operational statistics of the Company and its subsidiaries (collectively the “Group”) for the month of February 2010.
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American Oriental Bioengineering Inc. (AOB) files 8-K - Current report. New York, March 15, 2010 – American Oriental Bioengineering, Inc. (NYSE: AOB), (“the Company” or “AOBO”), a pharmaceutical company dedicated to improving health through the development, manufacture and commercialization of a broad range of prescription and over the counter (“OTC”) products, today announced financial results for the fourth quarter and fiscal year ended December 31, 2009.
Fourth Quarter 2009 Financial Performance:
Revenue in the fourth quarter of 2009 increased 3.9% year over year to $100.0 million from $96.3 million, reflecting continued demand for the Company’s core prescription and OTC pharmaceutical products.
Gross profit in the fourth quarter of 2009 was $52.6 million compared to $60.0 million in the fourth quarter of 2008. Gross margin was 52.6%, compared to 62.4% in the prior year period, reflecting continued revenue mix shift to CCXA’s generic product sales as well as increasing raw material prices.
Operating income in the fourth quarter of 2009 increased 28.5% to $14.9 million compared with $11.6 million in the prior year period. Selling and marketing expenses decreased 17.4% to $14.1 million from $17.1 million in the prior year period, and advertising expense decreased 22.7% to $9.5 million in the fourth quarter of 2009, compared to $12.3 million in the prior year period. Research and development expenses increased to $6.7 million compared with $0.6 million in the prior year, reflecting the Company’s efforts in R&D activities including the setup of the centralized R&D centre in Beijing, China in 2009. General and administrative expenses increased 35.5% to $6.5 million from $4.8 million in the prior year period, primarily driven by increased expenses on optimizing the management team in view of the changing market environment and on the accounting-related professional fees resulting from the increased number of subsidiaries being audited and additional audit fees.
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The9 Limited (NCTY) files 6-K - Report of foreign issuer [Rules 13a-16 and 15d-16]. Shanghai, China — March 22, 2010. The9 Limited (NASDAQ: NCTY) (“The9”), an online game developer and operator in China, and Red 5 Studios, Inc. (“Red 5”), an online game developer in the United States, today jointly announced that they have entered into a definitive investment agreement pursuant to which The9 will invest a total amount of approximately US$20 million for a majority interest in Red 5.
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Yanzhou Coal Mining Co. Ltd. (YZC) files 6-K - Report of foreign issuer [Rules 13a-16 and 15d-16]. On 13 August 2009, the Company entered into a binding Scheme Implementation Agreement with Felix and pursuant to which, the Company agreed to acquire all of the Felix Shares, subject to the Conditions being fulfilled or waived. The Transaction was approved by the Shareholders and Felix Shareholders at their respective extraordinary general meetings held on 30 October 2009 and 8 December 2009, respectively. The Scheme was approved by the Federal Court of Australia and became effective on 11 December 2009. The Scheme Consideration was paid to Felix Shareholders on 23 December 2009 and all the Felix Shares were transferred to Austar on the same date.
The purpose of this Supplemental Circular is to provide the Shareholders with, among other things, the prescribed information under Rules 14.66 and 14.67 of the Hong Kong Listing Rules which has not been previously disclosed in the Circular.
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China Advanced Construction Materials Group, Inc. (CADC) files 8-K - Current report. On March 22, 2010, China Advanced Construction Materials Group, Inc. (the “Company”) announced that Roth Capital Partners, LLC (“Roth”), the sole book-running manager and underwriter of our recently completed public offering of common stock, exercised in full its option to purchase an additional 300,000 shares of common stock to cover over-allotments. The sale of the additional shares closed on March 22, 2010. A copy of the opinion of Pillsbury Winthrop Shaw Pittman LLP relating to the legality of the issuance and sale of the 300,000 additional shares is attached as Exhibit 5.1 hereto. A copy of the Company’s press release announcing Roth’s exercise of the over-allotment option is attached hereto as Exhibit 99.1.
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LDK Solar Co., Ltd. (LDK) files 6-K - Report of foreign issuer [Rules 13a-16 and 15d-16]. XINYU CITY, China and SUNNYVALE, Calif., March 22, 2010 — LDK Solar Co., Ltd. (NYSE: LDK), a leading manufacturer of multicrystalline solar wafers and PV products, today announced that it will hold an Analyst Day in Xinyu City, China on Monday, April 19, 2010.
Senior members of LDK Solar’s management team will host a series of presentations from 9:00 AM to 12:00 PM China Standard Time, followed by a tour of the Company’s manufacturing facilities. A live audio webcast and replay of the event will be made available on the Investor Relations section of the Company’s website at: www.ldksolar.com.
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51job Inc. (JOBS) files 6-K - Report of foreign issuer [Rules 13a-16 and 15d-16]. SHANGHAI, China, March 22, 2010 – 51job, Inc. (Nasdaq: JOBS), a leading provider of integrated human resource services in China, regretfully announced today that Board of Directors member Dr. Xiaoyue Chen has passed away. Dr. Chen joined 51job’s Board of Directors as an independent director in 2007 and served as the chairman of the nominating and corporate governance committee and a member of the audit committee.
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China Marine Food Group Limited (CMFO) files 10-K - Annual report [Section 13 and 15(d), not S-K Item 405]. Our revenue increased by approximately $20.8 million or 42.6% from $48.8 million in 2008 to $69.6 million in 2009. The increase in revenue was due to the continued growth both in sales of our processed seafood products and marine catch segment. Sales of our processed seafood products increased by $7.7 million or 17.3%, whereas sales of our marine catch segment increased by $13.1 million or over three-fold.
Comparing results in 2007 and 2008, our revenue increased by approximately $12.4 million or 34.0% from $36.4 million in 2007 to $48.8 million 2008. Sales of our processed seafood products increased by $16.5 million or 59.2%, whereas sales of our marine catch segment dropped by $4.1 million or 48.3%.
The processed seafood products operations continued to be the growth driver for us as our products continue to gain market acceptance, particularly in Fujian and Zhejiang provinces. The higher sales in the processed seafood products segment were mainly due to our continued success in the sales and marketing efforts. We also penetrated into two new neighborhood markets, Jiangsu and Guangdong provinces, in the second quarter of 2008 and another new inland market, Sichuan province, in the third quarter of 2009. Accordingly, the number of sales staff has further increased from 19 in 2007 to 24 as at December 31, 2009.
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China ACM Appointed Jeremy Goodwin To Be Chief Financial Officer. BEIJING, March 22 /PRNewswire-FirstCall/ -- China Advanced Construction Materials Group, Inc. (Nasdaq:CADC - News), ("China ACM" or the "Company") a leading provider of ready-mix concrete in China, announced that Mr. Jeremy Goodwin, has been appointed as the Company's Chief Financial Officer.
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China Biologic Products Schedules Conference Call to Discuss Fourth Quarter and Full Year 2009 Results. TAI'AN, China, March 22 /PRNewswire-Asia-FirstCall/ -- China Biologic Products, Inc. (Nasdaq: CBPO) ("China Biologic," or the "Company"), a leading plasma-based biopharmaceutical company in China, today announced that it will host a conference call at 9:00 a.m. EDT on Wednesday, March 24, 2010, to discuss the fourth quarter and full year 2009 financial results.
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China Marine Food Group Limited Reports Record Results for its Fourth Quarter and Fiscal Year 2009, Company Exceeds 2009 Guidance. SHISHI, China, March 22 /PRNewswire-Asia-FirstCall/ -- China Marine Food Group Limited (NYSE Amex: CMFO) ("China Marine" or the "Company"), a China-based manufacturer of Mingxiang(R) seafood-based snack foods, "Hi-Power" marine algae-based beverages and distributor of frozen marine catch, today announced record financial results for its fourth quarter and fiscal year ended December 31, 2009.
Fourth Quarter Fiscal Year 2009 Highlights:
-- Revenue was $24.9 million, up 85.0% from Q4 2008.
-- Gross profit was $5.8 million, up 54.7% from Q4 2008.
-- Operating income was $4.8 million, up 71.0% from Q4 2008.
-- Net income was $4.4 million, up 74.1% from Q4 2008.
-- Earnings per share were $0.18 based on 24.4 million shares.
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China Sky One Medical Prepares to Launch 13 New Products. HARBIN, China, March 22 /PRNewswire-Asia-FirstCall/ -- China Sky One Medical, Inc. ("China Sky One Medical" or "the Company") (Nasdaq:CSKI - News), a leading fully integrated pharmaceutical company producing over-the-counter drugs in the People's Republic of China ("PRC"), today announced the pending commercial launch of 13 new SFDA approved products over the next few quarters.
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China TransInfo Announces Record Unaudited Fourth Quarter and Full Year 2009 Results; Anticipates Robust Growth for 2010. BEIJING, March 22 /PRNewswire-Asia-FirstCall/ -- China TransInfo Technology Corp., (Nasdaq:CTFO - News), ("China TransInfo" or "the Company"), a leading provider of public transportation information systems technology and comprehensive solutions in the People's Republic of China ("PRC"), today reported its unaudited financial results for the fourth quarter and year ended December 31, 2009.
Fourth Quarter 2009 Highlights:
-- Revenue increased 166.1% year-over-year to $28.4 million
-- Gross profit expanded 64.9% year-over-year to $10.0 million
-- Operating income grew 26.1% year-over-year to $5.1 million
-- Adjusted net income increased 22.3% year-over-year to $5.1 million, or
$0.23 per fully diluted share
-- Appointed BDO Guangdong Dahua Delu as New Independent Auditor
-- Launched three new real-time traffic mobile phone applications and
expanded real-time traffic application coverage to Shenzhen, Tianjin
and Changzhou
-- Awarded a provincial highway toll settlement and billing system
contract in Shanxi Province valued at approximately RMB 26 million, or
approximately USD $3.8 million
-- Awarded an intelligent transportation system contract in Hubei Province
valued at approximately RMB 114 million, or approximately USD $16.7
million
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China TransInfo Acquires Majority Interest in UNISITS. BEIJING, March 22 /PRNewswire-Asia-FirstCall/ -- China TransInfo Technology Corp., (Nasdaq:CTFO - News), ("China TransInfo" or the "Company"), a leading provider of public transportation information systems technology and comprehensive solutions in the People's Republic of China ("PRC"), today announced that the Company and its variable interest entity, China TransInfo Technology Group Co., Ltd. (the "Group Company") entered into certain equity transfer agreements (the Equity Transfer Agreements") with several individual shareholders (the "Transferors") of Beijing UNISITS Technology Co. Ltd. ("UNISITS"), pursuant to which the Group Company acquired 30.85% equity interest in UNISITS from the Transferors.
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Murray, Frank & Sailer LLP Files Securities Class Action Against Fuqi International, Inc.. NEW YORK--(BUSINESS WIRE)--Murray, Frank & Sailer LLP has filed a class action complaint in the United States District Court for the Southern District of New York (Case No. 10 Civ. 2515) on behalf of all individuals and institutions who purchased Fuqi International, Inc. (“Fuqi” or the “Company”) (NASDAQ:FUQI - News) publicly traded securities during the period between May 15, 2009 and March 16, 2010 (the “Class Period”). The complaint seeks to recover damages for shareholders for defendants’ violations of the Securities Exchange Act of 1934.
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51job, Inc. Announces Passing of Board Member Dr. Xiaoyue Chen. SHANGHAI, March 22 /PRNewswire-Asia-FirstCall/ -- 51job, Inc. (Nasdaq: JOBS), a leading provider of integrated human resource services in China, regretfully announced today that Board of Directors member Dr. Xiaoyue Chen has passed away. Dr. Chen joined 51job's Board of Directors as an independent director in 2007 and served as the chairman of the nominating and corporate governance committee and a member of the audit committee.
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LDK Solar to Host Analyst Day in Xinyu City, China. INYU CITY, China and SUNNYVALE, Calif., March 22 /PRNewswire-FirstCall/ -- LDK Solar Co., Ltd. (NYSE:LDK - News), a leading manufacturer of multicrystalline solar wafers and PV products, today announced that it will hold an Analyst Day in Xinyu City, China on Monday, April 19, 2010.
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The9 Limited Announces Acquisition of Majority Interest in Red 5 Studios. SHANGHAI, March 22 /PRNewswire-Asia-FirstCall/ -- The9 Limited (Nasdaq:NCTY - News) ("The9"), an online game developer and operator in China, and Red 5 Studios, Inc. ("Red 5"), an online game developer in the United States, today jointly announced that they have entered into a definitive investment agreement pursuant to which The9 will invest a total amount of approximately US$20 million for a majority interest in Red 5.
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Shanda Interactive Entertainment Limited Announces $300 Million Share Repurchase Plan. SHANGHAI, March 22 /PRNewswire-Asia/ -- Shanda Interactive Entertainment Limited ( SNDA, "Shanda" or the "Company"), a leading interactive entertainment media company in China, today announced that its Board of Directors has approved a share repurchase program. Under the share repurchase program, the Company is authorized to repurchase up to $300 million worth of its outstanding American Depositary Shares ("ADSs") representing the ordinary shares of the Company from time to time, depending on market conditions, share price and other factors, as well as subject to the memorandum and articles of association of the Company, the relevant rules under United States securities laws and regulations and the relevant stock exchange rules. The share repurchases may be made on the open market, in block trades or otherwise and is expected to include derivative transactions. The program may be suspended or discontinued at any time.
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EnBW to Build Solar Park with 5.5 MW of Solarfun PV Modules in Ulm-Eggingen, Germany. SHANGHAI, March 22 /PRNewswire-FirstCall/ -- EnBW Energie Baden-Wurttemberg AG ("EnBW"), the third largest energy company in Germany, announced that it plans to build a solar park in Baden-Wuerttemberg using 5.5 MW of photovoltaic ("PV") modules produced by Solarfun Power Holdings Co., Ltd. ("Solarfun") (Nasdaq:SOLF - News), a vertically integrated manufacturer of silicon ingots, wafers and PV cells and modules in China. The solar park, one of the largest in the region, will be constructed on a former dumpsite and is expected to be connected to the grid in June 2010. The new project is expected to supply electricity to approximately 1,970 households and save approximately 3,990 tons of carbon dioxide per year.
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 |  | The China 100 Stock Index closed Monday, March 22, 2010: 1,011.45 12.74 (1.24 %) |  |  | Orient Paper Inc. (ONP) led the Gainers closing 3/22/2010: 8.87 0.71 (8.70 %)
|  |  | China Kangtai Cactus Bio (CKGT) was the Index biggest loser closing 3/22/2010: 1.99 0.21 (9.55 %)
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 |  | The China Vesting Large Cap Stock Index (Panda) closed Monday, March 22, 2010: 1,030.80 3.80 (0.37 %) |  |  | China Telecom Corp. Ltd. (CHA) led the Index closing 3/22/2010: 45.31 1.27 (2.88 %)
|  |  | Suntech Power Holdings (STP) was the Index biggest loser closing 3/22/2010: 14.07 0.17 (1.19 %)
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 |  | The China Vesting Small and Mid Cap Stock Index (Tiger) closed Monday, March 22, 2010: 1,006.10 6.10 (0.61 %) |  |  | Orient Paper Inc. (ONP) led the Index closing 3/22/2010: 8.87 0.71 (8.70 %)
|  |  | China Direct Industries, Inc. (CDII) was the Index biggest loser closing 3/22/2010: 1.49 0.07 (4.49 %)
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 |  | The China Vesting Undervalued Stock Index (Dragon) closed Monday, March 22, 2010: 1,000.60 67.02 (6.28 %) |  |  | HQ Sustainable Maritime Industries, Inc. (HQS) led the Index closing 3/22/2010: 6.37 0.24 (3.92 %)
|  |  | China Kangtai Cactus Bio (CKGT) was the Index biggest loser closing 3/22/2010: 1.99 0.21 (9.55 %)
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