China Longyuan Power 0916

[Atlas]

All new energy stocks drop today since it seems that they filled that leak in Fukushima.

[winston]

Not vested

Dropped like a rock. The sellers seems to be trading thru GS, Merrill Lynch & CS. Dont know whether it's stop-loss selling or shorting. I think it's the latter.

Buying is thru Instinet and CS. I think Instinet is one of the Dark Pools so someone may be covering their shorts. Someone is also buying thru CS, so it could also be short-covering as well.

[winston]

Vested

DJ MARKET TALK: Daiwa Keeps China Longyuan At Buy
April 6, 2011

0759 [Dow Jones] STOCK CALL: Daiwa keeps China Longyuan (0916.HK) at Buy due to its improving earnings visibility, but notes that it is partially reflected in the company's year-to-date share-price outperformance of 12% relative to the H-share Index.

It notes for the year to April 4, Longyuan has connected 364MW windpower capacity. "This implies a big improvement over the same period in 2010, as Longyuan only managed to connect 50MW in 1H10, which the market saw as a disappointment at that time."

It keeps its target at HK$10.00. The stock ended down 0.2% at HK$8.45 Monday.


Source: Dow Jones Newswire

[winston]

Vested

Up 2.5% and the Sellers thru Merrill Lynch, GS and CS have disappeared.

If they were willing to sell at lower prices, why not sell at higher prices now ?

And it's interesting to see somebody trading thru UBS, both on the Buy and Sell side.

[Atlas]

[I-bank focus] Goldman downgrades Goldwind (02208) to "sell" (ETNet News)
Date: 2011/04/20 14:35

Goldman Sachs downgraded Xinjiang Goldwind Science & Technology (02208) to "sell" from "neutral" noting that consensus earnings estimates have not fully factored in Goldwind's concentrated risks in lower volume sales and margins.

The house maintained its target price for Goldwind at HK$12.

Goldman also lowered its target prices for China High Speed Transmission (00658) and China Longyuan Power (00916) to HK$11 (from HK$12) and HK$8.8 (from HK$9.6), and retained its "neutral" and "buy" calls respectively.

The house believes wind power will remain an important supplement to meet China's growing clean energy needs and its goal of 15% non-fossil energy by 2020.

It maintained its 2020 capacity target of 200GW but lowered 2015 target to 110GW (from 120GW) expecting a more gradual improvement in the power grid connectivity of wind turbines given that the central government is consolidating project approvals from local governments.

Goldman sees growing bargaining power of wind farms over equipment makers as turbine demand slows and value chain de-stocking ensues.
Meanwhile, intense price competition and excess production capacity continue to drive down wind turbine and component prices.

Goldman thinks equipment makers may find it more difficult to mitigate falling turbine prices by simply increasing volumes (economies of
scale) as demand slows. [/b]

[winston]

Not vested

DJ China Longyuan: April Power Output Up 17.2% On Year At 2.28 Mln MWh

HONG KONG (Dow Jones)--Wind energy company China Longyuan Power Group Corp. (0916.HK) said Friday its April output rose 17.2% from a year ago to 2.28 million megawatt hours.

Wind power output rose 41.6% to 1.27 million MWh and other renewable energy generation surged to 15,399 MWh in April.

The company said coal power generation fell 4.59% to 1.0 million MWh.


Source: Dow Jones Newswires

[Atlas]

Not vested

MARKET TALK: Longyuan To Be Boosted By Asset Injection - Citi (Dow Jones News)
Date: 2011/05/12 13:47

[Atlas]

Not vested

MARKET TALK: UBS Tips Datang Renewable Over China Longyuan (Dow Jones News)

Date: 2011/05/12 15:53


[Dow Jones] STOCK CALL: UBS says China Longyuan (0916.HK) is still a market leader, but it tips China Datang Corporation Renewable Power (1798.HK) as more attractive in terms of valuation.

The house estimates Longyuan is trading at 18.6X 2011 P/E, higher than Datang's 13.2X. UBS notes Longyuan's 1Q11 net profit rose 61% on-year at CNY635 million, mainly driven by a 41% on-year rise in wind power generation; the 1Q11 bottom-line accounts for 24% of the house's FY11 forecast, while its 1Q10 results were only 20% of FY10's.

"Operating profits were largely on track while finance expenses were lower than we expected." It keeps Longyuan at Neutral with a target of HK$9.00.

Longyuan is up 0.1% at HK$8.16.

Source: Dow Jones Newswire

[winston]

Not vested

DJ MARKET TALK: CS Raises Longyuan, Datang Renewable Targets

1028 [Dow Jones] STOCK CALL: Credit Suisse raises Longyuan Power (0916.HK) target price to HK$9.57 from HK$8.08, and that of Datang Renewable Power (1798.HK) to HK$2.89 from HK$2.28; it keeps both stocks at Outperform.

1) CS believes the upwards revisions of coal-fired tariffs in the near and medium term reduce the risk of a wind tariff cut;
2) Second, NDRC's willingness to raise the renewable surcharge reflects its support for the sector;
3) Third, moves by provinces (Inner Mongolia) to consolidate the number of wind developers underpins the SOE's future capacity growth, and allows for the better co-ordination of grid-wind farm expansion;
4) Fourth, SOE's access to capital is a strong advantage in a tightening credit environment.

Longyuan is down 1.6% at HK$7.99 and Datang Renewable is 1.3% lower at HK$2.26.

Source: Dow Jones Newswire

[winston]

Not vested

DJ China Longyuan Power To Invest In Wind Power Project In Canada

SHANGHAI (Dow Jones)--China Longyuan Power Group Corp. (0916.HK), the country's largest producer of wind-generated electricity, will invest and operate a wind power project near Canada's Toronto city, the company's president said Thursday.

In addition to the 100-megawatt project in Canada, Longyuan is also in discussions to invest in a wind farm in South Africa and an agreement is expected this year, Xie Changjun said on the sidelines of an industry conference.

The company aims to secure 200-300 megawatts of overseas wind projects this year to leverage on favorable power tariffs and government subsidies, he said.


Source: Dow Jones Newswires