BEIJING, July 30 /PRNewswire-FirstCall/ -- American Dairy, Inc. (NYSE: ADY - News) one of the leading producers and distributors of milk powder and soybean products in China, today announced that Feihe Dairy was named "National Leading Enterprise of Agricultural Industrialization" by China's Ministry of Agriculture, National Development and Reform Commission, Ministry of Finance, Ministry of Commerce, The People's Bank of China, State Administration of Taxation, China Securities Regulatory Commission and the China Supply and Mr. Leng You Bin, Chief Executive Officer of American Dairy, stated, "This is one of the highest honors a Chinese company can receive from the state and today's announcement speaks to our hard work to make Feihe Dairy a leading producer of infant formula in China. As a National Leading Enterprise, we anticipate a series of preferential policies from the Chinese government, most importantly, an exclusion from the central government's corporate income tax policy through 2010. While we already enjoy a municipal government tax abatement through 2009, today's news grants us central government corporate income tax abatement through the end of 2010." Yea it's just another tax free year but it's also a treat to isolate a China food play that you can feel comfortable with>> this blessing by the gov now after so many high pub foul ups in the food sector- I think is significant and gives them a leg up on the competition. ~ stoney
I played this ADY a few times last winter for nice gains every time, except the last one. Haven't looked at it since. It's certainly volatile and thinly traded, so that adds to the excitement. Does appear to be on a new uptrend. Bumped it's head on the 200 day today, but couldn't cross it. I'm a buyer above $18.95. With milk being the main nutrition of Chinese Miners, sales are sure to be good.: 69 trapped Chinese coal miners fed milk Tue Jul 31, 6:53 AM ET Rescuers poured milk down a coal mine's ventilation pipes in a bid to save 69 workers trapped underground for more than 50 hours in central China, state media said Tuesday. Late Monday, 400 kilograms of milk was sent down 2,624-foot long ventilation pipes into the pit, it said. Rescuers were hoping the milk would "prolong the miners' lives and give rescuers more time to eventually save them," it said. China's coal mines are the world's deadliest, with fatalities reported nearly every day in fires, explosions and floods despite government efforts to improve safety. Deadly accidents often are blamed on mine owners who disregard safety rules and fail to invest in required ventilation, fire control and other equipment. The miners were all rescued - so don't give me any shit - it's a JOKE.