By John E. Fitzgibbon, Jr.

This week’s new-issues calendar reflects what has been barreling down the IPO Expressway lately: technology and China. This is where the action is.

China

The IPO calendar for the week of March 12 has four deals that are looking to raise about $555 million. Among them are two technology deals and a China-based pharmaceutical company.

As of Friday morning, March 9, bankers have priced 31 IPOs this year, according to available reports. Of that number, 14 were from the technology-related sector. And two were among 2007’s top aftermarket performers.

They were: Accuray, a Sunnyvale, California-based maker of the CyberKnife system used to treat solid tumors as an alternative to traditional surgery—yes, it’s technology—and JA SolarHoldings, a Ningjin, China-based manufacturer of high-performance solar cells—yes, that’s technology and China.

Accuray, JA SolarHoldings, and

Accuray priced 16 million shares at $18 each on February 7. The IPO sold at a high of $31.09 on February 9, and closed on Thursday, March 8, at $24.86, up 38.1 percent from its initial offering price.

JA Solar Holdings priced 15 million shares at $15 each on February 6. The IPO sold at a high of $21.10 on February 23, and closed Thursday, March 8, at $19.80, up 32 percent from its initial offering price.

JA Solar was the last Chinese IPO to make its debut in the United States capital markets until this morning, Friday, March 9.

United States

—Xinhua Finance Media, a Shanghai-based media company that provides financial news and data in China, priced 23.1 million shares at $134 each.

This week’s technology companies going public are BigBand Networks and Photowatt Technologies. And the Chinese deal is Tongjitang Chinese Medicines.

BigBand NetworksTongjitang Chinese Medicines

BigBand Networks and Accuray have something else in common besides the technology sector. That common thread can be found in their respective profit-and-loss statements.

Accuray reported net income of $2 million for the three months ending September 30, compared with a net loss of $10.2 million for the same period a year ago.

Accuray turned the corner to profitability.

For the three months ending September 30, Accuray reported total revenue of $32.8 million, compared with total revenue of $3.9 million for the same period a year ago. That was up 741 percent.

Accuray

Accuray’s revenue was soaring.

BigBand Networks reported net income of $8.9 million for the three months ending December 31, compared with a net loss of $5.8 million for the same period a year ago.

BigBand turned the corner to profitability.

For the three months ending December 31, BigBand Networks reported total revenue of $63 million, compared with total revenue of $26.7 million for the same period a year ago. That was up 136 percent.

BigBand’s revenue was soaring.

This might be a reason why some are calling BigBand Networks “the pick of the week.”

But investors might have to wait until the end of the week to see most of the fireworks. All but BigBand are scheduled to be priced Thursday evening to be traded in Friday’s market. BigBand is expected to be priced Tuesday evening to trade in Wednesday’s market.

Inside This Week’s IPO Calendar

This week’s IPO calendar lists four deals:

The New Faces

A broadband provider (BigBand Networks)

A commodity-trading firm (FCStone Group)

A solar cell manufacturer (Photowatt Technologies)

A Chinese pharmaceutical company (Tongjitang Chinese Medicines)

They are expected to raise about $555 million.

Company Profiles

—BigBand Networks is a Redwood City, California-based provider of network-based technology. Its products enable cable operators and telephone companies to offer video, voice, and data services across coaxial, fiber, and copper networks. The company believes it was the first to implement what has become the industry’s de facto network architecture for digital simulcast. Its product applications of digital simulcast, telco TV, switched broadcast, and high-speed data and voice over IP are a combination of modular software, programmable video, and data hardware.

BigBand Networks plans to price 7.5 million shares at $10 to $12 each to raise $117.7 million. The company will offer 7.5 million shares and selling shareholders will offer 3.2 million shares.The IPO is to start trading on Wednesday.

For the year ending December 31, BigBand Networks reported net income of $8.9 million on total revenue of $176.6 million, compared with a net loss of $25.5 million on total revenue of $98 million for the same period a year ago.

BigBand Networks

As of December 31, BigBand Networks reported an accumulated deficit of $111.3 million.

BigBand Networks

Formed in 1998, BigBand Networks has about 562 employees.

BigBand Networks

Underwriters: Morgan Stanley and Merrill Lynch are the joint-lead managers. Acting as co-managers are Jefferies, Cowen, and ThinkEquity Partners.

lead managers. Acting as co-managers are Jefferies, Cowen, and ThinkEquity Partners.

Selected Principal Shareholders: Redpoint Ventures, Charles River Partners, Meritech Capital, Evergreen Partners, Pilot House Ventures, Cedar Funds, Time Warner, Star Ventures, and High Street Investors

52-Week Percentage Change:

Dow Jones U.S. Telecommunications Equipment Index: up 0.03 percent

U.S.

Nasdaq Composite Index: up 6.13 percent

—FCStone Group is a West Des Moines, Iowa-based commodity risk management company. FCStone provides risk management consulting and transaction execution services to more than 7,500 commercial commodity intermediaries, end users, and producers.

FCStone Group plans to price 4.64 million shares at $21 to $24 each to raise $104.3 million. The IPO is to start trading on Friday.

For the three months ending November 30, FCStone Group reported net income of $6.3 million on total revenue of $499.7 million, compared with net income of $3.4 million on total revenue of $350 million for the same period a year ago.

FCStone Group

Formed in 1968, FCStone Group has about 437 employees.

FCStone Group

Underwriters: BMOC Capital Markets and Banc of America Securities are the joint-lead managers. Acting as co-managers are William Blair, Raymond James, and Sandler O’Neill.

52-Week Percentage Change:

Dow Jones U.S. Investment Services Index: up 13.8 percent

U.S.

Nasdaq Composite Index: up 6.13 percent

—Photowatt Technologies is an Ontario, Canada-based designer of solar cells and modules that provide clean renewable energy by converting sunlight into electricity through a process known as the photovoltaic effect. The company operates two segments. One is Photowatt International, its core business based on wafer technology. The other is Spheral Solar, a development project based on a spheral technology using thousands of tiny silicon spheres instead of silicon wafers.

Photowatt Technologies plans to price 10.9 million shares at $15 to $17 each to raise $175 million. The IPO is to start trading on Friday, March 16, 2007.

For the nine months ending December 31, Photowatt Technologies reported a net loss of $6.5 million on total revenue of $99.4 million, compared with a net loss of $144,000 on total revenue of $87.2 million for the same period a year ago.

Photowatt Technologies

Formed in 1979, Photowatt Technologies has about 681 employees.

Photowatt Technologies

Underwriters: BMO Capital Markets and UBS Investment Bank are the joint-lead managers. Acting as co-managers are Cowen, GMP Securities, Scotia Capital, and Sprott Securities.

lead managers. Acting as co-managers are Cowen, GMP Securities, Scotia Capital, and Sprott Securities.

52-Week Percentage Change:

Dow Jones U.S. Electric & Components Index: up 4.10 percent

U.S.

Nasdaq Composite Index: up 6.13 percent

—Tongjitang Chinese Medicines is a Shenzhen, China-based specialty pharmaceutical company focusing on developing modernized traditional Chinese medicine. The company believes it is the leading provider of traditional Chinese medicine to treat osteoporosis in China.

Tongjitang Chinese Medicines plans to price 9.87 million shares at $15 to $17 each to raise $157.8 million. The IPO is to start trading on Friday, March 16, 2007.

For the year ending December 31, 2006, Tongjitang Chinese Medicines reported net income of RMB134.3 million ($17.2 million) on net revenue of RMB485 million ($62.1 million), compared with net income of RMB110.8 million ($14.3 million) on net revenue of RMB364 million ($47 million) for the same period a year ago.

Tongjitang Chinese Medicines

Formed in 1995, Tongjitang Chinese Medicines has about 1,654 employees.

Tongjitang Chinese Medicines

Underwriters: Merrill Lynch and UBS Securities are the joint-lead managers. Acting as co-managers are CIBC World Markets.

lead managers. Acting as co-managers are CIBC World Markets.

Selected Principal Shareholders: Hanmax Investment, Samtung Investment, Lodway Investment, Yangtse Holdings, Paraway Investment, and ML Funds

52-Week Percentage Change:

Dow Jones U.S. Pharmaceuticals Index: up 5.72 percent

U.S.Nasdaq Composite Index: up 6.13 percent.