FerroChina stock price higher on hoping for high future earnings.

Kelive Research on FerroChina.
The investors hope the Ferrorhina will have robust earnings in future, with the group benefitting from demand for steel and from its expansion program.
Kelive Research estimates that by 2008, FerroChina will have a steel processing
capacity of 2.4 million tonnes, compared to 900,000 tonnes at present.
By that time, FerroChina will also have emerged as the largest producer of
galvanized steel in Asia.

Kelive Research expects FerroChina's net profit to have risen to 291 million yuan last year
from 146.1 million yuan in 2005, and to rise to 400.75 million yuan this year and 730
million yuan next year. Kelive Research‘s fair value for FerroChina is S$1.92 per share.

CIMB-GK on FerroChina.
FerroChina, a maker of galvanized steel coils in China, with an "outperform"
rating and a target price of $2.29 per share as it expects the company to
post robust earnings in the next two years on the back of its aggressive
expansion plans.

By 2008, FerroChina will have an aggregate capacity of 2.4 million tons, making it
the largest non-integrated galvanized still maker in Asia, CIMB-GK said.
Earnings will expand in tandem with capacity expansion.

CIMB-GK said it expects FerroChina's net profit to rise from 146.1 million yuan in
2005 to 289.3 million yuan last year, 364.1 million this year and 691 million next year.
Demand for galvanized steel is well diversified, with FerroChina recently
securing some US$317 million worth of orders from the UK, Australia, New Zealand, Israel, Italy and Southeast Asia.


AUDITORS
Deloitte & Touche

BACKGROUND
The Company was incorporated in Bermuda on 30 September 2004.The Group is a manufacturer of heavy gauge galvanized steel coils with thickness ranging from 0.6mm to 4.2mm and width ranging from 660mm to 1550mm. Currently, the Group has one galvanization production line with an annual production capacity of 300,000 tons for the manufacturing of its products. The Group is expected to expand its capacity to 700,000 tons a year when its second galvanization production line is put into commercial production by end May 2005.The Group's customers are mainly steel trading companies, steel structure engineering companies and steel processing factories in China.

Company web site:-
http://www.ferro-china.com/history.asp

Summary
FerroChina Ltd. is a steel processor engaged in the production and sale of galvanized steel coils, primarily heavy gauge galvanized steel coils, and other related products, with an annual production capacity of 700,000 metric tons. The concentration of the zinc layer ranges from 180 grams per square meter to 350 grams per square meter. The thickness of the Company's steel coils ranges from 0.6 millimeters to 4.2 millimeters and the width ranges from 600 millimeters to 1,550 millimeters. Its production facility is located in Dongbang Industrial Park, Changshu, Jiangsu Province, the People's Republic of China. It has made export sales to Singapore, Spain, the United States, the United Kingdom and Taiwan. FerroChina Ltd., through its wholly owned subsidiary, Twin Well Group Limited, holds a 100% equity interest in Changshu Xingdao Advanced Building-Material Co., Ltd. In December 2006, the Company acquired Xinghai and Xingyu.

Links:-
http://www.ferro-china.com/
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