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HSBC said in a report that JNCEC (00579.HK)  +0.050 (+1.534%)    Short selling $1.87M; Ratio 38.100%   is playing a leading role in the natural gas power market in Beijing, and the company's earnings growth is strong with the government's support and capacity expansion. The bank said the stock is currently trading at 7.8x P/E, 1.2x P/B, with dividend yield of 17%, showing a good value.

However, the bank lowered the company's 2015/16 EPS forecasts by 5.3% and maintained the Overweight rating, with target price reduced from $5.5 to $5.3.

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