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Interested in gaining exposure to emerging markets such as China? For a closer look at Chinese stocks, we ran a screen.

We began by screening US-traded stocks of companies based in China for those that appear undervalued relative to earnings growth, with PEG below 1.

We then screened these names for those with strong revenue trends compared to accounts receivable over the past year. Since accounts receivable is the portion of revenue not yet received, and there is no guarantee the money will ever be received, the smaller the portion of revenue made up of receivables the healthier the company's revenue.

We screened for stocks seeing faster growth in revenue than accounts receivable year-over-year, as well as accounts receivable comprising a smaller portion of current assets over the same time period.

Interactive Chart: Press Play to compare changes in market cap over the last two years for the stocks mentioned below. Analyst ratings sourced from Zacks Investment Research.

Do you think these stocks have more value to price in? Use this list as a starting point for your own analysis.

List sorted by difference between growth in revenue and accounts receivable over the last year.

1. China XD Plastics Company Ltd. (NASDAQ:CXDC): Through its subsidiary, Harbin Xinda Macromolecule Material Co. Market cap at $235.75M, most recent closing price at $5.02. PEG at 0.22. Revenue grew by 57.3% during the most recent quarter ($113.93M vs. $72.43M y/y). Accounts receivable grew by -6.39% during the same time period ($58.17M vs. $62.14M y/y). Receivables, as a percentage of current assets, decreased from 56.43% to 23.29% during the most recent quarter (comparing 3 months ending 2011-12-31 to 3 months ending 2010-12-31).

2. Deer Consumer Products, Inc. (OTC:DEER): Engages in the design, manufacture, and sale of small home and kitchen electronic appliances. Market cap at $105.14M, most recent closing price at $3.13. PEG at 0.13. Revenue grew by 18.83% during the most recent quarter ($73.95M vs. $62.23M y/y). Accounts receivable grew by -44.91% during the same time period ($32.32M vs. $58.67M y/y). Receivables, as a percentage of current assets, decreased from 50.08% to 29.51% during the most recent quarter (comparing 3 months ending 2011-12-31 to 3 months ending 2010-12-31).

3. 3SBio Inc. (NASDAQ:SSRX): Engages in the research, development, manufacture, and distribution of pharmaceutical products in the People's Republic of China. Market cap at $291.32M, most recent closing price at $13.37. PEG at 0.87. Revenue grew by 38.24% during the most recent quarter ($139.88M vs. $101.19M y/y). Accounts receivable grew by 20.16% during the same time period ($161.19M vs. $134.15M y/y). Receivables, as a percentage of current assets, decreased from 16.91% to 16.24% during the most recent quarter (comparing 3 months ending 2011-12-31 to 3 months ending 2010-12-31).

*Accounting data sourced from Google Finance, all other data sourced from Finviz.

Source: 3 Undervalued Chinese Small Caps With Strong Receivable Trends