Thursday, December 14, 2006
China Expert Technologies (CXTI) two more big wins
See this list for all the county level divisions in Fujian
Quanzhou City, Quangang District
Fuzhou City, Pingtan County
Other projects are listed in the 10-K and press releases:
Jinjiang City (Fujian, Quanzhou)
Dehua (Fujian, Quanzhou)
Nan'an (Fujian, Quanzhou)
Hui'an (Fujian, Quanzhou)
Quanzhou (Fujian, Quanzhou)
Licheng (Fujian, Quanzhou)
Ning Bo City, Yinzhou District (Zhejiang province)
Cangshan District, Fuzhou City (Fujian)
Minqing County of Fuzhou City (Fujian)
It's worth noting that the Fujian Provincial Government has selected the e-government system of Jinjiang City as a model for 82 cities in Fujian.
Map of Fujian also here
Fuzhou is the capital city on the Minjiang River in the upper-center right side. Minqing is upstream a ways. Dehua is south-by-southwest of Minqing. Jinjiang and Shishi are due south of Minqing on the coast. Hui'an is due south of Fuzhou near the coast. Quanzhou is a larger city in the same area.
CXTI keeps winning these contracts and there are a lot more potential contracts waiting to be won. I'm thinking they're going to be limited by both the up-front cash needed to finance this stuff as well as the technical people to carry it out. I recall one of the press releases saying they had won something like 6 out of 7 (or 7 out of 8) contracts in the area. I don't recall which press release said that, or maybe it was the 10-K.
Anyway, I'm thinking CXTI is worth a lot. I don't know exactly how much, but I'm thinking it's still undervalued even with the stock price soaring today as high as $4.54. I'll worry more about it at $8 or so.