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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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

Interesting comments today and also in the Sunday Times article which is good to reflect on. Whilst corrections in HAIK shouldn't be ruled out at any time and we're likely to see 10/20% rises and falls or more, I'm not so sure I agree that we'll head back to 160. I'm more of the opinion that we're likely to see something in the region of 200/250p and then consolidation holding around 2 initially. The reason being is that we're more likely to see good news coming out of HAIK, be it expansion on target or ahead of target, sales increasing, changes to domestic pricing, rapid progression on the chemicals side. Supporting all this is a low PE for 2008 which irrespective of moving averages, RSI etc. still makes this look very cheap.

have a look too at my post on Drivers Tips re another article in Sunday Times

At the moment I am waiting on this one as well as off on holiday wednesday, hope to pick it up on my return

200p/205p soul traders!, you are excused.

Was Mr Wong wrong....

Morning all!

Mr. Wong doesn't care, as he has a new Jag and his geisha is happy.

Thanks, Canada, I feel profoundly relieved :o)

No new broker forecasts, but at 200p we're on a PE of 6 for 2008 according to existing predictions.

Any broker who wants to make my day is welcome to release an uprated forecast . . . .

china down 8.5% rest of the world not too bothered

This is why I think guys like Wong have been selling - covering his a***, either to make up for losses on his punts on the Chinese market, or just being ultra-prudent (and not playing the usual British director's game of holding on to his shares like grim death).

Morning soul traders, up and down day today, haik down, hawk up,lol.