A Chinese Stock That’s Doing Great

The majority of Chinese stocks have had a difficult time on the stock market this year. Most are well down from their previous highs. Whether it be large- or small-cap, Chinese stocks have been suffering.

So, it is surprising to see some Chinese stocks accelerating this year—a year that’s been difficult for the entire stock market. One such company is Bitauto Holdings Limited (NYSE/BITA), which is a small, but growing Internet company in China that sells marketing and Internet content services to the automotive industry. The company helps new and used automotive dealerships advertise their inventories online, and business is good.

Like many Chinese stocks, Bitauto had a tough year on the stock market in 2011, but the company’s share price has turned around and the numbers show a lot of growth. Bitauto’s stock market chart is featured below:

Chart courtesy of www.StockCharts.com

According to the company, its revenues in third quarter of 2012 grew 56% to $44.0 million. Non-GAAP earnings were $5.8 million, representing a gain of 27%. The company expects fourth-quarter revenues to be between $49.0 million and $51.0 million, representing growth of between 36% and 41% over the same-quarter last year.