GS 高盛-中国每日报告 08.17

China-Daily-Insights 08.17 13页

Today’s focus
Asia Economics Data Flash: China data: Reported FAI growth softened visibly in July
China BlueChemical (3983.HK) Buy: China urea blue-chip; expansion, injection, deregulation; initiate Buy
Shimao Property (0813.HK): First-take: Results boosted by volume expansion and one-off gain
China Mobile (HK) (0941.HK): First Take: Robust MOUs and margin recovery bode well for 2H07
Weifu Hi-technology (000581.SZ): Disappointing 1H07 earnings; Earnings forecast revised down
ZTE Corporation (H) (0763.HK): First Take: Strong revenue growth offset by surging expenses
Ping An Insurance Group (H) (2318.HK): 1H2007: Robust investment income, EV and NBV growth
Kweichow Moutai (600519.SS): 1H07 earnings up 48% yoy; strong growth continuing; reiterate Buy
Bank of Communications (H) (3328.HK): Solid 1H07 results; hold as a GARP/defensive play
China Southern Airlines (H) (1055.HK): The restructuring catalyst has just begun; upgrade to Neutral
Headline news
Overseas banks' earnings rise (China Daily)
China mulls new curbs on coke export (China Daily)
China to suspend applications for new airlines (Xinhua)
China may let individuals invest directly abroad, Official says (Bloomberg)
Asia Economics Data Flash: China data: Reported FAI growth softened visibly in July, Hong Liang
• Reported fixed asset investment (FAI) growth softened visibly in July. FAI growth softened to 26.2% year on year (yoy) in July, down from 28.5% yoy in June. On a quarter-on-quarter (qoq); seasonally