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TheStreet Open House

Chinese Rocket Stocks Part III

Next on the list is Solarfun Power (SOLF), a solar-cell manufacturer that came public almost eight months ago. Shares quickly hit $17 as demand for Chinese solar stocks went through the roof. A few months back, Solarfun reported a horrible quarter, sending shares down as much as 25% in a single day. This, though, in hindsight was a great buying opportunity, as Solarfun now has more than $100 million in cash on its balance sheet.

Last week, Solarfun announced that it has secured three multiyear framework commitments, which should consistently drive earnings for some time. It also announced that it signed its first non-domestic, long-term supply agreement (which starts in 2008). Outside businesses are starting to notice Solarfun, and so should investors.

I also like Aluminum Corp. of China (ACH), PacificNet (PACT), China Precision Steel (CPSL) among others. To see more detailed analysis of the above picks and others, check out the Chinese Rocket Stocks Part III portfolio on Stockpickr.com.

  • In July, I compiled the first Chinese Rocket Stocks. Here's the column and the portfolio.
  • In August, I compiled Chinese Rocket Stocks Part II. Here's the column and the portfolio.

Please note that due to factors including low market capitalization and/or insufficient public float, we consider PacificNet to be a small-cap stock. You should be aware that such stocks are subject to more risk than stocks of larger companies, including greater volatility, lower liquidity and less publicly available information, and that postings such as this one can have an effect on their stock prices.

At the time of publication, Altucher and/or his fund had no positions in stocks mentioned, although positions may change at any time.

James Altucher is president of Stockpickr LLC, a wholly owned subsidiary of TheStreet.com and part of its network of Web properties, and a managing partner at Formula Capital, an alternative asset management firm that runs a fund of hedge funds. He is also a weekly columnist for The Financial Times and the author of Trade Like a Hedge Fund, Trade Like Warren Buffett and SuperCa$h. Under no circumstances does the information in this column represent a recommendation to buy or sell stocks. Altucher appreciates your feedback; click here to send him an email.

TheStreet.com has a revenue-sharing relationship with Trader's Library under which it receives a portion of the revenue from purchases by customers directed there from TheStreet.com.

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