Shares of SORL Auto Parts (SORL) continued to show strength on new contract news. SORL signed a strategic supply agreement with Shandong KAMA Automobile Manufacturing and believes their products will account for as much as 80% of the total products used by KAMA. In addition, SORL has been selected as a key supplier by Shandong Wuzheng Group and estimated its products supplied to Wuzheng will reach approximately $2.8 million in 2010, doubling the amount in 2009. Following the announcement, Brean Murray initiated coverage on SORL Auto Parts with a Buy rating. The stock closed at $10.44 with a gain of 4.09% for the day.
Trina Solar (TSL), a large cap Chinese solar stock, rebounded from last Friday’s loss and increased 5.66% on average volume following a news, China's Solar Firms Get A Boost, published by Peter C. Beller on Forbes.com. Peter stated that the Chinese Government is extending billions in loans to domestic solar companies, which will likely help the companies move from pure manufacturing operations into what many perceive to be a more lucrative long-term strategy. According to the news, Trina Solar will get a $4 billion in funding. Shares of China Architectural Engineering (CAEI) were oversold and bounced back today with a gain of 5.50%. The stock has a solid support level at its 50-day moving average. China Advanced Construction Materials (CADC) shares surged 5.05%, breaking above the rising 200-day moving average.
Orient Paper (ONP), a small cap Chinese consumer product stock, today announced that it entered into a definitive equipment purchase agreement on April 9, 2010 with Henan Qinyang First Paper Machine Limited to purchase a corrugating medium paper product line with an annual production capacity of 360,000 tons for approximately $27.8 million. CEO of the company claimed that, “With the additional 360,000 tons of production capacity, we are set to expand our market share in northern China’s rapidly growing paper industry”. This positive announcement helped the stock edge up 4.20% on nearly double its average trading volume.
L & L International (LLEN), operating coal businesses in China, slightly pulled back 5.42% today after rising for over 50% since the company announced its impressive earnings. The drop is mostly of a profit taking indication. Telestone Technologies (TSTC) had dropped three days in a row from a previous rally, ending at $14.07 with a loss of 4.29%. Total shares traded today accounted 711,000 shares, representing a 10.64% of the float. TSTC has a support located at $14.00. Telestone is a developer and provider of wireless communication local access network solutions.
Shares of China Armco Metals (CNAM) today broke support at $8.00 and closed at $7.82 with a loss of 4.17%. The stock has been descending for the past few days. The next support is located at $7.60. Perfect World (PWRD), a large cap Chinese online gaming stock, had another loss from last week’s rally, shedding 3.38%. The stock is currently trading below its both 50-day and 200-day moving averages. China Housing and Land Development (CHLN), a Chinese real estate stock, reported preliminary contract sales results for its 2010 first quarter last Tuesday, April 6, 2010. Contract sales for the first quarter totaled $42.3 million compared to $42.5 million for 2009 fourth quarter and $15.6 million for the 2009 first quarter. CHLN was up 4.46% on the day when the announcement was released, but gradually pulled back, ending with a loss of 3.38% in today’s session.
| TOP GAINERS |
|---|
 |
Trina Solar Ltd. (TSL) |
26.15 |
 |
1.40 / + 5.66% |
|
|
China Architectural Engineering, Inc. (CAEI) |
1.15 |
|
0.06 / + 5.50% |
|
|
China Advanced Construction Materials Group, Inc. (CADC) |
5.62 |
|
0.27 / + 5.05% |
|
|
Orient Paper Inc. (ONP) |
9.43 |
|
0.38 / + 4.20% |
|
|
SORL Auto Parts, Inc. (SORL) |
10.44 |
|
0.41 / + 4.09% |
|
| TOP LOSERS |
|---|
|
L & L International Holdings (LLEN) |
13.25 |
 |
0.76 / - 5.42% |
|
|
Telestone Technologies Corp. (TSTC) |
14.07 |
|
0.63 / - 4.29% |
|
|
China Armco Metals, Inc. (CNAM) |
7.82 |
|
0.34 / - 4.17% |
|
|
Perfect World Co., Ltd. (PWRD) |
36.91 |
|
1.29 / - 3.38% |
|
|
China Housing and Land Development, Inc. (CHLN) |
3.72 |
|
0.13 / - 3.38% |
|
 |
 |
| |
 CNOOC Ltd. (CEO) files 6-K - Report of foreign issuer [Rules 13a-16 and 15d-16]. Our consolidated net profit decreased 33.6% to RMB29,485.6 million (US $4,316.0 million) in 2009 from RMB44,375.3 million in 2008. Our oil and gas sales decreased 16.8% to RMB 83,914.4 million (US $12,283.1 million) in 2009 from RMB 100,831.3 million in 2008, primarily as a result of significantly lower average realised oil prices in 2009. The average realised price for our crude oil decreased by US $28.78 per barrel, or 32.2%, to US $60.61 per barrel in 2009 from US $89.39 per barrel in 2008. We sold 186.9 million barrels of crude oil in 2009, representing a 22.4% increase from 152.7 million barrels in 2008. The average realised price for our natural gas increased US $0.18 per thousand cubic feet, or 4.7%, to US $4.01 per thousand cubic feet in 2009 from US $3.83 per thousand cubic feet in 2008. Sales volume of our natural gas increased 4.8% to 41.7 million BOE in 2009 from 39.8 million BOE in 2008.
|
| |
 Orient Paper Inc. (ONP) files 8-K - Current report. On April 9, 2010, Hebei Baoding Orient Paper Milling Company Limited, the operating entity of Orient Paper, Inc., a Nevada corporation (the “Company”), entered into a definitive equipment purchase agreement (“the Agreement”) with Henan Qinyang First Paper Machine Limited to purchase a corrugating medium paper production line with an annual production capacity of 360,000 tons for a purchase price of RMB 190.0 million (approximately $27.8 million). With the signing of the Agreement, a deposit of RMB 38.0 million (approximately $5.6 million) has been applied toward the first installment of the total purchase price. The remainder of the payment will be made in additional installments in commensuration with the progress made on equipment installation in the next six months. A copy of the Agreement is being filed as Exhibit 10.1 to this Form 8-K and is incorporated herein by reference in its entirety.
|
| |
 China Telecom Corp. Ltd. (CHA) files 6-K - Report of foreign issuer [Rules 13a-16 and 15d-16]. Notice of annual general meeting, dated April 8, 2010. The annual general meeting of China Telecom Corporation Limited (the “Company”) for the year ended 2009 will be held at 11:00 am on 25 May 2010 at Nathan Room, Lower Lobby, Conrad Hong Kong, Pacific Place, 88 Queensway, Hong Kong.
Proposed 2009 Final Dividend Distribution and Enterprise Income. The board of China Telecom Corporation Limited (the “Company”) proposes a final dividend in the amount equivalent to HK$0.085 per share (pre-tax), totalling approximately RMB6,076 million for the year ended 31 December 2009. The dividend proposal will be submitted for consideration at the Annual General Meeting to be held on 25 May 2010.
|
 |
|
| |
 Changyou.com to Report First Quarter 2010 Financial Results on April 26, 2010. BEIJING, April 12 /PRNewswire-Asia/ -- Changyou.com Limited ("Changyou" or the "Company") (Nasdaq: CYOU), a leading online game developer and operator in China, will report its first quarter 2010 unaudited financial results on Monday, April 26, 2010, before U.S. market hours.
|
| |
 Ryan & Maniskas, LLP Announces Lawsuit Against Fuqi International Inc.. WAYNE, Pa.--(BUSINESS WIRE)--Ryan & Maniskas, LLP announces that a class action lawsuit has been filed against Fuqi International, Inc. ("Fuqi" or the "Company") (NASDAQ:FUQI) and certain of its top officers. The class action was filed on behalf of purchasers of the Company's securities between May 15, 2009 and March 17, 2010, inclusive, (the "Class Period") and alleges violations of Sections 10(b) and 20(a) of the Securities Exchange Act of '34 and Rule 10b-5 promulgated thereunder. The action was filed in the United States District Court for the Southern District of New York.
|
| |
 NF Energy Saving Corporation Comments on The People's Republic of China's Important New Incentive Policies in Support of the Energy Service Industry. SHENYANG, China, April 12 /PRNewswire-Asia/ -- NF Energy Saving Corporation (OTC Bulletin Board: NFEC; "NF Energy"), a Chinese leader in providing integrated energy conservation solutions, today commented on the recent release of the People's Republic of China's State Council Plan, "Opinion on Accelerating the Implementation of Energy Management Contract to Promote the Development of Energy Service Industry," ("the Opinion"), which outlines the development goal, financial subsidies, preferential tax policies, accounting policies and pilot projects, etc. for the Energy Service Industry in China.
|
| |
Orient Paper Announces RMB 190 Million Acquisition of Corrugating Medium Paper Production Line. BAODING, China, April 12 /PRNewswire-Asia-FirstCall/ -- Orient Paper, Inc. (Amex:ONP.a - News) ("Orient Paper" or the "Company"), a leading manufacturer and distributor of diversified paper products in Hebei, China, today announced that on April 9, 2010, the Company entered into a definitive equipment purchase agreement ("the Agreement") with Henan Qinyang First Paper Machine Limited ("Qinyang Paper Machine") to purchase a corrugating medium paper production line with an annual production capacity of 360,000 tons for RMB 190.0 million (approximately $27.8 million). |
| |
 Sohu.com to Report First Quarter 2010 Financial Results on April 26, 2010. BEIJING, April 12 /PRNewswire-Asia/ -- Sohu.com Inc. ( SOHU), China's leading online media, communication, search, online game and mobile value-added services company, will report its first quarter 2010 unaudited financial results on Monday, April 26, 2010, before U.S. market hours.
|
|
|
|
|
 |
|  | The China 100 Stock Index closed Monday, April 12, 2010:
1,052.26  2.62 (0.25 %) | | | Trina Solar Ltd. (TSL) led the Gainers closing 4/12/2010:
26.15  1.40 (5.66 %)
| | | L & L International Holdings (LLEN) was the Index biggest loser closing 4/12/2010:
13.25 0.76 (5.42 %)
| |
|
| |
|
|
|
 |
| | The China Vesting Large Cap Stock Index (Panda) closed Monday, April 12, 2010:
1,067.64 6.08 (0.57 %) | | | Trina Solar Ltd. (TSL) led the Index closing 4/12/2010:
26.15 1.40 (5.66 %)
| | | Perfect World Co., Ltd. (PWRD) was the Index biggest loser closing 4/12/2010:
36.91 1.29 (3.38 %)
| |
|
| |
|
|
|
 |
| | The China Vesting Small and Mid Cap Stock Index (Tiger) closed Monday, April 12, 2010:
1,062.61 1.45 (0.14 %) | | | China Advanced Construction Materials Group, Inc. (CADC) led the Index closing 4/12/2010:
5.62 0.27 (5.05 %)
| | | L & L International Holdings (LLEN) was the Index biggest loser closing 4/12/2010:
13.25 0.76 (5.42 %)
| |
|
| |
|
|
|
 |
|
|
| | The China Vesting Undervalued Stock Index (Dragon) closed Monday, April 12, 2010:
1,013.81 1.12 (0.11 %) | | | China Architectural Engineering, Inc. (CAEI) led the Index closing 4/12/2010:
1.15 0.06 (5.50 %)
| | | China 3C Group (CHCG) was the Index biggest loser closing 4/12/2010:
0.44 0.01 (2.22 %)
| |
|
|
| |
|
|
|
|