This stock fits all of our criteria. Its also a Chinese online gaming company (like SNDA). 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. Have analysts been correct in the past? Not really. 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. NTES is first on my list of Chinese Rocket Stocks. NTES is on an interesting portfolio of the companies of young billionaires.

CHINA CDC Corp runs China.com and sells both enterprise software to companies in China as well as online games. The company has $247 million in net cash on a $961 million market cap. Analysts expect earnings to go from 43 cents a share in 2007 to 57 cents a share in 2008, giving it a forward P/E of 14 despite 30% growth. The company has met or beaten estimates for four quarters in a row.

- provides B2B software to fuel the import/export process from Chinese companies. - $132 million market cap - $118 mm cash in the bank! This gives it an enterprise value of just $13mm. - $4.3mm EBITDA

Hurray! Holding Co., Ltd. engages in the artist development, music production, and offline distribution in China. It acts as online distributor of music and music-related products, such as ringtones, ringbacktones, and truetones to mobile users through various wireless value-added services platforms over mobile networks and through the Internet. The company's wireless value-added services include 2.5G services, such as wireless application protocol (WAP) services, including ringtone downloads, picture downloads, community services, games, pop culture, news and finance, and personal information management service; multimedia messaging service; and games based on the Java platform. Its wireless value-added services also incldue 2G services, including short message service, interactive voice response, and ring back tone. Hurray! Holding also provides other wireless value-added services, such as games, pictures and animation, community, and other media and entertainment services. Major Issue: Chinese Bootleggers. Market Cap: $90MM, Cash on Hand: $70MM Major Holders: Wellington Management owns 1,545,800 shares; Farallon Capital Management owns 600,000 shares; Level Global Investors owns 370,407 shares; Renaissance Technologies owns 335,490 shares

SINA Corporation operates as an online media company and information services provider in the People's Republic of China. It provides region-focused online portals, MVAS, search and directory, interest-based and community-building channels, free and premium email, blog services, audio and video streaming, online games, classified listings, fee-based services, e-commerce, and enterprise e-solutions. The company operates in five business lines: SINA.com, SINA Mobile, SINA Community, SINA.net, and SINA E-Commerce. The SINA.com business line offers advertising products, including banner, button, and text-link advertisements; promotional sponsorships that are event-specific; and advertising campaign design and management services. Total Cash: $382.67MM, Total Debt: $100MM, Revenue: $217.42MM, Short Position of 6.1% Major Holders: Lone Pine Capital owns 4,670,695 shares; Gilder Gagnon Howe owns 3,055,991, Fidelity International owns 3,009,943; Bridger Management owns 2,912,644 shares.

- online portal and search company - analysts estimate earnings going from 66 cents a share to 1.07 - potential short squeeze possibility with a short ratio of 5 - official sponsor of the 2008 Olympics. This should allow it to compete more effectively with BIDU as we get into next year.

- online games portal - 167% year over year growth - $25mm net cash - forward P/E of 15 - on the Freakonomics: Poker Stocks list.

- $112mm net cash in the bank, no debt. - 40% YoY growth expected on a 45 forward P/E. - just announced a dividend of 30% of its 2007 profits.