Rodman & Renshaw Maintains China Gengsheng Market Perform

Rodman & Renshaw maintained its China Gengsheng Minerals CHGS Market Perform rating in a research report published today. In the report, Rodman & Renshaw states, "In light of China's increasingly inflationary environment, the company's slightly below-expectation gross margin in Q2 did not strike us as a major surprise. The moderately higher than expected operating expenses were also not necessarily alarming, in our view. Our major concern resides in the significant increase of finance costs, and more specifically, increase in bills discounting charges, in the quarter." Shares of China Gengsheng Minerals closed today at $1.67, up 7.74% from Friday's market close.