Info:
- SmartHeat (HEAT) is a designer, manufacturer and seller of clean technology plate heat exchangers (PHE) and related systems in China. 44% of its revenues are from PHE units, 36% from PHEs, and 20% from Heat Meters.
- Current price: $5.44 ($205m mkt cap, $159m EV). P/E estimates: Trailing 7.83-9.33, Forward 6.96
- Ratios: P/B 1.42, PEG 0.25. Analysts: Avg Target = $10. Latest Qtr Report.
- Key developments include a recent Nov 2010 SEO of $27m in proceeds, rising earnings and guidance, contracts with Chinese municipalities and major companies, SEO in Sept 2009, listing on NASDAQ Jan 2009, and reverse merger in May 2008.
- A Dec 09 SeekingAlpha article.
- Company's own powerpoint slidedeck to investors - must read.
The Market. For most fundamental investors usually the most expensive lesson you will learn is that "the market can stay irrational longer than you can stay solvent." HEAT is an outstanding example of this. In Dec 09, SeekingAlpha guru TraderMark wrote about HEAT as a "great growth story", pointing to the billion reasons why it was poised for growth. It is also a great "clean & green" story, which is a plus for all you out there who are into ethical investing (see the powerpoint for how its PHEs reduce CO2 emissions). The sky was the limit.
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Anna Friel Monica Bellucci Minki van der Westhuizen Katharine Towne Malia Jones
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