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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Be careful with this one, the China Petrochemcial sector is still in trouble, see the link below. If you are looking for Chinese companies who will benefit from the Stilumus, look to WCC (and also CHNS) is my view.


http://www.chinabidding.com/news.jhtml?method=detail&channelId=277&docId=3449489

Profits of China's Major Oil Companies Rise as Demand Recovers

Apr 25,2009

China's top five oil companies saw profits up 13.2 percent in March from the same period a year ago, as stimulus package pushed up energy demand, according to a report released by the China Petroleum and Chemical Industry Association (CPCIA).

Their March profits rose 160 percent from February to 28.25 billion yuan (4.15 billion U.S. dollars), according to the report released on Thursday.

The "top five" includes China National Petroleum Corporation, China Petroleum and Chemical Corporation, China National Offshore Oil Corp, Sinochem Corporation, and Shaanxi Yanchang Petroleum (Group) Co. Ltd.

The negative impacts of the global financial crisis on China's petrochemical sector was deepening, but the month-on-month figure showed signs of recovering as prices of some petrochemical products began to stabilize, said the report.

Analysts said the profit increase was due to the government decision to raise the prices of oil products. PetroChina's president Zhou Jiping said last month that the price rise would add 1.26 billion yuan of profits for the company every month.

However, the industrial value through January-March dropped 14 percent from a year ago, to 1.26 trillion yuan. The figure for March alone was 498.35 billion yuan, down 8.4 percent year on year, according to the report.

It is the first time in more than a decade that the petrochemical sector has seen declines in both industrial value and sales revenue. It is likely that the falling trend would continue in the second quarter, said Feng Shiliang, CPCIA deputy secretary.

He said the exports would continue to deteriorate, and the overcapacity would still be prominent.

HAIK is a proven lame duck.

another crap rocket and stick chinese stock to accompany TAIH
WCC is indeed the exception, though that is another very thinly traded stock

HAIK is still not moving despite China doing well.

Looks like this is on the move ..great % move on the last two trading day's,,,very few free float and results Sept. all IMO & DYOR

Just a pump and dump... nothing to be excited about.

39p bid opening on results to a current 17p offer online or lower.

Results were abysmal, might be some short closing for a bounce but
that's about it.

This will close shop soon.

This has 5p written all over it.

How wrong you are.

Another pump and dump, mitzy.

mitzy - make your mind up .... your usual crap is now enhanced by being totally contradictory

.

Grow up.

Perhaps Hlyeo got herself confused with mitzy?

perhaps mitzy is not only going but is using her potty

sp up 20% so far today?

HaiKe warns of full-year loss in 2012


HaiKe Chemical Group warns it will report a full-year loss after market conditions deteriorated.

The company says that while it continued to make good progress in developing niche speciality chemical products to generate higher margins, 2012 was difficult year for the refinery industry in China.

It says that while trading began positively in the second half, a deterioration in market conditions significantly affected trading in the last quarter, particularly in December, and as a result the company will report a loss for the year.

Other factors which affected performance included tighter margins, lower utilisation rates in the refinery division, and negative contribution from Hebang in its first year in operation.

The growth in trading of oil products has also been a major contributing factor to the increase in turnover.

Executive chairman Xiaohong Yang said: "2012 was a difficult year for the refinery industry in China. Despite the anticipated easing of the pricing mechanism, we expect the operating environment and domestic economy to remain a challenge for refineries in the current year.

"The speciality/salt and biochemicals divisions, our core growth businesses, delivered a profitable performance and looking forward, the board remains focused on the company's long term growth by continuing to develop and expand its higher margin speciality chemicals which we believe will improve the profitability of the group."

post 162 (nov 2009!) says it all .....

the CFO on their interims: interview