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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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.

Morning Canada! I guess a little bit of P/T is to be expected after last week's recovery. Hangin' in there!

confess i am truly amazed that none of the UK-Chinese stocks have reacted at all to the grim fallout in Shanghai ..... nowt as strange as folks, nor share price movements it would seem!

I don't think the UK-Chinese stocks have been subject to quite the same bubble that has been going on in China. If you look at the massed mobilisation of liquidity (sorry - lots of PI's putting their life savings into stocks in a hurry!) in China then it's no surprise. Ebbs and flows, etc.

lng taking a bit of a kicking, waiting for some signs of a bottom, shudda taken the 23p high..doh!, brokers 67p target kept me holding. ldr results in the morning, pix unconditional on the 8th, hoping for more.

Looks like HAIK is starting to experience the crisis from the downslump of China stocks today...down 11p now.

sp has been in o'bought rsi territory for a while so is due for a correction ...... today's general market fallout is widespread with TMC being a very honourable exception ..... in fact, i think i saw that Shanghai had rallied sharply o'night, buyt i could be mistaken

Where's soul traders today?, it wasn't him throwing himself on the popemobile begging for forgiveness for trashing haik and hawk.

Nope, I threw myself under a train out of remorse over my lousy-stockpicking, but managed to get my timing wrong even there and when I fell off the platform it had already gone.

I didn't half feel like a twit having to pick myself up and walk back past all those commuters.

So I'm afraid I'm back to plague you :o)