DALLAS, Jan. 5, 2011 (GLOBE NEWSWIRE) -- MicroStockProfit.com announces an investment report featuring Qiao Xing Universal Resources Inc. (Nasdaq:XING). The report includes financial, comparative and investment analyses, and industry information you need to know to make an educated investment decision.
The full report is available at:
Qiao Xing Universal Resources Inc. (XING) is an emerging Chinese resources company focused on several strategically important nonferrous metals such as molybdenum and copper. The Company, through its subsidiary, China Luxuriance Jade Co. Ltd. (CLJC), owns the rights to receive the expected residual returns from Chifeng Haozhou Mining Co. Ltd., a copper-molybdenum poly-metallic mining company in Inner Mongolia, China. XING's molybdenum business started operation in July 2009, and generated net income of RMB64.2 million ($9.4 million) in the second half of 2009.
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In the report, the analyst notes:
"In December, the Company announced its subsidiary entered into a definitive agreement with Chifeng Xingu Mining Co. Ltd., to acquire the 100% equity interest in Balinzuo Banner Xinyuan Mining Co. Ltd. (Xinyuan), which owns a mining license for a lead-zinc-copper mine that covers 3.3233 square kilometers in Wulandaba Suma, Balinzuo Banner, in the Inner Mongolia Autonomous Region of the People's Republic of China.
"XING is trading above its 13-day moving average. This is considered to be the sign of a bullish trend. There is added weight to this indication because the moving average is rising and suggests that there has been buying interest in this stock."
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