CHI PEOPLE HOLD (00681.HK) +0.007 (+4.000%) issued a positive profit alert expecting that the company's profit for the six months ended September 2014 will increase substantially when compared to the same period of last year. The substantial increase in profit is mainly attributable to the increase in profit from operating activities; the increase in share of profits of joint ventures and associates; and the absence of non-operating loss during the reporting period.
CLSA lowers Beijing Ent Water (00371) to HK$6 CLSA cut its target price for Beijing Enterprises Water (BEW)(00371) by 8% to HK$6, and reiterated its "buy" rating. The research house said BEW's share price has dropped 14% in the last two trading days. First, the 2017 earnings results are below expectations. Second, management is guiding for 20-25% net profit growth for 2018, versus 30% in the past few years. Management now has a cautious approach to water PPP (public-private partnership) projects, which is not necessarily bad. CLSA cut its 2018-19 earnings forecasts by 19%. At the current level, it believes many of the negatives are already priced-in.
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