RECENTLY PUBLISHED RESEARCH:

Datang International – 14 bn tons coal implies power for free, July 11

E-TON Solar Tech Co Ltd – Continues to shine, Jul 8

Hong Kong & China Gas – Still pricey, 07 Jul

Xinao Gas (2688.HK – HKD 13.20) – Still in the sweet spot

Power & Utilities – On-grid tariff raised 5%; worst is over, 03 Jul

Guangdong Investment Limited – We maintain our 1-Overweight rating, 01 Jul

Power & Utilities – Japan renewable energy policy update, 30 Jun

Yingli Green Energy – Enhanced visibility in 2H08 and 2009, 27 Jun

China Water Affairs Group Limited – Still waiting for catalysts to emerge, 26 Jun

Power & Utilities – Tariff hike/Coal control; Worst is over, 23 June

JA Solar Holdings Co., Ltd. – Share Gains Should Drive Outperformance, 16 Jun

Yingli Green Energy – Incremental polysilicon security for 09, 29 May

JA Solar Holdings Co., Ltd. – Raising PT on Improved Supply Outlook, 28 May

Towngas China Company – Asset injection may come later than 2009, 28 May

Huaneng Power International – Acquiring Tuas Power for LT benefit, 27 May

Suntech Power Holdings – Sprice target Announces Supply Agrmt with Shunda, 27 May

Yingli Green Energy – YGE Chairman personally invests in poly, 23 May

Guangdong Investment Limited – Water monopoly: low risk & steady growth, 22 May