Shanghai Electric Group 2727

Shanghai Electric Group 2727

Postby winston » Sat Aug 23, 2008 7:42 am

Not vested.

Shanghai Electric profit down

Shanghai Electric Group, (2727), the mainland's largest maker of equipment for coal-fired power plants, said its net profit for the first half was 1.547 billion yuan (HK$1.766 billion), down 13.8 percent from a year ago, on higher administrative and other expenses.

Revenue for the same period reached 28.9 billion yuan, slightly higher than last year, no interim dividend was declared.

The company said it has secured major contracts domestically and overseas worth up to 50.17 billion yuan. It also signed contracts for the supply of 179 metropolitan rail cars.

Source: AAStocks.com
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Re: Shanghai Electric Group 2727

Postby winston » Tue Jan 13, 2009 11:57 am

BROKER CALL - HK-listed Shanghai Electric rating cut to 'underweight' - MS

HONG KONG (XFN-ASIA) - Morgan Stanley said it has downgraded Shanghai Electric to "underweight" from "overweight" and cut its target price to 2.00 hkd from 2.29 following the company's unexpected profit warning. The brokerage said the downgrade reflects the unexpected profit warning and a 52 pct increase in the share price over the past year or so.

"We expect more negative news flow for the whole power equipment sector, more order delivery delays, a year-on-year decline in 2008 earnings, and year-on-year decline in new order inflow," it noted. It cut EPS forecasts to 0.20 yuan or 0.22 for 2008, to 0.18 yuan from 0.22 for 2009 and to 0.21 yuan from 0.27 for 2010.

Shanghai Electric said last week its 2008 net profit would be 10-13 pct lower than the original forecast of 2.90 bln yuan, as clients have deferred deliveries since mid-December.
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Re: Shanghai Electric Group 2727

Postby winston » Mon Dec 07, 2015 10:26 am

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Shanghai Electric Jumps On Parent Bailout

By Shuli Ren

Shanghai Electric (2727.Hong Kong) entered an asset swap deal with its state-owned parent, trading its loss-making Shanghai Heavy Machinery Plant for four of its parents’ subsidiary and some land.

Shanghai Electric will fund its purchases from the parent by issuing new shares.

Specifically, Shanghai Electric will sell Shanghai Heavy Machinery Plant at a symbolic price of 1 yuan. It will receive the four subsidiaries at 3.5 billion yuan and its parents’ properties rights at 2.9 billion yuan.

The 6.3 billion yuan acquisition will be mostly funded by share issuance at 10.41 yuan apiece. Shanghai Electric closed at 5.48 Hong Kong dollars last week.

This is a great deal for Shanghai Electric.

First of all, by removing the loss-making Shanghai Heavy Machinery Plant, Shanghai Electric’s earnings could by improved by 30%, or 570 million yuan, estimates Deutsche Bank.

Second, Shanghai Electric is issuing new shares at the A-share valuation, more than doubling its H-share price. “A higher-priced A share issuance will benefit H shareholders with BVPS enhanced by 16%,” estimates Deutsche analyst Michael Tong.

This deal “demonstrates strong parentco supports,” wrote Deutsche. Shares of Shanghai Electric jumped 7.9% at the open this morning.

Source: Barron's Asia
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Re: Shanghai Electric Group 2727

Postby winston » Mon Dec 07, 2015 3:39 pm

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<Research Report>Citigroup: Raises EPS Forecast for SH ELECTRIC by 5-10% on Assets Restructuring with Parentco

Citigroup, in its report, uplifted its EPS forecast of SH ELECTRIC (02727.HK) for next year and the year after next by 5%-10% as the group had disposed loss-making Shanghai Heavy Machinery Plant, assuming the assets restructuring with its holding company would be completed by 1 July 2016.

However, as the assets swapped from the holding company was still related to Shanghai Heavy Machinery Plant, the research house expected there was still a downside pressure on the group for next year and the year after next .

Citigroup maintained the company's rating at Sell with a target price of $3.8 on the ground that coal machinery business, which was the principal business of the company, was still struggling with excessive productivity in the mainland.

Source: AAStocks Financial News
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