Due to accounting concerns with Chinese companies, some are priced very attractively for value investing. Longwei Petroleum Investing Holdings ( LPH , quote ) is one such stock.

engages in the wholesale distribution of finished petroleum products in the People's Republic of China. The company is involved in the transportation, storage, and sale of finished petroleum products, including diesel, gasoline, fuel oil, and solvents from various petroleum refineries. It also acts as a purchasing agent for other intermediaries; and operates two retail gas stations, which sells diesel and gasoline. The company markets its products to commercial, industrial, retail, and wholesale customers, including coal mining operators, power suppliers, large-scale gas stations, and small and independent gas stations."

To increase its storage capacity by almost 100%, Longwei is buying a new storage facility . The stock price is starting to catch up with corporate developments, up 33% for the last month of market action. Year to date, Longwei Petroleum has risen by 17.69%. Overall, the Chinese stock market is starting to recover with the main exchange traded fund, iShares FTSE 25 China Index ( FXI , quote ) slowly gaining.

Longwei Petroleum should be attractive to value investors. The price-to-book ratio is 0.49 and the price-to-sales ratio is 0.31. The price-to-earnings ratio is 2.22. There is growth with the value; earnings-per-share has increased by 42.52% this year. The average company has a return-on-equity (ROE) of around 15%. Longwei Petroleum has a ROE of 25.29%. The return-on-assets is robust at 24.39%.

The company has the highest mean analyst rating possible of 1. The mean analyst target price for LPH over the next year is $6.00; the stock currently trades at about $1.50.

Longwei Petroleum also has a high beta of 2.53. Investors can accumulate a long term position at low prices on its dips. At such a low price and with such a high beta, this stock is ideal for day trading.