GUERRILLA CAPITAL MANAGEMENT, L.L.C.

237 PARK AVENUE 9TH FLOOR, NEW YORK, New York, 10017, (212) 692-7692

Report Date: 03/31/2012

Institutional Holdings information is filed by major institutions on form 13-F with the Securities and Exchange Commission.

Company	Class	Value of Shares ($1,000s)	Change in Value	Change (%)	Shares Held
CHINA PHARMA HLDGS INC	COM	699,585	(15,741)	(2.2)	2,119,956
AMERICAN LORAIN CORP	COM	2,344,248	(506,284)	(17.76)	1,860,514
CHINA YIDA HOLDINGS CO	COM NEW	899,436	(3,818)	(0.42)	1,083,658
FUSHI COPPERWELD INC	COM	6,428,829	(148,165)	(2.25)	945,416
YONGYE INTL INC	COM	2,717,495	11,680	.43	930,649
QKL STORES INC	COM	455,626	(26,318)	(5.46)	813,618
CHINA XD PLASTICS CO LTD	COM	1,861,456	57,119	3.17	386,997
CHINACAST EDU CORP	COM	1,566,582	123,041	8.52	369,477
LJ INTL INC	ORD	465,222	1,410	.30	329,945
SORL AUTO PTS INC	COM	878,435	0	New	306,075
ZHONGPIN INC	COM	2,210,160	(76,609)	(3.35)	239,454
TIANYIN PHARMACEUTICAL CO INC	COM	111,957	(8,946)	(7.4)	223,913
GULF RESOURCES INC	COM PAR $0.0005	364,062	8,350	2.35	218,001
ASIA ENTN & RESOURCES LTD	SHS	929,774	4,370	.47	212,763
AMERICAN ORIENTAL BIOENGR INC	COM NEW	279,928	(284,020)	(50.36)	184,163
CHINA BOTANIC PHARMACEUTICAL	COM	62,901	(38,308)	(37.85)	123,336
GENERAL STEEL HOLDINGS INC	COM	89,769	(86,000)	(48.93)	104,382
CHINANET ONLINE HLDGS INC	COM	57,541	(10,115)	(14.95)	91,335
CHINA SHENGDA PACKAGING GROUP	COM	61,352	0	New	85,211
EVER GLORY INTL GRP INC	COM NEW	142,835	(35,284)	(19.81)	81,620