EquityNet Research Initiates Independent Research Coverage on American Jianye Greentech Holdings, Ltd.
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.”
