Comments
yourfanat wrote: I am using another tool for Oracle developers - dbForge Studio for Oracle. This IDE has lots of usefull features, among them: oracle designer, code competion and formatter, query builder, debugger, profiler, erxport/import, reports and many others. The latest version supports Oracle 12C. More information here.

2008 West
DIAMOND SPONSOR:
Data Direct
SOA, WOA and Cloud Computing: The New Frontier for Data Services
PLATINUM SPONSORS:
Red Hat
The Opening of Virtualization
GOLD SPONSORS:
Appsense
User Environment Management – The Third Layer of the Desktop
Cordys
Cloud Computing for Business Agility
EMC
CMIS: A Multi-Vendor Proposal for a Service-Based Content Management Interoperability Standard
Freedom OSS
Practical SOA” Max Yankelevich
Intel
Architecting an Enterprise Service Router (ESR) – A Cost-Effective Way to Scale SOA Across the Enterprise
Sensedia
Return on Assests: Bringing Visibility to your SOA Strategy
Symantec
Managing Hybrid Endpoint Environments
VMWare
Game-Changing Technology for Enterprise Clouds and Applications
Click For 2008 West
Event Webcasts

2008 West
PLATINUM SPONSORS:
Appcelerator
Get ‘Rich’ Quick: Rapid Prototyping for RIA with ZERO Server Code
Keynote Systems
Designing for and Managing Performance in the New Frontier of Rich Internet Applications
GOLD SPONSORS:
ICEsoft
How Can AJAX Improve Homeland Security?
Isomorphic
Beyond Widgets: What a RIA Platform Should Offer
Oracle
REAs: Rich Enterprise Applications
Click For 2008 Event Webcasts
SYS-CON.TV
Today's Top SOA Links


Longwei Petroleum Retains Weitian Group for Investor Relations
Longwei expands outreach to institutional investors

TAIYUAN CITY, China, Nov. 28, 2012 /PRNewswire-FirstCall/ -- Longwei Petroleum Investment Holding Ltd. (NYSE MKT: LPH) ("Longwei" or the "Company"), an energy company engaged in the storage and distribution of finished petroleum products in the People's Republic of China ("PRC"), today announced that it has retained the Weitian Group LLC ("Weitian") for investor relations and corporate communications to augment its current services with RedChip Companies and to expand its outreach with institutional investors and analysts.

Weitian is uniquely positioned based on its knowledge of the U.S. capital markets and Chinese corporate culture.  Weitian has bilingual professionals to provide around-the-clock investor relations services to clients and investors with its offices in New York and Beijing.  Weitian's founder, Tony Tian, CFA, was formerly an Executive Director and Senior Research Analyst covering China Industrials at Oppenheimer & Co. Prior to joining Oppenheimer, Mr. Tian was a Vice President and Senior Research Analyst at Ladenburg Thalmann & Co. and spearheaded the company's China equity research effort.

"We are pleased to work with Tony and his team at Weitian," said Cai Yongjun, Chairman and Chief Executive Officer of Longwei.  "We have added Weitian as a resource to reach out to institutional investors and analysts as we try to raise our profile in the public marketplace."

Longwei has filed its Definitive Proxy Statement, Schedule 14A, with the SEC for its annual shareholder meeting, which will be held on Thursday, December 20, 2012 at 9:00 a.m. local time at the Company's offices, located at No. 30 Dajingyu Street, Xiaojingyu Xiang, Wan Bailin District, Taiyuan City 030024.  Longwei separately plans to host an "investor and analyst day" next quarter to invite shareholders and interested parties to tour its facilities.  The Company has received strong interest from institutional and private investors in visiting its facilities, including the new Huajie facility.  Once plans are finalized, the Company will release additional details.

Longwei recently announced its product revenue increased 32.8% to $53.1 million for the month ended October 31, 2012, compared to $40.0 million for the month ended October 31, 2011.  Longwei's product sales volume increased 20.2% year-over-year to 41,811.4 metric tons ("mt"), compared to 34,780.0mt for the month ended October 31, 2011.  The increase in revenues was primarily attributable to the increase in the average sales price of petroleum and the volume growth of the new Huajie facility, which contributed $9.2 million in product revenues during its first month in operation.

Bloomberg News (November 27, 2012) reported that profits at PRC industrial companies jumped 20.5% year-over-year in October to RMB 500B (US $80.4B), with growth accelerating from a 7.8% rise in September and providing further evidence that the economy is rebounding. "The improved industrial profitability further confirms that the Chinese economy is stabilizing and gaining growth momentum," said Ding Shuang, senior economist for the PRC at Citigroup Inc. in Hong Kong, who previously worked at the country's central bank. Citigroup raised its 2013 GDP growth forecast for China to 7.8 percent from a previous estimate of 7.6 percent, according to a research report released November 26, 2012.

Longwei expects year-over-year revenue growth of approximately 26.6% to $646.3 million, and net income growth of approximately 24.2% to $77.6 million, adjusted for the warrant derivative liability, for the fiscal year ending June 30, 2013. This growth rate does not account for any external financing for inventory, which could accelerate growth. The growth is driven primarily by the ramp-up of the Huajie facility and organic growth at the Company's two existing facilities.

Longwei recently reported revenues of US $133.4 million and non-GAAP net income of $18.3 million or $0.18 per share, adjusted for the non-cash warrant derivative liability charge, for the first fiscal quarter ended September 30, 2012.  The Company's product sales volume increased 17.8% year-over-year to 110,587 metric tons during the quarter.  As of September 30, 2012, the Company reported total assets of US $360.0 million and book value per share of $3.47.

About Longwei Petroleum Investment Holding Limited

Longwei Petroleum Investment Holding Limited is an energy company engaged in the storage and distribution of finished petroleum products in the People's Republic of China. The Company's oil and gas operations consist of transporting, storing and selling finished petroleum products, entirely in the PRC. The Company's headquarters are located in Taiyuan City, Shanxi Province. The Company has a storage capacity for its products of 220,000 metric tons located at three storage facilities within Shanxi: Taiyuan, Gujiao and Huajie, which have an individual storage capacity of approximately 50,000 metric tons ("mt"), 70,000mt, and 100,000mt, respectively.  The Company has the necessary licenses to operate and sell petroleum products not only in Shanxi, but throughout the entire PRC. The Company's storage tanks have the largest storage capacity of any non-government operated entity in Shanxi.

The Company seeks to earn profits by selling its products at competitive prices with timely delivery to transportation companies, coal mining operations, power supply customers, large-scale gas stations and small, independent gas stations. The Company also earns revenue from agency fees by acting as a purchasing agent for other intermediaries in Shanxi, and through limited sales of diesel and gasoline at two retail gas stations, each located at the Company's Taiyuan and Gujiao facilities. The Company seeks to continue to expand its customer base and distribution platform through the utilization of its large storage capacity, which allows the Company the flexibility to take advantage of pricing, supply and demand fluctuations in the marketplace.

Longwei was recently named to the Forbes list of "Asia's 200 Best Under a Billion" from a universe of 15,000 companies.  Forbes ranked the companies based on sales growth, earnings growth and return on equity in the past 12 months and over three years.  As was reported, Longwei's three-year track record is 45% sales growth, 28% earnings per share growth and 28% return on equity.  The Forbes article can be found at: http://www.forbes.com/sites/christinasettimi/2012/07/25/asias-200-best-under-a-billion.

For further information on Longwei Petroleum Investment Holding Limited, please visit http://www.longweipetroleum.com. You may register to receive Longwei Petroleum Investment Holding Limited's future press releases or request to be added to the Company's distribution list by contacting Dave Gentry at info@redchip.com.

Forward-Looking Statements

Certain statements contained herein constitute "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. These forward-looking statements are based on current expectations, estimates and projections about Longwei's industry, management's beliefs and certain assumptions made by management. Readers are cautioned that any such forward-looking statements are not guarantees of future performance and are subject to certain risks, uncertainties and assumptions that are difficult to predict. Because such statements involve risks and uncertainties, the actual results and performance of the Company may differ materially from the results expressed or implied by such forward-looking statements. Given these uncertainties, readers are cautioned not to place undue reliance on such forward-looking statements. Longwei's operations are conducted in the PRC and, accordingly, are subject to special considerations and significant risks not typically associated with companies in North America and Western Europe. These include risks associated with, among others, the political, economic and legal environment and foreign currency exchange. The Company's results may be adversely affected by changes in the political and social conditions in the PRC and by changes in governmental policies with respect to laws and regulations, anti-inflationary measures, currency conversion, remittances abroad, and rates and methods of taxation. Other potential risks and uncertainties include but are not limited to the ability to procure, properly price, retain and successfully complete projects, and changes in products and competition. Unless otherwise required by law, the Company also disclaims any obligation to update its view of any such risks or uncertainties or to announce publicly the result of any revisions to the forward-looking statements made here. Readers should review carefully reports or documents the Company files periodically with the Securities and Exchange Commission.

Contact:      

At the Company:
Michael Toups, Chief Financial Officer
Tel: U.S. Office +1-727-641-1357
Email: mtoups@longweipetroleum.com
Web: http://www.longweipetroleum.com

Investor Relations:
Mike Bowdoin
RedChip Companies, Inc.
Tel: +1-800-733-2447, Ext. 110
Email: mike@redchip.com
Web: http://www.redchip.com

Tina Xiao
Weitian Group LLC
Tel: +1-917-609-0333
Email: tina.xiao@weitian-ir.com
Web: http://www.weitian-ir.com

 

 



 

 

 

SOURCE Longwei Petroleum Investment Holding Ltd.

About PR Newswire
Copyright © 2007 PR Newswire. All rights reserved. Republication or redistribution of PRNewswire content is expressly prohibited without the prior written consent of PRNewswire. PRNewswire shall not be liable for any errors or delays in the content, or for any actions taken in reliance thereon.

Web 2.0 Latest News
When we talk about the impact of BYOD and BYOA and the Internet of Things, we often focus on the impact on data center architectures. That's because there will be an increasing need for authentication, for access control, for security, for application delivery as the number of potentia...
User obsession with digital information shows no signs of abating. As users create, share, and consume content, network traffic volume goes up, growing an average of 30 to 50 percent annually.[1] The increased adoption of cloud technology has made round-the-clock access to content easy...
Violence is the great disruptor, the great destroyer of people, nations, and hope. Some places on earth, say Somalia, are simply off-limits to outsiders and practically uninhabitable to those having to live there. Others, say Democratic Congo or Iraq, are perilous enough to defy ration...
If you listen to the persistent murmur in the market surrounding the Internet of Things right now, you'd believe that it's all about sensors. Sensors and big data. Sensors that monitor everything from entertainment habits to health status to more mundane environmental data about your h...
Kirk Byers at SDN Central writes frequently on the topic of DevOps as it relates (and applies) to the network and recently introduced a list of seven DevOps principles that are applicable in an article entitled, "DevOps and the Chaos Monkey. " On this list is the notion of reducing var...
Subscribe to the World's Most Powerful Newsletters
Subscribe to Our Rss Feeds & Get Your SYS-CON News Live!
Click to Add our RSS Feeds to the Service of Your Choice:
Google Reader or Homepage Add to My Yahoo! Subscribe with Bloglines Subscribe in NewsGator Online
myFeedster Add to My AOL Subscribe in Rojo Add 'Hugg' to Newsburst from CNET News.com Kinja Digest View Additional SYS-CON Feeds
Publish Your Article! Please send it to editorial(at)sys-con.com!

Advertise on this site! Contact advertising(at)sys-con.com! 201 802-3021




SYS-CON Featured Whitepapers
ADS BY GOOGLE