Category: Money Tips Date: 2006-04-27
Source: Bo Star Investments Authors: Zhu Huiling
Company is the leading power industry enterprises, wholly owned 16 operating power plants, controlling 12 power companies, the shares of four power companies. Of its power generation business is widely distributed in the Northeast Power Grid, the North China Power Grid, the Northwest power grid, East China Power Grid, Central China Power Grid and China Southern Power Grid. As of September 1, 2006, the company has an interest to reach 25057 MW of generation capacity. The company is also China's largest listed power company, and successively in 1994, 1998 and 2001 in New York, Hong Kong and Shanghai listing of three places. The company has strong financial strength, substantial and stable profits, through the acquisition and development, successfully achieved the growth of enterprises, from 2001 to 2005, average annual dividend payments by up to 0.36 yuan per share, which totaled 1.07 yuan in cash dividends (tax included), is a typical blue-chip stocks.
Report of 2006 shows that the top five positions in circulation A total of 11846 million shareholders, representing 18.22% ratio of outstanding shares, of which New positions 3580 Anshun Fund shares in circulation for the company's largest shareholders A, New QFII - UBS, CITIGROUP positions were 1483 shares, 1226 shares. As of March 31, 2006 Fund's investment portfolio shows that the fund holds 9057.40 million total outstanding shares, representing 18.11% shares in circulation A compared with the fourth quarter of 2005 holdings 1592.06 million, is still a typical Awkwardness of Fund. Secondary market, the stock in mid-2004 large-scale ex-dividend, the stock price was right posted Zhubo trend, after more than two years of continuous adjustment, the unit recently received support in the bottom 4.26 yuan, the price built into the repeated shocks at the end of phase. Short-term sudden heavy volume start, middle highlighting investment value, investors may be bargain-hunting close attention.
Historical Information: G Huaneng (600011): H share price of 5.7 Hong Kong dollars upside down 20%! May 7, 2006
Source: Chase Securities Research
JP Morgan Chase said, A shares over H shares and more investment value! With international standards, the value of re-discovery is the A-share market of the most enduring investment theme. G Maanshan Iron & Steel (600808), G Shen Gaosu (600548), G Anshan (000898), etc., it is in the midst of the process, the A share and H share prices under the premise upside down prices, have soared. Then the next one with international standards, prices are varieties of what is upside down? Huaneng G (600011), as the A-share market power first blue-chip, the latest closing price of 4.79 yuan, below the H share price of 5.7 Hong Kong dollars 20%! G Anshan Iron and Steel is expected to be the next one.
Statistics show that after the company's stock price change on the latest closing price of 4.79 yuan. The G Huaneng (600011) H-shares of Huaneng Power International (HK9002) Latest Hong Kong dollar prices in the vicinity of 5.7, which means that Huaneng Power International A-share price below the H share price 20%! We know that with international standards is a trend, A-share market reason to keep up, one of the most important reason is that H shares led. If G Anshan Iron and Steel (000898), G Maanshan Iron & Steel (600808), G Shen Gaosu (600,548), etc., it is in H shares continued to rise, driven, A shares have continuously strengthened. The reason is simple, foreign bullish H shares, there is no reason not to buy cheaper through the QFII channel A-shares! Therefore, A-share and H share prices fully converge, perhaps a matter of time. The G Huaneng (600011), currently the latest closing price of A shares less than the H share price 20 percent, in the midst of the process, the arbitrage opportunity is self-evident.
The same time, Huaneng Power International is currently China's largest independent power companies. The interests of the company now has installed capacity reached 23.32 million kilowatts, while the domestic rankings, followed by a listed company Yangtze Power, and the interests of GD Power capacity were only 6.91 million kilowatts and 566 kilowatts. At the same time as the one in New York and Hong Kong and Shanghai-listed company, Huaneng Power International because of its power plants are mainly distributed in China's southeast coastal economic developed areas and for international and domestic institutional investors are favored, in the latest rankings of shareholders, H or izon A sse t M an agem en t, In c has 8735 million outstanding shares first place ranking, while the K in e tic s A sse t M an agem en t In c Zeyi 3317 million came in fifth place, which The two asset management companies are purchased through the Hong Kong H-share market. So in the end the company worth?
Changes in the company stock before the Huaneng Group and Hebei Provincial Construction Investment Corporation, Jiangsu Province Investment Management Co., Ltd. and other corporate shareholders signed "Share Transfer Agreement", the total number of acquisitions of non-tradable shares to 1.114 billion shares, accounting for the company's total share capital of of 9.24%, the price of 4.09 yuan, 4.556 billion yuan of funds to spend. Major shareholders such a big collection of original capital stock, only to point out, the company's intrinsic value far exceeds the net asset prices and holdings of major shareholders is illustrated in the company's long-term operation and appreciation of the confidence.
The latest closing stock price of 4.79 yuan, below the H share price of 20%. Company as China's largest independent power company whose shares have no reason to the long-term slump. G Maanshan Iron & Steel (600808), G Shen Gaosu (600548), G Anshan (000898), etc., it is in A and H share price share price against the backdrop of a serious inversion have soared. The G Huaneng (600011) with international standards, perhaps a matter of time, we may wait and see.
