LOS ANGELES, June 9, 2010 (GLOBE NEWSWIRE) -- EquityNet Research, an independent West Coast equity research firm, announced today that it has initiated coverage of American Jianye Greentech Holdings, Ltd. (OTCBB:AJGH).
A full copy of the report and disclosure requirements are available at EquityNet Research's Web site: www.equitynet.net.
American Jianye is a Heilongjiang-based developer and distributor of alcohol-based automobile fuel products in the People's Republic of China, including methanol, ethanol and blended fuels. Chinese consumers are forecast to buy a record 15 million vehicles in 2010, shattering the record 13.5 million in 2009 that made the country the world's top car buyer. The International Energy Agency (IEA) has predicted that China's automobile fuel demand will double between 2007 and 2015 if policies remain unchanged, and almost double again from 2015 to 2030.
Randy Lewis, CFA, Founder and Senior Analyst with EquityNet who is covering the Company, stated, "Surprisingly, China has recently adopted fuel-efficiency standards for vehicles that are even stricter than the U.S. Beijing's allocation of more than $220 billion of its $586 billion stimulus package to green projects seems proof that China as a whole is concerned with reducing harmful emissions. We believe that American Jianye holds several key competitive advantages, including strong relationships with local and provincial governments, construction of two potentially large refineries, including a waste-to-fuel facility funded by the Fujian provincial government, and entry into the retail fuel market."
About EquityNet Research
EquityNet Research was formed to provide the investing public with professional, independent, objective research on under-followed public companies. It does this by preparing detailed reports that highlight the key aspects of each company and its industry. EquityNet strictly maintains independence and objectivity according to the Standards of Professional Conduct of the CFA Institute (CFAI), and though is compensated for performing due diligence and creating reports, thus keeping its research free to the public, does not have extraneous relationships with its followed-companies nor has any present or future pecuniary benefit other than that disclosed for each company on its Web site. EquityNet was compensated $7,000 by Hanover Financial Services for the due diligence, preparation, and any updates for one year, of the American Jianye report. EquityNet is not a registered investment advisor and nothing contained in any materials should be construed as a recommendation to buy or sell any securities. Price targets should be construed as fair-market-value (FMV) as of the date of any report, using industry-standard methodologies. Many factors can cause stock prices to deviate from FMV, including supply and demand issues, and general equity market, economic and industry conditions.
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