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Andatee China Marine Fuel Services Corp (AMCF) RSS Feed

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Created
03/01/10
Type
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(NASDAQ:AMCF)


Andatee China Marine Fuel Services Corporation, through its subsidiaries, engages in production, storage, distribution, and trading of blended marine fuel oil for cargo and fishing vessels in the People's Republic of China. The company also produces blended marine fuel according to customer specifications. Its blend of marine diesel oil is used as substitute for the traditional diesel oil. The company sells its products to retail customers through distributors primarily in Liaoning, Shandong, Jiangsu, and Zhejiang provinces, as well as in Tianjin City. Andatee China Marine Fuel Services Corporation is based in Shanghai, the People's Republic of China.



Website: http://www.ir-site.com/andatee/index.asp


==========================================================================================================================================================================================

AMCF's subsidiary is a joint venture with CNPC, the largest petroleum company in China.

Andatee China Marine Fuel Services Corporation ("Andatee" or the "Company") through its operating subsidiary Dalian Xing Yuan Marine Bunker Co. Ltd. (Xing Yuan) is engaged in the production, storage, distribution and wholesale purchases and sales of blended marine fuel oil for cargo and fishing vessels.

Xing Yuan was founded in 2001 by Mr. An Fengbin as a joint venture with CNPC Corp's Dalian subsidiary (China Petroleum and Chemical Corporation), the largest petroleum company in China. Andatee is in the process of relocating its headquarters from Dalian, Liaoning province, to Shanghai, which is more central to the Company’s operations expanding throughout China. The Company will maintain its presence in the city of Dalian and employs 142 people across its operations in Shanghai and in the Guangdong, Liaoning, Shandong, Tianjin, and Zhejiang provinces in the PRC.

China’s marine fuel market is expected to more than double between 2008 and 2013. The national market for small and medium vessels is highly fragmented and largely served by small fuel trading companies. This market is characterized by limited competition as well as uneven product quality and service. Andatee's "Xing Yuan" brand is well recognized for its superior product quality and competitive pricing compared to other marine fuels in the underserved small & medium fishing and cargo vessels market. The Company's internal innovation capabilities and stringent quality control allows the Company to enter new provinces very quickly. Andatee has been actively building and acquiring proprietary sites and distribution infrastructure to become the leader in the industry.

The Company’s strategy of vertical integration has allowed Andatee to become the largest privately owned company engaging in marine fuel production and distribution in Northern China. Andatee’s goal is to become a “one-stop-shop” for marine port services by providing petroleum products, maintenance, payment services, and marine supplies for boat operators. The corporation believes that their “Andatee Marine Service Depot” for vessels will increase their customer base as they enter the value-added port services industry.



http://www.ir-site.com/andatee/overview.asp

CNPC~~ China Petroleum and Chemical Corporation, the largest petroleum company in China.

http://www.cnpc.com.cn/en/aboutcnpc/

Warren Buffet made $3.5 billion profit from CNPC stock

Buffett revealed he made US$3.5 billion from CNPC stocks and was looking to find a new company with similar circumstances.

http://www.china.org.cn/business/2012-05/07/content_25322077.htm

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AMCF, Third Quarter 2013 Highlights: PROFIT INCREASED 6900%

Revenue in the third quarter of 2013 was $61.5 million, a 95% increase from the second quarter of 2012
Gross profit increased around 6900% year over year to $4.9 million as compared to $0.07 million in the same period of 2012, while gross profit margin during the quarter improved 780 base points year over year to 8% from 0.2%
Operating income in the third quarter of 2013 was approximately $1.0 million, a 159% increase from the corresponding period in 2012
The Company ended the quarter with cash balance of approximately $11.3 million and restricted cash of $69.3 million.


http://globenewswire.com/news-release/2013/11/14/590099/10058051/en/Andatee-China-Marine-Fuel-Services-Reports-Third-Quarter-Financial-Results.html

The Company has 9,860,159 shares of common stock outstanding.

http://google.brand.edgar-online.com/DisplayFiling.aspx?TabIndex=2&FilingID=9613744&companyid=810870&ppu=%252fdefault.aspx%253fsym%253dAMCF

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LAST 4 YEARS SHARE STRUCTURE ALMOST THE SAME BETWEEN 9.52 AND 9.86 MILLION
==================================================================

Insiders hold 50.2% of shares

Executive Officers and Directors

An Fengbin 4,890,451 49.6%
Wang Hao 0 *
Wen Jiang (4) 30,750 *
Yudong Hou (4) 27,000 *
Zhenyu Wu 0 *
All directors and executive officers as a group (4 people) 4,948,201 50.2%

5% or more Shareholders
Star Blessing Enterprises Ltd. (3) 4,651,200 47.2%
Wellington Management Company, LLP (5) 692,133 7.3%
Wellington Trust Company, NA (6) 692,133 7.3%


http://google.brand.edgar-online.com/displayfilinginfo.aspx?FilingID=9521996-1024-11007&type=sect&TabIndex=2&companyid=810870&ppu=%252fdefault.aspx%253fsym%253dAMCF

AMCF~ Wellington Management Company holds 7.27% of shares. (780 billion dollars asset management company)

http://google.brand.edgar-online.com/displayfilinginfo.aspx?FilingID=9086882-1631-13632&type=sect&TabIndex=2&companyid=810870&ppu=%252fdefault.aspx%253fsym%253dAMCF

Other Institutional Holders

Holder Shares % Out Value* Reported
Mitsubishi UFJ Asset Management Co., Ltd 100,500 1.02% as of Sep 30, 2013
Renaissance Technologies, LLC 34,500 0.35 as of Sep 30, 2013
Nomura Holdings Inc. 18,232 0.18 as of Sep 30, 2013
CALPERS (California-Public Employees Retirement System) 4,100 0.04 as of Sep 30, 2013


AMCF float 4.7 MILLION

http://finance.yahoo.com/q/ks?s=AMCF+Key+Statistics

AMCF CEO offered $4.21 per share in cash, in 2011.. Shareholder rejected this offer at that time.

DALIAN, China, Nov. 23, 2011 /PRNewswire-Asia/ -- Andatee China Marine Fuel Services Corporation (NASDAQ: AMCF) ("Andatee"), a leading producer, distributor, and retailer of quality marine fuel for small cargo and fishing vessels in China, today confirmed that it has received notice from An Fengbin of his intention to launch a tender offer to acquire all of the outstanding shares of Andatee that he does not already own at a price of $4.21 per share in cash, subject to financing, due diligence and other conditions.

The Board of Directors has established a Special Committee to consider the offer. The Special Committee will consider and take a position with respect to the offer in accordance with applicable legal requirements. Andatee shareholders are advised to take no action with respect to the offer until they have been advised of the Company's position.


http://www.prnewswire.com/news-releases/andatee-china-marine-fuel-confirms-receipt-of-notice-from-an-fengbin-majority-shareholder-and-chief-executive-officer-regarding-his-intention-to-commence-tender-offer-134421118.html


 Revenue per share 28.68 dollars

Revenue: 279.89 million dollars
Revenue Per Share: 28.68
Quarterly Revenue Growth (yoy): 95.30%
Gross Profit : 14.30 million dollars
EBITDA: 12.88 million dollars


http://finance.yahoo.com/q/ks?s=AMCF+Key+Statistics
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