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Tuesday, May 22, 2012

China Stock Alert: Cleantech Solutions (NASDAQ:CLNT) Moves over 50% on News of $1.7 Million Turbine Deal

New York, NY - May 22, 2012 (InvestorIdeas.com Newswire) Investorideas.com, a leader in sector research including China and renewable stocks, reports on news and trading for Cleantech Solutions International, Inc. (NASDAQ:CLNT). The stock is trading up at $3.68 1.25, up (51.44%) 11:05AM EDT on over 800, 000 shares.
The Company reported news today it has received purchase orders to supply motor shaft forgings to Nanjing Turbine & Electric Machinery Changfeng Alternative Energy Co., Ltd ("Nanjing Turbine") for an aggregate amount of $1.7 million.
The purchase orders provide that Cleantech Solutions will deliver a total of 800 units of motor shaft forgings, amounting to total revenue of RMB10.6 million (approximately $1.7 million) by the end of 2012. The Company has received advance payments of RMB1.6 million (approximately $0.3 million).
Investors following this stock have had a wild ride with massive swings to the upside followed by big runs down. Watching the sector, investors are seeing China stocks halted, China stocks going private and many struggling to keep the $1.00 NASDAQ pricing. For the brave of heart there are still big gains to be made as today’s rise on CLNT makes it the top gainer on NASDAQ as of the time of this report.
Cleantech Solutions International, Inc. manufactures and sells metal components and assemblies primarily used in clean technology industries in China and internationally.
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