Gushan Environmental (GU) received quite a gift this holiday season from the Chinese government. It was announced on December 24th that consumption tax paid on pure biodiesel made from animal fats and vegetable oils will be removed and refunds on the tax will be retroactive as of Jan 1st 2009. The news sent China biodiesel producer Gushan soaring yesterday and the stock is up again today. The company indicated it is currently evaluating what financial … Read the rest
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Gushan Environmental (GU) Sinks After Temporary Plant Suspension
Gushan Environmental (GU) plunged about 20% this morning, but well off the lows and getting back above the 50 day moving average after the company announced it was temporarily suspending production at Fujian Gushan Biodiesel Energy Co because of a dispute with local government over consumption tax issues. Gushan claims that its biodiesel which is produced from used cooking, vegetable and jatropha oil should not be subject to biodiesel taxes implemented Jan 1st 2009. The … Read the rest
Gushan Environmental (GU) Reports Mixed Results, Off 16%
Gushan Environmental (GU), a leading China biodiesel producer announced mixed earnings results this morning, matching EPS estimates of .01/share which is a big drop from the .20/share it reported one year ago. Revenues came in about 10% lower than expectations at $40 million, nearly a 20% drop from the year ago period.
Looking ahead, the company expects its new plants in Chongqing and Hunan to begin production next quarter and increase production at the Shanghai … Read the rest
Gushan Environmental (GU) Tops Estimates
Gushan Environmental (GU), China’s largest producer of biodiesel topped estimates this morning with a non GAAP EPS of .23/share, edging out estimates of .22/share for an increase in 64% over the year ago period. Revenues came in ahead of estimates as well with 58.3 million in the quarter, a jump of about 35% over the year ago quarter.
“Gushan continued to deliver growth during the second quarter of 2008 as production ramped up at our … Read the rest