China Automative Revs Up Its Engine Again!posted by MR WAVETHEORY at 10/03/2007 07:31:00 AM
I checked out the China Automotive website. The company is based in Jinzhou. They have some very strong partnerships with the big auto makers in China - especially Chery Automotive which is their largest customer and Daimler Chrysler. Operating income doubled year over year to $6.5 million and net income was up 227% to $2.7 million. The fundamentals are very strong. It's a fairly impressive performance. If this stock is anything like the other Chinese stocks during the past few weeks, we could see $20-$30. I am still amazed at the performance of China Resources (Nasdaq CHNR) which I wrote about just last week in a piece called "The Real Reason China Resources is Going Up". The stock was trading at $14 a week ago and today it is $37! Up up and away!