ChinaSecurities

Net revenues increased by 36.8% to US$11.9 million for the second quarter of 2009 from US$8.7 million for the same period in 2008. As a result of continued sales growth from key products, gross profit increased by 38.1% to US$11.0 million for the second quarter of 2009 from US$7.9 million for the same period in 2008. Gross margin increased by 0.9% to 92.0% for the second quarter of 2009 from 91.1% for the same period in 2008. GAAP operating expenses were RMB49.2 US$7.2 million for the second quarter of 2009, an increase of 25.8%.

The Company an improvement in market conditions in the third quarter as recruitment activity and job openings increased compared to the early part of 2009. Total revenues increased 5.1% over Q3 2008 to US$32.2 million, exceeding the Company's guidance range of US$29 million to $30.46 million.

For the third quarter of 2009, total net revenues grew 28.0% to $91.8 million from $71.7 million for the third quarter of 2008. Gross profit for the third quarter of 2009 was $40.1 million, up 15.5% compared to $34.7 million for the third quarter of 2008. Gross margin was 43.7% in the third quarter of 2009, down from 48.4% in the same period in 2008. Net income from continuing operations was $2.5 million compared to an $11.9 million net loss for the third quarter of 2008.

For the first quarter of fiscal year 2010 ending March 31, 2010, Actions Semiconductor estimates revenue in the range of $6.5 to $7.5 million, gross margin of approximately 35%, and operating expenses slightly higher on a sequential basis. The first quarter 2010 estimates include share-based compensation expense in the range of $0.9 to $1.0 million.

On May 18th 2009, Agria Corporation issued the following statement: In view of the unusual market activity in the Company's stock, the New York Stock Exchange has contacted the Company and requested that the Company issue a public statement indicating whether there are any corporate developments which may explain the unusual activity. The Company stated that it knows of no material events that would cause unusual market activity.

Gross Profit for the Year Ending September 30th 2008 of $6.6 Million. he Group's principal activity is to develop, manufacture and distribute of antibiotics, cardiovascular and anti cancer drugs primarily in Mainland China.

Revenue increased 94.1% to $72.1 million in the third quarter of 2009 from $37.2 million in the third quarter of 2008. Net income from continuing operations for the third quarter of 2009 was $11.1 million, or $0.52 per diluted share, compared to a loss of $22.1 million, or ($1.32) per diluted share, in the prior year period. Net income attributable to ordinary shareholders increased to $11.1 million, or $0.52 per diluted share, from a loss of $20.2 million, or ($1.19) per diluted share in the prior year's period.

Net revenues for the third quarter of 2009 increased to $38.7 million, an increase of 5.3% from $36.7 million for the third quarter of 2008. Gross profit increased 17.9% year-over-year to $9.1 million and Gross margin was 23.5%, compared to 21.0% for the third quarter of 2008. American Lorain also reported a 0.9% increase in Net Income of $4.5 million.

Three customers provided 60%, 23%, and 17% of the Company's revenue for the three months ended December 31, 2008 for an aggregate percentage of 100%. At December 31, 2008, the Company had $ 58,693 of accounts receivable due from these customers. For the three months ended December 31, 2008, two vendors provided 91% of the Company's inventory purchase. As of December 31, 2008, the Company had $30,166 in accounts payable to the vendor.

Revenues for the quarter ended September 30, 2009 were $8,723,481 as compared to $6,628,597 for the quarter ended September 30, 2008 and compared to $7,577,969 for the second quarter of 2009. The increase in revenues of $2,094,884, or 32% compared to 2008 was mainly due to increased (a) product license revenue from mobile games, one-time downloads, (b) monthly subscription revenues for 3G games derived from mobile operators, bulk resellers and hand set distributors and (c) license revenues from the sale of our mobile diabetes and mobile property solutions.

The company generated revenue of $1.39 million for the 12 months ending September 30, 2008. This resulted in a gross profit of $430,000 for the period.

Recently signed a Letter of Intent to Acquire Clean Coal Company Through Acquisition of Singapore-Based BCBC Singapore Pte Ltd., a Subsidiary of White Energy Corporation.

ATA, Inc. provides computer-based testing services in the People’s Republic of China. The company offers its services for the creation and delivery of computer-based tests based on its proprietary testing technologies and test delivery platform. Q209 revenues grew 3.9% yoy to %7,570,000.

Revenue for the third quarter of 2009 increased 106.3% to approximately $15.6 million compared to $7.5 million for the third quarter of 2008. Net income was approximately $3.1 million in the third quarter of 2009, a 459.1% increase compared to $0.6 million for the third quarter of 2008. The company maintains an effective tax rate of 24.0% at September 30, 2009. Diluted earnings per share were $0.13 for the third quarter of 2009 compared to $0.02 for the third quarter of 2008, based upon 23.7 million and 23.2 million shares.

Net income for the third quarter of 2009 was $25.3 million, or $0.69 per diluted share, compared to $17.7 million, or $0.49 per diluted share, for the second quarter of 2009 and $11.1 million, or $0.31 per diluted share, for the third quarter of 2008. Shipments for the third quarter of 2009 were 102.6 MW, compared to shipments of 48.2 MW for the second quarter of 2009 and 60 MW for the third quarter of 2008. Net revenues for the third quarter of 2009 were $213.1 million, compared to net revenues of $114.2 million for the second quarter of 2009 and $252.4 million for the third quarter of 2008.

CDC Corporation reported revenue of (U.S.)$76.6 million and net income attributable to controlling interest of (U.S.)$5.6 million, or (U.S.) $0.05 per share. This compares to revenue of (U.S.)$104.1 million and a net loss attributable to controlling interest of $10.0 million, or a loss per share of (U.S.) $0.09 for the third quarter of 2008. Based on preliminary financial results and estimates, its profit guidance for 2009 is revised upward and it expects net income attributable to controlling interest to be in the range of $17.2 - $19.3 million and Adjusted EBITDA (a) to be in the range of $50.2 - $51.5 million.

Gross profit for the third quarter of 2009 was $4.0 million compared to $11.8 million in the same period of the prior year. Third quarter 2009 gross margin was 9.1% as compared to 15.0% for the three months ended September 30, 2008.

A leading provider of ready-mix concrete in China, recently announced that it has been awarded two new contracts totaling approximately $4.2 million to provide concrete manufacturing services for the Hangzhou-Ningbo railway construction project. Under the agreement, China ACM will supply approximately 550,000 cubic meters of concrete.

China Agro Sciences Corp. focuses on the manufacture, sale, and distribution of herbicides and pesticides in the People’s Republic of China. The company’s products include low toxic pesticides and herbicides, such as Acetochlor, Razesor, Emamectin benzoate, and Clethodim. Its herbicides and pesticides are used to reduce or eliminate the amount of agricultural produce lost to plant diseases and insects. The company is based in Dalian, the People’s Republic China.

Revenues Exceed $34 Million for 2008. Income From Operations Reached $860,000 in 2008, up From a Loss of ($406,000) in 2007. China America Holdings is a holding company which owns a 56% stake in Shanghai Aohong Chemical Co., Ltd. based in Shanghai, China.

2nd Quarter Revenue Reaches a Record $13.1 Million;2nd Quarter Net Income Increases to a Record $1.85 Million; 2nd Quarter Diluted EPS Climbs to $0.24. Armco Metawise, Ltd. the Company's wholly owned subsidiary, has completed delivery of iron ore to a China based steel company pursuant to a contract that will generate sales of approximately $8 million in the third quarter of 2009.

In its third quarter ended September 30, 2009, the Company reported revenues grew to $52,850,051, a 9.24% increase over revenues of $48,378,898 in the same period last year. Net income attributable to the Company in the 2009 third quarter was $1,607,646 as compared with $1,204,433, a 33.48% gain over the year earlier quarter. 56% contribution to third quarter operating income achieved by the Company's automobile related Web-based, Financing and Automobile Import Value Added Services.

Based in Dalian, China, China Bio-Immunity develops, produces,manufactures and markets internally developed vaccine-based prophylactics andtherapeutics. Its principal products, its Rabies Vaccine and Mumps Vaccine, are sold and distributed by a network of wholesale distributors, as well as through retailcustomers.

In the third quarter of 2009, the Company maintained their leadership position in the industry by continuing to provide high margin, plasma-based products to the market. China Biologic Products reported revenues for the third quarter of 2009 increased 95.9% to a record $27.0 million, compared to $13.8 million for the same period last year.

In June 20099, China Broadband has signed the memorandum of understanding to acquire 51% of Laketune Technologies Inc. The Company looks forward to building the business through future partnerships with content creators to promote, distribute and monetize content.

On October 8, 2009, the Company completed a debt restructuring of certain of its long-term obligations in exchange for new Junior Secured Notes and newly issued Series A Preferred Shares, each share of which is convertible at the option of the holder into one Ordinary Share. This resulted in the automatic cancellation of approximately $566,500 in principal amount of the converting stockholders' Junior Secured Notes.

China Securities is an online community dedicated to small-cap Chinese companies, their shareholders and the global pool of investors that are interested in investing in Chinese small-cap companies.

Highlights for Q3 FY2009: Total revenue grew approximately 43% to $5.3 million in the third quarter of 2009, compared with $3.7 million in the prior year quarter; Gross margin improved by 50% to $2.6 million in the third quarter of 2009, compared with $1.8 million in the prior year quarter; Income from operations increased by 140% to $1.6 million in the third quarter of 2009 Net income rose over 200% to $1.3 million in the third quarter of 2009, $10.4 million of cash on the balance sheet as of the quarter end, March 31, 2009.

The Company reported 3rd Quarter FY 2009 (unaudited) gross revenue of $2,424,686 Year-to-date (YTD) revenues were $4,968,061, an increase of 16% over the $4,290,702 reported for the same period in FY 2008.

Unaudited revenue increased 29% to $175.8 million for the twelve months ending December 31, 2008 while Unaudited net income increased 91% to $22.7 million for the twelve months ending December 31, 2008. In April 2009, the Company announced that it will issue 14.7 million shares and cash consideration of $3.0 million in exchange for 100.0% of HeNan Smart Food Company

China Eastern Airlines Corporation Limited is an airline based in Shanghai, People's Republic of China. It is a major Chinese airline operating international, domestic and regional routes. Its main base is Shanghai Pudong International Airport, with a hub at Shanghai Hongqiao International Airport.

Net income for the second quarter of fiscal 2009 was $3.24 million, representing an increase of 95.4% over second quarter 2008 net income of $1.66 million. Operating income in the second quarter of fiscal 2009 increased to $3.72 million, from $1.77 million in the same period a year ago. Operating margin was 45.8% in the second quarter of fiscal 2009. As of June 30, 2009, China Education Alliance had approximately $31.51 million in cash and cash equivalents, $32.62 million in working capital, and no long-term debt.

China Finance is reviewing several potential companies that appear to meet their criteria for investment, which includes strong growth and revenue potential. We intend to focus on companies currently delivering $30 million or more in revenue. hina Finance, Inc., through its wholly-owned indirect subsidiary Shenzhen Hua Yin Guaranty and Investment Limited Liability Corporation, operates as a financial services company providing guarantees to small and medium enterprises (SME) in the People’s Republic of China.

For the third quarter of 2009, China Finance Online reported net revenues of $14.58 million, compared to $15.23 million for the same period in 2008, and $12.28 million for the second quarter of 2009, down 4% year-over-year and up 19% quarter-over-quarter. Gross profit for the quarter was $12.27 million, compared to $12.46 million for the same period in 2008 and $10.25 million for the second quarter of 2009.

China Fruits Corporation, through its wholly-owned subsidiary in China, Jiangxi Taina Nanfeng Orange Co. Ltd. (formerly Jiangxi Taina Fruits Co., Ltd.), is engaged in the planting and marketing of Nanfeng tangerines; the production and sales of fruit wine and nonalcoholic beverages; and R&D in fruit biotech and deep-processing, event organization, management and consulting for fruit branding.

China Fundamental Acquisition Corporation intends to acquire an operating business in the People’s Republic of China through a stock exchange, asset acquisition, or other business combination. The company was founded in 2007 and is based in Central, Hong Kong.

China Green Material Technologies, Inc.’s activities are conducted through its 100% owned equity ownership in Harbin Changfangyuan High-tech Environment-friendly Industrial Co., Ltd. (Changfangyuan) established in Heilongjiang Province of People’s Republic of China.

GrenTech increased its Total revenue by 85.8%;Gross profit by 67.4%; Operating income increased ten-fold; Net and income continued to improve significantly (US$2.9 million compared to a net loss attributable to the equity shareholders of GrenTech in the third quarter 2008.)

For 2008, impacted by industry headwinds, revenue was $26.5 mm; down 64.2% Y/Y. Net income decreased 42.7% Y/Y to $9.6 mm or $0.30 per diluted share. In Apr 2009, the Company reported its outstanding pre-sales results of JunJing II during Q1:09, with total presales contract revenue over US$ 14.5 mm, which we already modeled in our estimate.

A holding company through its indirect wholly-owned subsidiary develops, produces, and sells, organic foods and healthcare and cosmetic products.

Q208 revenues grew 31% from $2,954,064 in the same period in the last fiscal year to $3,876,754, primarily as a result of a more than doubling of revenues from online insurance advertising sales in the quarter to $3,565,037 from $1,751,511 in the second quarter last year. China INSOnline Corp., incorporated in Delaware and headquartered in Beijing, is a rapidly growing licensed insurance agency in The People's Republic of China. Representing major insurance underwriting firms in China, the Company offers online automobile, property and life insurance services through its industry web portal, www.soobao.cn.

Sales for the third quarter of 2009 were $72.4 million compared to $62.9 million in the third quarter of 2008, an increase of 15.1%. Net income for the third quarter of 2009, was $9.9 million or $0.28 per diluted share, compared with net income of approximately $9.1 million, or $0.27 per diluted share, during the same period in 2008. In the third quarter of fiscal year 2009, the average weighted shares outstanding were 35.8 million shares versus 33.2 million shares in the third quarter of 2008.

The Company operates as a freight forwarder and logistics management company. It acts as an agent for international freight and shipping companies; sells cargo space; and arranges land, maritime, and air international transportation for clients seeking to import or export goods from or into China.

China Longyi Group International Holdings Limited, through its subsidiaries, engages in the development, manufacture, and marketing of superoxide dismutase or SOD products in the People's Republic of China. The Company intends to develop and market SOD oral liquid, capsules, medicines, and skin care products. The company is based in Beijing, the People's Republic of China.

Our mission statement is to become one of China’s leading new age advertising and media companies through the use of new technologies and devices combined with traditional media of TV, Newspapers, Magazines, Billboards and the Internet to reach today’s mobile society. China Media Group Corporation (“CHMD”) is quoted on the US OTCBB market under the symbol “CHMD”. Our registered office is in the United States (San Antonio – Texas) and our principal operation is in Asia with offices in China, Hong Kong, Malaysia and Australia.

Despite recent challenges, CMED has seen several positive signs, including SFDA approvals for both the Companies FISH probes in hematology and our SPR-based analysis system in the past quarter. The Company reported revenues of RUS$24.3 million for 2Q FY2009, representing a 14.4% decrease from the corresponding period of FY2008.

In Jan 09, the company acquired the Coal Group that owns 70% of Yongsheng coal mine located in Guizhou Province, providing 600K tons of coal annual capacity. The total consideration was $42mm, of which $10mm was paid and the rest is due by Jan 2010. In April, the company announced a bank financing of $29.3mm for construction and development of the Yongsheng coal mine.

Nepstar reported 4Q08 revenue of $96 million, gross margins of 46%, net income of $6.8 million, EPADS of $0.06. Same store sales up 0.9% for stores opened before 12/31/06 (1,379 stores) for 4Q08 increased 0.9% yoy. NPD opened 87 new stores and closed 45 poorly performing stores by the end of the quarter. NPD has $357 million in cash and cash equivalents, translating to $3.28/ADS and no long term debt. On 1/5/09, NPD restructures its ownership in its Yunnan subsidiary. The company keeps 40% voting rights in Yunnan JianZhiJia Chain drugstore (JZJ), the subsidiary. NPD owns 40% equity interest in JZJ as well as 40% of the voting rights, down from previously 70%.

China Nutrifruit had a strong third quarter with solid year-over-year growth in both revenue and net income. Gross profit for the third quarter of FY 2010 grew 34.8% to $8.1 million, from $6.0 million for the same period a year ago. Gross margin was 45.7% for the third quarter of FY 2010 compared to 43.5% in the third quarter of FY 2009. Net income in the third quarter of FY 2010 was $4.6 million, or $0.11 per diluted share, up 44.7% from $3.2 million, or $0.09 per diluted share a year ago.

China Nuvo Solar Energy, Inc. (“CNUV”) is a development-stage company that is designing, with a view toward manufacturing, solar photovoltaic (PV) cell technology products.

CPHI reported 4Q08 revenue of $15.4 million, net income of $5.4 million, diluted EPS of $0.1 This concludes FY08 with $51.0 million revenue and $0.44 EPS. CPHI reported $1.8 million bad debt expense for the year, a result of its longstanding accounts receivable (A/R), which amounts to $36 million in FY08. For 2009, the company is focusing on bringing more products to the market, reducing A/R and continue its clinical trial on its new antibiotics formulation.

Revenue for the fourth quarter of fiscal 2009 was $25.7 million, down 9.9% from $28.6 million in the fourth quarter of fiscal 2008. Gross profit in the fourth quarter was $2.3 million, down 57.9% from gross profit of $5.5 million in the fourth quarter of fiscal 2008. China Precision Steel has completed the construction of its third cold rolling mill and has begun testing and commissioning of the mill. As of June 30, 2009, China Precision Steel expects to incur an additional $2.5 million in capital expenditures in relation to the new mill and annealing furnaces.

China Prosperous Clean Energy Corporation engages in the wholesale and retail of compressed natural gas (CNG) and liquefied petroleum gas (LPG) in the People’s Republic of China. The company operates 10 gas filling stations comprising 4 CNG filling stations and 6 LPG filling stations.

For the third quarter of 2009, CREG generated revenue of $18.4 million, a 333% increase from $4.3 million in the third quarter of 2008 and a 65% growth from $11.1 million in the second quarter of 2009. CREG sold one energy recycling system in the third quarter. For the nine months ended September 30, 2009, CREG had total revenue of $33.9 million, a 393% increase from the $6.9 million in revenue recorded in the same period of 2008. Of the total revenue, product sales revenue was $27.9 million and rental income from operational leases was $5.9 million. In the same period of 2008, CREG had rental income of $6.9 million.

FY08 revenue increased 7.1% to $41.1 million for CRUI, engaged inthe production, sales, and exportation of deeply processed chemicals, with a primary focuson non-ionic cellulose ether products.

2QFY09 revenue increased 57.2% yoy to $9.2MM. Net income was $0.7MM or $0.01 per share, versus $0.9MM or $0.01 a year ago for CRJI, a leading player in cement production and distribution in China. The Company's certified manufacturing facilities contain cutting-edge technology and advanced equipment and are capable of producing as much as 2 million tons of cement annually.

The company develops, manufactures and markets pharmaceutical, nutritional, and cosmetic products that are derived from the medicinal herb Panax notoginseng. The company develops various products for cardiovascular and cerebrovascular disease, peptic ulcer disease, and health products markets.

The Company through its subsidiaries, is engaged in the manufacturing of ladies fashion footwear for shoe retailers in Japan and China. It also produces various types of shoe soles for the domestic market in the PRC.

Net revenue was $5.3 million for the three months ended September 30, 2009, a decrease of 69.2% as compared to $17.3 million for the same period last year of 2009. The decrease in the net revenue is primarily due to the disposal of Shenzhen Pengsangpu Solar Industrial Products Corporation ("SZPSP") and continuous decrease in the sales of single solar products such as solar heater and biomass stove in Deli Solar (Bazhou).

ZNH operates the largest and most technologically advanced airline fleet as well as the most extensive domestic air network in The People’s Republic of China. The operates 342 modern Boeing 777, 747, 757, 737 and Airbus A330, 321, 320, 319 and 300 jet aircraft serving destinations to 841 cities in 162 countries

Gross profit for the 2nd quarter was US$6.8 million, which led to a blended gross margin of 9.7%, compared to negative 23.7% in the previous quarter, and 10.4% in the second quarter of 2008 despite the decline in ASP in the second quarter. Net other income in the second quarter of 2009 was US$3.0 million, compared to net other loss US$0.7 million for the first quarter of 2009. Net other income in the second quarter included a gain of US$2.2 million on the repurchase of the convertible bonds and a US$0.8 million foreign exchange gain.

China SXAN Biotech, Inc. engages in the manufacture and marketing of wines and tonics derived from forest frogs in the People’s Republic of China. Its product lines consist of Forest frog hasma and Pigs. The company offers its forest frog products under the ‘Xiao Xing’an Mountain’ brand name.

In January 2010, China Transinfo was awarded an intelligent transportation system contract in Zhejiang Province valued at approximately USD $22.9 million, through its VIE Beijing UNISITS Technology Co. Ltd ("UNISITS"). Also in January, the Company was ranked 11th on the 2010 Forbes China list of small-to-medium sized Chinese companies with the most potential. China TransInfo was the only transportation information technology company selected.

China Unitech Group, Inc. focuses on the online travel business in the People’s Republic of China. The company, using its Web site, chinabizhotel.com, intends to offer viewers the ability to book hotel rooms.

China Wind Energy, Inc., a development stage company, through its subsidiary, Harbin SQ Wind Power Ltd., focuses on the production and sale of turbine blades and combine harvesters. It offers blades for wind turbine generators that permits variable pitch and speed control.

China Wind Power International Corp. is an Ontario company that is uniquely positioned to capitalize on the growing demand for wind power in China. The Company indirectly holds the exclusive rights for wind energy development in Du Mon County, Heilongjiang Province, which has a demonstrated potential installed capacity of 1,150 MW of wind energy developable over an area of 612 square km. While 1,150 MW represents the Company’s long-term potential for wind power in the area, its current plans are for building out capacity of 546 MW over five development phases.

For the fourth quarter of fiscal year 2009, net sales totaled $3.84 million, a decrease of 35.4% compared to $5.95 million recorded in the fourth quarter of fiscal year 2008. Gross profit totaled $2.10 million, a decrease of 36.9% compared to $3.33 million in the fourth quarter of fiscal year 2008. Net income for the fourth quarter was $1.02 million, or diluted income per share of $0.03, compared to net income of $1.6 million, or diluted income per share of $0.05 in the fourth quarter of fiscal year 2008.

The Company reported record revenues in the third quarter of 2009 - with total net revenue increasing by 79.3% to $14.0 million, compared with $7.8 million in the third quarter of 2008. Management believes that China Yida is well positioned to benefit from rapidly growing consumer spending on leisure activities in China as a result of increased disposable income and a growing middle class.

China Youth Media is a China focused youth marketing and media company whose business is to deliver advertising and content to one of the most sought after and fastest growing demographics in the world.

China Yuchai International Limited is a Bermuda holding company established on April 29, 1993. The three main businesses are diesel engines, hospitality & properties and lifestyle through investments in Guangxi Yuchai Machinery Company Limited, HL Global Enterprises Limited and Thakral Corporation Ltd.

Total net revenue for the third quarter of 2009 was $13.1 million, representing a 9.4% increase from the corresponding period in 2008. Net revenue from online degree programs for the third quarter of 2009 was $10.5 million, representing a 9.4% increase from $9.6 million for the corresponding period in 2008. Gross profit for the third quarter of 2009 was $8.0 million, representing a 7.8% increase from $7.4 million for the corresponding period of 2008.

As of October 31, 2008, UIB has signed up to provide School Liability Insurance to approximately 233,000 educational institutions covering approximately 100 million students. The company estimated that approximately 24 million students would be its clients for Student Safety Insurance by the end of 2008. UIB is expected to file FY08 report in May.

ChinaTel Group Inc. is a business entity forged through a merger with Trussnet USA and a Wholly Owned Foreign Enterprise (WOFE) in the Peoples Republic of China (PRC), to acquire and operate WiMAX networks in key markets throughout the world.

Operating revenues for the third quarter of 2009 were $0 compared to US$185,075 of last year. As the Company discontinued its sole business with Huizhou One Limited in March 2009, no revenues were generated during the third quarter of 2009.

The Company continued to deliver strong financial results during the third quarter with total net revenues up 41.1% and net income attributable to the Company's shareholders up 47.3% compared to the same period of last year. Net income attributable to the Company's shareholders was US$11.3 million for the third quarter of 2009, representing an increase of 47.3% from the corresponding period of 2008.

In March J.P. Morgan Chase maintained overweight rating on China National Offshore Oil Corporation , China's leading offshore oil producer. CNOOC generated $6.4 Billion in Net income for 2008.

Q4'08 revenue was $58M, up 11% yoy; net of $18M or $0.26 per ADS. For Q1'09, the Company expects to continue the yoy revenue growth at a rate of approximately 5-10%.

Record Revenues and Net Income for the 2nd Quarter of 2009; Deer Consumer Products reported Revenues of $15.3 million, up 34.3%, compared to $11.4 million in Q2 2008 and Net income of $1.7 million, up 197%, compared to $0.58 million in Q2 2008. Based on customer orders received and anticipated product delivery schedule for the remainder of 2009, DEER has raised 2009 earnings guidance to approximately $0.93 per share, or approximately $10.5 million in net income on 2009 revenue guidance of approximately $81 million.

Software license revenues increased by 21.08% year-over-year , primarily attributable to the recovery from Supermarket, Specialty Store and Key Account SBUs. Second Quarter gross profit decreased 28.81% year-over-year.

In July 2009, E-House Holdings and SINA Corporation jointly announced that they have entered into a definitive agreement (the ''Agreement'') to merge E-House's real estate information and consulting services and SINA's online real estate business (the ''Transaction''). This transaction marks a significant step in our strategy to expand the business opportunities of the Company's top verticals by teaming up with industry leaders in online media, as well as our large user base.

FY08 revenue increased 49.7% yoy to $44.3MM. Gross profit increased 68.5% yoy to$17.8MM. In July 2008, the Company commenced construction of a new production facility, which will have the capacity to produce an additional 9,000 tons of milk power annually. The new facility is expected to come online in 3QFY09.

Energroup Holdings Corporation engages in the production, packing, and sale of pork and pork products in the People’s Republic of China. The company’s activities include slaughtering and packaging of pork and cattle; and processing of raw and cooked meat products. It offers fresh pork; frozen pork, such as smoked pork, ham, and roast; and frozen pork byproducts, including the pig’s liver, stomach, intestine, head, and hoof.

FY08 exploration costs increased 357% to $15.3 million. On Apr 8, the company announced that it had achieved critical desorption pressure (CDP) in a portion of the 1H Pilot Area in its Shouyang Block in Shanxi Province.

FY08 revenue increased to $790.2 million, up 40% compared to revenue of $506.6 million in FY07. On December 22, 2008, the Company announced that it entered into a definitive agreement with SINA Corporation to sell substantially all of the assets of Focus Media's digital out-of-home advertising networks, including the LCD display network, poster frame network and certain in-store network.

Gross margin increased to 27.9% from 26.8% in the same period of the prior year. Profit before tax for Dalian was $10.4 million in the second quarter of 2009 and the loss for Fayetteville and Telford combined before tax was $0.2 million. The loss at the Fushi Copperweld parent company level was $8.0 million primarily due to interest expenses on the High Yield notes, stock-based compensation, changes in fair value of derivative liabilities related to the Convertible Notes conversion options, and warrants, as well as professional fees and outside service expenses. On a consolidated basis, profit before tax was $2.2 million and we recognized a net tax expense of $0.6 million, reflecting a 28% effective tax rate.

Revenues were US$13.1 million, compared with the third quarter of 2008. The decrease in overall revenues was primarily due to decrease in demand for consumer packaging materials, as a result of global economic crisis. The sequential increase in revenues comparing with the second quarter, however, came as a result of rebound in the pricing which goes up with oil price as well as seasonal demand increase of BOPET films.

Net revenue for the third quarter 2009 was US$42.5 million, representing a 20.3% decrease from the second quarter 2009 and a 9.4% increase from the third quarter 2008. During the third quarter 2009, the Company worked to enhance Giant Online via the release of a new Brigadier General military rank, various equipment upgrades, and a reputation system to enhance interactivity among gamers.

GigaMedia Limited, through its subsidiaries, develops and licenses online gaming software, and provides application services, as well as owns and operates an online games portal.

Net revenue for the nine months ended March 31, 2009 was $51.6 million, up 140.4% from $21.5 million in the same period prior year. Gross profit was $8.2 million, or 15.8% of net revenue, up 88.8% from $4.3 million, or 20.2% of net revenue for the same period of last year. Net income was $3.3 million, or $0.05 per fully diluted share, up 738.0% from $0.4 million, or $0.01 per fully diluted share in the same period of 2008.As of March 31, 2009, Gold Horse had $0.2 million in cash and cash equivalents, $9.1 million in working capital and a current ratio of 1.9 to 1.

The company is a float glass manufacturer. The Company’s product offerings include float glass, ultra-clear glass, colored float glass and high grade, glass processed products, such as mirrors, glass artwork, tempered glass, insulated glass, laminated glass, lacquered glass and similar products.

Greater China Media and Entertainment Corp, headquartered in Beijing, China, is an integrated professional media and entertainment company offering various services, including film and TV program production, management, promotion, distribution, agency services and other related services. The Company was founded by experienced and talented veterans of China's media and entertainment industry.

The company reported $6,395,457 in revenues as compared to $13,037,014 during the same period in 2008, representing a decrease of $6,641,557 or approximately 51%. During the first quarter of 2009, Guangzhou recorded an operating gain of $268,032, as compared to a gain of $604,387 during the three months ended September 30, 2008 and a gain of $120,927 during the three months ended June 30, 2009.

Hambrecht Asia Acquisition Corp. does not have significant operations. It intends to acquire one or more operating businesses having its primary operations in the People’s Republic of China through a merger, stock exchange, asset acquisition, reorganization, or similar business combination. The company was founded in July 2007 and is based in Central, Hong Kong.

On October 6, Harbin Electric announced that Harbin Tech Full had signed a definitive agreement to acquire 100% of the outstanding shares and all of the corresponding assets of Simo Motor in consideration for the payment of a purchase price equal to no less than six (6) times and no more than eight (8) times the 2008 audited net profits of Simo Motor.

For the three months ended June 30, 2009, total revenues increased 40.2% to $44.8 million, from $31.9 million in the comparable prior fiscal year period. As a percentage of total revenues, overall gross margin was 33.5% for the three months ended June 30, 2009, as compared to 35.7% for the prior year period, mainly due to gross margin for products sold reduced from 61.9% to 42.5% year over year. The gross margin for integrated contracts was 32.8% for the three months ended June 30, 2009, compared to 33.0% for the same period of the prior year.

In May 2009, the Company announced the signing of a Definitive purchase agreementto issue US$50 million in equity, or 7,514,503 ordinary shares, to Ctrip.com International. The transaction is expected to close on or before May 21, 2009, subject to customary closing conditions. The Company will receive $20 million at closing and the remaining $30 million within 30 days of closing. The funds will be used for general corporate purposes.

Q4 EPS increased to $0.51 from $0.16 in the prior year period. Q4 sales rose 42% to $22.5MM from $17.7MM in the year ago quarter as Health and Bio Products sales were up 20% in the period while Aquaculture sales rose 12.2%. Importantly, profitability of the Aquaculture operation improved despite lower pricing, as gross profit margins rose 590 bps in the period on stronger volume.

Consolidated operating revenue for the year totaled $9.886 billion, representing a 35.76% increase as compared to 2007. For the three months ended 31 March 2009, the Company's total domestic power generation on consolidated basis amounted to 41.824 billion kWh.

In August, Hurray! officially became China Unicom's GJAVA partners, one of the first batch in mainland China since the service was introduced by China Unicom. In addition, Hurray! was also chosen to be one of the first batch of developers to work with China Mobile's Mobile Market. In the fourth quarter of 2009, we are launching another 2 new mobile games.

A blank check company recently formed for the purpose of acquiring, through a merger, stock exchange, asset acquisition or other similar business combination, an unidentified operating business.

The Company has seen slight improvements in their core business during the second quarter of 2009. Although Jingwei's data mining business continued to experience slowdowns from the private business sectors, demand for their proprietary software in the telecom sectors has improved. Net Income for the 2nd Quarter of 2009 increased 3% to $0.8 million in the second quarter compared to the first quarter in 2009.

1Q09 Net Sales Increased 36.1% to $ 32.4 Million Compared to 1Q08, Net Income increased 94.9% to $ 4.7 Million Compared to 1Q08 and Diluted EPS Increases 93.3% to $0.58 Compared to 1Q08. The company reiterated comfort with their Fully Year 2009 Financial Forecast.

Total revenues for the Second Quarter of 2009 ("2Q09") increased 37% year-over-year and increased 9% quarter-over-quarter to $32.3m, exceeding the Company's 2Q09 revenue guidance of $30.5m to $31.5m. In 2Q09, KongZhong maintained its leading position in the Chinese mobile game market and further strengthened our internal R&D game development capabilities through the acquisition of Simlife.

Revenues for the year ended December 31, 2008 were $11.6 million, an increase of $4.1 million, or 56% over revenues for the same period of 2007. Net income increased 378% to approximately $6.0 million for the year ended December 31, 2008. This was an improvement of approximately $4.8 million, from approximately $1.2 million for the same period of 2007. Income from operations increased 262% to $4.8 million in 2008 from $1.7 million for the year ended December 31, 2007.

Total net revenue for the twelve months ended March 31, 2009 was $5.62 million, a 6% decrease from $5.96 million for the twelve months ended March 31, 2008. Gross profit margin improved to 34% for the twelve months ended March 31, 2009 as compared to 21% for the twelve months ended March 31, 2008. Net loss for the twelve months ended March 31, 2009 narrowed to $4.58 million, or $0.08 per fully diluted share, compared to a net loss of $9.42 million, or $0.22 per fully diluted share, for the twelve months ended March 31, 2008.

Secured first Conversational Advertising(TM) contract with Mercedes-Benz's smart car. This contract validates Speak2Me's services as an online English language learning platform as well as its Conversational Advertising(TM) business model. Lingo Media Corporation is a diversified online and print-based education product and services company.

Total revenues for the quarter ended September 30, 2009, were US$42.8 million, an increase of 52.0% year-on-year (YoY) from US$28.2 million in the corresponding year ago period, and exceeded company guidance of US$37.5 million. Adjusted Net Income for the quarter ended September 30, 2009, of US$21.4 million or US$0.40 per fully diluted share increased 32.0% as compared to Adjusted Net Income of US$16.2 million in the corresponding year ago period, and exceeded Company guidance.

The third quarter was highlighted by continued strong performance in Lotus' Earnings Before Interest and Taxes (EBIT) for the third quarter ended September 30, 2009, were $6.0 million, compared with EBIT of $3.7 million during the same period in 2008. Lotus believes it is on track to meet its earnings guidance for 2009. The Company improved its cash position in the third quarter, which stood at $2.6 million as of September 30th, 2009, as compared to $1.3 million as of December 31, 2008.

Revenue for the third quarter of 2009 was $7.1 million, a 41% increase from revenue of $5.0 million in the third quarter of 2008. Net income in the third quarter of 2009 was $52,000 on a GAAP basis, or $0.00 per diluted share, compared to net income of $131,000 or $0.01 per diluted share in the third quarter of 2008. On a non-GAAP basis, which excludes stock-based compensation charges of $0.3 million, the Company’s net income was $390,000, or $0.02 per diluted share. The Company’s non-GAAP net income for the third quarter of 2008 was $452,000, or $0.02 per diluted share, which excludes stock-based compensation charges of $0.3 million.

Mindray delivered solid results in the third quarter of 2009; Third quarter 2009 net revenues were $151.1 million, an increase of 3.1% over the third quarter of 2008. First nine months net revenues were $445.3 million, an increase of 17.3% year-over-year. Net operating cash generated during the third quarter of 2009 was $20.9 million.

Network CN is one of China's fastest growing companies in the out-of–home media sector. Our one-stop suite of services ranges from media planning to advertising operations in the media sector.

FY08 revenue was $49.3MM. Net loss equaled $1.5MM or $0.06, compared with net income of $14.1MM or $0.21 in the previous year. In 2008, the Company spent approximately $2.2MM in capex and has committed to an additional $1.5MM for the construction of the new plant ("NDAPM"), which is scheduled to be completed in 2009.

For the six months ended September 30, 2009, the Company reported revenues of $15,937,433 compared with $30,107,977 in the prior fiscal year first half. The loss through the first six months ended September 30, 2009 was $(46,317,186) compared with net income of $795,438 in last year's first half. With respect to methanol, the Company reported that prices recently have been stimulated by the anticipated implementation in November of methanol modified gasoline throughout China. The increases that have occurred, however, are not yet sufficient to offset costs for coal-based product.

Revenues were $7.57 million and $15.20 million for the three and nine months ended September 30, 2009, respectively, as compared to $4.60 million and $11.76 million for the corresponding periods in 2008. Total revenues increased by $2.97 million and $3.44 million, a 65% and 29% increase, for the three and nine months ended September 30, 2009, respectively, as compared to total revenues for the three and nine months ended September 30, 2008.

For FY08, the company reported total revenues of $11.9 million, up 50% over last year. Net income for FY08 was $1 million compared to a net loss of $1.1 million last year, which excludes some one-time charges. FY08 EPS were $0.05 versus ($0.05) last year.

Revenue for the third quarter of 2009 was approximately $30.5 million compared to $18.3 million for the same period in 2008, an increase of 67.3%. Gross profit for the third quarter of 2009 increased 107.4% to approximately $7.1 million from approximately $3.4 million for the third quarter of 2008. Net income in the third quarter of 2009 was approximately $4.8 million, up 107.1% from approximately $2.3 million in the same period last year.

Total revenues for the Third Quarter of 2009 were USD86.4 million, an increase of 13.2% 2Q09 and an increase of 54.5%, in 3Q08. Perfect World Reported Operating profits of USD43.6 million in 3Q09, an increase of 6.4% quarter over quarter and 48.8% from 3Q08. Gross profit was USD72.5 million in 3Q09, an increase of 8.9% and Gross margin was 83.9% in 3Q09, as compared to 87.2% in 2Q09 and 87.6% in 3Q08.

For the second quarter ended June 30, 2009, total revenue was $48.0 million, down 9.8% from $53.2 million in the second quarter of 2008. Gross profit for the quarter was $3.6 million, down from $6.7 million for the same period of 2008. Gross margin was 7.5% during the quarter, down from 12.6% during the same period last year. The decrease in gross profit margin was primarily due to higher labor cost and manufacturing overhead due to increases in power, water and materials in the three months ended June 30, 2009.

Redgate Media Group is a leading integrated media and entertainment company in China. The company reaches a nationwide audience of over 100,000,000 people through television, radio, outdoor advertising, magazines, and the fixed and mobile Internet. Across these different divisions, the company offers services in advertising sales, media planning and buying, and through its affiliates, content production and distribution. Redgate employs over 300 staff and has offices in Beijing, Shanghai, and Hong Kong.

Gross profit for Q3 2009 was US$4.7 million, compared to US$4.3 million in Q2 2009 and US$45.8 million in Q3 2008. Gross margin for Q3 2009 was 3.4%, compared to 5.1% for Q2 2009 and 21.2% for Q3 2008. ReneSola has completed integration of JC Solar following the close of its acquisition on May 31, 2009. In Q3 2009, ReneSola shipped approximately 11 MW of modules from JC Solar.

In July 2009, Shanda announced that it was ranked highest for all three awards issued at the Ten-Year China Online Game Industry Award Ceremony. The three awards Shanda received were as follows: -- Most Influential Figure in China's Online Game Industry in the Past Ten Years - Tianqiao Chen, Shanda's Chairman and CEO -- Most Valuable Enterprise in China's Online Game Industry in the Past Ten Years - Shanda -- Most Popular Original Online Game in China's Online Game Industry in the Past Ten Years - The World of Legend

Q4'08 revenue increased 11% yoy to $31.8M, with only one month chemical segment revenue. Net income increased 63% yoy to $12.7M, or $0.11 per share.

A listed investment vehicle formed with the sole purpose of investing in China’s media advertising and entertainment field and accelerating the growth of a single operating company. It is backed by 20+ blue chip mutual funds, hedge funds and other financial institutions from US and Europe.

Shiner's revenue for the three months ended September 30, 2009 was up approximately 8.2% on a quarter to quarter basis, but down when compared to the same period in 2008. Net income of $0.30 million versus net loss of $0.28 million in the second quarter of 2009, and down from net income of $1.86 million in the third quarter of 2008. The quarter to quarter increases related directly to increases in sales in two of Shiner's main business lines, including a 14.6% increase in food safety packaging sales and a 4.5% increase in anti-counterfeit packaging sales.

Management estimates total revenues for Q1'09 will be between $73M and $77M, with advertising revenues to be between $43M and $46M and non-advertising revenues to be between $30M and $31M.

Operational Income increased 989% year-over-year to $3.95 million while Total revenue for 2008 was $13,785,125, an increase of 392% compared to $2,802,750 for 2007. In February 2009, the Company completed the installation of a Fluid Acoustic Energy CWM System, which management believes is the first of its kind in the PRC. The system is now online, and is expected to increase the Company's annual CWM production from 100,000 metric tons to 350,000 metric tons.

The Company enjoyed a sharp increase in both it's top and bottom lines - Net sales increased 12.7% to $31.2 million compared to the same period last year, Gross profit increased 26.3% to $3.5 million and gross margin increased 120 basis points versus the third quarter of 2008 and Net income excluding a non-cash warrant expense of $290,091 and a non-cash beneficial conversion feature expense of $153,425 would have been $1.9 million or $0.02 per diluted share.

The Company has been working for over a year now to get the most updated version of Sino Payments Global Processing System installed in Shanghai and they are working closely with our partner PowerE2E to make this happen soonest. Sino Payments operates in the established $18.6 Trillion Asian Debit and Credit Card Processing Market.

The company announced that 23 generic drugs for which the Company has production rights are listed in China's National Essential Drugs List, which covers pharmaceuticals used to treat up to 80 percent of the most common diseases in China. Gross profit increased 57% to US $962,923, reflecting a 74% gross margin for the three months ended August 31, 2009. This compares to US $612,428, and a 66% gross margin, reported for the corresponding period ended August 31, 2008.

Net sales for Q109 (December 08) increased 80.9% yoy to $8.8 million and net income was $1.7 million or $0.11 per share. On Mar 26, the company announced further loss for second quarter ending March 31, 2009 calling for over $2 million after the RMB 7.5 million receivables of its Sinogas subsidiary were recognized as bad debt. In Oct 2008, the company announced the opening of two new retail CNG fueling stations in Xuancheng, bringing the total number to 16.

Q308 revenue increased 68.3% yoy to $6.3MM. EPS were $0.04, up from $0.03 a year ago. SkyPeople's distribution network, already one of the largest in China, is constantly expanding and now includes the United States, Japan, the European Union, the Middle East, Russia, Israel and South Korea.

Record revenues of $6.21 million in Q109, representing an increase of 102% from Q1 in 2008. Significant growth across all three product lines. Net income of $1.021 million, up 117%, compared to $0.471 million in Q1 2008. SmartHeat manufactures standard plate heat exchangers, custom plate heat exchanger units and heat meters.

Q4'08 revenue decreased 22.7% yoy to $25.1M with net income of $1.8M or $0.10 per share. FY08 revenue increased 13.1% yoy to $130.9M with net income of $12.4M or $0.68 per share.

The third quarter of 2009 was a critical transition point for Spreadtrum, as our focus on improving product quality and providing excellent customer service resulted in increased demand from both existing and new customers. Revenue in the third quarter totaled US$38.4 million, representing an increase of 137% from US$16.2 million in the second quarter 2009 and up 92% year-over-year from US$20.0 million.

Q209 Revenues were $12.8M, with Gross Profits and Net Revenues of $3.2M and $ 715k respectiveley. Sunwin International Neutraceuticals, Inc. engages in the areas of essential traditional Chinese medicine, zero calorie natural sweeteners (stevia), and veterinary medicines and feeds prepared from 100 percent organic herbal ingredients.

In January 2010, Sutor announced that it has signed four purchase agreements with four steel distributors located in Middle and Eastern China for 31,800 metric tons and an aggregate contract amount of approximately US$25 million based on current market prices, if fully performed.

The company generated $371 Million USD in revenue for Q308 resulting in a net income of $88.4 Million USD. As a foundry, the Company manufactures semiconductors using its advanced or mainstream manufacturing processes for its customers based on their own or third parties’ integrated circuit designs

Revenues for the third quarter ended September 30, 2009 increased 124.7% to $18.9 million compared to same period of 2008. Net income for the third quarter ended September 30, 2009 increased 281.8% to $4.2 million compared to $1.1 million in the third quarter of 2008. Telestone provides Local Access Network Solutions, products and engineering integration to telecom carriers. In terms of 2G technologies, Telestone is a main supplier in wireless access coverage infrastructure building for the GSM and CDMA network base on its RFPA technologies primarily in the PRC.

2Q09 revenue increased 30.4% to $10.1 million and net income increased 24.5% to $2.1 million. Tianyin Pharmaceutical Co., Inc., develops,manufactures, and sells 34 traditional Chinese medicines and other pharmaceutical products in China.

Results for the third quarter of 2009 reflect a decrease in revenue in China to $4.7 million, compared to $14.6 million for the same period in 2008. The revenue decrease is attributed to a decline in domestic distributors' demand in the third quarter of 2009 after stocking up on products in the second quarter of 2009 due to the Company's increased marketing efforts in the second quarter. In addition, revenue for the third quarter of 2008 was unusually high due to a future price increase announcement by Tianshi Engineering during that quarter

Revenue in the third quarter of fiscal year 2009 increased 290% year over year to $1.75 million from $0.45 million, and revenues in the nine months ended December 31, 2008 increased 314% year over year to $5.07 million from $1.22 million, reflecting greater demand for Tongli products and increased penetration into new markets.

Throughout 2009, Tongxin International allocated R&D and marketing efforts to develop and expand its product offering to the growing medium and heavy-duty EVBS truck segments in China. For the nine months ended September 30, 2009, the addressable market of medium and heavy duty truck cabs in China was $2.3 billion based on an estimated 620,000 units at an average content value $3,700 per cab.

Net income increased 23.7% yoy in 1Q09 to $6.7 million compared to $4.5 million in 1Q08. The Company announced the signing of an exclusive agency framework agreement with Beijing Subway to expand operations of the Company's mobile digital television advertising network to operational portions of Beijing Subway.

For the Third Quarter of 2009, the Company reported total net sales revenue increased by 5.56% over the third quarter of fiscal 2008 to $24.36 million. Operating income increased by 72.93% over the third quarter of fiscal 2008 to $3.72 million and Net income increased by 76.40% over the third quarter of fiscal 2008 to $3.06 million.

4th Quarter Net revenue was $299.3 million, an increase of 130.4% from the fourth quarter of 2007 while Net income was $27.8 million, up 65.9% from $16.7 million in the fourth quarter of 2007. Net revenue for the year 2008 was $912.1 million, an increase of 88.5% from 2007. WSP develops and manufactures seamless Oil Country Tubular Goods (OCTG), including seamless casing, tubing and drill pipes used for on-shore and off-shore oil and gas exploration, drilling and extraction, and other pipes and connectors.

Wuhan signed a Loan Agreement with Standard Chartered Bank (China) Limited, Guangzhou Branch (the "Lender") on November 11, 2009. Under the Loan Agreement, the Company will receive a loan facility totaling approximately $44.4 million in senior secured debt financing consisting of two tranches, a term loan facility for up to approximately $31.0 million; "Tranche A" and a term loan facility for up to approximately $13.4 million; "Tranche B".

Net revenue for the second quarter of 2009 was $38.8 million, down 18% year-on-year from $47.2 million in the second quarter of 2008 or up 59% sequentially from $24.5 million in the first quarter of 2009. Gross profit for the second quarter of 2009 was $9.9 million, down 51% year-on-year from $20.3 million in the second quarter of 2008, or up 18% sequentially from $8.4 million in the first quarter of 2009.

3Q08 revenue increased 252.1% yoy to $290.7 million with net income of $32.1 million, or $1.17 per ADS. Solar module shipments were 66.36 MW, up 213.7% yoy. The company expanded capacity to approximately 300 MW for each of ingot, wafer, cell and module production. TSL launched cell lines 11 through 14, of which lines 11 and 12 were put into commercial production. In July 2008, the company raised $138 million in Senior Convertible Notes to fund capacity expansion. 4Q08 guidance calls for revenue of $190-210 million on shipments of 55-60MW, with gross margins of 13-15%. Management reiterated its confidence in regards to its financial strength and operational strategies for fiscal year 2009.

For the third quarter of fiscal 2009, net sales increased 13.2% to $7.1 million from $6.3 million in the third quarter of fiscal 2008. Sales volume contributed to approximately 92% of growth, while an increase in average sales prices contributed to 8%. Yayi's Gross profit grew 14.7% to $4.7 million, as compared to $4.1 million in the year-ago period while Net income was $1.8 million. The leading producer and distributor of premium goat milk formula products throughout the People's Republic of China, recently announced that it broke ground on a new deep-processing facility in Shaanxi Province.

operating income was $14.3 million and operating margin was 5.6%. New sales contracts bring total PV module sales under contract for delivery in 2009 to 317.4 MW. The company sells its PV modules under Yingli brand name primarily to installers, PV system integrators, property developers, distributors, and other value-added resellers principally in China, as well as in Germany, Spain, Italy, and the United States.

Revenue for the quarter was $10.9 million, up 320.6% compared to pro forma revenue in the first quarter of 2008. Operating income was $3.2 million, up from a pro forma operating loss of $0.1 a year earlier. Gross profit increased 961.3% to $4.1 million in the first quarter of 2009, compared to $0.4 million in pro forma gross profit in the prior year period. Gross margin was 37.2% compared to pro forma gross margin of 14.8% during the same period in 2008.

In April 2008, the Company completed the construction of the Hunan Zhaoheng Hydropower Station, which provides an additional 50MW capacity. In June 2008, the Company acquired the Guizhou Yongfu Hydropower station. Currently, the Company’s portfolio consists of three hydropower stations with an aggregate installed capacity of 120MW