China Tracker - Details for China Integrated Energy (CBEH)

 China Integrated Energy
You have been redirected from CBEH.PK to the new ticker symbol.
Shares Outstanding (MRQ): 42.20 mill 
New Shares / Dilution (TTM): 5.94 mill16.40% 
New Shares / Dilution (since Dec 31, 2008): 9.32 mill28.35% 
Cash (MRQ): 90.26 mill0.00%
Account Receivables (MRQ): 6.33 mill0.00%
Account Receivables (Q/Q): -1.52 mill  
Long-Term Debt (MRQ): 4.42 mill0.00%
Revenue Growth (Q/Q): 10.54% 
Revenue Growth (Y/Y): 26.57% 
Net Income Growth (Q/Q): 11.44% 
Net Income Growth (Y/Y): 27.96%
EPS Growth (Y/Y): 9.94% 
Net Margin (Q/Q): 13.0% (12.9%)0.10% 
Net Margin (Y/Y): 13.0% (12.8%)0.10% 
EPS | P/E (2 MRQ Projection): $1.380.00 
CFPS | P/CF (2 MRQ Projection): $2.440.00 
Price/Sales (2 MRQ Projection): 0.00
Price/Book (MRQ): 0.00 
Auditor: Sherb & Co.
 
 Forward Projections (Fiscal Year)
EPS | P/E (Estimates updated 2011-03-10): $1.650.00 
 Basic Facts and History (show more)
Reporting Type: U.S. Company (10-K Filings) 
Going Public: Reverse Merger on 2007-10-23 
Uplisting to Senior Exchange: on 2009-06-26 at $4.35 (-100.00% since Uplisting)

 Business Outlook

Recent Chain of Events:
2012-09-24 -- Last SEC Filing
2012-09-18 -- CFO Change
2011-07-21 -- Auditor Engagement
2011-06-15 -- Delisting from NASDAQ
2011-05-19 -- CFO Appointment
2011-04-28 -- CFO Resignation
2011-04-26 -- Auditor Resignation
2011-04-20 -- Trading halted by NASDAQ
2011-03-16 -- Last Quarterly/Annual Report: FY2010 ended December 31, 2010

(Source: Trading China, 2012-09-30)

For financial year 2011, the Company's sales are currently expected to be $497 million and net income is expected to be $41 million. At the beginning of 2011, the Company provided guidance for sales of $588 million and net income of $72 million. We have revised guidance downward for the financial year 2011 due to several factors. In the first half of 2011, our biodiesel production facilities in Tongchuan were not producing at planned capacity due to government restrictions on chemical and oil production during the International Horticultural Exposition in Xi'an, which began in April 2011 and is currently still underway. We were successful, however in our efforts to maintain limited hours of production each day as the local government authorities acknowledged that our production of biodiesel is safer and less pollutive than traditional oil refining. Normal production schedules will resume after the end of the Expo in November 2011.

In addition, the newly acquired equipment for the Tongchuan Phase 2 plant is still undergoing testing. Production is scheduled to commence in the third quarter of 2011. Additionally, one of the production lines in the Chongqing plant was upgraded in the second quarter of 2011, which temporarily reduced our biodiesel production during that period. As previously announced, four gas station leases were cancelled by Shaanxi Highway Services Co., Ltd. as part of the government's effort to reduce the number of gas stations leased to third party operators. As a result, we have received a refund of about $3.9 million for the advance lease payment that was made at the time we began operating those gas stations.

On July 8, 2011 and July 11, 2011, we received termination notices from Shaanxi Fangwei Road Gas Station and Lantian Gas Station for the gas stations leased by Xi'an Baorun at those locations. The termination of the operating lease for Lantian Gas Station is due to the expected demolition of this gas station in order to widen the road, a project undertaken by the local government. The termination of the Fangwei Road Gas Station lease results from the owner's decision to sell the gas station. According to the Gas Station Leasing and Operation Agreement dated May 28, 2009 entered into with the Shaanxi Fangwei Road Gas Station, we were given priority to acquire the gas station in the event of a sale by its owner. However, the price demanded by the owner was in the opinion of the Company unreasonably high and was outside the internal guidelines and policies we have in place with respect to acquisitions. The Company expects to receive a refund for the advance lease payments made amounting to approximately $10.9 million. As a result of the termination of these leases, our retail gas station segment sales have been reduced.

To date, we have not received the corporate income tax waiver for financial year 2011 from the Xi'an local tax bureau for our Xi'an Baorun subsidiary and, hence, we expect that Xi'an Baorun will be subject to corporate income tax at the rate of 15% since it has been certified as a High & New Technology Enterprise. Our expenses are also expected to increase due to the cost of the ongoing independent investigation.

(Source: PR Newswire, 2011-07-27)

Unless the Company requests an appeal of Nasdaq's determination to delist by May 23, 2011, trading of the Company's shares of common stock will be suspended at the opening of business on May 25, 2011, and a Form 25NSE will be filed with the Securities and Exchange Commission, which will result in the Company's securities being removed from listing and registration on Nasdaq. The Company intends to appeal Nasdaq's determination.

(Source: 8-K Filing, 2011-05-19)

    see all Business Outlook notes

 Analyst Coverage (show more)
2011-05-02Rodman & RenshawDowngradeTerminatedn/a
2011-03-29Rodman & RenshawDowngradeUnder Reviewn/a
2011-03-17Roth CapitalDowngradeNeutral$5.50
2011-03-15Rodman & RenshawReiterationOutperform$12.50
2011-03-10Roth CapitalReiterationBuy$8.00

CBEH is currently followed by 3 analysts. 1 give the stock a positive rating, 2 rate it neutral and 0 give it a negative rating.


    see all Analyst Ratings

 Recent Financings
2010-12-29Priced$15.30 mill2.19 mill shares$7.00
2010-05-05Filing$125.00 mill--
2009-10-30Priced$28.75 mill5.00 mill shares$5.75

 Investor Presentations
2010-03-07 (HTML)   VIEW
2009-05-01 (PDF)   DOWNLOAD (right click, save as)
CBEH
Oil & Gas
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Current Price:  n/a
F10k Day (2008-07-08): -100.00%$6.05
2009 Close: -100.00%$7.04
2010 Close: -100.00%$7.33
2011 Close: -100.00%$0.39
High (2012-02-02): -100.00%$0.96
Low (2012-09-27): -100.00%$0.31
Exchange:
Market Capitalization: n/a
Total Shares: 42.20 mill
Float: n/a
Avg Volume: 423.70 k
Short Interest: 1.93 mill
Short Ratio: n/a4.6 d
Last Quarter: 2010-12-31
Revenue (MRQ): 118.05 mill
Net Income (MRQ): 15.32 mill
Op. Cash Flow (MRQ): 22.59 mill
all financial data provided without warranty