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The last time Cleantech Solutions International Inc. (NASDAQ:CLNT) was mentioned on Seeking Alpha was back in November and December of last year. At that time, two articles were posted detailing physical visits to Cleantech's manufacturing warehouse in China. The first one was quite negative about Cleantech's facilities and prospects, while the second one was a bit more positive.

Several days after that, Dutch Trader mentioned that he was going long on CLNT, partially due to Cleantech's hiring of an American CFO. Any potential for cooking the books, which was one of the biggest concerns cited in the original bearish article, would be reduced if an American was on-board, or so the reasoning went.

Another concern in the original article was that Cleantech's auditing firm was one with a history of seeing their Chinese clients delisted by the SEC for fraud. Perhaps the hiring of an American CFO had an effect, as Cleantech announced on January 29 that they were hiring a new auditing firm: RBSM LLP.

This announcement of a new auditing firm came two weeks after news that they had received $1.9 million in follow-on orders for new airflow-dyeing machines. A week before that, CLNT also announced $3.2 million in orders for their dyeing machines. Over $5 million in new orders, a new auditing company and a new CFO give investors a little bit more reason to be hopeful about this stock.

This is a small cap Chinese stock and there are, as with all stocks, risks inherit to that.

The past year has been a roller coaster ride for anyone who was holding this stock. With a volatility average of over 200%, a 52-week range from $1.65-$8.81/share, and a 1:10 reverse split, it's enough to require a motion sickness bag. The most stabilizing aspect of the stock may be that there isn't much in terms of shorting going on, with around 200k short interest on a stock that trades about 100k in volume every day.

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It seems like Cleantech is trying to set about addressing the issues that so often scare off investors from Chinese stocks these days. They're getting rid of their old audit team, hiring an America CFO, and publicly announcing significant buy orders contributes to that. Will that be enough to attract investors? That remains to be seen, but this stock might be one to keep an eye upon.

Disclosure: I have no positions in any stocks mentioned, and no plans to initiate any positions within the next 72 hours. I wrote this article myself, and it expresses my own opinions. I am not receiving compensation for it (other than from Seeking Alpha). I have no business relationship with any company whose stock is mentioned in this article.