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RINO International Corporation Message Board

  • We are always on the lookout for small Chinese companies that make the move from the bulletin boards to the Nasdaq. Most recently, on Feb 18, we profiled SinoCoking (SCOK 25.41), a small Chinese coal company, that had just moved from the bulletin boards to the Nasdaq. We profiled it at $6, it is now at $25.41 (+320%) just a couple of weeks later. Also, L&L Energy (LLEN) is another name we have been following in our Emerging Growth rankings, it has tripled since August.

    China Gengsheng Minerals : This is probably the most interesting of the three. CHGS is an industrial products company in China that sells heat-resistant materials (ceramics, abrasives, refractories) primarily to steel producers who then use them in their furnaces and kilns. It is also branching into the solar industry, a growth area in China. It is in a trial production phase for a new abrasives product used to slice silicon ingots and polish solar panel surfaces. The co is profitable and Q3 revenue rose 16% yr/yr to $14.9 mln and EPS rose 40% to $0.07. While its top line growth is fairly modest, getting into the solar market should boost sales. Also, CHGS reminds us a bit of RINO. Both are industrial product companies serving the Chinese steel industry. CHGS begins trading on the NYSE Amex tomorrow. Mkt cap $64 mln, float 7.1 mln, avg vol 16k.

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