HRBN #2?
Yucheng Technologies Ltd. Announces its Listing on the NASDAQ Capital Market
Wednesday March 14, 10:04 am ET
http://biz.yahoo.com/prnews/070314/cnw010.html?.v=27
BEIJING, March 14 /Xinhua-PRNewswire/ -- Yucheng Technologies Ltd. today announced that its common stock and warrants have commenced trading on NASDAQ Capital Market under the symbols YTEC and YTECW respectively, effective today -- Wednesday, March 14, 2007.
Yucheng Technologies Ltd., a leading IT solution and services provider to the local Chinese banking industry, is the combination of Beijing Sihitech Technology Co., Ltd., Beijing e-Channels Technology Co., Ltd., and China Unistone Acquisition Corporation. It was previously traded on the OTCBB under the symbols YCHTF.OB and YCHWF.OB upon the consummation of its merger on November 24, 2006.
Yucheng Technologies Ltd. is the first local Chinese IT solution and services provider to the Chinese banking industry to be listed on NASDAQ. Weidong Hong, CEO of Yucheng Technologies Ltd., stated: "We are thrilled to be listed on the NASDAQ Capital Market, which brings international public company prestige to our existing market leadership position, our strong local management team, and proven track record in the banking IT segment in China. Being a NASDAQ listed company, Yucheng will be in an even better position to be the preferred and trusted local choice to provide the IT solutions and services that local Chinese banks increasingly need to expand their capabilities and enhance their competitiveness in an increasingly open financial services industry."
About Yucheng Technologies Ltd.
Yucheng Technologies Ltd. (Nasdaq: YTEC; YTECW) is an IT solution and services provider to the Chinese banking industry. Headquartered in Beijing, China, Yucheng has established an extensive footprint to serve its banking clients nationwide with five subsidiaries and representative offices located in Shanghai, Guangzhou, Xi'an, Xiamen, and Chengdu. Yucheng currently has more than 660 employees across China. Yucheng provides a comprehensive suite of IT solutions and services to Chinese banks ranging from system integration and IT consulting, to IT solutions, software platform, and outsourced operations. Yucheng counts 12 out of the 15 top local commercial banks in China as its customers, and is especially strong in banking channel management IT solution and services, such as web banking and call centers. It has the largest market share in the web banking application market in China by user base according to a third party research report. Most recently, Yucheng made a strategic investment to provide risk management services to meet its clients' growing demand in this area driven by its profit conscientiousness and Basil Accord II compliance. Yucheng is ranked one of the top five IT solution providers, along with IBM and Digital China by IDC's "China Banking Industry IT Solution 2006-2010 Forecast and Analysis" report released in September 2006. Yucheng management team consists of industry veterans with extensive experience in serving the Chinese banking industry.
http://biz.yahoo.com/prnews/070314/cnw010.html?.v=27
Wednesday, March 14, 2007
Thursday, March 8, 2007
Harbin Electric continues to deliver. Earnings are out and they look good. I expect the stock to hit high teens in less than 6 months. (it already gained over 60% from original DD at $8.10)
4Q06 Revenues Increase 66.9% to $12.0 Million
Fiscal 2006 Revenues Increase 70.9% to $40.4 million
http://biz.yahoo.com/prnews/070308/cnw007x.html?.v=1
Net Income for 2006 increased to $18.4 million, or $1.01 per diluted share, compared to $10.0 million, or $0.67 per diluted share, for 2005. This increase was driven mainly by increased operating income and the non cash gain of $6.4 million, or $0.35 per diluted share, included for the change in fair value of warrants.Our total fully diluted share count at the end of 2006 was 18,306,569 compared to 15,143,891 at the end of 2005. The increase was driven by warrants granted to investors and options granted to employees during 2006.
Highlights for the Fiscal Year 2006 include:
- Entering into a joint research and development agreementwith the Institute of Electrical Engineering of the ChineseAcademy of Sciences ("IEECAS") to produce a train andsystem to be tested at the Beijing Airport railway line inthe People's Republic of China by the end of 2008;
- Closing of a US$50.0 million debt financing with CitadelEquity Fund Ltd. and Merrill Lynch International;
- Strengthening of our Board of Directors by adding 3 newindependent board members;
- Commenced construction of new manufacturing facility in theShanghai Zhuqiao Airport Industrial Zone focused onautomobile market.
Tuesday, February 6, 2007
Yucheng Technologies (YCHTF.OB)
Potential long term stock - Yucheng Technologies. YCHTF.OB (has warrants YCHWF.OB, which I like more).
Lots of info on it can be found here:
http://www.secinfo.com/dVut2.vbdf.htm
Basically, it's a new Chinese entity combined from a couple of companies purchased by China Unistone and renamed to Yucheng Technologies.
Here is a little on the deal:
China Unistone was organized to effect a business combination with an operating business that is based in China and that has significant growth potential. After the consummation of the stock purchase and redomestication merger, the operating companies of Yucheng will be Sihitech, and its subsidiaries, and e-Channels, all of which are located in China. Together these companies will provide IT services and system integration, web banking, and electronic multi-channel software and solutions to the Chinese banking industry. These companies, founded in the late 1990's have, collectively, demonstrated significant growth since commencing operations. China Unistone believes that the operating companies have the infrastructure in place to expand their business through cross selling, increase their customer base, and develop new services and products. As a result, China Unistone believes that a business combination with Sihitech and e-Channels will provide China Unistone stockholders with an opportunity to participate in a combined company with significant growth potential.
The combined company conists of Sihitech and e-Channels companies. Here is something for 2005:
In 2005, Sihitech and e-Channels had combined revenues of $25.2 million and total net income of $3.1 million. Post closing, Yucheng will have six operating subsidiaries which include Sihitech, e-Channels, Beijing Sihitech Software, Shanghai Sihitech, Shanghai Sihitech Software and Guangzhou Sihitech. There also will be two representative offices in Fuzhou and Xian. The combined company will have a combined employee staff of approximately 550 employees.
It's a profitable entity with significant growth and huge profits margins. (read SEC)
Their business plan is to hit these profits (not revenues):
2007 $ 8,500,000
2008 $ 11,900,000
2009 $ 16,700,000
2010 $ 23,300,000
They have 9.5m O/S with a lot less in float. And already 3.2m in profits. Plus, they just purchased another profitable company:
http://biz.yahoo.com/bw/070122/20070122006146.html?.v=1
BEIJING--(BUSINESS WIRE)--Yucheng Technologies Ltd. (YCHTF.OB, YCHWF.OB) today announced that its wholly owned subsidiary, Beijing Yucheng Technologies, signed a stock purchase agreement to acquire 100% ownership of Sunrisk Information Technology Ltd., a Beijing based risk management solution and service provider to Chinese banks. The consideration for the acquisition of the stock of Sunrisk Information Technology Ltd. was all cash deal which was partially paid at the time of acquisition, with the balance due on January 31, 2007 and March 31, 2008 based on the 2006 and 2007 results of operations. For 2006, Sunrisk's unaudited revenue was approximately US$ 1,536,000 (RMB 12 million) and unaudited net profit was US$ 960,000 (RMB 7.5 million) under US GAAP.
So, here is what Yucheng does:
Yucheng Technologies Ltd. is an IT solution and services provider to the Chinese banking industry. Headquartered in Beijing, China, Yucheng has established an extensive footprint to serve its banking clients nationwide with five subsidiaries and representative offices located in Shanghai, Guangzhou, Xian, Xiamen, and Chengdu. Yucheng currently has more than 600 employees across China. Yucheng provides a comprehensive suite of IT solutions and services to Chinese banks from system integration and IT consulting, to IT solutions, software platform, and outsourced operations. Yucheng counts 12 out of the 15 top commercial banks in China as its customers. Yucheng is especially strong in banking channel management IT solution and services, such as web banking and call centers. It has the largest market share in the web banking application market in China by user base according to a third party research report. Yucheng is ranked one of the top five IT solution providers, along with IBM and Digital China by IDC's "China Banking Industry IT Solution 2006-2010 Forecast and Analysis" report released in September 2006. Yucheng management team consists of industry veterans with extensive experience in serving the Chinese banking industry.
Finally, I believe they applied for Nasdaq....according to SEC documents...I like the warrants (strike price is $5, expiration - 11/2008
Lots of info on it can be found here:
http://www.secinfo.com/dVut2.vbdf.htm
Basically, it's a new Chinese entity combined from a couple of companies purchased by China Unistone and renamed to Yucheng Technologies.
Here is a little on the deal:
China Unistone was organized to effect a business combination with an operating business that is based in China and that has significant growth potential. After the consummation of the stock purchase and redomestication merger, the operating companies of Yucheng will be Sihitech, and its subsidiaries, and e-Channels, all of which are located in China. Together these companies will provide IT services and system integration, web banking, and electronic multi-channel software and solutions to the Chinese banking industry. These companies, founded in the late 1990's have, collectively, demonstrated significant growth since commencing operations. China Unistone believes that the operating companies have the infrastructure in place to expand their business through cross selling, increase their customer base, and develop new services and products. As a result, China Unistone believes that a business combination with Sihitech and e-Channels will provide China Unistone stockholders with an opportunity to participate in a combined company with significant growth potential.
The combined company conists of Sihitech and e-Channels companies. Here is something for 2005:
In 2005, Sihitech and e-Channels had combined revenues of $25.2 million and total net income of $3.1 million. Post closing, Yucheng will have six operating subsidiaries which include Sihitech, e-Channels, Beijing Sihitech Software, Shanghai Sihitech, Shanghai Sihitech Software and Guangzhou Sihitech. There also will be two representative offices in Fuzhou and Xian. The combined company will have a combined employee staff of approximately 550 employees.
It's a profitable entity with significant growth and huge profits margins. (read SEC)
Their business plan is to hit these profits (not revenues):
2007 $ 8,500,000
2008 $ 11,900,000
2009 $ 16,700,000
2010 $ 23,300,000
They have 9.5m O/S with a lot less in float. And already 3.2m in profits. Plus, they just purchased another profitable company:
http://biz.yahoo.com/bw/070122/20070122006146.html?.v=1
BEIJING--(BUSINESS WIRE)--Yucheng Technologies Ltd. (YCHTF.OB, YCHWF.OB) today announced that its wholly owned subsidiary, Beijing Yucheng Technologies, signed a stock purchase agreement to acquire 100% ownership of Sunrisk Information Technology Ltd., a Beijing based risk management solution and service provider to Chinese banks. The consideration for the acquisition of the stock of Sunrisk Information Technology Ltd. was all cash deal which was partially paid at the time of acquisition, with the balance due on January 31, 2007 and March 31, 2008 based on the 2006 and 2007 results of operations. For 2006, Sunrisk's unaudited revenue was approximately US$ 1,536,000 (RMB 12 million) and unaudited net profit was US$ 960,000 (RMB 7.5 million) under US GAAP.
So, here is what Yucheng does:
Yucheng Technologies Ltd. is an IT solution and services provider to the Chinese banking industry. Headquartered in Beijing, China, Yucheng has established an extensive footprint to serve its banking clients nationwide with five subsidiaries and representative offices located in Shanghai, Guangzhou, Xian, Xiamen, and Chengdu. Yucheng currently has more than 600 employees across China. Yucheng provides a comprehensive suite of IT solutions and services to Chinese banks from system integration and IT consulting, to IT solutions, software platform, and outsourced operations. Yucheng counts 12 out of the 15 top commercial banks in China as its customers. Yucheng is especially strong in banking channel management IT solution and services, such as web banking and call centers. It has the largest market share in the web banking application market in China by user base according to a third party research report. Yucheng is ranked one of the top five IT solution providers, along with IBM and Digital China by IDC's "China Banking Industry IT Solution 2006-2010 Forecast and Analysis" report released in September 2006. Yucheng management team consists of industry veterans with extensive experience in serving the Chinese banking industry.
Finally, I believe they applied for Nasdaq....according to SEC documents...I like the warrants (strike price is $5, expiration - 11/2008
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."
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."
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.
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