CXTI.OB - China stocks may outperform

[Livana]

CXTI came up on my radar about 2 weeks ago. I've been keeping on eye on it.  It looks like it's positioning itself for a buy (to confirm though).

I really like the company's financial though. They are most likely to get better results than last year.
Revenue
2004: $26.8 M
2005: $25.9 M on 9 months ending Sept. 05
Net Income
2004: $7.8 M
2005: $7.9 M on 9 months ending Sept. 05
Balance Sheet: Current Ratio between 3.5 and 4 for 2005
Cash Flow: Positive $3.2 M in 04, $2.5 M so far for 2005

[sebfr]

Buy CXTI -> triangle breakout on high volume

[setravis]

Volume back up.
Volume: 2,211,701
Avg Vol (3m): 186,225

[setravis]

A mover today !
Outstanding volume and price action....

52wk Range: 1.50 - 3.16
Volume: 4,469,304
Avg Vol (3m): 83,915.1


Technicals
Record Volume
Record Price High
Most Actives
Record Price Break Out
Gap Up
Percentage Gainer
 
Fundamentals
Earnings Expected on Nov 15

Key Data:
Market Cap (M): $75.22 
P/E Ratio: 24.40 
PEG Ratio: N/A 
Next Earnings: N/A
Last Analyst Rating: N/A

[422fwhp]

big news....but I couldn't get the link to work

China Expert Technology Signs Two New e-Government Contracts in China Totaling $60 million

http://biz.yahoo.com/prnews/061214/lnth005.html?.v=33

[422fwhp]

oh yeah....plz merge

[setravis]

"CXTI.OB" Threads have been Merged.
Please use the search before starting new threads on a Stock Pick.
Chances are a thread already exist.
So why not post whatever you have to comment about on that pick to that thread.
"Simplicity" My fellow traders.       
All history on a stock pick in 1 thread is awesome.       

Thank You....and good luck with all your trades....make some $$$



I will leave you today's closing chart .....nice

[goldieboox56]

http://biz.yahoo.com/prnews/061214/lnth005.html?.v=33

[setravis]

Press Release Source: China Expert Technology, Inc.


China Expert Technology Signs Two New e-Government Contracts in China Totaling $57 Million
Wednesday December 20, 8:30 am ET 
14 New e-Government Contracts Awarded Year-to-Date with a Total Contract Sum of $251.7 million


HONG KONG, Dec. 20 /Xinhua-PRNewswire/ -- China Expert Technology, Inc. (OTC Bulletin Board: CXTI - News), an emerging leader in providing large scale network infrastructure construction mainly for e-government projects for communities and municipal governments in China, today announced the Company has been awarded two new e-government contracts to construct e-government systems for 2 city governments in Fuzhou City, located within the Fujian Province.
Fuzhou City Mawei District Contract valued at $25 million

Implementation and services are tentatively set to commence in October 2007 with the completion date estimated for fall of 2010. The net contract sum after excluding hardware purchases on behalf of the customer and PRC Value Added business tax is $21.7 million. A consultant who facilitated this project is due a cash fee of approximately $0.9 million, payable within twenty business days from the contract signature date.

Fuzhou City Yongtai County Contract valued at $32 million

Implementation and services are tentatively set to commence in July 2007 with an expected completion date of June 2010. The net contract sum after excluding hardware purchases on behalf of the customer and PRC Value Added business tax is $28.5 million. A consultant who facilitated this project is due a cash fee of approximately $1.5 million, payable within twenty business days from the contract signature date.

Under the terms of the two contracts, China Expert Technology will be responsible for design and implementation of the following systems:


     - Hardware Platform Integration
     - Security Platform
     - Application Platform
     - Portal Website
     - Unified Administration Approval System
     - Coordinated Office System
     - Calling Center
     - Digital File Manager
     - Geographical Information System
     - Emergency Commanding System
     - Auxiliary Decision System
     - Social Medical Security Information System
     - Smart Card System
     - Information Database
     - e-Commerce System (for Fuzhou City Yongtai County only)

Mr. Huang Tao, Chairman of the Board of Directors of China Expert, stated, "With this latest contract we now have won over $360 million in e-government projects within the Fujian province since the Company's inception as our reputation and proven track record continue to be a differentiator in this market. There are 82 counties and cities located in Fujian and we have won contracts in 12 to date."

About the e-government project:

The e-government project is aimed at establishing a national electronic government system, in which existing and expected government networks and applied systems can be combined to form united technology standards and regulations and consequently a united national government service platform. The term e-government is a process in which the government is able to take advantage of modern information and communication technologies to integrate the management and service of government functions on the Internet, optimize and reform the government structures and working processes, and provide good and standard international administration and service to the society without time and space limitation.

About China Expert Technology, Inc:

CHINA EXPERT TECHNOLOGY, INC. ("CXTI") is a company listed on the OTC Bulletin Board in the USA (Trading Symbol: CXTI), with its subsidiaries (collectively the "Group") situated in Hong Kong and China. The group is specialized in providing large-scale network infrastructure construction (mainly e-government projects) for communities and municipal governments in China. The Group also utilizes its network with experts from various universities in China to deploy business and IT consultancy services to corporations in Hong Kong and China. The Group's existing major clients include municipal governments, government authorities and other technology firms in China. Its income is derived mainly from four areas, e-government, technology achievement appraisal, expert consultation and project database.

Safe Harbor under the Private Securities Litigation Reform Act of 1995: The statements which are not historical facts contained in this press release are forward-looking statements that involve certain risks and uncertainties including but not limited to risks associated with the uncertainty of future financial results directly and indirectly related to this contract with the Mawei District and Yongtai County of Fuzhou City, the regulatory and approval processes for this and other signed and pending contracts, the impact of competitive products on pricing, technological changes, the effect of economic conditions and other uncertainties as may be detailed in the Company's filings with the Securities and Exchange Commission.

    For more information, please contact:

    For the Company:                    Investors:
    Phoebe Lam                          Mathew Hayden
    China Expert Technology, Inc.       Hayden Communications, Inc.
    Tel:   +852-2802-1555               Tel:  +858-704-5065
    Fax:   +852-2583-9222               E-mail: [email protected]
    Email: [email protected]
--------------------------------------------------------------------------------
Source: China Expert Technology, Inc.

[422fwhp]

Time for re-entry for long position?

[422fwhp]

Updated chart and news:

http://biz.yahoo.com/prnews/070430/lnm010.html?.v=1

Earnings and CC after market close on Monday?  Anyone holding?
http://biz.yahoo.com/prnews/070504/hkf002.html?.v=55

[422fwhp]

Up 100% today!

[422fwhp]

Let's see if it can stay above the 9sma....good volume.

Anyone?

[la-onda]

be careful guys 

NYT article:

In China, a Rising Star Falters
By FLOYD NORRIS
Published: October 5, 2007

Not long ago, investors in a company called China Expert Technology thought they had a winner.

Profits were rising as the company got more contracts with local governments in China. The newest contract was from a different province, indicating the company's reputation was spreading. Even better, the company kept its books in accordance with United States accounting rules, rather than the presumably more flexible Chinese rules, and those books were audited by an affiliate of a major international accounting firm. And while it operated solely in mainland China, its headquarters and auditor were in Hong Kong. Seeing a bargain, one American hedge fund manager amassed a 20 percent stake in the company. Others owned convertible securities. Institutional investors had visited Jinjiang, a city in Fujian Province where the company had its first contract to provide what it called "e-government infrastructure and consulting services" to local Chinese governments, and had been impressed. "It was quite a show," said one money manager, who came away with the impression that the company had great influence with local officials.

After that contract, the company branched out to other parts of that province, and in July of this year it announced its first contract outside the province. In total, the announced contracts came to about $300 million, and the company was forecasting profit of $20 million this year and $35 million in 2008.

But then, a series of events left investors wondering what was going on. There is no proof of fraud, but then again there is not much evidence to the contrary.

In mid-July, the company said its chief financial officer had resigned for "personal reasons." Then the company disclosed that its chief operating officer had left at the end of May, "by mutual agreement." In August, it delayed the filing of its quarterly report.

After that, silence. Phone calls from investors were not returned, and the investor relations consultant hired by the company in the United States resigned, saying he could not get information either.

"We couldn't get management to respond," said Jeff Feinberg, the hedge fund manager who had accumulated a 20 percent stake. He began selling shares on July 24, a few days after the chief financial officer's departure was announced, and stepped up the sales after the company failed to file the quarterly report. But he still owns 1.6 million shares, about a quarter of his peak position.

The stock, above $7 a share in over-the-counter Bulletin Board trading before the news began to come out, has plunged. On Sept. 27, it leaped from 28 cents to 72 cents, when the company was heard from again. It filed a report with the Securities and Exchange Commission saying it had dismissed its auditors, BDO McCabe Lo Limited, on Aug. 17, although it did not explain the decision. That report was several weeks late, but some traders took heart from the attached letter from the auditors, which did not point to any problems with the company's books.

Perhaps more important, however, was the fact that the report showed that the company had moved its headquarters to mainland China.

On Monday, with the share price at 56 cents, the S.E.C. suspended trading. There were, it said, questions about the "accuracy and adequacy" of the company's financial condition.

That suspension will last through next week, and the S.E.C. will not discuss its investigation. One money manager, who owns China Expert securities that he now believes to be worthless, says his lawyers have been unable to confirm some of the contracts the company had announced.

Neither BDO McCabe Lo, the Hong Kong auditing firm, nor BDO International, the Brussels-based headquarters of the BDO network, which says it is the fifth-largest international accounting network, replied to e-mail messages seeking comment. Nor did China Expert's president.

There were warnings, at least in retrospect. China Expert had gone public in the United States through a merger with a shell company, rather than through an initial public offering, which would require that the prospectus be approved by the S.E.C. It had filed a registration statement with the S.E.C., but it was never approved.

Mr. Feinberg says that his fund is up almost 30 percent this year despite losses on China Expert and that profit on other Chinese companies traded in the United States have more than offset those losses. "We've made a lot of money over there," he said.

If this had happened to an American company, there would be numerous lawsuits filed by now. But suing in the United States, where China Expert has no assets or operations, appears useless, and no suits appear to have been filed in China, either.

Just because a company says it uses American accounting rules and trades in this country does not mean investors have the legal protections they have come to expect.

[422fwhp]

Up 150% today!