In the continuing story of undervalued and unappreciated U.S.- listed Chinese stocks, a real global innovator just reported excellent financial growth that beat Wall Street expectations.

Response to the numbers was muted, however, because the stock market isn't much interested at this time. Someday, this lack of interest will change and small, growth stocks like this will be the market darlings.

Founded in 1992, China Architectural Engineering, Inc. (NASDAQ/CAEI) specializes in the engineering and installation of high-end, structural glass wall systems. These include glass curtain walls, stone curtain walls, metal curtain walls, roofing systems, and related products, for public works projects and commercial real estate.

The company has designed and installed nearly 100 projects throughout China, including the National Grand Theater, Exhibition Conservatory of Beijing Botanical Garden, The COSCO Tower at Changlian Avenue Beijing, the Wumen Exhibition Hall in Beijing's Forbidden City, and a number of commercial structures in Southeast Asia.

Now, China Architectural is going global and the company just received its first contract in New York City.

The company just reported record revenues of $41.38 million, representing impressive growth of 113% over revenues of $19.45 million generated in the second quarter of 2007. China Architectural cited strong domestic demand for its products and services along with great interest from new markets in the Middle East and the U.S. as reasons for the growth.

Net income for the second quarter of 2008 was $7.58 million, or $0.14 per fully diluted share, up some 75% on a per-share basis from $4.28 million, or $0.08 per fully diluted share, in the second quarter of 2007. This is exceptional profitability for this industry.

China Architectural reported that its current backlog of projects is expected to produce annual revenues of some two hundred and forty million dollars, up significantly from the company's estimate of two hundred and eight million dollars in the first quarter of the year. The backlog of projects is also expected to increase in the second half of this year due to anticipated large contract awards.

China Architectural's stock price is due for a breakout, but I don't know when this will happen. This company is like many others in its group: unappreciated and under-recognized for its success.

Someday, this is going to change.