The Maxim Group estimates were for $56.4m in revenues and $7.9 Million in net income.  CHOP beat estimates producing $57.2 million in revenues and $11.4 million in net income.
Fourth Quarter 2009 Highlights
— Revenue increased 45.3% to $57.2 million from $39.4 million in the
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CHOP will announce their Full Year 2009 earnings next week.  The company’s product demand is a direct result of the increasing consumer demand (buying habits) in China.  Chinese premier Wen Jiabao mapped out the country’s growth plan for the next five years at the annual National People’s Congress. Ian McGuinn, head of operations & research [...]

[Investors Business Daily CHOP]

Disclosure:  LONG CHOP

2009 has been a really good year, but I believe 2010 will be even better. The overall markets may be a bit top heavy but I believe the Russell (micro/small caps) will outperform the major averges. I am going to start off 2010 the way I finished 2009..WORKING. I’m traveling the first [...]

Dec. 10 (Bloomberg) — China, the world’s largest steel consumer, will impose provisional duties on some U.S. and Russian imports following anti-dumping and subsidy investigations, escalating a trade spat started in September.
Flat-rolled electrical steel products from steelmakers including AK Steel Holding Corp., OAO Novolipetsk Steel and Allegheny Ludlum Corp., would attract duties of as much [...]

On the Q3 2009 conference call the company reiterated that overall gross margins will likely stay around 30% until  new higher margin production capacity comes online in H2 2010.  The Maxim Group has CHOP earning $0.84 for FY 2010 and $1.22 FY 2011, but have this Gross Margin also staying at 30%.  I believe that [...]

Golden Green Enterprises, Ltd.
(CHOP – Nasdaq – $5.19)
THE GOLD IN CHINA’S STEEL INDUSTRY

We are initiating coverage of Golden Green Enterprises (CHOP) with a Buy rating and 12-month target price of $10. Golden Green is the largest high-precision, cold-rolled narrow strip steel producer in China, having garnered 12.5% market share in 2008, and has consistently delivered [...]

“While the overall steel industry has recently experienced a period of excess supply, there is an increasing shortage in China of the high-end, high- value thin steel sheets and galvanized steel products that we produce,” said Mr. Mingwang Lu, Chairman and Chief Executive Officer. “We were able to continue to leverage our position as [...]

CHOP reported stellar Q3 numbers of $59 million in revenues and $.29 EPS, so through 9 months of 2009 they earned $0.82, with expectations of $1.02 – $1.07 EPS for FY 2009.  Gross margin increased 440 basis points to 30.6%.  AND THE STOCK IS DOWN.  The company did state that Q4 Revenue/EPS would be $40-50 [...]

I bought a position today in Golden Green Enterprise Limited (sym: CHOP) at around a $5.35 average price.  CHOP recently up-listed to the Nasdaq Global Market while also completing a secondary at $5.00.  Presently, I project their net income run rate to be around 42 to 45 million or $1.10/share on a fully diluted basis. [...]