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Tuesday, October 20, 2020

Volatile Times for Delta Technology Holdings Limited – Ordinary Shares (NASDAQ:DELT)

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Delta Technology Holdings Limited – Ordinary Shares (NASDAQ:DELT) is a small cap player in the Chinese industrial technology space that exploded higher in Thursday’s trade on news that the company was seeing strong performance in recent operations. In a press release, management said that Delta Technology sold 133.30% more products in Q4 2016 than in Q4 2015, revenue from those products increased 139.55%, and unit prices increased significantly in Q4 2016.

The chart shows 130% piled on for shareholders of the name during the trailing week, with the majority coming on action in Thursday’s trade. Furthermore, the name has witnessed a pop in interest, as transaction volume levels have recently pushed nearly 1300% beyond its prior sustained average level. That is a quick read on the market’s evaluation of the new numbers: they came as a surprise, and will likely invite further scrutiny and further interest alike.

Delta Technology Holdings Limited – Ordinary Shares (NASDAQ:DELT) trumpets itself as a company that engages in the manufacture and distribution of pharmaceutical, agrochemical, dye intermediate, and advanced chemical materials. Its activities also includes chemical commodities trading.

It offers organic compound including para-chlororoluene (PCT), ortho-chlorotuelene (OCT), PCT/OCT downstream products, unsaturated polyester resin, maleic acid, and other by-product chemicals and distributing fine and specialty chemicals to end application markets such as automotive, pharmaceutical, agrochemical, dye and pigments, aerospace, ceramics, coating-printing, clean energy, and food additives.

The company was founded in 2007 and is headquartered in Danyang, China.

According to company materials, “Founded in 2007, Delta Technology Holdings Ltd. is a leading China-based fine and specialty chemical company producing and distributing organic compound including para-chlorotoluene (“PCT”), ortho-chlorotoluene (“OCT”), PCT/OCT downstream products, unsaturated polyester resin (“UPR”), maleic acid (“MA”) and other by-product chemicals. The end application markets of the Company’s products include Automotive, Pharmaceutical, Agrochemical, Dye & Pigments, Aerospace, Ceramics, Coating-Printing, Clean Energy and Food Additives. Delta has approximately 300 employees, 25% of whom are highly-qualified experts and technical personnel. The Company serves more than 380 clients in various industries.”

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“Delta Technology is determined to provide higher quality products and to focus our priority resources on higher value-added products and clients. This policy is leading the Company to increased revenue compared to 2015, said Company CEO Mr. Xin Chao.

Mr. Xin Chao also stressed the sales of the organic compound para-chlorotoluene (PCT) have increased dramatically as the Company has executed a contract with Guangzhou Lonkey Industrial Co., Ltd., a listed company in Shenzhen Stock Exchange.

This news builds on recent positive developments for DELT, including the company’s recent announcement that it has entered into a long-term contract to provide a monthly supply of 40 tons of 2-chlorobenzaldehyde (OBCA) to Changzhou Tronly New Electronic Materials Co., Ltd.This is a multi-million dollar contract for Delta Technology Holdings. Changzhou Tronly is a major manufacturer in the high-technology industry with a market value topping $1.2 billion (U.S.). 2-chlorobenzaldehyde is primarily used in medicines and pesticides.

Changzhou Tronly also manufactures products for the manufacture of printed circuit boards, liquid crystal displays and for the semi-conductor and other industries. Its products are sold and patent-protected in China, the balance of Asia, and Europe.

“There is a great priority placed on the purity and stability of the raw materials provided,” said Shi Weiping, head of the Sales Department at Delta Technology. “That’s why we are so pleased that Changzhou Tronly recognizes the advantages Delta Technology presents in production technology and product quality control and has chosen our company to be its exclusive supplier of OBCA products.”

Now commanding a market cap of $16.3M, DELT has a tiny store ($152K) of cash on the books, which compares with a whopping $68.3M in total current liabilities. DELT is pulling in trailing 12-month revenues of $255.4M. However, the company is seeing recent declines on the top line on a sequential quarterly basis, with revenues falling at -26.3% as of its latest reporting period. This is an exciting story, and we look forward to a follow-up chapter as events transpire. For continuing coverage on shares of $DELT stock, as well as our other hot stock picks, sign up for our free newsletter today and get our next hot stock pick!

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