Just reviewed last half yearly report to refresh memory and two...

Just reviewed last half yearly report to refresh memory and two key points of interest:

Forecast Projections

The directors have reviewed the projections for the full year to 31 December 2010 in the light of
results to 30 June 2010. Based on best estimates, it is anticipated that revenue for the full year will
be in the range of RMB800-900 million (AUD130 ? 150million) and net profit after tax of RMB36 ?
40million AUD$5.9 ? 6.6million).

2. NET TANGIBLE ASSETS PER ORDINARY SHARE (NTA backing)

Current period Previous corresponding period
34.78 cents 31.94 cents

NTA 34.78 cents and the SP is trading at 14 cents. Makes no sense to me.

AUD$130-150 million revenue and profit of AUD$5.9-6.6 million (subject to currency changes) and the company is only capitalised at only AUD$18million. Big dollars for a lowly capped company. Unbelievable!!!

Has there been a GFC in the last six months, has China collapsed, has China stopped growing, etc.... No I dont think so. Not expecting any changes to the above forecasts so expecting a dividend IMO.

Looking forward to the results of meeting.