First Foray into Hong Kong

I picked up some shares in China Rare Earth Holdings(0769.HK).
中國稀土控股有限公司
INTERIM RESULTS ANNOUNCEMENT FOR THE SIX MONTHS ENDED 30 JUNE 2009

Profit for the six months ended June 30 was HK$0.0148 versus HK$0.1568 a year ago.

Net cash was HK$860 million versus HK$355 million in current liabilities and HK$296 million in non-current liabilities.

Company reports HK$2.5 billion in equity versus HK$2.65 billion in market capitalization.

The stock recently rallied when a spurt in global markets coincided with China's intention to restrict rare earth exports. The limits actually hurt the firm, however, since it will not be able to sell to the highest bidder.