China High Speed Transmission 0658

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vested

C TRANSMISSION (00658.HK) hopes exports in next 3 yrs to double
August 27, 2012

C TRANSMISSION (00658.HK)'s chairman Hu Yueming said the group will consider Europe and Brazil, as its major export markets in the second half of the year, adding it targets to double its exports in three years' time.

Hu projects China's wind power industry will only be fully recovered in the second half of 2014.

Source: AAStocks Financial News

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vested

Streak of earnings decline continues; Lowering Estimates

CHST reported 1H12 net profit Rmb96 mn, down Rmb190 mn or 66% YoY (74% if excluding one-time loss from 1H11 results). The sharp earnings deterioration was driven by a substantial increase in financing expense (Rmb139 mn higher) and SG&A expense (84 mn higher), although the company's top line still saw 3.5% growth YoY and gross margin was mostly flat vs 1H11 (26.0% vs 26.4%).

As of 30 June 2012, CHST's debt was Rmb9.1 bn (Rmb6.8 bn in net debt), resulting in debt to EBITDA of over 7x and net debt/equity of 89%. Its short-term debt now accounts for 80% of total debt, up substantially from 65.5% in 1H11, which could lead to refinancing risk, in our view.

CHST achieved strong results in the overseas market in 1H12. Export accounted for 27.9% vs 15.2% in 1H11, also adding Alstom and Suzlon in its list of overseas customers.

We revise down our 2012/13 earnings slightly to reflect the higher-than-expected expenses. We believe China's wind market will continue to be plagued by grid connection issues. Maintain UNDERPERFORM.

Source: Credit Suisse

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Vested

Capital Group bought 1.8m shares, increasing their stake to 9.03% from 8.9%

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Big Elephant buying 500,000 shares thru Valuable at 4.17

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not vested

This counter was down 4.5% today for no reason. And then the following announcement came out after market close....

Profit Warning

The board of directors (the “Board”) of the Company wishes to inform the shareholders of the Company and potential investors that, based on the Company’s preliminary review of the consolidated management accounts of the Group for the year ended 31 December 2012, which have not yet been reviewed nor audited by the Company’s auditors, the profit of the Group is expected to record a significant decrease as compared to that for the previous year.

Such significant decrease in profit is mainly attributable to increase in selling, administrative and finance costs.

http://www.hkexnews.hk/listedco/listcon ... 114175.pdf

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*C TRANSMISSION (00658.HK) rated Sell with target lifted to $2.45 by Citi

Source: AAStocks Financial News

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not vested

<Research Report>C TRANSMISSION (00658.HK) rated Sell by Citi

C TRANSMISSION (00658.HK) issued a profit warning, expecting to post a substantial decline in the net profit of 2012, as compared with the profit for 2011, said Citigroup, who rated the stock Sell and lifted the target price to $2.45 from $2.

Citigroup expects C TRANSMISSION's 2012 profit may have dropped 47% year-on-year, with financing costs probably surging 72% year-on-year to RMB556 million.


Source: AAStocks Financial News

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not vested

C TRANSMISSION (00658.HK) downgraded to UW by Nomura

C TRANSMISSION (00658.HK) has advanced 43% since mid-December 2012, but Nomura believed it more than priced in possible sales improvement for 2013, after the National Energy Administration has set goal to install 18GW of wind capacity.

C TRANSMISSION is downgraded from Neutral to Underweight with target price hiked from $2.1 to $2.4.

Source: AAStocks Financial News

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not vested

C TRANSMISSION (00658.HK) rated Sell, TP raised to $2.45 by Citi

C TRANSMISSION (00658.HK)'s wind power gear business would only see limited improvement in profit, Citi Research said in a report, after the company had earlier issued profit warning.

The broker, however, believes the company would receive more orders from China in 2013, keeping a Sell rating on C TRANSMISSION with target price hiked from $2 to $2.45.

Source: AAStocks Financial News

[winston]

not vested

This counter jumped from around 2.65 in mid-Dec to about 4.46 in less than a month and just before the Profit Warning.

It then started plunging and is now about 3.56, down around 6% today. Already dropped 20% from the top...

Classic "pump & dump"? When something is too good to be true, it normally is....