Q&A with Rick HuangEmailed Rick this week to try and dig up some info....
My Qs:
1) What is the status on the wind business?
2) Where do you see sales trending for 2010 and so on?
3) Also, does Hanwei still have a large percentage of market share? Or has there been increasing competition? I know oil and gas companies drastically cut capital expenditures last year because of the economy, thus resulting in less business for Hanwei, but was their also a loss in revenue due to increased competition?
Rick's answers:
"For the pipe sales, our policy this year is not to provide any guidance to the market. We are confident overall as the worldwide oil and gas industry recovers from the economic crisis. For the wind, as we disclosed before, we are trying to from some partnerships with certain Chinese companies.
Our biggest competition in China is Star Harbin which is a subsidiary of National Oilwell Varco. We did not lose any customers last year. "
As expected, they're not disclosing too much information, but he did take the time to address all my questions in a very prompt manner.
My guess for revenue this year is as good as anyones, but I do fully expect their revenues to exceed the current market cap.
GLTA