China Direct, Inc. Reports Financial Results for First Quarter of 2007 and Provides Updated Guidance for Fiscal 2007
Wednesday May 9, 1:43 pm ET
- 1st Quarter Revenues Increase to $30.9 million
- 1st Quarter Earnings Increase to $0.14 per share
- Total Assets Increase to $30.6 million
Im looking to buy this soon ;)
http://china.seekingalpha.com/article/35157 (http://china.seekingalpha.com/article/35157)
China Direct's Chang Magnesium Subsidiary Receives Multiple Orders for Pure Magnesium Valued at Over $23 Million >:D
Monday June 18, 1:22 pm ET
Company Sees Continued Strong Demand Throughout 2007
BOCA RATON, Fla., June 18 /PRNewswire-FirstCall/ -- China Direct, Inc. (OTC Bulletin Board: CHND - News), a company maintaining active, majority stakes in a diversified portfolio of Chinese companies as well as offering consulting services for both private and publicly traded Chinese entities, today announced that its Chang Magnesium Company, Limited ("Chang Magnesium") subsidiary has received multiple purchase orders for its pure magnesium valued at over $23 million based on the current price per ton on the world market. The orders will be shipped at various times throughout the remainder of 2007 via Excel Rise Technologies Company, Limited, a wholly owned subsidiary of Chang Magnesium. The orders have been received from a number of different companies including Alcoa Australia Rolled Products and Canada Aluminum.
ADVERTISEMENT
Chang Magnesium continues to see strong demand from its current customers as well as new customers seeking to purchase magnesium from its refinery and distribution operations. As previously announced, magnesium prices have risen substantially in 2007 and management at Chang Magnesium believes the current worldwide demand will continue to increase in the coming years.
Commenting on these new orders, Dr. James Wang, Chairman and CEO stated, "Our magnesium operations continue to see robust demand. We will opportunistically support those operations with China Direct resources in an effort to maximize the growth potential in this expanding industry."
About China Direct, Inc.
China Direct, Inc. maintains active, majority stakes in a diversified portfolio of Chinese companies operating in multiple industries. Additionally, the Company provides consulting services for both private and publicly held Chinese entities. China Direct's mission is to utilize our unique platform to empower emerging growth Chinese entities to effectively compete while becoming recognized as global enterprises. As a direct link to China, our Company serves as a vehicle to allow investors to participate directly in the rapid growth of Chinese economy through the success of our portfolio of partners and clients. For more information about China Direct, please visit http://www.cdii.net.
wow! it has doubled