China Env came down from very high price to touch 19 cents. Recent days rebounding .....now 24.5 cents. Finansa has a target price of 50 cents. Dont know how come they have so much confidence.:silly: CHINA ENVIRONMENT: 50-ct price target & 72% upside by Finansa
www.nextinsight.biz/content/view/2334/79/
www.theedgesingapore.com/markets/insider...ina-environment.html
Written by Angeline Cheong Friday, 18 June 2010 14:55 Ma Ong Kee, a strategic investor behind the back-door listing of Fujian- based China Environment, acquired 831,000 shares on June 10, raising his stake from 24.96% to 25.09%. On June 9, CEO Huang Min acquired 1.02 million shares at 19.5 cents each, raising his stake to 38.06%, from 37.9%. Ma, who has investments in Metax Engineering and ecoWise Holdings, engineered the deal to inject Fujian Dongyuan, a company that designs and installs electrostatic precipitators (ESPs), baghouses and hybrid dust collectors into a shell listed company known as Gates Electronics, which was later renamed China Environment. Currently, 90% of China Environmentââ¬â¢s customers are from the power generation industry. In April, China Environment received the industrial certification to design and construct ESP for 600MW thermal power stations. Previously, it was allowed to take on only projects from 200MW and 300MW thermal power stations. Finansa Securities (Hong Kong) believes the ability to take on larger projects bodes well for China Environment as the country is expected to build 315 such plants this year and more than 3,000 plants by 2015. For the quarter ended March 31, China Environment reported a 22% increase in revenues to RMB130.4 million ($26.6 million), owing to stronger demand for dust collectors. However, earnings fell 10% to RMB22 million, owing to rising steel prices and higher operating expenses.
china environment is firming up - now up 1 cent at 25.5 cents. seems like the insider buying in the past few months was a strong hint? On June 9, CEO Huang Min acquired 1.02 million shares at 19.5 cents each - already made S$60,000 in 2 months. Easy money....sigh.
