Watch List Profile: Man Sang Holdings, Inc.

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Man Sang Holdings, Inc. (AMEX: MHJ)
Tsimshatsui Kowloon, HKG
http://www.man-sang.com/

52-week low / high: $3.95 / $16.46
Shares Outstanding:  6.38 million
Market Capitalization:  $81.06 million

Man Sang Holdings, Inc. is a wholesaler and processor of pearls, pearl jewelry products and other jewelry products. The company also derives income from real estate holding in Shenzhen, People's Republic of China (PRC) and from its processing facility in the PRC and Hong Kong.

The company offers multiple product lines of pearls and pearl jewelry, from freshwater to Japanese cultured pearls to necklaces, pendants, bracelets and cufflinks, to name a few. Man Sang sells to over 930 wholesale customers in Europe, the United States and Asia.

Man Sang owns land-use rights to approximately 470,000 square feet in the Gong Ming Zhen, Shenzhen special economic zone and the PRC, where it constructed an industrial complex (Man Sang Industrial City), for which the rights run through 2041.

The company’s Man Sang Industrial City consists of 27 buildings, totaling approximately 813,000 square feet, 18 of which are rental properties. The company utilizes nine for pearl processing, pearl and jewelry assembling, administration and staff accommodation.

Revenues for 2007 (ended March 31, 2007) were $51.35 million, up 5.28% from 2006. Earnings were a very handsome $0.56 per share, up 58% from $0.35 in 2006. The company paid a cash dividend of $0.0323 on Aug. 8, 2007. First quarter 2008 earnings were a robust $0.18, which puts it on track for another banner year.