Friday, January 26, 2007

Update - Nasdaq Listing (HRBN)

As mentioned last week, here comes Nasdaq listing...

http://biz.yahoo.com/prnews/070126/cnf009.html?.v=17

Harbin Electric Announces Approval for Listing on NASDAQ Global MarketFriday January 26, 8:30 am ET
HARBIN, China, Jan. 26 /Xinhua-PRNewswire-FirstCall/ -- Harbin Electric, Inc. (OTC Bulletin Board: HRBN - News), announced today that its common stock has been approved for listing on the NASDAQ Stock Market. The Company expects to commence trading on the NASDAQ Global Market on Wednesday, January 31, 2007 under the ticker symbol "HRBN." Until that time, the Company's shares will continue trading on the OTC Bulletin Board. The NASDAQ Global Market, formerly the NASDAQ National Market, includes approximately 1,450 companies.

"We are proud to meet the strict requirements for listing on the NASDAQ Global Market, which reflects the significant progress we have achieved in growing our business and delivering strong financial results," commented Tianfu Yang, Chairman and CEO of Harbin Electric Inc. "We believe that a listing on NASDAQ will increase our visibility, strengthen our shareholder base and enhance shareholder value."

Mr. Yang continued, "2007 will be a year in which Harbin Electric penetrates new markets, develops new products, and continues to gain share within current customers while continuing our expansion into the international marketplace. Achieving a NASDAQ listing was a major goal for us during the first half of 2007 and we are excited to have accomplished this early in the year. I would like to express my appreciation to our Board of Directors, experienced management team and dedicated employees for this significant corporate achievement."
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Thursday, January 18, 2007

HRBN - Harbin Electric

Potentially good long term investment in Harbin Electric (HRBN.OB) - http://finance.yahoo.com/q?s=hrbn.ob
http://www.sec.gov/cgi-bin/browse-edgar?action=getcompany&CIK=0001266719&owner=include&count=40

The company is specializing in the linear motors. This is US company based in Beijing, China, which makes it undiscovered China play. They are forecasted to earn .82 in 2007, and almost twice as much (over 1.50) in 2008.

So, basically the forward P/E is below 6 right now...(stock is currently trades between 8.10 and 8.20). Bejing is planning to build the world's biggest subway, which is projected to surpass London as the city with the world's most extensive underground. There is potentially a very big market for railway projects for Harbin Electric's Linear Motors. Recently they announced that they entered into a joint venture research and development with Institute of Electrical Engineering of the Chinese Academy of Sciences to produce a train and system to be tested at the Beijing Airport railway line in China by the end of 2008.

Company is also trying to get on the Nasdaq with a possible listing before April 1, 2007, as well as engage a Qualified Auditing Firm. Here is the section from the recent financing deal they made with Citadel & ML:

Section 4.25 Listing of the Company's Common Stock.

The Company shall make such filings, registrations or qualifications and take all other necessary action and will use its best efforts to obtain such consents, approvals and authorizations, if any, and satisfy all conditions that the Nasdaq Capital Market or Nasdaq Global Market may impose on listing the Company's common stock and shall use its best efforts to obtain such listing by no later than April 1, 2007 and maintain such listing continuously thereafter.

And finally, Dutton and Associates began covering this stock with a Strong Buy Raiting. Once again, this is not a daytrade, but a potentially multi-bagger long term investment...

As of December 18, 2006 it had only 16.6 mil O/S, and insiders own 13.6 mil shares, leaving only 3 mil in the float.

http://finance.yahoo.com/q?s=hrbn.ob

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