ORLANDO, Fla., March 12, 2010 (GLOBE NEWSWIRE) -- RedChip Visibility, a division of RedChip Companies, Inc., has issued a research note on China Natural Gas, Inc. (Nasdaq:CHNG), a clean tech company providing natural gas for transportation use in China.
Clay Mahaffey, CFA, RedChip Research Analyst, reported:
"Our growth assumptions in our initial report proved to be much more conservative than the fourth quarter and full year results reported. Given the Company's cash position, CHNG's ability to implement their growth plan looks reasonable. We are reviewing our estimates model and continue to be very comfortable with our Strong Buy rating and price target of $19.50."
To receive a complimentary copy of the RedChip Visibility Research Note for CHNG, please visit: http://www.redchip.com/about/aboutmain.asp?rid=222">http://www.redchip.com/about/aboutmain.asp?rid=222
To learn more about China Natural Gas, Inc. visit http://www.redchip.com/visibility/investor.asp?symbol=CHNG
About China Natural Gas, Inc.
China Natural Gas transports and sells natural gas to vehicular fueling terminals, as well as commercial, industrial and residential customers through its distribution networks in China's Shaanxi and Henan Provinces. The Company owns approximately 120 km of high-pressure pipelines and operates 23 CNG fuelling stations in Shaanxi Province and 12 CNG fuelling stations in Henan Province. China Natural Gas' four primary business lines include: (1) the distribution and sale of CNG through Company-owned CNG fuelling stations for hybrid (natural gas/gasoline) powered vehicles; (2) the installation, distribution and sale of piped natural gas to residential, commercial and industrial customers through Company-owned pipelines; (3) the distribution and sale of gasoline through Company-owned CNG fuelling stations for hybrid (natural gas/gasoline) powered vehicles; and (4) the conversion of gasoline-fueled vehicles to hybrid (natural gas/gasoline) powered vehicles through its auto conversion division.
About RedChip Companies, Inc.
RedChip Companies is an international, small-cap research and financial public relations firm headquartered in Orlando, Florida; with affiliate offices in Beijing, China; Paris, France; and Seoul, Korea. RedChip delivers concrete, measurable results for its clients through its extensive national and international network of small-cap institutional and retail investors. RedChip has developed the most comprehensive platform of products and services for small-cap companies, including: RedChip Research™, Traditional Investor Relations, Digital Investor Relations, Institutional and Retail Conferences, RedChip Small-Cap TV™, Shareholder Intelligence, Social Media and Blogging Services, Webcasts, and RedChip Radio™. To learn more about RedChip's products and services please visit: http://www.redchip.com/visibility/productsandservices.asp.
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Disclosure
None of the profiles issued by RedChip Companies, Inc., constitutes a recommendation for any investor to purchase or sell any particular security or that any security is suitable for any investor. Any investor should determine whether a particular security is suitable based on the investor's objectives, other securities holdings, financial situation needs, and tax status. China Natural Gas, Inc. ("CHNG") is a client of RedChip Companies, Inc. and of RedChip Visibility, a division of RedChip Companies. CHNG agreed to pay RedChip Companies, Inc. a monthly fee of ten thousand dollars in cash for twelve months of RedChip Visibility Program services, which includes the preparation of the equity research report(s) and investor awareness services. The equity research report(s) are prepared for informational purposes only and are paid for by the company portrayed in the report. The equity research report(s) are not a recommendation of a solicitation to purchase or sell any security, nor do they constitute investment advice. Investor awareness services and programs are designed to help small-cap companies communicate their investment characteristics. These services may include investor conferences, digital and print distribution of CHNG investor-related materials and radio programming. RedChip Companies, Inc., employees and affiliates may have positions and affect transactions in the securities or options of the issuers mentioned herein.