I the one that mentioned it. I think it means it will gap up and retest its previous high of .70 cents and hopefull it gets past .70 cents to perhaps test a buck. YEHAWWWWWWWWWWW! I still holding this one.
Glad i held onto my shares. Was hpping for news like this. Get out there and start pumping the heck out of this stock.
China Digital Communication Group Announces Preliminary Year End Results Monday March 6, 4:05 pm ET
--Issues Guidance for Accelerated Growth in 2006--
LOS ANGELES, CA and SHENZHEN, CHINA--(MARKET WIRE)--Mar 6, 2006 -- China Digital Communication Group (OTC BB:CHID.OB - News), one of the fastest growing battery components manufacturers in China, today announced its preliminary results for the year ended December 31, 2005 that exceeded its previously announced guidance issued on April 25, 2005. ADVERTISEMENT
China Digital reported preliminary total revenues of $12.7 million for the year ended December 31, 2005, an increase of 145% from total revenues of $5.2 million for the year ended December 31, 2004, and 11% greater than its previously announced revenue guidance of $11.4 million. China Digital reported preliminary net income of $2.7 million, or $0.05 per fully diluted share, for the year ended December 31, 2005, an increase of 517% from net income of $440,496, or $0.008 per fully diluted share, for the year ended December 31, 2004, and 4% greater than its previously announced net income guidance of $2.6 million.
China Digital attributed its growth to continued, robust demand for its lithium ion battery shell product line from mobile phone manufacturers, expanded production capacity by more than 40% as a result of relocating its wholly owned manufacturing subsidiary Shenzhen E'Jenie to a larger plant in the Xing Lian Industrial Zone, increased manufacturing efficiencies, and new customer orders as compared to 2004.
Guidance for the Year Ending December 31, 2006
The following projections are on a consolidated, pro-forma basis and include the acquisition of Zhuo Tong, which is expected to close in the second quarter of 2006. In order to present an accurate picture of revenue and profit trends, the results stated for 2006 consist of sales and profit from Zhuo Tong, as if China Digital had owned the subsidiary for the entire year.
For fiscal year 2006, China Digital projects total revenues of $26.5 million and net income of $7.6 million, or $0.10 per fully diluted share.
Chang Chun Zheng, CEO and Chairman of the Board of China Digital, said, "We have created a scalable operating platform that allows our two subsidiaries, E'Jenie and Zhuo Tong, greater access to shared resources, as well as provide significant cross-marketing and referral opportunities, which we believe can increase revenues by 100% year-over-year in 2006. If 3G systems are readily adopted in China, as we anticipate they will be, our initial projections for 2006 could be significantly higher due to increased demand for 3G components to power various telecommunicatons equipment and lithium ion mobile phone batteries. In addition to new markets, China Digital will continue to pursue business opportunities with a focus on achieving profitability through additional mergers and acquisitions within the telecommunication equipment and new energy industry fields."
rain, good luck with chid. I might try to get in on some of the action if it does not rise to much too early. I liked the guidance for 2006 and think they could do some serious business being in China.
I calculated out their 2006 PE given the $.10 tghey expect to do this year and they have a 2006 forward PE of ~5 which is dirt cheap given their explosive growth. If the market does not jump on it tomorrow it will soon enough. Good pick and this one should be a winner for you.