GS 高盛：每日中国报告  10.26

China-Daily-Insights   10.26       18页

 

Today’s focus
China Views: Real GDP growth came in at 11.5% for 3Q2007 and CPI inflation at 6.2% for September
Shimao Property (0813.HK): One-off NAV dilutive, but potentially positive in longer-run
Yanlord Land (YNLG.SI): New acquisition in its home market
Shanda Interactive Ent (SNDA): Very modest dilution if stock price jumps pre-Nov 15; more IPOs
Focus Media (FMCN): Placement offers opportunity in attractively valued growth stock
Sohu.com (SOHU): 3Q07 preview: we expect strong advertising and game revenue
China Merchants Holdings (0144.HK): Shanghai port tariff increase; raising estimates
Beijing Enterprises Holdings (0392.HK): Downgrade to Neutral on valuation
Weifu Hi-technology (000581.SZ): Disappointing 3Q2007 results; maintain Sell rating
Yanjing Brewery (000729.SZ): 3Q07: top-line growth accelerated; gross margin under pressure
ZTE Corporation (H) (0763.HK): Higher-than-expected revenue, but muted EPS growth
Industrial and Commercial Bank of China (H) (1398.HK): 3Q07 results beat estimates; estimates/target price raised
Industrial and Commercial Bank of China (H) (1398.HK): Acquiring 20% SBG strategically/financially positive if executed well
China Yangtze Power (600900.SS): Raising target price on higher 3Q07 generation/investment income
Datang Int'l Power Generation (0991.HK): Utilization recovery likely offset by rising coal costs in 3Q07 results
Tianjin Capital (H) (1065.HK): Flat 3Q07 net profit growth appears to be due to rising cost pressure