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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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

Trading Update
HaiKe Chemical Group Limited the AIM quoted (AIM: HAIK) specialty chemical business based in Shandong Province, China, today provides an update on trading ahead of its final results for the twelve-month period ended 31 December 2016.

The Group has delivered a positive operational performance in the second half of the year driven by the Company's focus on higher margin chemical products, product innovation and cost controls. As a result, the Group anticipates that it will report a profit for the year ended 31 December 2016 considerably ahead of last year.

· Unaudited profit for the year was CNY18.1 million (2015: CNY4.1 million).
· Unaudited total revenues were CNY725.9 million, marginally below FY2015 (2015: CNY727.5 million).
· Unaudited gross margins increased to 15.8% (2015: 11.6%) as the Company continued to adjust its product mix. Sales of more profitable, high-end products accounted for 8.1% of 2016 sales (2015: 3.0%).
· Unaudited overall sales volumes were 125,395 tons which were comparable to FY2015 (2015: 125,098 tons).
· Unaudited average selling prices decreased by 1.8% to CNY5,529 / ton (2015: CNY5,629 / ton), in the face of strong competition.
· Unaudited selling expenses rose by 16.7% to CNY40.5 million (2015: CNY34.7 million) due to more aggressive sales and marketing activities in restrained market conditions.
· Unaudited general and administrative expenses increased by 22.2% to CNY50.3 million (2015: CNY41.2 million). This was attributable to increases in labour costs and R&D expenses of 15.9% and 35.6% respectively.
· Unaudited interest expenses dropped to CNY3.9 million (2015: CNY20.7 million) following repayment of bank loans during 2015. Total borrowings at 31 December 2016 were CNY80 million (30 June 2016: CNY80 million).
· At 31 December 2016 the Company's cash and cash equivalent balances were CNY57.2 million (30 June 2016: CNY73.5 million).