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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Nicely up 25% already this morning

www.haikechemical.com

Not the kindest of spreads ,,,154/ 160 ....But a stock i like very much . ......These were 126p on Friday . Opened today @ 140 by mms who seem to like it . Seems like the market agrees with your analysis with adding a furthur 16p. Very strong buy signals @ 127/8 level ...Think ill wait until profit takers move in Try and get in around 140p .........lf poss, of course. .@+ J.

TFC, the beautiful bit in my mind is that the pricing has been kept back but with the WTO allowing a competitive market this looks a one way bet to me. Refining capacity is expected to increase rapidly producing allowing for a double effect to the bottom line. Results this month I believe.

I managed to sell part of my holding at 155 this morning, just to lock in some profit.
If the chinese bubble is looking shaky now, then all chinese stocks will suffer when the bubble bursts, imo.

Unbelievable - this can only be because I sold last week!!

Harrycat, what you're saying is of course true but think there's a lot of upside here starting with more news before the end of the month.

Small write up on back page of FT today.

Have doubled my position here this morning

And added a third tranche. There's so much good stuff to come here in my opinion. Anyone joining in????

Am still holding. Up 20% so far this morning. I would advise to keep locking in profit, gh.

Fantastic performance today and yet this is still so in its early days.

Some posters are banding around targets of 340p to 600p. Think there is defo more to come here

dp, I would agree but of course the timeframe could be a couple of years. That said I still think this is still so cheap even at these levels and have now taken four tranches here. The profit growth in 2006 was rapid and the new facilities set to open late this year will change things substantially in my opinion.

First quarter results out 24/5

the day before the last results, these went up 15p (12.5%) from memory. Hopefullywe willget a similar or greater jump this time

Good start to the day following Friday's fall of about 8% at one point and coming back to close flat. I expect the move back to 2 could be quick.

Q1 results make excellent initial reading:

Total revenue up 28%
Petrochemicals revenue up 15%
Speciality chemical up 87%
Biochemical revenue increaseedd 300%
Gross marging improved to 12.1%
Net profit increased by 625%

Capacity expansion for both refining and chemical plant on schedule.

Should fly?!

Agricultural Chemical stocks were featured in the FT this week - re fund managers out performance in China and some were talking about fertilisers being the next major growth. Don't forget our increased production of dimethyl carbonate (agricultural pesticides). This is still dirt cheap in my opinion.

have put it on the radar, well done greyhound...