Beware; we have ridden BIDU from 150—If you have been long since then you need to take off your initial investment and let the rest ride. With a PE of almost 200—I would wait for a pullback into the 280 levels and then re-enter. While, BIDU has pulled up the whole Chinese sector in general these other stocks are MUCH cheaper then BIDU. Last quater they only beat EPS by a penny. Lets not forget that.

Kong specializes in the development, marketing, and distribution of consumer wireless value-added services. Kong is currently trading at a huge discount and has been for sometime. With a market cap of $180million market cap and with Total Cash on the balance sheet of $120million KONG is trading an insanely low evaluations

SNDA also, engages in the development and operation of online games in China; specializing in multiplayer online role playing games and casual games. It has $600MM in cash and 63% profit margins. Near, its 52-week high I put this one on my watch list.

This stock fits all of our criteria. Its also a Chinese online gaming company (like .The company has $438 million in net cash. So with a $2.2 billion market cap and $200 million in cash flow they only trade at nine times cash flows. Analysts expect earnings to go from 1.15 earnings per share in 2007 to 1.23 earnings per share in 2008. NTES beat analyst expectations the past four quarters in a row. If they beat again in 2008 then they have a forward P/E of 13 or even lower.

Online games portal; $112 mm net cash. Quoting John Reese on thestreet.com: "The9 Ltd : The9 has exclusive rights to operate World of Warcraft and other online games in China. Like Stryker, it is favored by the O'Neil strategy. The company's quarterly and annual EPS are increasing. Earnings have also shown nice consistency, having increased in each of the last five years” Given the fact that the stocks price is 20 points from hits 52-week high, investors should consider this name. And like most of these companies it has zero debt.

Good Steel company that had a massive move yesterday. A few months ago the CFO said "No Demand Slowdown In Sight"-- Little Cash on the books though.

PACT provides outsourcing, telecom value-added, and telecom and gaming services in China, Hong Kong, Macau, and Taiwan. It works in three different sectors; Outsourcing Services, Telecom Value-Added Services, and Products. As outsourcing increases in China and Macau PACT is an interesting name that might benefit. Currently, most Macau plays have been overbought by investors that are trying to profit off its amazing growth. PACT might be one of the few companies still left. Only 5MM in cash on the books.

Since the Chinese maker of solar cells and modules came public in an IPO offering 6 months ago, its shares have hit a high of roughly $17 on heavy volume but have pulled back about $6 on earnings worries. With a ton of cash on the balance sheet and the fact that a recent solar conference was held shares could rally.