Sharp rise this morning in this Chinese oil refinery company. Tipped over the weekend in Small Company Share Watch to be the next ReneSola. Changes in the way pricing operates since China joined WTO is set to change the company dramatically, plus results in the coming weeks could surprise on the upside.

www.haikechemical.com

Quarter 1 update

First Quarter 2007 Highlights

- Total revenues increased by 28% to US$ (or '$') 73.9m (2006Q1: $57.9m)

- Petrochemical revenues increased by 15% to $56.1m (2006Q1: $48.6m)

- Speciality chemical revenues increased by 87% to $17.0m (2006Q1: $9.1m)

- Biochemical revenues increased by 300% to $0.8m (2006Q1: $0.2m)

- Gross margin improved to 12.1% (2006Q1: 7.2%) to $8.9m (2006Q1: $4.1m)

- Net profit after tax increased by 625% to $5.8m (2006Q1: $0.8m)

- Net profit (after minority interests) increased by 650% to $4.5m
(2006Q1: $0.6m)





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for goodness sake guys!! ..... what is with you?? ..... why did you not cut your losses before? .... the writing has been on the wall for a while .... this is another of these damn chinese stocks into which so many of you have allowed yourselves to be suckered when clearly from day 1 there was limited free market and liquidity.

I'm already out but should have stuck with rigid stop-loss. C'est la vie!

glad to hear it, though i agree it is sometimes tough to obey the discipline ..... could point the finger at myself re TMC which not so long ago was running at a really good profit, but has now been sent to the dungeon to contemplate its sins against humanity.

I still think it is a good company but generally I'm changing my view from being a bull to thinking that the real turmoil in the markets is yet to happen. Recession maybe.

It doesn't always work to cut your losses, I bailed out of sola when it dropped from 234p to 181p, only to see it go to over 600p !

True but that was only some 22% fall on thoses prices. I still think the fundamentals are good and the oil price doesn't effect the company as severely as being interpreted but I don't see any support now from a charting perspective. If we do tumble I may revisit....

and SOLA has today struggled back up to 300 ..... in fact, by judicious trading (one i got right almost the whole time by good fortune) there was a lot of money to be made in both directions

HAIK is 87.5p today.

HAIK is shit ...... SOLA merely tries to emulate!

Total shite...it smells...HAhaha

hlyeo98 suggest you read your posts 27 & 28 great company!!

not a fair gibe ..... back in May the prospects for the company and sp looked very rosy, as was (briefly) proven ...... however, things change, as is now the case here ..... a similar parrallel could be drawn with NRK!

I'm no longer a holder and have lost money but I don't believe it is a bad company. It is actually performing very well and is expanding its high margin speciality chemicals business. It has been effected by the rising oil price however I've spoken to management on a number of occasions and this is where they could have better educated the market place as they're able to switch products so that they are not so greatly effected. It will probably fall further but I wouldn't write it off.

She's away, can't buy any now!!!!!!

As I mentioned above they should have advised the market of this some time back and managed this better!

this is a chinese company .... don't expect transparency in anything

With Turkey hotting up now as well with the PKK issue, things could get exciting on oil prices and perhaps new highs again. All we need now is a good cold winter and we might see the elusive 100$ a barrel, which of course is not good news for the likes of HAIK.


http://money.cnn.com/2007/10/24/markets/oil_eia/index.htm?

Oil surges after surprise inventory drop

Inventory report shows unexpected declines in crude, gasoline, and distillate supplies.

By Keisha Lamothe, CNNMoney.com staff writer
October 24 2007: 3:45 PM EDT

NEW YORK (CNNMoney.com) -- Oil prices rallied Wednesday after a government report showed an unexpected drop in inventories.

U.S. light crude for December delivery settled up $1.83 to $87.10 a barrel on the New York Mercantile Exchange. Oil traded down 22 cents to $85.05 just prior to the report's release, then rose as high as $87.20 before pulling back a little.

In its weekly inventory report, the Energy Information Administration said crude stocks plunged by 5.3 million barrels last week. Analysts were looking for an increase of 300,000 barrels, according to a Dow Jones poll.

"Crude should have been able to maintain a more modest decline, if not some growth," said John Kilduff, an energy analyst at MF Global in New York. "Now there are renewed worries over supplies."

Gasoline supplies fell by 2 million barrels while distillates, used to make heating oil and diesel fuel, slipped by 1.8 million barrels. Analysts were expected gasoline stockpiles to grow by 1.1 million and distillates to rise by 200,000.

"Distillates and gasoline supplies compared to last year are down significantly," Antoine Halff, head of energy research at Fimat in New York.

Refinery activity fell last week by 0.2 percentage point to 87.1 percent of capacity. Analysts ...................................

http://www.resourceinvestor.com/pebble.asp?relid=38972

High Price of Oil is Chinese Petroleum Industry's Biggest Woe

By Terry Wang
21 Dec 2007 at 09:11 AM GMT-05:00


SHANGHAI (Interfax-China) -- The high price of oil is the Chinese petroleum and chemical industry's biggest problem, in addition to over investment and a low number of purchases, the China Petroleum and Chemical Industry Association (CPCIA) said in a report released on Tuesday in Beijing.

According to the report, high oil prices have diminished profit margins. Furthermore, an overabundance of investment, a common phenomenon in China, has caused overcapacity. Meanwhile, too few purchases has led to oversupply.

The report also said that some coal chemical projects can take advantage of these problems to be more competitive.

Some analysts expressed different opinions about the chemical industry's profitability in regards to high oil prices.

Shi Xuesong, a chemical industry analyst with China International Capital Corp., told Interfax that domestic demand for chemical products will be strong in 2008 because of rapid economic development. Downstream petrochemical companies, except for refining companies, can transfer the pressure of high costs to consumers.

But Liu Yanwei, a senior engineer with the China National Petroleum & Chemical Planning Institute, said that some chemical projects, which are fed with oil and gas, will experience additional pressure because of production costs.

"Because of rapid economic growth, the chemical industry will indeed have a large potential and will develop rapidly in coming years," Liu said. "However, the industry's profit margin will go down because of higher production costs."

According to the CPCIA report, China's petroleum and chemical industry's profits for 2007 will reach RMB 500 billion ($67.67 billion), up 20% year-on-year.

Liu said that most of the profits go to the upstream sector of the industry. Some Purified Tetrathalyc Acid (PTA) projects, a part of the downstream sector, have even suspended production recently because of high oil prices, he said.

Liu also said that the rise of chemical product prices do not match increases in production costs, so some downstream companies have had to lower the workload of their projects or carry out maintenance on production facilities, a common practice that forces the closure of facilities when it is unprofitable to operate them.

Liu said that natural gas prices are also very high for industrial users.

The National Development and Reform Commission (NDRC) released a notice in September limiting natural gas utilization in ammonia production and banning new natural gas-based methanol projects, with the intent of giving priority to city gas utilization. "Even if there was no such notice, natural gas prices are already too high to bring companies sufficient profits anyway," Liu said.

Liu agreed with the CPCIA report that coal chemical projects will have an opportunity to become more competitive if oil prices stay at such a high level.

"Coal prices are also increasing, but they will not skyrocket like oil prices. In addition, some alternative energy products, including methanol and dimethyl ether, which are produced from coal, will also have a promising future, since they will have lower production costs compared to gasoline and diesel," he said.

If the local producers refuse to make it at a loss, then import more and pressure the local producers margins even more. Such is the Communist system, the people come first and business last when it comes to emotive subjects like fuel prices, which can ultimately effect the support of the Communist Party, into such a big event as the Olypmics, don't want any riots or rallies provoked by high fuel prices now do we............ ;)


http://www.abcmoney.co.uk/news/262007188800.htm

China to cut import tariff on gasoline, diesel, jet fuel to one pct - UPDATE

Published : Wed, 26 Dec 2007 09:39
By : Agencies

BEIJING (XFN-ASIA) - China will cut import tariff on gasoline, diesel and jet fuel to one pct from the current 2 to 6 pct, from January 1, the Ministry of Finance said.

The import tariff for naphtha will be cut to one pct from the current 2 pct, while the duty on fuel oil will remain at 3 pct, it said.

The ministry also said that export tariff on crude oil will remain at 5 pct.

The move is aimed at curbing oil products exports amid surging domestic demand.

China, the world's second largest energy consumer, has faced fuel shortages since October due to gap between surging international crude prices and domestic state-capped fuel prices.

PetroChina and China Petroleum & Chemical Corp (Sinopec) have been urged to boost fuel imports to ease the supply crunch, although the firms will incur a loss on sales.

China imported 31.15 mln tons of oil products in the 11 months to November, down 9 pct from the same period last year, according to recent data from the Customs.

86p to 141p, not bad for a heap of c***, any chance of popping over to the bxp thread and slagging them off, they pay a nice 15% dividend but the shareprice is in the toilet.