Datang Power ++


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5570 Postings, 6677 Tage skunk.worksDatang Power ++

 
  
    #1
1
27.11.07 06:32
Daiwa Ups Datang Power To Outperform,Eyes HK$8.33

Datang Power's (0991.HK) H shares upgraded to Outperform from Underperform by Daiwa Institute of Research, target raised to HK$8.33 from HK$7.42. House says company is "one of the best-managed independent power producers in China;" now is good entry point after stock has fallen 34% from intraday record HK$10.17 on Oct. 18. Despite all these, house at same time cuts company's 2007-09 net profit estimate 2-5% on higher coal costs, interest rates; tips 2007 net profit at CNY3.68 billion (vs CNY2.78 billion in 2006). Stock down 3.1% at HK$6.70.

991 HK - 3,179 = 6,7h$  

5570 Postings, 6677 Tage skunk.worksUBS Likes Datang Power

 
  
    #2
29.11.07 07:33
UBS Likes Datang Power, China Resources Power

UBS likes Datang Power (0991.HK), China Resources Power (0836.HK) on high margins, returns.

"(They) are less sensitive to adverse impact from coal cost increase or disappointment in tariff."

House says will be difficult for power producers to raise tariff again in China due to inflation concerns, but high coal cost remains biggest challenge; tips China coal prices up 10% next year, up 8% in 2009.

Keeps Buy calls on both stocks, doesn't state target prices. Datang Power +2.6% at HK$7.01, CR Power +0.4% at HK$24.65.  

5570 Postings, 6677 Tage skunk.worksDatang ++

 
  
    #3
11.12.07 06:43
Datang Power (991, $7.23) 12M Target $8.0 Trading BUY

On November 9, the state Grid Corporation of China released new forecasts about the power market for the next three years. Basically, it revised upwards the capacity and generation growth expectation. Driven by strong demand and lower supply, we believe utilisation rate for IPPS of China will improve in 2008-2009.

For the first three quarters, earnings of Datang Power based on PRC accounting standard amounted to RMB2,702mn (EPS was RMB0.23) that was below our expectation. The increase in production output as a result of capacity expansion failed to offset the effect of rising coal price. Duo to higher unit fuel cost, gross margin declined from 28.9% in 1Q to 27.4% in 2Q and 25.8% in 3Q. We believe Datang is difficult to cut cost in 4Q because coal price is traditionally higher in 4Q.

However, we expect the company’s utilization rate to improve and tariffs to rise in 2008.

In order to minimize the effect of high fuel cost, Datang aims to raise coal self-sufficiency and generation capacity. Management expressed that self-coal mines will account for 50% of its coal consumption and capacity will amount to 40mn KWH in 2010.

Datang's coal-to-chemical project is on track and will become operational in 2H09.

Traded at 18x 2008 PER, Datang’s valuation is attractive in our view. We maintain BUY rating with target price of $8.0, representing 20x 2008 earnings.  
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5570 Postings, 6677 Tage skunk.worksDatang 5,74h$ = +2,1%

 
  
    #4
18.01.08 06:31


Datang Power (991, $5.62) 12M Target $8.0 Trading BUY

On November 9 2007, the state Grid Corporation of China released new forecasts about the power market for the next three years. Basically, it revised upwards the capacity and generation growth expectation. Driven by strong demand and lower supply, we believe utilisation rate for IPPS of China will improve in 2008-2009.

The increase in production output as a result of capacity expansion failed to offset the effect of rising coal price in 2008. However, we expect the company’s utilization rate to improve and tariffs to rise in 2008.

In order to minimize the effect of high fuel cost, Datang aims to raise coal self-sufficiency and generation capacity. Management expressed that self-coal mines will account for 50% of its coal consumption and capacity will amount to 40mn KWH in 2010.

Datang's coal-to-chemical project is on track and will become operational in 2H09.

The stock price of Datang has tumbled about 10% because the PRC government regulated that there will be no tariff increase in the short term aiming to curb inflation. We consider the correction of the power stocks is short-lived and provides a good buying opportunity for long-term investors.

Traded at 14x 2008 PER, Datang’s valuation is attractive in our view. We maintain BUY rating with target price of $8.0, representing 20x 2008 earnings.  

5570 Postings, 6677 Tage skunk.worksDatang ++

 
  
    #5
26.03.08 17:27
Datang Power 2007 Revenue CNY32.83 Bln Vs CNY24.90 Bln  

5570 Postings, 6677 Tage skunk.worksDatang Flat Befores Results;'07 Pft Seen +27.5%

 
  
    #6
26.03.08 18:00
Datang Flat Befores Results;'07 Pft Seen +27.5%  

5570 Postings, 6677 Tage skunk.worksinfo

 
  
    #7
26.03.08 18:08
China starts building Fujian nuclear power plant - state TV

China started building today a nuclear power plant in Fujian province in the southeast of the country, the official China Central Television reported.

Phase I of the Ningde plant, the first nuclear plant in the province, will have four reactors with 1 gigawatt (GW) of generating capacity each. The project will involve investment of 51.2 bln yuan, it said.

Subsequent phases will cost around 450 bln yuan.

Investors in the plant include Guangdong Nuclear Power Investment Co, Datang International Power Generation Co Ltd (HK 0991; SHA 601991) and Fujian Coal Group, it said.

The first reactor is expected to enter operation in 2012 and the remainder will enter service in each of the following three years.

Annual on-grid electricity is expected to reach 30 bln kWh, it noted.

The plant, 143 kilometers south of Fuzhou, capital of Fujian, will be China's first nuclear plant situated on an island  

5570 Postings, 6677 Tage skunk.worksChart

 
  
    #8
26.03.08 18:16
 
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5570 Postings, 6677 Tage skunk.worksDatang ++

 
  
    #9
27.03.08 07:53
Datang Power +4.3%;Eyes 100% Coal Self-Sufficiency

Datang Power (0991.HK) +4.3% at HK$3.90, the best among Chinese power firms; Huaneng (0902.HK) +0.5% at HK$5.55, Huadian (1071.HK) down 2.1% at HK$1.88, China Resources Power (0836.HK) +0.4% at HK$14.02, China Power (2380.HK) down 0.8% at HK$2.42.

Datang is the only power firm among group that targets 100% coal self-sufficiency by 2012; has invested in 4 coal mines and plans to invest in 3 more - all mines are close to major service area of Beijing-Tianjin-Tangshan region.

Company expects 2008 unit fuel cost +12% (vs +13% in 2007), as own mines will start producing 10 million tons of coal this year. Company also plans to invest more in railways, coal-carrying vessels to smoothen coal transportation to power plants.  

5570 Postings, 6677 Tage skunk.worksDatang +2,95%

 
  
    #10
27.03.08 07:54
 
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5570 Postings, 6677 Tage skunk.worksDatang

 
  
    #11
25.04.08 07:08
Datang Power (991, $5.46) 12M Target $5.2 HOLD
Datang Power announced that total power generation increased 6.45% yoy in 1Q08.

For the first quarter of 2008, Datang’s total power generation amounted to 29.3bn kWh, representing an increase of 6.45% yoy. The increase was mainly due to an extra output from the newly operated generating units at Xinyu Plant, Yuncheng Power Plant and Lixianjiang Hydro Power Plant.

Datang’s unit fuel cost increased 12% in 2007 to RMB137 per MWH. We believe the situation of high unit fuel cost will continue in 2008 since the company has secured only 67% of its total coal consumption by contracts. We forecast unit fuel cost to rise 15% yoy in 2008.

Capacity expansion in 2008 will focus on building more hydro plants which are immune to rising coal prices.

Datang has invested in coal mining, coal chemical projects and railway construction. Most projects will become operational in 2009 meaning that Datang’s earnings outlook will improve in 2009 and thereafter.

We maintain our 2008 EPS estimate at RMB0.29. The counter is trading at 17x 2008 PE that we think is fair.

Given a recent surge in share price, we have downgraded Datang from buy to HOLD. 12-month target price was is unchanged at $5.2 based on 16x 2008 earnings.  

5570 Postings, 6677 Tage skunk.worksDatang Profit - 49.6% 438M yuan

 
  
    #12
29.04.08 15:24

5570 Postings, 6677 Tage skunk.worksDatang Power 3.830 +0.560 +17%

 
  
    #13
14.10.08 06:55
Korrektur seit Berühren von 5$ beendet
Fall bis 3$ beendet
stochastic oscillator zeigt schon vor dem Rettungsplan auf kaufen
technischer rebound ist erfolgt
wird bis über 4$ durchmarschieren wenn der gleitende Dschnitt 10T von 3,8 durchbrochen wird.......


 

5570 Postings, 6677 Tage skunk.worksDP 3,98h$ = +8,7%

 
  
    #14
17.10.08 08:11
991 DATANG POWER 3.98 0.32 8.74 145,186 36,856  

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