New Oriental Energy & Chemical Corp. (NasdaqCM: NOEC)

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Today's featured company New Oriental Energy & Chemical Corp. (NasdaqCM: NOEC), a specialty chemical and emerging alternative fuel manufacturer in The People's Republic of China (PRC) continues to validate its direction with fantastic financial results.  For emergent companies there is rarely news more important than that of increased revenues and profits, not just in the obvious benefit of a sustaining influx of capital to the company, but also in the implied value to existing and prospective shareholders.  Clearly, record quarterly revenues (up 129.4%) and earnings of $900,000 (up 14.7%)  is a strong affirmation of the company's business plan and leadership.  

An announcement confirming as much by New Oriental Energy , should greatly intrigue investors in this industry and enthrall present shareholders.  

*NEWS* from New Oriental

Press Release Source: New Oriental Energy & Chemical Corp.
Wednesday November 14, 4:00 pm ET

NEW YORK, NY--(MARKET WIRE)--Nov 14, 2007 -- New Oriental Energy & Chemical Corp. (NasdaqCM:NOEC - News)

--  Second Quarter Revenue Rose 129.4% to $18.2 million while Net Income
    Increased 14.7% to $900,000
--  A 790% Increase in DME Alternative Fuel Revenue to $12.2 million
    Contributed 67% of Total Revenue in the Quarter
--  Revenue for the First Six Months Increased 91.4% to $32.9 million and
    Net Income Grew 26.2% to $1.9 million

New Oriental Energy & Chemical Corp. (NasdaqCM:NOEC - News), a specialty chemical and emerging alternative fuel manufacturer in The People's Republic of China (PRC), today announced second quarter and six month fiscal 2008 results for the period ended September 30, 2007.

Record Revenue
The Company reported record revenues in its fiscal second quarter of $18.2 million compared to $7.9 million in the same period from the prior year, representing an increase of 129.4 percent. Revenue growth was primarily a result of the Company's 100,000 tons of new DME capacity which came on line in August as well as the continued year over year growth in the Company's Urea business. DME revenues increased 790 percent to $12.2 million with alternative energy products comprising 67 percent of revenue as compared to 28.4 percent last year. The Company's fertilizer business collectively increased 5.7 percent with the largest contributor, Urea, increasing 11.5 percent as compared to the same period last year. During the second quarter fertilizer revenue represented 33.0 percent of the Company's total revenue.
 

About New Oriental

New Oriental Energy & Chemical Corp. ("New Oriental" "NOEC") is an emerging alternative fuel and specialty chemical manufacturer based in Henan Province, the People's Republic of China.   New Oriental, which was incorporated in 2003 and is headquartered in Xinyang, China is focused on the production of Dimethyl ether (DME), methanol and fertilizer products.  The company expects to begin production of bio-diesel within the next year. 

The Company will sell its products primarily through a network of distribution partners that will service the ever-growing demands of cleaner energy in China and will export its products through the same network to countries around the world. 

NOEC, through its subsidiary, Henan Jinding Chemical Co., Ltd., ("Henan") offers urea and coal-based chemicals, including ammonium bicarbonate and liquid ammonia for nitrogenous fertilizers and raw materials of chemical products; methanol, which is used for the production of medicine, pesticide, dye, plastic, synthetic protein, fiber, formaldehyde, and methyl ether; and dimethyl ether that is used as an additive for liquefied petroleum gas (LPG) and non-industrial fuel substitute to LPG and for residential and automotive uses, and as a refrigerant for refrigerators and air conditioners. Henan serves chemical, pharmaceutical, light, and textile industries. 

Mr. Ben Wang, age 34, has experience in public company analysis, qualitative and quantitative financial analysis, including modeling and forecasting. Most recently he was an equity research analyst at the Beijing offices of Brean Murray Carret Co., Ltd., a boutique institutional investment bank and research firm. Prior to that he did risk solutions consulting for Standard and Poor's, and was a senior equity research analyst for Century Securities Co. Mr. Wang earned his Ph. D. from the Department of Decisions, Risk & Operations Management at Columbia Business School in New York, NY in 2003. He was awarded an M.E. in Electrical Engineering from Tsinghua University in Beijing and a B.E. in Electronic Engineering from Chengdu's University of Electronic Science & Technology of China.

CHINA and the GREEN ENERGY MARKET

In January 2006, the Chinese government introduced the Renewable Energy Law in an effort to reduce the country’s reliance on oil imports and to increase the uptake of alternative fuels. China aims to use 6.7 million tonnes of ethanol and 11 million tonnes of biodiesel by 2010, meeting 10 percent of its forecast transport fuel demand. China, the world's second largest energy consumer, has issued a package of policies, including risk reserves, subsidies and tax breaks, to encourage the development of the bio-energy and bio-chemical industries in the country to stave off energy crisis.

• 88% are concerned about climate change. 
• 97% think their Government should do more to tackle global warming. 
• 63% think that China is too dependent on fossil fuels. 
• 56% think that China is too reliant on foreign oil. 
• 91% think that a minimum 25% of electricity should be generated from renewable energy sources. 

Other Recent News From NOEC

Press Release Source: New Oriental Energy & Chemical Corp. 
Thursday September 6, 10:00 am ET 

NEW YORK, NY--(MARKET WIRE)--Sep 6, 2007 -- New Oriental Energy & Chemical Corp. (NasdaqCM:NOEC - News), a specialty chemical and emerging alternative fuel manufacturer in The People's Republic of China (PRC), today announced the Company has secured several new DME contracts while commencing production of the Company's new DME facility ahead of schedule.

As part of the Company's increase in DME capacity from 50,000 tons of annual production capacity to 150,000 tons, management has been actively building a pipeline of new contracts with major distributors in the region. The Company has been awarded a total of $4.3 million in new monthly contracts, which is expected to begin contributing to revenue in the second fiscal quarter of this year. To December 2007, 90% of the total output had been pre-ordered by the customers. New customers include Xin-Ao Group, Jing-Zhou-Long Teng Group and Luo-Yang-Er-Yun. These orders represent initial purchase commitments and management expects to solicit both follow on orders from these customers in addition to new perspective distribution agreements in the near term.

To meet this demand, management has begun to utilize the additional 100,000 tons of capacity beginning in August, ahead of the previously stated September launch. DME production in August was estimated to be approximately 8,000 tons and is expected to increase to 10,000 tons per month by the end of September. Going forward, management will look to increase monthly DME production capacity to approximately 10,500 tons of DME output which under an ideal operating capacity scenario would equate to approximately $57 million in full year revenue at current market prices.

Demand for DME remains strong given the measurable discount in price in relation to liquid petroleum gas (LPG) for use in home heating and cooking and to diesel for commercial and residential vehicles. In addition to the lower cost, DME holds many other significant benefits such as reduced emissions, increased energy efficiency and ease of use.

"We are pleased to report that we are ahead of schedule in launching production of our new DME facility while securing new orders to ensure the highest utilization of our assets," commented Mr. Chen Si Qiang, the Company's Chief Executive Officer. "With our move to 150,000 tons of available DME capacity we believe we are one of the largest producers in China. Given the Country's insatiable appetite towards energy consumption and a desire to reduce dependency on foreign oil by the Central Government in addition to mounting environmental concerns we believe New Oriental is well positioned to capture a large percentage of this future growing business as DME gains momentum in the market. We look forward to showing traction on these initiatives when we report our second quarter results in mid November," concluded Mr. Qiang. more

Financial Highlights For  NOEC

"We believe that NOEC is well-positioned to benefit from the favorable trend in its core business (fertilizers) while capitalizing on the growing opportunity of the alternative fuel market.

We believe that NOEC is attractively valued in relation to the industry average. Since the company operates in two industries, we believe that it is more appropriate to use the average of the figure derived from the agricultural chemical industry and specialty chemical industry as the basis for our valuation. The company is embarking on several large investment projects to expand its production capacity while developing new alternative fuels similar to DME and methanol. NOEC is already in the process of developing biodiesel and expects to add 300,000 tons of annual production to its product mix in the next three years. On the basis of the favorable market outlook and the company's aggressive expansion strategy, we expect that its revenue will grow at an annually compounded rate of 50.31% for the next two years. We expect that earnings will grow at an annually compounded rate of 57.81% in the same period. On the basis of the company's potential for growth, we generate a 12-month target price of $8.75, which translates into a forward P/E of 20.8x projected earnings for FY07.''

The analysts contributing to this report do not hold any shares of NOEC. Additionally, the analysts contributing to this report certify that the views expressed herein accurately reflect the analysts' personal views as to the subject securities and issuers. RedChip certifies that no part of the analysts' compensation was, is, or will be, directly or indirectly, related to the specific recommendation or views expressed by the analyst in the report. This report is based on data obtained from sources we believe to be reliable, but is not guaranteed as to accuracy and does not purport to be complete. As such, the report should not be construed as advice designed to meet the particular investment needs of any investor. NOEC is not a client of RedChip Companies, or any of its affiliates.

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