3SOF

Quote from: Kublakhan on September 26, 2007, 03:43:42 AM
Shortin' time, huh?

At your own risk......

Year End 2007 China Precision Steel, Inc. Earnings Conference Call
Scheduled to start Wed, Oct 17, 2007, 9:00 am Eastern
Check back at the scheduled start time for
the audio link to appear in this spot.
Link....... http://biz.yahoo.com/cc/2/86082.html

52wk Range: 2.58 - 16.58
Volume: 9,452,543
Avg Vol (3m): 2,613,970

Technicals
Last Price Quote is:
15.52%above 13-day MA
63.50%above 50-day MA
RS Rating: 99 

Fundamentals
Key Data:
Market Cap (M): $368.55 
P/E Ratio: 36.82 
PEG Ratio: N/A 
Next Earnings: N/A
Last Analyst Rating: N/A

AP
China Precision's 2007 Profit Dips 1 Pct
Tuesday October 16, 10:55 am ET 
Increased Operating Expenses Trim China Precision Steel's Fiscal 2007 Profit by 1 Percent


NEW YORK (AP) -- China Precision Steel Inc. said Tuesday fiscal 2007 earnings slipped 1 percent as expenses from listing on the Nasdaq Capital Market and bad debt provisions offset a big revenue increase.


For the year ended June 30, the Shanghai-based company reported income of $8.3 million, or 29 cents per share, compared with $8.4 million, or 35 cents per share, the previous 12-month period.

Revenue for the year jumped 55 percent to $54 million from $34.9 million in fiscal 2006. Much of the increase stemmed from a 59 percent increase in volume of the company's precision steel products to 67,021 metric tons. Sales were particularly strong in the Philippines and Thailand, which accounted for 9 percent of total revenue.

Profit was hurt by a huge increase in operating expenses, which totaled $5.9 million in fiscal 2007 compared with $667,989 in fiscal 2006. The increase was primarily due to a $3.8 million provision for bad debts. The company did not record a provision for bad debts in fiscal 2006.

General and administrative expenses also rose substantially to $1.9 million from $505,764, from the amortization of intangible assets and fees for listing on the Nasdaq Capital Market.

Shares jumped $1.77, or 18.7 percent, to $10.90 in morning trading.

Takeover !!
Changed name from Oralab.......(OLAB)
CHINA PRECISION STEEL INC COM (NASDAQ: CPSL)


Thu, Jan 4, 2007
• ORALABS HOLDING CORP Files SEC form 8-K, Entry into a Material Definitive Agreement, Completion of Acquisition or Dis
EDGAR Online (Thu, Jan 4) 
Link... http://biz.yahoo.com/e/070104/cpsl8-k.html


Tue, Feb 13, 2007
• CHINA PRECISION STEEL, INC. Files SEC form 8-K, Entry into a Material Definitive Agreement, Financial Statements and
EDGAR Online (Tue, Feb 13) 
Link... http://biz.yahoo.com/e/070213/cpsl8-k.html

China Precision Steel Closes $47.9 Million Financing
Tuesday November 6, 6:31 pm ET


SHANGHAI, China, Nov. 6 /Xinhua-PRNewswire/ -- China Precision Steel (Nasdaq: CPSL - News), a niche precision steel processing company principally engaged in producing and selling high precision cold-rolled steel products, announced today that it has successfully completed the sale to certain institutional investors of an aggregate of 7,100,000 shares of its common stock at a purchase price of $6.75 per share and an aggregate of 1,420,000 warrants to purchase its common stock, for gross proceeds of $47,925,000. Roth Capital Partners, LLC acted as the placement agent for this registered direct transaction.
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"The market opportunity for high value ultra-thin precision steel remains strong. With this additional capital, we plan to expand our production capacity of high carbon and specialty precision steel as we build our dominant position in China and expand into international markets," commented Dr. Wo Hing Li.

China Precision Steel Announces First Quarter Fiscal 2008 Results
Wednesday November 21, 8:00 am ET


SHANGHAI, China, Nov. 21 /Xinhua-PRNewswire/ -- China Precision Steel (Nasdaq: CPSL - News), a niche precision steel processing company principally engaged in producing and selling high precision cold-rolled steel products, announced today its results for the first quarter of fiscal 2008 ending September 30, 2007.

     2008 First Fiscal Quarter Highlights
     -- Revenue increased 141% period-over-period to $25.3 million
     -- Volume of precision steel sold increased 191% to 28,683 metric tons
     -- Gross profit was $5.1 million, up 36.8% period-over-period
     -- New cold-rolled mill currently operating at 40% capacity

"Our continued revenue growth this quarter is the result of increased sales of our low-carbon and high-carbon cold-roll steel products. Our capacity is gradually increasing with our second cold-rolled mill currently operating at 40% utilization," commented Dr. Wo Hing Li, China Precision Steel's Chairman and CEO. "Volume sold of precision steel products is up 191% as we continue to increase our market share."

Revenue for the first quarter of fiscal 2008 was $25.3 million, up 141% from $10.5 million in the first quarter of fiscal 2007. The increase in revenue was driven by increased sales of high carbon and low carbon cold rolled steel resulting from the Company's increased capacity and the continued development of its brand in China. Sales volume of precision steel products increased to 28,683 tons, up 191% from 9,859 tons in the first quarter of fiscal 2007. High carbon and low carbon products accounted for 59% and 40%, respectively, compared to 64% and 35%, respectively, in the same period a year ago. Revenue from exports was $1.5 million, or 6% of total revenues.

Gross profit in the first quarter of fiscal 2008 was $5.1 million, up 36.8% from gross profit of $3.7 million in the same period a year ago. Gross margin was 20.0% compared to 35.3% from the prior year period. The gross profit margin was negatively impacted by a change in sales mix in the current quarter, which resulted in increased sales of lower margin products in the high-carbon cold-rolled steel product line. Gross margin was also negatively impacted by higher depreciation costs associated with the addition of a second mill, which increased cost of sales.

Operating expenses were $1.2 million, or 4.8% of revenue, compared to $236,302 or 2.2% of revenue, in the first quarter of fiscal 2007. The increase in operating expenses was primarily due to a provision for bad debts of $625,998 recorded in the first quarter of fiscal 2008. Administrative expenses increased due to the amortization of intangible assets, compliance costs associated with the Company's U.S. regulatory and reporting requirements and higher salaries and wages. Selling expenses increased principally due to higher transportation expenses resulting from a broader customer base, including exports, as well as an increase in the frequency of deliveries.

Operating income for the first quarter of fiscal 2008 was $3.8 million, up 10.8% from operating income of $3.5 million in the same quarter last year.

Net income for the first quarter of fiscal year 2008 was $2.9 million, unchanged from $2.9 million in the same period of the prior year. Fully diluted earnings per share were $0.08 compared to $0.12 in the comparable period a year ago. Weighted average diluted shares outstanding for the quarter increased to 37.4 million, reflecting an increase of about 14.1 million shares principally related to a private placement of the Company's equity securities in February 2007.

Financial Condition

As of September 30, 2007, China Precision Steel had $6.0 million in cash and cash equivalents, total liabilities of $41.2 million and working capital of $19.2 million. Shareholders' equity stood at $54.9 million compared to $51.1 million as of June 30, 2007.

Business Outlook

China Precision Steel's new cold-rolled mill with 150,000 metric tons of design capacity is operating at 40% utilization. It is expected to reach 50% utilization by the end of calendar year 2007. The Company has plans to commence the construction of a third mill with 150,000 metric tons of capacity in the first quarter of 2008.

"We are continuing with our plans to expand our production capacity. We recently completed a registered direct financing for net proceeds of $44 million. With the additional funds, we are in the position to begin construction on our third mill at the beginning of 2008," commented Dr. Li. "We are expanding our capacity to meet the market demand in China for high quality precision steel. We have recently embarked on several new R&D projects, which include cold rolled steel used in drawer guidance rails and in double layer welded pipes for various industrial applications."

Subsequent Events

On November 6, 2007, China Precision Steel completed a registered direct offering to certain institutional investors of an aggregate of 7,100,000 shares of its common stock at a purchase price of $6.75 per share and an aggregate of 1,420,000 warrants to purchase its common stock, for net proceeds of approximately $44 million. Approximately $18 million of the net proceeds will be used to purchase a new hydrogen annealing furnace and a new 1700 mm cold rolled mill, approximately $22 million will be used to repay certain existing bank debt, and the balance will be available for general corporate purposes.

On November 12, 2007, at the Annual Meeting of the Company's shareholders in New York City, the Company's shareholders approved the reincorporation of the Company in the state of Delaware. The reincorporation was effected on November 16, 2007 through a merger with and into the Company's wholly-owned subsidiary.

About China Precision Steel

China Precision Steel is a niche precision steel processing company principally engaged in the production and sale of high precision cold-rolled steel products and provides value added services such as heat treatment and cutting medium and high carbon hot-rolled steel strips. China Precision Steel produces high precision ultra-thin, high strength (7.5 mm to 0.05 mm) cold- rolled steel products primarily for automotive components, food packaging materials, saw blades and textile needle manufacturing companies in the People's Republic of China. However, China Precision Steel is expanding into overseas markets such as Nigeria, Thailand, Indonesia and the Philippines, and intends to expand into Japan, the European Union and the United States in the future.

Conference Call

China Precision Steel will host a conference call on Monday, November 26 at 9:00 am EST to discuss first quarter of fiscal 2008 results. To participate in the live conference call, please dial the following number five to ten minutes prior to the scheduled conference call time: 888-482-0024. International callers should dial 617-801-9702. When prompted by the operator, mention conference pass code 102 675 65.

If you are unable to participate in the call at this time, a replay will be available for seven days starting on Monday, November 26, 2007 at 11:00 a.m. Eastern Time. To access the replay, dial 888-286-8010 and enter the pass code 41024398. International callers should dial 617-801-6888 and enter the same pass code 41024398.

This conference call will be broadcast live over the Internet and can be accessed by all interested parties by clicking on http://www.chinaprecisionsteelinc.com . Please access the link at least fifteen minutes prior to the start of the call to register, download, and install any necessary audio software. For those unable to participate during the live broadcast, a 90-day replay will be available shortly after the call by accessing the same link.

Forward-Looking Statements

Safe Harbor Statement Under the Private Securities Litigation Reform Act of 1995: Certain statements in this press release and oral statements made by China Precision Steel on its conference call in relation to this release, constitute forward-looking statements for purposes of the safe harbor provisions under The Private Securities Litigation Reform Act of 1995. These statements include, without limitation, statements regarding our ability to prepare the company for growth, the Company's planned manufacturing capacity expansion in 2007 and predictions and guidance relating to the Company's future financial performance. We have based these forward-looking statements largely on our current expectations and projections about future events and financial trends that we believe may affect our financial condition, results of operations, business strategy and financial needs but they involve risks and uncertainties that could cause actual results to differ materially from those in the forward-looking statements, business conditions in China, weather and natural disasters, changing interpretations of generally accepted accounting principles; outcomes of government reviews; inquiries and investigations and related litigation; continued compliance with government regulations; legislation or regulatory environments, requirements or changes adversely affecting the businesses in which China Precision Steel is engaged; cyclicality of steel consumption including overcapacity and decline in steel prices, limited availability of raw material and energy may constrain operating levels and reduce profit margins, environmental compliance and remediation could result in increased cost of capital as well as other relevant risks not included herein. The information set forth herein should be read in light of such risks. You are urged to consider these factors carefully in evaluating the forward-looking statements herein and are cautioned not to place undue reliance on such forward-looking statements, which are qualified in their entirety by this cautionary statement. The forward-looking statements made herein speak only as of the date of this press release and the Company undertakes no duty to update any forward-looking statement to conform the statement to actual results or changes in the company's expectations.


                        -- Financial Tables Follow --


                  China Precision Steel, Inc. and Subsidiaries
                 Condensed Consolidated Statements of Operations
             For the Three Months Ended September 30. 2007 and 2006
                                   (Unaudited)

                                                  2007               2006

    Revenues
     Sales revenues                           $25,312,698        $10,503,348
     Cost of goods sold                        20,245,135          6,800,098
     Gross profit                               5,067,563          3,703,250
    Operating expenses
     Selling expenses                             100,705             39,697
     Administrative expenses                      486,377            186,188
     Provision for bad debts                      625,998                 --
     Depreciation and amortization expense         13,632             10,417
     Total operating expenses                   1,226,712            236,302

    Income from continuing operations           3,840,851          3,466,948

    Other income (expense)
     Other revenues                                 9,155                 --
     Interest and finance costs                  (442,141)          (203,339)
     Total other income (expense)                (432,986)          (203,339)

    Net income from continuing operations
      before income tax                         3,407,865          3,263,609
    Provision for (benefit from) income tax
     Current                                     (182,977)           929,370
     Deferred                                     690,116           (475,009)
     Total income tax expense                     507,139            454,361
    Net income before discontinued operations   2,900,726          2,809,248
    Net income from discontinued operations            --            155,072
    Net income                                 $2,900,726         $2,964,320

    Basic earnings per share
     From continuing operations                     $0.08              $0.11
     From discontinued operations                   $  --              $0.01
     Total                                          $0.08              $0.12
    Basic weighted average shares
     outstanding                               37,378,143         24,283,725
    Diluted earnings per share
     From continuing operations                     $0.08              $0.11
     From discontinued operations                   $  --              $0.01
     Total                                          $0.08              $0.12
    Diluted weighted average shares
     outstanding                               38,397,325         24,283,725




                  China Precision Steel, Inc. and Subsidiaries
                      Condensed Consolidated Balance Sheets

                                                   (Unaudited)
                                                  September 30,    June 30,
                                                       2007          2007
                      Assets

    Current assets
     Cash and equivalents                           $6,049,792    $5,504,862
     Accounts receivable
       Trade, net of allowances of $908,008 and
        $273,461 at September 30, 2007 and June
        30, 2006, respectively                      14,103,862     8,242,044
       Bank acceptance notes                        14,862,667
       Other                                            19,362        85,708
     Inventory                                       7,827,785    15,723,704
     Deposits                                               --        82,758
     Prepaid expenses                                   14,702            --
     Advances to suppliers, net of allowance of
      $2,305,637 and $3,502,184 at September
      30, 2007 and June 30, 2006, respectively      11,521,415    11,699,918

    Total current assets                            54,399,585    41,338,994

    Property and equipment
     Land use rights                                 1,475,342     1,124,583
     Property and equipment, net                    29,290,837    29,238,227
     Construction-in-progress                       10,846,113    10,355,763

                                                    41,612,292    40,718,573

    Goodwill                                            99,999        99,999

    Total assets                                   $96,111,876   $82,157,566

       Liabilities and Stockholders' Equity

    Current liabilities
     Accounts payable and accrued liabilities       $3,537,985    $4,855,932
     Advances from customers                         8,286,100     1,720,812
     Other taxes payables                            2,054,814       716,554
     Current income taxes payable                    2,197,655     1,892,866
     Deferred income taxes payable                   1,791,265     1,064,028
     Amounts due to directors                          845,523            --
     Current portion of long-term debt                      --     6,163,445
     Notes payable                                  16,490,833     9,842,520

    Total current liabilities                       35,204,175    26,256,157

    Long-term debt, net of current portion
     shown above                                     6,008,889     6,878,714

    Stockholders' equity:
     Preferred stock: $0.001 per value,
      8,000,000 shares authorized, no
      shares outstanding at June 30, 2007
      and 2006
     Ordinary stock: $0.001 par value,
      62,000,000 shares authorized,
      37,378,143 and 24,283,725 issued and
      outstanding June 30, 2007 and 2006                37,378        37,378
     Additional paid-in capital                     31,867,063    31,867,063
     Accumulated other comprehensive income          3,085,407     2,192,160
     Retained earnings                              19,908,964    17,008,238

    Total stockholders' equity                      54,898,812    51,104,839

    Amounts due from directors                              --    (2,082,144)

    Total liabilities and stockholders' equity     $96,111,876   $82,157,566




                   China Precision Steel, Inc. and Subsidiaries
                 Condensed Consolidated Statements of Cash Flows
              For the Three Months Ended September 30, 2007 and 2006
                                   (Unaudited)

                                                   2007          2006
    Cash flows from operating activities

     Net Income                                $2,900,726     $2,964,320
     Adjustments to reconcile net income
      to net cash provided by (used in)
      operating activities
       Depreciation                               493,613        260,892
       Less income from discontinued
        operations - Oralabs, Inc                      --       (155,072)
       Provision for doubtful accounts            625,998             --
     Net changes in assets and
     liabilities:
       Accounts receivable, net               (21,208,354)       981,606

       Inventories                              8,039,005     (8,236,768)

       Advances to suppliers                      284,972     (4,506,824)
       Deposits                                    82,758       (196,233)
       Prepayments                                (14,702)            --
       Accounts payable and accrued
       expenses                                (1,362,136)    10,805,570
       Advances from customers                  6,549,629      2,976,867
       Deferred income taxes                      690,166       (475,009)
       Current income taxes                      (182,977)       929,370
       Taxes payable                            1,826,668        139,996

    Net cash provided by operating
     activities                                (1,274,634)     5,488,715

    Cash flows from investing activities
     Purchases of fixed assets including
      construction in progress                 (1,016,793)    (5,230,112)

    Net cash (used in) investing
     activities                                (1,016,793)    (5,230,112)

    Cash flows from financing activities

     Advances from directors, net               2,946,615     (3,894,566)
     Notes payable proceeds                    16,490,833      4,233,252
     Repayments of notes payable              (17,084,041)            --

    Net cash provided by financing
     activities                                 2,353,407        338,686

    Effect of exchange rate                       479,950         97,772

    Net increase (decrease) in cash               541,930        695,061

    Cash and cash equivalents, beginning
     of year                                    5,504,862        186,955

    Cash and cash equivalents, end of
     year                                      $6,046,792       $882,016

Stock's On Fire Today!

Stock up 20% this AM!!! 

Running

Updated chart look...

SmallCapInvestor.com
China Precision Steel, City Telecom and Pyramid Oil lead small-cap percentage gainers
Monday May 19, 12:51 pm ET
Will Atkinson


China Precision Steel Inc (NasdaqCM:CPSL - News), City Telecom Ltd (NasdaqGM:CTEL - News) and Pyramid Oil Co (AMEX:PDO - News) are among the biggest percentage gainers in Monday's trading among companies with market capitalizations under $750 million.

Royale Energy Inc (NasdaqGM:ROYL - News), China Technology Development Group Corp (NasdaqCM:CTDC - News) and Cheniere Energy Inc (AMEX:LNG - News) are also among the biggest percentage gainers.

Here are the biggest percentage gainers among small caps:

China Precision Steel Inc. (CPSL) TraderNote – CPSL Announces Q3 2008 Revenue Increase of 61 Percent Year-over-Year to $18.7 Million

China Precision Steel Inc. (CPSL) shares are up nearly 22 percent to $7.32, maintaining Friday's 38 percent climb. China Precision is a steel processing company engaged in the manufacture and sale of high precision cold-rolled steel products in China.  It sells its products in China, Nigeria, Thailand, Indonesia and the Philippines.

China Precision recently announced that revenues for the third quarter of fiscal 2008 were $18.7 million, up 61 percent from $11.6 million in the third quarter last year.  The company attributes the sales revenue increase to production increases and exports of low carbon hard-rolled steel coils and subcontracting income during the quarter.

China Precision produces and sells precision ultra-thin and high strength cold-rolled steel products with thicknesses ranging from 7.5 mm to 0.03 mm.  It also provides heat treatment and cutting of medium and high carbon hot-rolled steel strips.

The company's precision products are primarily used in the manufacture of automobile parts and components, plane friction discs, appliances, food packaging materials, saw blades, textile needles, microelectronics, packing and containers.

In last Friday's daily chart, almost all technical indicators of CPSL are pointed north.  The RSI indicator so far, with a reading of 87 percent, reflects a bullish signal with the line steeply directed upward and no indication of an exhausted condition.  MACD indicator reflects a strong bullish signal with the histogram reading above the 0 level at 0.184 and the 12-day and 26-day EMAs also above 0 at 0.232 and 0.048, respectively, indicating an increase in moving averages.  Slow Stochastic indicator with readings so far of 86.22 %k and 72.21 %D reflects a bullish signal with the lines steeply directed upward and no indication of an exhausted condition.  The same chart also reflects a technical trading gap formed by the May 15 close at $4.34 and May 16 open at $5.57, indicating a strong bullish signal as initiated by an upward reversal of the stock. 

If a stock can officially be on fire, it is CPSL, Shares have moved from under $4.00 to over $7.50 in two days.
The company deserves it and may have further to run, its 52-week high is $12.65.
The building boom in China is likely to help CPSL for several years. The risks in the company are the rising costs of iron, which could pinch margins, and any sharp drop in China's GDP. So far, so good.

CPSL's large production facility only operates at 50% capacity now. That is something of a drag on expenses, but it means as the company grows, it should not have large capex.

Owning a company like this with Chinese GDP going up 10% per annum is a license to steal.

Insiders own 58% of this stock, so.....
Keep an eye on inside trading, WATCH CLOSELY and learn. If they hold tight this baby is a 'rocketman'.....

Volume doesn't lie, this puppy will go more.......

In the area of a 61.8% Fib retrace.......

DALLAS, Dec 31, 2008 (BUSINESS WIRE) -- For the fourth quarter and for the year 2008, the Halter USX China Index (HXC) was down 23.08% and 56.67% respectively. During the same period (fourth quarter and year end), the Dow Jones Industrial Average decreased by 19.12% and 33.84% respectively, while the NASDAQ finished down 24.27% and 40.54%.

HXC is also pleased to announce the inclusion of 16 new constituents to its existing index of China-focused, U.S. listed companies including: Advanced Battery Technologies, Inc. (ABAT, Trade) designs, manufactures, and markets rechargeable polymer lithium-ion (PLI) batteries; AirMedia Group, Inc (AMCN, Trade) operates digital media network in China for air travel advertising; A-Power Energy Generation Systems (APWR, Trade) designs, constructs, and tests distributed power generation and micro power grids; ATA, Inc. (ATAI, Trade) provides computer-based testing services; BMP Sunstone Corporation (BJGP, Trade) operates as a pharmaceutical and over-the-counter manufacturing, marketing, and distribution company; China Architectural Engineering (CAEI, Trade) engages in the design, manufacturing, installation, and maintenance of structural glass and light structure building; China INSOnline Corp. (CHIO, Trade) operates as an Internet service and media company; China Natural Resources, Inc. (CHNR, Trade) engages in the exploration, mining, and development of zinc, iron, and other minerals; China Precision Steel, Inc. (CPSL, Trade) engages in the manufacture and sale of high precision cold-rolled steel products; AgFeed Industries, Inc. (FEED, Trade) engages in the research and development, manufacture, marketing, and sale of fodder and blended feed; HLS Systems International, Ltd. (HOLI, Trade) designs, develops, produces, sells, installs, and maintains automation and control equipment and systems; Harbin Electric, Inc. (HRBN, Trade) develops, engineers, manufactures, and sells customized linear motors, motor/controller automation systems, automobile specialty micro-motors, and other special motors; Jinpan International Limited (JST, Trade) engages in the design, manufacture, and sale of cast resin transformers for voltage distribution equipment; and Vimicro International Corp. (NASDAQ; VIMC) designs, develops, and markets semiconductor products and solutions.

It was also announced that China Techfaith Wireless Communication Technology Limited (CNTF, Trade), Origin Agritech Limited (SEED, Trade), Spreadtrum Communications Inc. (SPRD, Trade), Hurray! Holding Co., Ltd. (HRAY, Trade), Webzen Inc. (WZEN, Trade), China Housing & Land Development, Inc. (CHLN, Trade), China Direct, Inc (NASDAQ: CDSDD), SORL Auto Parts, Inc (SORL, Trade), Ninetowns Internet Technology Group Company Ltd. (NINE, Trade), Linktone Ltd (LTON, Trade), HSW International, Inc. (HSWI, Trade), and Deswell Industries Inc (DSWL, Trade) were removed from the Index.

About the Halter USX China Index

The Index, created by the Halter Financial Group and calculated and distributed by the Amex, is comprised of companies whose common stock is publicly traded in the United States and the majority of whose business is conducted within the People's Republic of China. The Halter USX China Index was created in response to the unique economic opportunities taking place in China, as well as the current dynamics in the United States capital markets. While there is strong demand for Chinese equity, U.S. investors still seek and prefer the transparency offered with a U.S. listing. For a company to be included in the Halter USX China Index it must conduct a majority of its business in China, maintain an average market cap of over $50 million for the preceding 40 trading days, trade on the NYSE, Amex or NASDAQ and be approved by USX Selection Committee. Investors can gain exposure to the Index by either investing in an exchange traded fund (ETF), the PowerShares Golden Dragon Halter USX China Portfolio (DSWL, Trade) or by purchasing an actively managed mutual fund, the Halter Pope USX China Fund (Symbol: HPCHX). For more information please visit www.usxchinaindex.com. The following 104 public companies currently comprise the Halter USX China Index:

3SBio, Inc. (SSRX)

51 Job, Inc. (JOBS)

Acorn International, Inc. (ATV)

Actions Semiconductor Co (ACTS)

Advanced Battery Technologies, Inc. (ABAT)

AgFeed Industries, Inc. (FEED)

Agria Corp. (GRO)

AirMedia Group, Inc (AMCN)

Aluminum Corp. of China Ltd. (ACH)

American Dairy, Inc (ADY)

A-Power Energy Generation Systems (APWR)

AsiaInfo Holdings, Inc. (ASIA)

ATA, Inc. (ATAI)

Baidu.com, Inc. (BIDU)

BMP Sunstone Corporation (BJGP)

Canadian Solar, Inc. (CSIQ)

CDC Corp (CHINA)

China Architectural Engineering (CAEI)

China Automotive Systems Inc (CAAS)

China BAK Battery, Inc. (CBAK)

China Digital TV Holdings Co., LTD. (STV)

China Eastern Airlines Corporation Ltd. (CEA)

China Finance Online (JRJC)

China Fire & Security Group (CFSG)

China Information Security Technology, Inc (CPBY)

China INSOnline Corp. (CHIO)

China Life Insurance Co Ltd (LFC)

China Medical Technologies, Inc. (CMED)

China Mobile Hong Kong Ltd. (CHL)

China National Offshore Oil Corp. (CEO)

China Natural Resources, Inc. (CHNR)

China Nepstar Chain Drugstore Ltd. (NPD)

China Unicom Ltd. (CHU)

China Petroleum and Chemical Corp (Sinopec) (SNP)

China Precision Steel, Inc. (CPSL)

China Security & Surveillance Technology, Inc. (CSR)

China Sky One Medical, Inc. (CSKI)

China Southern Airlines Company Ltd. (ZNH)

China Sunergy Co. Ltd. (CSUN)

China Telecom Corporation Ltd (CHA)

China Unicom Ltd (CHU)

China Yuchai International Ltd. (CYD)

ChinaCast Education Corp. (CAST)

ChinaEdu Corp. (CEDU)

Chindex International Inc (CHDX)

Cninsure, Inc. (CIS)

Cogo Group, Inc. (COGO)

Ctrip.com (CTRP)

E-House (China) Holdings Limited (EJ)

eLong (LONG)

Focus Media Holding Ltd. (NASDAQNM: FMCN)

Fuqi International, Inc. (FUQI)

Fushi International, Inc (FSIN)

General Steel Holdings, Inc. (GSI)

Giant Interactive Group, Inc. (GA)

Global Sources Ltd (GSOL)

Guangshen Railway Co Ltd (GSH)

Gushan Environmental Energy Ltd. (GU)

Harbin Electric, Inc. (HRBN)

HLS Systems International, Ltd. (HOLI)

Home Inns & Hotels Management, Inc. (HMIN)

HuaNeng Power International, Inc. (HNP)

JA Solar Holdings (JASO)

Jinpan International Limited (NASDAQ; JST)

KongZhong Corporation (KONG)

LDK Solar Co. Ltd. (LDK)

Longtop Financial Technologies Limited (LFT)

Medical International Limited (MR)

Nam Tai Electronics Inc (NTE)

Netease.com, Inc. (NTES)

New Oriental Education & Technology Group, Inc. (EDU)

Noah Education Holdings, Ltd. (NED)

Perfect World Co., Ltd. (PWRD)

PetroChina Co. Ltd. (PTR)

Qiao Xing Mobile Com (QXM)

Qiao Xing Universal Telephone, Inc. (XING)

Semiconductor Manufacturing International Corp (SMI)

Shanda Interactive Entertainment Ltd (SNDA)

Shengdatech Inc (SDTH)

Simcere Pharmaceutical Group (SCR)

Sina Corporation (SINA)

Sinopec Shanghai Petrochemcial Co. Ltd. (SHI)

Sinovac Biotech, Ltd. (SVA)

Sohu.com, Inc. (SOHU)

Solarfun Power Holdings Co., Ltd. (SOLF)

Suntech Power Holdings Co. Ltd. (STP)

Sutor Technology Group, Ltd. (SUTR)

The9 Limited (NCTY)

Tiens Biotech Group (TBV)

Tongjitang Chinese Medicines (TCM)

Trina Solar Limited (TSL)

UTStarcom Inc (UTSI)

Vimicro International Corp. (NASDAQ; VIMC)

VisionChina Media Inc. (VISN)

Wonder Automotive Technology, Inc. (WATG)

WSP Holdings Ltd. (WH)

Wuhan General Group (China), Inc. (WUHN)

WuXi Pharma Tech (Caymen) Inc. (WX)

Xinhua Finance Media Limited (XFML)

Xinyuan Real Estate Company Ltd. (XIN)

Yanzhou Coal Mining Co. Ltd. (YZC)

Yingli Green Energy Holdings Co. Ltd. (YGE)

Yucheng Technologies Limited (YTEC)

Zhongpin, Inc. (HOGS)

The information in this news release includes certain forward-looking statements that are based upon assumptions that in the future may prove not to have been accurate and are subject to significant risks and uncertainties, including statements to the future financial performance of the Company. Although the Company believes that the expectations reflected in its forward-looking statements are reasonable, it can give no assurance that such expectations or any of its forward-looking statements will prove to be correct. Factors that could cause results to differ include, but are not limited to, successful performance of internal plans, product development and acceptance, the impact of competitive services and pricing, or general economic risks and uncertainties.

SOURCE: Halter USX China Index


 
Halter USX China Index   
Chelsea Augustine, 972-233-0300 

Copyright Business Wire 2008




 
 

SHANGHAI, China, Dec 31, 2008 /PRNewswire-Asia via COMTEX/ -- China Precision Steel, Inc. (CPSL, Trade) ("China Precision Steel" or the "Company"), a niche precision steel processing company principally engaged in producing and selling high precision cold-rolled steel products, today announced that it has filed a universal shelf registration statement on Form S-3 with the U.S. Securities and Exchange Commission (the "SEC"), on December 30, 2008. The shelf registration, when declared effective, will permit China Precision Steel to issue up to an aggregate of $40 million in securities.

The shelf registration provides the Company with flexibility to publicly offer and sell securities from time to time, in one or more separate offerings or other transactions, with size, price and terms to be determined at the time of issuance, and at times when the Company believes that market conditions make such an offering attractive. The Company does not have any commitments or current intentions to sell securities under the registration statement at this time.

"We have no current plans to raise additional capital," commented Dr. Wo Hing Li, China Precision Steel's Chairman and CEO, "but we believe that it is prudent to have a shelf registration statement in place to ensure financing flexibility should the need arise."

This press release shall not constitute an offer to sell or the solicitation of an offer to buy, nor shall there be any sale of any securities in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such jurisdiction. Any offering may be made only by means of the prospectus and a related prospectus supplement.

About China Precision Steel, Inc.

China Precision Steel, Inc. is a niche precision steel processing Company principally engaged in the production and sale of high precision cold-rolled steel products and provides value added services such as heat treatment and cutting medium and high carbon hot-rolled steel strips. China Precision Steel produces high precision ultra-thin, high strength (7.5 mm to 0.05 mm) cold- rolled steel products primarily for automotive components, food packaging materials, saw blades and textile needle manufacturing companies in the People's Republic of China. China Precision Steel is expanding its penetration in overseas markets such as Nigeria, Thailand, Indonesia and the Philippines. China Precision Steel was incorporated in 2002 and is headquartered in Sheung Wan, Hong Kong. Additional information can be found at the Company's website http://chinaprecisionsteelinc.com .

Safe Harbor Statement

This press release contains certain statements that may include "forward looking statements." All statements other than statements of historical fact included herein are "forward-looking statements." These forward-looking statements are often identified by the use of forward-looking terminology such as "believes," "expects" or similar expressions, involve known and unknown risks and uncertainties. Although the Company believes that the expectations reflected in these forward-looking statements are reasonable, they do involve assumptions, risks and uncertainties, and these expectations may prove to be incorrect. You should not place undue reliance on these forward-looking statements, which speak only as of the date of this press release. The Company's actual results could differ materially from those anticipated in these forward-looking statements as a result of a variety of factors, including those discussed in the Company's periodic reports that are filed with the Securities and Exchange Commission and available on its website ( http://www.sec.gov ). All forward-looking statements attributable to the Company or persons acting on its behalf are expressly qualified in their entirety by these factors. Other than as required under the securities laws, the Company does not assume a duty to update these forward-looking statements.


 
    For more information, please contact: 
    China Precision Steel, Inc. 
     Dan Carlson, Director 
     Email: [email protected] 
    Elite IR 
     Leslie J. Richardson, Partner 
     Tel:   +852-3183-0283 
     Email: [email protected] 

SOURCE China Precision Steel, Inc.



http://chinaprecisionsteelinc.com 

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