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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HAIK Bid: 190p Offer: 193p Change: 12.5

This is more like it (and thank goodness, because Canada1 has now cancelled the contract he took out on my life for jinxing this stock!).

Hopefully the beginning of another upturn.



Volume of 137K is about to breach the average, showing how thinly this stock is usually traded.

Out of curiosity cynic why do you put SOLA ahead of HAIK? Fully aware Sola have the ability to expand capacity rapidly versus HaiKe, however HaiKe have high barriers to entry with expected very low PE in 2008. I'm long both incidentally.

probably only because I rather like SOLA's product/sector and I have managed to make some decent money from it both as a bull and a bear!

HAIK Bid: 191p Offer: 197p Change: 15

Director sales. Don't ask me why, but this guy had a tiny stake anyway and has sold it over the course of the last few days.

HaiKe Chemical Group - Director/PDMR Shareholding
RNS Number:6312X
HaiKe Chemical Group Ltd.
01 June 2007

HaiKe Chemical Group Ltd

('HaiKe' or the 'Company')


Director Shareholding

The Company has been notified that Mr Eugene Wong, a non-executive director of
the Company, today disposed of 20,000 Ordinary Shares of US$0.002 in the Company
at a price of 1.83 per share. Following the disposal Mr Wong no longer holds an
interest in the issued share capital of the Company.

Contract cancelled, soul. Just got back from lunch at the beach, got sh*t on by a seagull the size of a Giant Condor, so looking good for next week!, I see you've sold zoo, (thanks).

LOL - I'm on my way down to Bournemouth now. Will have to visit the beach and see if I can get "daubed" as well - it's supposed to bring luck.

Have a good weekend :o)

ST

Which begs the question was Mr Wong right?

Mr Wong would not sell if he thinks HAIK would continue to rise.

You know him personally then?

What a stupid comment!

Of course, he's my cousin, dickhead

Now now, children! Mind you, Hlyeo, that's a bit of a coincidence; I've got a Chinese cousin called Dickhead as well!

Personally I think Wong had some kind of personal financial issues and needed to clear out his shares. Probably got some expensive geisha on the go in Beijing.

(I hope he can't read this, as it's surely libellous. Maybe he's just buying a new Jag.).

Seriously (or as seriously as I can manage at 8 p.m. on a Friday), Wong was not a big shareholder - he held only a tiny fraction of a percent, so I really don't think his sale is representative.

Geisha or no geisha.

Hopefully next week will see us above 2.

Don't forget that the Chinese stock market has been at panic stations this past week or so, so Wong could have had all sorts of reasons for having a clear-out.

hlyeo, you have a genius for posting short sweeping statements across the whole of this BB, normally after the move has already taken place. I've lost count of how many times other posters have commented to me what a waste of space you are.

st. Exactly right.

in some ways i find it worrying that despite the fallout on the Chinese market, with it being quite likely that there is more to come, that the likes of SOLA, HAIK and WCC have held up very well ..... is this a sign of strength or mere indian rope trick?

lets not forget these stocks are on a different exchange under different rules, and are not the subject of widespread speculative trading by complete novices as in china share frenzy, so I don't see there being any reason why these shares should suffer the same % falls as the chinese listed stocks might (or should I say will). presumably they are not being overbought to anything like the same degree, latest figures have china index on p/e of 40+, whats this? alot less..

Aso re comments about Greenspan a week ago, he is now looking a bit of a fool for dropping US interest rates so far for so long, created a lovely bubble. So he's certainly not infallible.

may be on a different exchange but not on a different planet! ...... an article well worth reading in today's Sunday Times biz section - "Briton curbs China bosses".

It's a long article, but a small extract is below ......

".... this year's bubble in the Chinese stock markets could set off a chain of consequences for global investors. Undoubtedly there is going to be a huge correction at some point. It builds up like snow on a mountain."

That does not of course mean all will come tumbling tomorrow or even during the remainder of 2007, but the odds and timiing must surely be ever shorter.

Granted in any correction there are drops across the board, just saying I wouldn't expect the correction for HAIK to be as significant as China A and B shares.

Note though the article states "could".. there are other brokers stating that the global % in china is still not significant to upset rest of world too much, more concerning is USA, feb correction was a culmination of China and US sub-prime fears climaxing together. Since then there has been conflicting data suggesting US may not be sruggling as much as feared (also plenty saying it is), although it probably won't be long until the next data suggest otherwise and we all end up scratching our heads again!!! Truth is no one knows, ever changing hence it's attraction to the likes of us.

Your words of caution are wise, question is do you want to miss the subsequent rises waiting for something that may not happen for a while. My solution is to sell original stakes while building up equity from the profits, if it falls its in for free, will hopefully get more when it comes back up.

my portfolio is currently "full" and as i am going on hol in a couple of weeks and as i shall not be able to watch throughout the day as i do at the office, i shall assuredly be taking some money off the table.

i don't currently hold HAIK (did a few months back) but looking at the chart, albeit that it is such a new flotation, its value is limited, sp looks to have got too far ahead of itself ...... a correction back to about 160 (25 dma) is easily possible, even without any general market fallout