T-Bay Holdings Inc. (TBYH.OB) - New

This week we saw a big jump in shares of Orsus Xelent Technologies Inc (AMEX:ORS), designer and manufacturer of award-winning mobile phones for the Asian market, due to their PR regarding updated forecasts.

Well, here is really undervalued and underfollowed stock, which found just a little bit of interest today and moved quickly before retreating on profit taking. This one could really appreciate much higher on its fundamentals along.

Here is the profile:

T-Bay Holdings, Inc., through its subsidiaries, provides a range of mobile handset design and other services to mobile handset brand owners in the People's Republic of China. It offers mobile handset design, industrial and mechanical design, software design, hardware design, and other design services, including GPS device, auto communication system, and radio frequency design. The company also manufactures components, including printed circuit boards and printed circuit board assembly, and whole mobile handsets, as well as after-sale maintenance services. T-Bay Holdings has strategic partnerships with VIA Technologies, Inc.; MediaTek, Inc., Ltd.; Anyka, Inc.; Infineon, Inc.; and Skyworks. It sells its products primarily in southeast Asia, eastern Europe, and Latin America. The company is based in Shanghai, the People's Republic of China.

First, some numbers ->

ORS O/S - 29 mil , float 5 mil
TBYH.OB O/S - 30 mil, float 11 mil

ORS -> Revenues for last year - 68 mil, net income - 6.7 mil, EPS - 0.24
TBYH.OB -> Revenues for last year - 35 mil, net income - 12 mil, EPS - 0.41

TBYH.OB is also projected to make 0.62 this year, and 1.01 next.

But enough of comparison. TBYH.OB does more than just mobil handset design.


Here is interesting PR:

http://biz.yahoo.com/prnews/070726/cnth013.html?.v=33


TBYH Expects Revenue Growth of 30-40% in FY07-08
Thursday July 26, 9:00 am ET


SHANGHAI, China, July 26 /Xinhua-PRNewswire-FirstCall/ -- T-Bay Holdings Inc. (OTC Bulletin Board: TBYH - News) today announced that for fiscal year 07-08, it expects the revenue growth in the range of 30%-40%, and net profit growth of 20-30%. The Company anticipates growth would be mainly attributed to additional design solutions it expects to introduce in the market, the continued strong performance of our existing customers and planned new projects including 3G products.
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The Company plans to release more than 30 total design solutions based on 4 chipset platforms in fiscal year 07-08, compared to 21 solutions based on one platform in fiscal year 06-07. This represents an anticipated 42.9% growth, and should enable the company to provide solutions covering high-end, mid-end and low-end markets.

Mr. Xiaofeng Li, the CEO of T-Bay said, "Our partnership with MTK, VIA, ANYKA, INFINEON, SKYWORKS has broadened our product lines. For the last fiscal year, we have made considerable investment in upgrading our equipment to improve our R&D capacity. We intend to continuously introduce new solutions with the world's most advanced technologies.''

''Another driver of revenue growth is from our existing customers. Currently, we have about 50 customers, most of whom performed well in the past few months. Based on the volume of purchase orders from our customers, we believe some of our big customers are gaining more market share,'' Mr. Li added. ''We have a diversified customer base which includes mobile handset manufacturers, brand name owners and distributors. We also expect to cooperate with telecom operators in the foreseeable future.''

"In addition, we expect new projects, including the RF design project, 3G extended products, as well as our new Fujian plant, will bring additional revenue from Q3 this year,'' Mr. Li said. ''We successfully achieved 38% growth in revenue with 21% growth in net profit for FY06-07, and we expect another good year with revenue growth of 30-40% and net profit growth of 20- 30%.''


Finally, I believe they also are trying to get to Nasdaq. I will check on that.

This is very undervalued chinese play that is trading at the trailing PE of 8.
And at forward PE of just above 3 for 2009.

It has very thin trading, not many follow it. So, be careful.

Make your own decisions. Good luck.