China Longyuan Power 0916

Re: China Longyuan Power 0916

Postby winston » Thu Feb 17, 2011 5:06 pm

vested

Credit Suisse initiated coverage of Longyuan (00916) with an "outperform" rating, and a target price of HK$8.78.

The research house expects Longyuan, the largest wind operator, to see a 24% capacity CAGR (2010-12), driving a 33% earnings growth, with strong resource pipeline and balance sheet.

Credit Suisse expects some earnings risk for its coal power (5-7% of earnings) exposure in 2011, but it also sees contribution falling to about 3% by 2012, as wind capacity takes over (growing about 2 GW p.a.). (KL)

http://content.etnet.com.hk/content/uob ... E210217164
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Re: China Longyuan Power 0916

Postby winston » Fri Feb 18, 2011 7:39 am

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Thursday Short-Selling at 2.6m shares ( out of 8.3m shares ): 31%

Am I missing something here too ? Why is short-selling heavy despite glowing reports from Citi & CS ? Are the shorts caught at lower prices and are trying to get out ?
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Re: China Longyuan Power 0916

Postby Atlas » Fri Feb 18, 2011 12:07 pm

I just posted this in the China High Speed Transmission thread:

MARKET TALK: Concerns On China Wind Farm Operators Overdone -JPM (Dow Jones News)
Date: 2011/02/18 11:48


0348 GMT [Dow Jones] JPMorgan says the market's concerns over China wind farm operators are overdone as falling turbine prices will lower investment costs in wind farms and increase project returns.

"We expect weak market sentiment on the sector in the short-term due to macro concerns on interest rate hikes, but think further downside for wind farm operators is limited."

The house notes the sector's stocks have been relatively weak over the past three to six months on concerns about grid connection problems, the government's tightening measures, falling wind turbine prices (down 5% in the past one to two months), and slightly lower-than-expected new wind capacity additions in
China.


The house prefers wind farm operators such as China Longyuan (0916.HK) and China Datang Corporation (1798.HK) over equipment suppliers such as China High Speed Transmission (0658.HK) and Xinjiang Goldwind (2208.HK) in the near-term. Longyuan is +2.3% at HK$7.17, while Goldwind is down 0.7% at
HK$13.26.

Source: Dow Jones Newswire
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Re: China Longyuan Power 0916

Postby winston » Mon Feb 21, 2011 2:45 pm

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Monday Morning Short-Selling at 904,000 shares ( out of 2.98m ): 30%
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Re: China Longyuan Power 0916

Postby winston » Tue Mar 08, 2011 9:57 am

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The board of directors (the “Board”) of China Longyuan Power Group Corporation Limited* (the “Company”) announces that, according to the Company’s preliminary statistics, the power generation of the Company and its subsidiaries (the “Group”) for February 2011 on consolidated basis amounted to 1,746,339MWh, representing an increase of 18.79% compared with the corresponding period of 2010.

In particular, the increase in wind power generation and other renewable energy power generation registered 43.83% and 37.54% respectively, whereas coal power generation registered a decrease of 5.62%.

As at 28 February 2011, the total power generation of the Group for 2011 amounted to 4,119,758MWh, representing an increase of 18.90% compared with the corresponding period of 2010.

In particular, the increase in wind power generation and other renewable energy power generation registered 42.97% and 90.30% respectively, whereas coal power generation registered a decrease of 1.96%.

http://www.hkexnews.hk/listedco/listcon ... 307519.pdf
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Re: China Longyuan Power 0916

Postby winston » Wed Mar 09, 2011 10:58 am

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DJ China Guodian, China Development Bank Ink 5-Year Strategic Deal -Sasac

SHANGHAI (Dow Jones)--China Guodian Corp., one of the nation's five main power generators, recently signed a strategic cooperation agreement with China Development Bank covering the next five years, the State-Owned Assets Supervision and Administration Commission said Thursday.

China Development Bank, which typically provides funds for nationwide infrastructure projects, will provide long-term, stable financial support to Guodian's key investment projects, including renewable energy--including hydropower--and thermal power generators as well as overseas expansion, Sasac said on its website.

Tightening monetary policy and higher interest rates in China have led to market concern that the nation's power utilities may not have access to sufficient investment funds--particularly as they are battling high coal costs and a freeze on electricity prices.

Guodian Corp. is the parent company of Hong Kong-listed China Longyuan Power Group Corp. (0916.HK) the nation's largest producer of electricity generated by wind power.

Source: Jing Yang; Dow Jones Newswires;
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Re: China Longyuan Power 0916

Postby winston » Wed Mar 16, 2011 12:05 pm

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DJ MARKET TALK: Longyuan +1.8%; FY Results Above View

1101 [Dow Jones] China Longyuan (0916.HK) is +1.8% at HK$7.42, outperforming the broader market (the HSI is +0.01%), on stronger-than-expected FY results.

Its 2011 net profit rose 126% on-year to CNY2.02 billion, which is 7% above Goldman Sachs' forecast.

Its revenue rose 46% to CNY14.2 billion, which is also 7% above the house's estimate mainly on larger-than-expected service concession construction revenue which was offset by higher concession construction costs.

"The larger-than-expected depreciation was more than offset by higher associate income and disposal gain from the lPO of its associate Yantai Longyuan Power (300105.SZ) in August 2010." It keeps the stock at Buy with a target of HK$9.60.

Source: Dow Jones Newswire
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Re: China Longyuan Power 0916

Postby winston » Wed Mar 16, 2011 12:14 pm

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Since China government continues its support at wind power development, together with the decline of wind power equipment cost which favor the operators, we expect Longyuan FY11 net profit to increase 28% yoy.

Besides, the nuclear event in Japan might further speed up wind power development in the medium term while it might improve its valuation.

We suggest to buy during weakness with target price of HK$8.00.


Source: KGI
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Re: China Longyuan Power 0916

Postby winston » Thu Mar 17, 2011 7:14 am

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Answer to Japan nuclear woes blowing in the wind
Thursday, March 17, 2011


Solar energy shares performed well even before Japan's nuclear woes came to light, but wind is also a favorable option.

I have had China Longyuan Power Group (0916) in my portfolio since its listing in December 2009. The share went from the initial public offer of HK$8.16 to a high of HK$11.18 in January 2010 before hitting HK$6.63 that May.

After fluctuating between HK$6.63 and HK$8.50, it rose to HK$7.56 yesterday as annual net profit rose 120 percent to two billion yuan (HK$2.37 billion).

Revenue from wind power grew 67 percent to 4.62 billion yuan, superseding that from coal and accounting for 54 percent of revenue.

A total of 55 clean development mechanism projects have been registered with the CDM Executive Board. These include 54 wind power projects with a total installed capacity of 2,830 megawatts.

You may consider accumulatating this share on any dip near HK$7.20.

http://thestandard.com.hk/news_detail.a ... 10317&fc=7
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Re: China Longyuan Power 0916

Postby winston » Wed Apr 06, 2011 1:31 pm

Not vested anymore

Wednesday morning short-selling at 4.2m shares ( out of 12.7m shares ): 33%
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