By TX Investment Consulting Co., Ltd.
- May 25, 2009
- Utilities
As oil price raised to above USD60 per barrel this week, renewable energy became focus of the political circle again. Currently, more attentions were paying to grid-connected power generating.
Viewed from current valuation of new energy sector, premium of dynamic P/E ratio of individual shares in 2009 is around 100% against that of CSI 300, .......
By TX Investment Consulting Co., Ltd.
- May 6, 2009
- Utilities
In Q1 2009, number of electric power companies suffered year-on-year decrease in net profit was 17-27 less than that of the previous year, and since Q4 2008, net profit increased by 6.26ppt to 6.51% compared with that of the previous quarter, whereas status in Q1 2009 continued the upturn and turned loss into profit; overall .......
By TX Investment Consulting Co., Ltd.
- Apr 29, 2009
- Huadian Power International Corporation Limited
In Q1 2009, the company reported business turnover of Rmb8474mn (+13.9% yoy), net profit attributable to owners of parent of Rmb191mn (+221.2% yoy), and diluted EPS of Rmb0.032.
We forecast its 2009-2010E EPS to be Rmb0.21 and Rmb0.23, representing dynamic P/E ratio at 23x and 21x based on closing price of April 28, 2009. Its .......
By China Galaxy Securities Co.Ltd.
- Apr 9, 2009
- Guangzhou Hengyun Enterprises Holding Ltd.
2007-2008 is the summit for installation scale growth.
Although the company undertook great operation pressure in recently years, we are still optimistic with its profitability recovery in 2009.
The company is making great efforts to establish long-term and steady partnership with large-scale coal enterprises in 2009 coal purchase.
Influenced by electric power market of Guangdong province, unit utilization .......
By TX Investment Consulting Co., Ltd.
- Mar 31, 2009
- Shandong Hualu-Hengsheng Chemical Co., Ltd.
In 2008, the company reported business turnover of Rmb3440mn (+20.1% yoy), net profit attributable to shareholders of listed company of Rmb380mn (+15.8% yoy), diluted EPS of ~Rmb0.76, and operational cash flow of Rmb1.24 per share. The company’s dividend distribution plan was to send pretax cash of Rmb1 for every ten shares.
In Q4 2008, the .......
By TX Investment Consulting Co., Ltd.
- Aug 21, 2008
- Shenergy Co., Ltd.
In 1H2008, operating income of the company increased by 24.29% yoy; net profit to the parent company decreased 46.86% yoy; diluted EPS: Rmb0.20. During the reporting period, the company’s generating capacity rose 11.3% yoy and the output of oil and gas remained stable and rapid growth. In 1H2008, prices of the company’s standard coal soared .......
By TX Investment Consulting Co., Ltd.
- Aug 13, 2008
The company issued 100mn A shares, with total equity of 510mn shares after the issuance. Of which, 80mn shares priced online will be traded by 13th Aug 2008. The biggest shareholder and actual controller, ShaanXi Provincial Investment Group holds 62.2% of the total.
The company has been engaged in long gas pipeline construction and operation. It .......
By TX Investment Consulting Co., Ltd.
- Jul 28, 2008
- Utilities
Water price hikes will be an enduring process. Given the current situation of the industry, rise in water price in the future will be first and foremost characterized by improvement of prices for both supply water and sewage treatment. As a result, enterprises within the industry will generate more profits.
Among all the subdivisions, scaling up .......
By TX Investment Consulting Co., Ltd.
- Jul 15, 2008
- Guangdong Shaoneng Group Co., Ltd.
Recently, we have conducted a research on Guangdong Shaoneng Group (000601). The company is specialized in the power industry. As of the end of 2007, the holding installation capacity of the company was 764,610 kilowatts, of which hydropower accounted for 52%. In the aspect of distribution area, Guangdong Province accounted to 61% and the rest .......
By TX Investment Consulting Co., Ltd.
- Jul 15, 2008
- Shanghai Shenhua Holdings Co., Ltd.
The Company signed a strategic cooperation agreement with China Wind Power Group to co-develop a 350MW wind power project in the area of Zhangwu, Liaoning Province. If this project is successfully completed, the income of wind power will account for about 9.6% of the company’s total operating revenue and the proportion is showing a rising .......