Estimate/Price Target Revisions
Jinke Property, 000656.SZ Michael Li p.1
Lowering earnings estimates and PT
12-month rating: Neutral (Unchanged), FY13E Rmb1.50=>Rmb1.47, FY14E
Rmb1.88=>Rmb1.75, PT Prior: Rmb15.58/US$2.55 => Rmb12.50/US$2.04, Market
cap. Rmb13.5bn/US$2.20bn
Company Update
Anhui Heli, 600761.SS Weiqi Fu p.6
H1 earnings overshoot, lift PT to Rmb10.5
12-month rating: Buy (Unchanged), FY13E Rmb0.80=>Rmb0.87, FY14E
Rmb0.92=>Rmb0.99, PT Prior: Rmb9.60/US$1.57 => Rmb10.50/US$1.72, Market
cap. Rmb4.77bn/US$0.78bn
Shougang Resources, 0639.HK Ghee Peh p.11
Stable H213 as coking coal price rises
12-month rating: Buy (Unchanged), FY13E Rmb0.20, FY14E Rmb0.21, PT
HK$3.56/US$0.46, Market cap. HK$14.6bn/US$1.89bn
Industry Update
Market Comment Li Chen p.17
China A-Share Strategy - Overseas perspective: If QE is gone, can technology stocks’
prosperity continue?
Market Comment Li Chen p.39
China A-Share Strategy - Finger on the pulse
Consumer Services
Xin Chen p.42
China Tourism Sector - Short-term Golden Week + medium/long-term positives, sector
valuations rising
Real Estate
Kim Wright, CFA p.55
UBS Global I/O®: Global Real Estate - How best to position for a yield steepening
Transportation Services
Robin Xu p.86
China Port Sector - Mixed August growth across regions