UPDATE: Bullworthy, LLC Initiates Coverage on Ziyang Ceramics Corporation With Detailed Research Report

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WEST PALM BEACH, FL--(Marketwire -06/19/12)- Bullworthy, LLC, a digital investor and press relations firm focused on producing high-quality web content, is pleased to announce the company's analysts have initiated coverage on Ziyang Ceramics Corporation (ZYCI), a leading manufacturer of interior porcelain wall and floor tiling for residential and commercial applications in Zhucheng, China.

Tom Copeland and Michael J. Carr CMT, both co-founders and partners at Bullworthy, LLC, engaged in a content and partnership agreement with Ziyang Ceramics in which the analysts have produced and distributed a detailed equities research report on the issuer. The 25-page Bullworthy Equities Research Report: Ziyang Ceramics (ZYCI) is now available for review and download in PDF form by clicking the link. It's hosted at Ziyang Ceramic's Bullworthy IR profile, featuring original journalistic and editorial commentary and analysis specifically tailored for ZYCI investors.

The purpose of the report is to provide other buy and sell side analysts, retail and institutional investors with a complete, realistic, and professional analysis of the issuer's business, stock and market opportunity.

Where other microcap stock research reports fail to deliver on a comprehensive, objective dissection of their subject's stock, market opportunity, and financial performance with pragmatic valuation projections and recommendations, Bullworthy analysts covering Ziyang Ceramics believe they've been thorough and diligent.

The report cites research and data collected on topics that range from the company's background, product line, and operations to the residential and commercial real estate market trends towards urbanization of major Chinese cities. The Financial Performance section provides a unique perspective and insight, with Bullworthy, LLC analyst writing, "Ziyang Ceramics has for the last two years enjoyed positive cash flow from operational activities."

The report comes on the heels of Ziyang Ceramics reporting impressive 1Q 2012 earnings on May 16th, 2012, in which the company reported net revenues of $11.4 million, an increase of 52.5% from the first quarter of 2011. The company also reported net income of $3.2 million, or $.42 per share on 7.5 million shares outstanding, its fourth straight profitable quarter.

In regards to the growing purchasing power and influence of China's growing middle class and a trend towards urbanization, an excerpt from the report reads, "A majority of international home décor and design trade shows today are concentrated in Chinese cities." Analysts go on to suggest how the popularity of home décor in China provides one possible explanation for Ziyang Ceramics' robust 1Q 2012 top-line revenue growth, and the nearly 39% increase in net revenues year-over-year from 2010 to 2011.

The report also addresses both the U.S. and global market demand and risks for interior porcelain floor and wall tiling; the state and nature of the white clay market from which the company derives the vast majority of its raw materials; and a Conclusions and Analyst Opinion section validated with third-party data and sources.

Bullworthy, LLC's 12-18 month price target using the Bullworthy Composite Valuation Model (BCVM) is $9.25 a share. The model is calculated using formulas that include price-to-earnings ratios, price-to-book ratios, and discounted cash flow with conservative variables, and smoothed for a final, average price target.

Quoted from the report, "Ziyang seems to have positioned itself well in all major aspects of their industry's best practices and operations, from quality control and development of new product lines to market access and long-term cost structuring, to continue benefiting from domestic demand from both individual consumers and commercial real estate developers for the company's ceramic and porcelain flooring and wall tiles."

Per the coverage agreement, Bullworthy, LLC, nor their company's shareholders have accepted compensation from Ziyang Ceramics of its affiliated shareholders for this coverage. Representatives of Ziyang Ceramics have agreed to provide Bullworthy with feedback on the services they provide.