Wednesday, September 26, 2007

Update on YTEC (Yucheng Technologies)

Looks like YTEC has finally caught the chinese momo. Earlier DD has been provided since beginning of the year actually, but it didn't seem to move the stock. It seems that it took serious chinese momo to finally move the stock towards new all time high on very high volume for this stock.

Just to recap its financials: Roughly 38 mil in cash, no debt, O/S = 16.9 million, float is roughly $10.35 million. Projected growth is around 40%; now has 3 analysts covering the stock - Maxim Group and ROTH Capital with Buy Ratings, and Avondale Partners with Outperform rating. Average 12 month target on these analysts is $13.50

Projected profits by the company in upcoming years:

2007 US$8.5 million
2008 US$11.9 million
2009 US$16.7 million
2010 US$23.3 million


Recently Yucheng Technologies Limited announced Strategic Online Banking Contract Win with Hangzhou City Commercial Bank. Prior to this, they have begun initial working relationships with several other major city commercial banks including Bank of Beijing, Bank of Shanghai, Bank of Nanjing and Shenzhen Ping An Bank. Here is the recent news release: http://biz.yahoo.com/prnews/070924/cnm018.html?.v=18

It's hard to say where the momentum will take stock, but one thing for sure - it's finally getting discovered. Good luck!
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Update on Harbin Electric (HRBN)

Harbin Electric has been releasing great news after great news. Projected revenues update in the last PR was great and exceeded my estimates. It has a low float, and thus its trading could be sideways for some time, until it catches either momentum or another great PR is released. Nevertheless, it's a great long term hold, which may have bumps here and there.

Technical analysis of the chart - $14.50 - 15.00 is a major resistance area. Once it pushes through this area, I believe we should see a nice upside. I'm expecting to see $19 as the first target from these levels.
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