First quarter fiscal year 2010 research note on Longwei Petroleum Investment Holding Ltd. (OTCBB:LPIH) has been announced by RedChip Visibility

Rahul Sowani, Research Analyst for RedChip, reported: "Longwei's 1QFY10 performance was better than expected and the top line will further strengthen as the new Gujiao facility becomes fully operational. Management is expecting an additional $40 million in revenue and $6 million in net profit in FY10 which we believe is attainable given the vast customer base available in Gujiao. With strong macro-economic indicators of the Chinese economy and the Gujiao facility development nearing completion, we expect Longwei to strengthen its current market position and aggressively pursue additional market share in Shanxi Province."  

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Longwei Petroleum Investment Holding Limited is an energy company that, through its subsidiaries, engages in oil and gas operations in the People’s Republic of China. Oil and gas operations consist of transporting, marketing and selling finished petroleum products. The Company’s primary facilities are located in Taiyuan, Shanxi Province (Shanxi). The Company purchases diesel, gasoline, fuel oil and kerosene (the Products) from various petroleum refineries in the People’s Republic of China. The Company seeks to earn profits by selling its Products to gas stations, coal plants and other power supply customers and small, independent gas stations. The Company operates in two segments: Product Sales, which is engaged in purchasing and selling diesel, gasoline, fuel oil and kerosene in the People’s Republic of China, and Agency Sales, which acts as an agent in the purchase and sale of products by other gas and oil distributors in the People’s Republic of China.

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