Asia Pacific Equity Research
14 February 2008

pdf

Contents
Recommendation/Forecast Changes
Huadian Power International - H (Underweight), Edmond Lee, CFA
Size of acquisition slightly smaller than expected; upside outweighed by
coal cost hike
Results and Company Views
Baidu.com (Overweight), Dick Wei
After chatting with distributors post CNY holiday, a bit more cautious on
1Q08 guidance - ALERT
CNOOC (Overweight), Brynjar Eirik Bustnes
Total's result presentation on CNOOC's Nigeria adventure - ALERT
JPMorgan Daily Valuations