China Fishery - Mixed calls from analysts.

Date/Research House/Stock/Last Done/Target Price/Call/Valuation Method

02/07/11	CIMB	China Fishery	2.18	2.55	Outperform	PER12.5x
02/07/11	DBS Vickers	China Fishery	2.18	2.38	Hold	PER13x
03/25/11	DBS Vickers	China Fishery	2.01	2.38	Hold
03/28/11	DBS Vickers	China Fishery	2.07	2.38	Hold
02/07/11	DMG & Partners	China Fishery	2.14	2.18	Neutral	PER10x
02/28/11	DMG & Partners	China Fishery	1.91	2.18	Neutral
03/25/11	DMG & Partners	China Fishery	2.01	2.18	Neutral
04/07/11	DMG & Partners	China Fishery	2	2.18	Neutral
04/12/11	DMG & Partners	China Fishery	1.8	2.18	Neutral
05/13/11	DMG & Partners	China Fishery	1.78	1.77	Neutral	PER12x
05/25/11	DMG & Partners	China Fishery	1.66	1.77	Neutral	PER12x
06/02/11	DMG & Partners	China Fishery	1.55	1.77	Buy	PER12x
04/28/11	UOB Kay Hian	China Fishery	1.78	2.48	Buy

Baltic Dry Index (BDI) - 1434

Quote:


The Baltic Exchange's main sea freight index fell to a two-week low of 1,434 points on Wednesday, down 1.15 per cent or 22 points from the previous session.


End Quote.

China Farm - Buy call from DMG.

Date/Research House/Stock/Last Done/Target Price/Call/Valuation Method

02/08/11	DMG & Partners	China Farm	0.26	0.43	Buy	PER11x
03/03/11	DMG & Partners	China Farm	0.27	0.43	Buy	PER11x
05/04/11	DMG & Partners	China Farm	0.26	0.43	Buy	PER11x
05/24/11	DMG & Partners	China Farm	0.26	0.43	Buy	PER11x

China Environment - Buy call from DMG.

Date/Research House/Stock/Last Done/Target Price/Call/Valuation Method

02/17/11	DMG & Partners	China Environment	0.215	0.29	Under Review
02/18/11	DMG & Partners	China Environment	0.21	0.31	Buy	PATMI 9x
05/04/11	DMG & Partners	China Environment	0.2	0.28	Buy	PER9x
05/25/11	DMG & Partners	China Environment	0.175	0.28	Buy	PER9x
05/31/11	DMG & Partners	China Environment	0.2	0.28	Buy

China Animal - Buy calls for this animal feeds company.

Date/Research House/Stock/Last Done/Target Price/Call/Valuation Method

02/14/11	Amfraser	China Animal	0.355	0.47	Buy	PER14x
02/09/11	DBS Vickers	China Animal	0.36	0.45	Buy	PER13x
02/09/11	DBS Vickers	China Animal	0.36	0.45	Buy
02/24/11	DBS Vickers	China Animal	0.32	0.45	Buy	PER13x
04/25/11	DBS Vickers	China Animal	0.31	0.45	Buy	PER13x
05/26/11	DBS Vickers	China Animal	0.26	0.45	Buy	PER13x
06/02/11	DBS Vickers	China Animal	0.27	0.45	Buy
01/05/11	DMG & Partners	China Animal	0.4	0.48	Buy
02/07/11	DMG & Partners	China Animal	0.35	0.48	Buy
02/09/11	DMG & Partners	China Animal	0.36	0.48	Buy
02/24/11	DMG & Partners	China Animal	0.315	0.48	Buy
02/25/11	DMG & Partners	China Animal	0.31	0.48	Buy	EV/Ebitda 7x, PER15x
02/28/11	DMG & Partners	China Animal	0.31	0.48	Buy
03/21/11	DMG & Partners	China Animal	0.29	0.48	Buy
03/25/11	DMG & Partners	China Animal	0.31	0.48	Buy
04/25/11	DMG & Partners	China Animal	0.31	0.42	Buy	EV/Ebitda 7x, PER14x
05/24/11	DMG & Partners	China Animal	0.265	0.42	Buy	EV/Ebitda 7x, PER14x
01/27/11	Kim Eng	China Animal	0.335	0.48	Buy	PER15x
02/24/11	Kim Eng	China Animal	0.315	0.48	Buy
06/09/11	Kim Eng	China Animal	0.255	0.46	Buy	PER15x

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