Editor's note. This is the second part of a series. Here is Part 1.

By Zack Buckley and Glen Bradford

China Clean Energy ( CCGY) has a new plant ramping up to full capacity that will be used to produce biodiesel and specialty chemicals. China has been pouring billions of yuan into renewable energy; biodiesel prices should rise with gas prices. China Clean's capacity will expand at triple-digit rates, given full capacity.

China Shuangji Cement ( CSGJ) has recently put itself in a position to uplist through hiring a U.S.-based CFO, a reputable auditor, and a New York-based legal firm. The recent dilution is justified as it adds shareholder value, and isn't that the point of raising capital anyway?

Puda Coal ( PUDA) is in the midst of mine consolidation, increasing capacity and increasing profit margins thanks to the unquenchable thirst for coal on the other side of the world. This is one of the more obvious opportunities. It conservatively forecast the opportunities that it going to take advantage of, and investors are always "surprised" to see that they actually do what they say they are going to do. I'll tell you what. I'm not surprised.

China Growth Development ( CGDI) is a shopping center owner in western China. CGDI is not poised for huge growth in the future, but it is a steady grower trading at a forward P/E of 3. The risk perception in CGDI is mainly due to its low stock price and industry. Warren Buffett always said that he doesn't care about the size of the business, only whether or not he can understand it. We know that shopping malls are exploding in China, so we like the business.

SOKO Fitness & Spa Group ( SOKF) operates fitness clubs and spas in China. Its revenue growth in fiscal 2009 was 40.1% with net income growth of 49.5%. The trailing 12 months P/E is 8.8, which makes it undervalued for a company growing so fast. As China's disposable income grows, Chinese consumers will have a greater desire for luxury items. SOKO will grow organically through openings new fitness clubs in underserved areas. SOKO has a high net margin of 43%, and inside ownership of 41% with ROE of 34%. You can bet we'll be going to their spas when we get to China, lucky us.