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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while 8.5 may be a fairly modest p/e, do remember that this just after Q1 so to extrapolate same for full year MAY be brave especially if you think about 300 is the target ..... at least today had good volume to support, which is more than can be said for yesterday (17k!)

F18, that's great, but you haven't taken account of the increased number of shares resulting from the flotation (Q1 figures were calculated using average number of shares in issue, which is a false friend). That's why my figures use quarterly earnings of just under 6p.

Cynic, 300p would be nice but for my purposes around 15% over a couple of weeks would suit :o)

Yes, I've turned into a short-term share-shark!

I believe that once new capacity is taken into account, Hanson Westhouse are expecting sales to be in excess of US$500m for 2008 and we should also continue to benefit from favourable tax rates for the next few years.

sensible chap soul* ..... i think all should also remember that though there are 40m shares in issue (i think i have that right), only 30% of these are actually "free float", thus severely restricting liquidity.

Greyhound, Hanson's estimate for 2008 EPS was 33p, but could also be in line for an upgrade?

Cynic, thanks. But with only 30% of the stock in free float, do you think the MM's will be able to cover my order? ;o)

(They did - got in at 200p dead. And the SP hasn't moved! Only 25K traded so far. Slow day ahead? Wait for the broker upgrades!)

Expect this to reach 250p within months or weeks.

Thanks Mitzy - that's certainly what I am hoping for :o) The fundamentals appear supportive (otherwise I wouldnt have got back in), so let's hope reality plays out that way!

Very small mention on back page of FT today but nothing to really light the fire!

Good call soul traders, lol, I thought is was just me that crashed shares.

Chuckle - nope! Anything I look at and decide is too pricy will add a minimum of 50% within a week (same goes for anything I sell!) and anything I buy will have the a*se ripped out of it until I sell, at which point the first part of the above Murphy's law will kick into effect.

Okay, that's not quite true - I have done well one one or two things recently, but have had more than my fair share of bad timing. Still, you live and learn, I hope.

Am sure that HAIK will recover given a new broker estimate (pleeeeze??!!) or some concerted insitutional buying.

I bort haik at 179p, managed to crash it to 165p, lol, bort 20,000 cpnr at 6.1p, managed to crash it to 1.75p, bl**dy brokers wouldn't even show them in my portfolio as having any value, so managed to dump them at the first trading oportunity, (4.6p)...doh, doh!!

You and me, Canada, we'd make such a team. Maybe we should enter that televised ice-dancing competition together!

Better still, you tell me what your buying and selling and I'll do the opposite, then I'll tell what I'm buying and selling and you can do the opposite, then we can divi up at the end of the year.

LMAO - might just work! I'll keep you posted! So I take it you've sold HAIK today? ;o)

Well done st, looks like you killed this one stone dead, ffs don't buy zoo and kill that one too ;o)

:o) Nope, ZOO I killed last time it started looking frisky

Are you sure you didn't buy any zoo, it was 42.25p to sell when I left, it's only 35p now!!

Good to see a little upward momentum returning in light of the continued "China bubble" debate.

Yep, enjoying a nice little bounce back today: HAIK Bid: 186p Offer: 192p Change: 10

Only 100k traded, mind.