China Tracker - Details for China Clean Energy (CCGY)


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 WARNING: Form 15 filed with the SEC!
 China Clean Energy
 Business Outlook

The demand for specialty chemicals continues to be strong in China, driven by consumer demand for both everyday and more sophisticated products. China is a rapidly growing specialty chemicals market, second only in size to that of the U.S. In addition, biodiesel continues to be an early-mover, relatively clean energy alternative to imported oil. China Clean Energy is well-positioned in both segments to capitalize upon their strong trends. We are seeking to acquire an upstream feedstock supplier in the second half of 2011 to secure supply and expand our gross margins. Our raw materials sourcing sets us apart as we use renewable resources to produce our specialty chemicals and biodiesel unlike other industry participants who use depleting commodities such as oil, natural gas or coal. We expect to be able to finance an eventual transaction with cash on hand as well as cash flow from operations.

Our increased production capacity as well as our new facility's geographical positioning will continue to promote strong operating results. We plan to continue to deliver positive results in the quarters ahead. We reiterate our guidance for 2011, and expect revenue and operating income in 2011 to be approximately $75 million and $14 million, respectively. We would also expect to see adjusted earnings reach $0.36 per fully-diluted share in 2011.

(Source: PR Newswire, 2011-05-16)

The macroeconomic environment in China remains positive, and we are excited with the opportunities to continue to deliver positive results in the quarters ahead. We expect our revenue and operating income in 2011 to be approximately $75 million and $14 million, respectively, as we benefit from our increased capacity as well as improving sales mix. We would also expect to see adjusted earnings reach $0.36 per fully-diluted share in 2011. As we look to the future, we hope to leverage our strengthening balance sheet and improving free cash-flow position to acquire upstream feedstock suppliers in the second half or 2011, with the goal to expanding our gross margins and securing feedstock supply. We believe that pursuing a partially or fully integrated upstream strategy will reduce the volatility of our operating results and maximize shareholder value in the long-run. We are currently actively searching for acquisition candidates, and we expect to be able to finance an eventual transaction with cash on hand as well as cash-flow from operations.

(Source: PR Newswire, 2011-03-30)

China Clean Energy expects revenue to reach $75 million and operating income to reach $13 million in fiscal year 2011. "During 2010 we gradually and successfully ramped up our Jiangyin plant to full capacity, and improved the quality of our products as a result of increased scale and more advanced technology in our manufacturing process. Going into 2011 we expect to make fuller use of our expanded capacity. We also expect to increase shipments of high margin products which command premium pricing, including high purity dimer acid and high performance adhesives. As a result, we are hopeful to deliver improved top- and bottom-line results for the year."

(Source: PR Newswire, 2011-03-14)

"In the third quarter we again delivered results that exceeded our expectations as we continued to successfully ramp production at our Jiangyin plant. Our record results for the quarter were driven by higher volume and improved margins in our specialty chemicals business as we increased sales of high margin products such as high-purity dimer acid and multi-purpose hot melt adhesive, and raised prices of some other of our specialty chemical products to reflect our improved quality, as we benefited from strong demand from our existing customer base. Looking ahead, demand for our products remains strong and we expect to sustain our growth momentum into the fourth quarter."

China Clean Energy's Jiangyin plant produced 8,935 tons of specialty chemicals and 3,213 tons of biodiesel in the third quarter of 2010, representing 89% and 26% of the estimated full capacity, respectively. Jiangyin plant's output in the quarter accounted for approximately 90% in total volume and 88% in total revenue.

"Based on our existing order book, we expect to deliver revenue of approximately $17.3 million in the fourth quarter 2010, representing an increase of approximately 253% over the fourth quarter 2009. Operating income is expected to reach $3.5 million, up from $0.3 million in the fourth quarter 2009. For the full year 2010, our revenue is expected to reach $58.1 million, representing a year-over-year increase of 265%; our operating income is expected to reach $9.9 million, compared to $0.9 million in 2009. We also remain committed to list our shares on a senior U.S. exchange, and hope to announce our progress towards this goal in the weeks ahead."

(Source: PR Newswire, 2010-11-15)

During the third quarter of 2010, the Company has successfully transferred and installed plant and equipments representing all biodiesel capacity and all specialty chemicals capacity except the printing ink production line to the new Jiangyin plant. As a result, the annual production capacity in the Jiangyin Plant is now 50,000 tons of biodiesel and 40,000 tons of specialty chemicals. The printing ink production line, which accounts for approximately 500 tons annual production capacity, will remain at the old plant. The transfer and installation of equipment from the old plant to the Jiangyin plant during the third quarter did not affect management's revenue and operating income expectations for the quarter.

"We are pleased to announce the successful consolidation of our manufacturing facilities which we expect will improve our efficiency and strengthen our margins. We expect to keep our printing ink plant at the old facility and to retain the land use rights."

(Source: PR Newswire, 2010-11-02)

Looking ahead, we expect the macroeconomic environment to remain positive and demand for our products to remain strong in the second half of the year. Based on our existing order book and the positive feedback from our clients, we expect to deliver revenue of approximately $15.3 million in the third quarter 2010, representing an increase of approximately 283% over the third quarter 2009. The operating income is expected to reach $2.4 million, representing an increase of approximately 700% over the third quarter 2009. As for the full year 2010, our revenue is expected to reach $57 million, representing a year-over-year increase of 258%; our operating income is expected to reach $8.2 million, representing a year-over-year increase of 811%.

(Source: PR Newswire, 2010-08-16)

We are very happy with the operating performance of our new plant, which is exceeding our expectations. We currently expect to deliver revenue of approximately $11.5 million in the second quarter of 2010, representing an increase of approximately 167% over the comparable period in 2009. As we look to the future, we intend to continue to focus on gradually ramping up our capacity to meet demand from new and existing customers. We also intend to evaluate opportunities to acquire feedstock suppliers to reduce our exposure to raw material supply disruptions and protect our margins in the quarters and years ahead.

(Source: PR Newswire, 2010-05-14)

China Clean Energy's new plant in Jiangyin is expected to achieve a ramp-up to full capacity by the end of the year 2010 and 50% capacity by the end of second quarter of 2010. As previously disclosed, the Jiangyin plant will increase the Company's specialty chemicals capacity by 30,000 tons per year to a total of 40,000 tons per year and the biodiesel capacity by 40,000 tons per year to a total 50,000 tons per year. Before the end of second quarter of 2010, the Company expected to increase the specialty chemicals production by 15,000 tons per year and the biodiesel production by 20,000 tons per year. "We expect to see more demand from our existing customers. The Jiangyin plant enables us to provide three times more specialty chemicals and four times more biodiesel and with better quality. With the smoothly running operation in our new plant, we are confident to exceed our recently released revenue guidance for the first quarter of 2010 of RMB50 million (approximately $7.3 million), representing an increase of approximately 150% over the comparable period in 2009. The expected sales volume in the first quarter is approximately 4,000 tons for biodiesel and 5,000 tons for specialty chemicals, separately."

(Source: PR Newswire, 2010-04-01)
CCGY
Clean Energy

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Current Price:  n/a
F10k Day (2006-11-15): -100.00%$2.75
2009 Close: -100.00%$0.51
2010 Close: -100.00%$1.03
2011 Close: -100.00%$0.30
High (2012-04-05): -100.00%$0.39
Low (2012-07-06): -100.00%$0.03
Exchange:
Market Capitalization: n/a
Total Shares: 31.51 mill
Float: n/a
Avg Volume: n/a
Last Quarter: 2011-03-31
Revenue (MRQ): 18.98 mill
Net Income (MRQ): 2.71 mill
Op. Cash Flow (MRQ): 3.62 mill
all financial data provided without warranty