China Opportunity Acquisition (OTC BB:CHNQ)

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All Financial Target Agreements SPAC Activity

Saturday, January 31, 2009

CHNQ Sets Date for Special Meeting of Stockholders to Vote on the Proposed Merger with Chinese Specialty Steel Company ( Golden Green Enterprises)for Tuesday, March 10, 2009 at 10:00 a.m. Eastern Time. The company entered into a preliminary merger agreement on November 13, 2008.

Source: Business Wire (January 30, 2009)

Details Worth Noting:

Golden Green Enterprises is a leading independent manufacturer of high precision, ultra-thin, cold-rolled specialty steel products in China
Large growth opportunity supported by economic growth in China and limited domestic supply
Solid historical and projected growth trends: Golden Green Enterprises 2007 revenue and net income were $139.6 million and $23.7 million, respectively – up 41% and 49%, respectively year over year
High barriers to entry due to capital intensive nature of the high-end steel products industry
Limited exposure to commodity price fluctuations
Combination will allow the business to increase capacity in an under-supplied market and expand into other high margin products

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