China High Speed Transmission 0658

[winston]

vested

NOTICE OF BOARD MEETING

The board of directors (the “Board”) of China High Speed Transmission Equipment Group Co., Ltd. (the “Company”) announces that a meeting of the Board will be held at Room 1302, 13th Floor, Top Glory Tower, 262 Gloucester Road, Causeway Bay, Hong Kong on Wednesday, 31 August 2011 at 11:00 a.m. for the following purposes:

1. To consider and approve the unaudited interim results of the Company and its subsidiaries (the “Group”) for the six months ended 30 June 2011;

2. To consider and approve the draft announcement for the unaudited interim results of the Group for the six months ended 30 June 2011 to be published in accordance with the Rules Governing the Listing of Securities on The Stock
Exchange of Hong Kong Limited;

3. To discuss the payment of interim dividend for the six months ended 30 June 2011, if any;

[winston]

Vested. I dont understand their Convertible Bonds and Equity Swaps....

Revenue for the first half of 2011 was approximately RMB3,182,714,000, representing
a slight increase of approximately 2.8% over the corresponding period of 2010.

Reported profit attributable to the owners of the Company for the first half of 2011 was
RMB286,516,000 (30 June 2010: RMB563,491,000), representing a decrease of approximately 49.2% over the corresponding period of 2010.

If the effect of the fair value change of convertible bonds and equity swap had been excluded, the adjusted profit attributable to the owners of the Company for the first half of 2011 would have been approximately RMB374,750,000, representing a decrease of approximately 27.5% over the corresponding period of 2010.

Basic and diluted earnings per share were RMB0.21 and RMB0.21 respectively. EPS -43%

The Board did not recommend payment of an interim dividend for the six months ended 30 June 2011.

Cash RMB 1.7b; HK$1.36b / share ?

Gross Profit Margin: 27%

Sales revenue of wind gear transmission equipment business decreased by approximately 0.5% as compared with the corresponding period of last year to approximately RMB2,185,363,000 (30 June 2010: RMB2,196,070,000).

The decrease was attributable to
(1) the decrease in average selling price of wind power gearbox products; and
(2) the temporary postponement of the delivery of wind gearbox products requested by certain customers as a result of a significant reduction in the quantity of power generated by the wind turbine generators being connected to power grids from late May to the end of June 2011.

Currently, the customers of the wind gear transmission equipment of the Group are the major local and overseas renowned integrated wind power equipment manufacturers such as GE Energy, Vestas, REPower, Nordex, Fuji Heavy and etc.

http://www.hkexnews.hk/listedco/listcon ... 831701.pdf

[winston]

Vested

Up 7% now so the results were better than expected ?

Short-covering ?

Big elephant selling 221,000 shares at 4.92 thru Guo Yuan.

[winston]

Vested

Low: 3.80 about 2.5 weeks ago
Today: 5.25
% Change: 38%

MARKET TALK: CHSTE Rises Further; Management Bullish

MARKET TALK: CHSTE Up 7%; Negatives Already Priced In-DB - Sept 1

[winston]

Vested

Fortune Apex bought 500,000 shares and increase their stake from 15.52% to 15.55%

viewtopic.php?f=60&t=1245&p=127904#p127904

[kennynah]

Vested

Fortune Apex bought 500,000 shares and increase their stake from 15.52% to 15.55%

http://investideas.net/forum/viewtopic. ... 04#p127904

wah....ho say liao...

you can change your nick from "millionaire boss" to "billionaire boss"

[winston]

vested

DJ MARKET TALK: Citigroup Cuts CHST Target To HK$3.60 From HK$5.50
October 6, 2011

1211 [Dow Jones] STOCK CALL: Citigroup cuts China High Speed Transmission Equipment (0658.HK) target to HK$3.60 from HK$5.50, equating to 6X 2011E earnings, to factor in weak 2H11 wind equipment demand and intensifying competition among its customer base amid overcapacity.

After disappointing 1H11 earnings of CNY287 million, or 23% of FY11 consensus estimates, the house now forecasts FY11 wind gearbox shipments of 8.3GW, below CHSTE's 12GW orderbook, on potential shipment delays;
it says it is concerned the full impact may last into 2012.

"While CHSTE saw better GE orders, they may not be sufficient to offset the demand decline from domestic turbine makers."

It cuts FY11-13 EPS forecasts by 3.0%-3.7%, with the new FY11-12 forecasts now 28% and 38% below consensus. It keeps a Hold call, but shifts to a Medium Risk rating from Low Risk.

Source: Dow Jones Newswire

[winston]

vested

DJ MARKET TALK: Daiwa Lowers China High Speed Target To HK$4.60Sep 22, 2011

1116 [Dow Jones] STOCK CALL: Daiwa cuts China High Speed Transmission's (0658.HK) target to HK$4.60 from HK$12.00, after lowering its 2011-2012 EPS forecasts substantially on poor 1H11 results.

It notes, CHST's key product, wind gearboxes (69% of 1H11 total sales), saw a gross-margin contraction from 31% for 1H10 to 27% for 1H11, driven mostly by a 14% on-year cut in average selling prices.

While management does not see further pricing pressure, Daiwa finds this overly optimistic as it contradicts turbine makers', such as Xinjiang Goldwind (2208.HK), margin-recovery strategies over the next 12 months.

"We are also concerned about the company's future strategy, especially with management's plan to deemphasise wind and spend most of its resources on new product development."

It keeps the stock at Hold.


Source: Dow Jones Newswire

[winston]

TOL:-

Vested

trying to connect the dots ...

1. China’s largest gear box manufacturer for wind turbines

2. Currently, the customers are the major local and overseas renowned integrated wind power equipment manufacturers such as GE Energy, Vestas, REPower, Nordex, Fuji Heavy etc.

3. Daiwa: "We are also concerned about the company's future strategy, especially with management's plan to deemphasise wind and spend most of its resources on new product development."

Are they preparing themselves to be taken over by GE ?

[winston]

Vested

Up 15%.

Somebody is supporting the price thru Fullbright