Chinese Rocket Stocks Part IV

Next up is KongZhong(KONG Quote), which develops, markets and distributes consumer wireless services. KongZhong is currently trading at a huge discount and has been for some time. With a market cap of $200 million and total cash on the balance sheet of $120 million and no debt, Kong is trading at insanely low valuations. Back in September, the stock was up 80% in a single day.

Other stocks that made the list are China Finance Online(JRJC Quote), which has $65 million in cash and zero debt, Aluminum Corp of China(ACH Quote) and Longtop Financial Technologies(LFT Quote). Check out these and more at the Chinese Rocket Stocks Part IV portfolio on Stockpickr.

• 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.
• In September, I compiled the Chinese Rocket Stocks Part III. Here's the column and the portfolio.

Please note that due to factors including low market capitalization and/or insufficient public float, we consider Asialnfo Holdings, China Finance Online, Fuwei Films and KongZhong to be small-cap stocks. 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.