Nomad Investors

C Suisse: CHINA SHENHUA(01088.HK) Kept Outperform on In-line Results Credit Suisse stated in its research report that CHINA SHENHUA(01088.HK)    -0.770 (-3.802%)    Short selling $20.12M; Ratio 3.584%   's 2017 net profit jumped 92% year on year to RMB47.8 billion, in-line with its estimates, mainly propelled by strong coal prices. DPS was 91 fen, equivalent to a payout ratio of 38%. The broker maintained CHINA SHENHUA rated Outperform at the target price $23, given its resilient balance sheet, cash flow and dividend yield.

HSBC downgrades Yue Yuen Ind (00551) to "hold"   HSBC Global Research maintained its target price for Yue Yuen Industrial (00551) at HK$35.9, but downgraded its rating to "hold" from "buy" on valuation.   After a good run in the share price since troughing in November-2017, the research house now sees limited catalysts in 2018. HSBC turned cautious on the OEM business performance  given (1) soft top line: 2-month 2018 sales growth turned negative; (2) low margin  visibility: HSBC continues to believe more automation and vertical integration will help  to boost...

KWG PROPERTY: Div Payout Held at 30-40% for Years Kong Jian Min, the Chairman of KWG PROPERTY (01813.HK)    -0.860 (-7.376%)    Short selling $15.93M; Ratio 9.752%   , said at the press conference that the financial condition of the company is healthy. Tsui Kam Tim, the CFO of the company, mentioned that the dividend payout of the company has been maintained at 30-40% in past few years, stressing on stable dividend of the company.

C Suisse: CHINA TAIPING (00966.HK) 2017 Results Robust; Rated Outperform

Moody's Upgrades TENCENT Credit Rating to A1 with Stable Outlook  19.400 (-4.415%)    

HSI Plummets 761 Pts; TENCENT Dives Over 4% 2018/03/23 16:26      SHORT SELL      STOCK INFO  Short selling $3.87B; Ratio 3.068%    

Greenheart Group (0094) sees turnaround to profit for FY2017  Greenheart Group (00094) said it expects to  turnaround and record an improvement in both consolidated profit after tax and the net  profit attributable to the shareholders for the financial year ended 31 December 2017 as  compared to the previous financial year.   Such estimated improvement in results was mainly attributable to a substantial fair value gain on the New Zealand plantation forest assets of about HK$130.8 million for 2017 (2016: HK$65.11 million), as a result of the increased forecasted selling price,  reflecting...

HSBC trims China Life (02628) to HK$26  HSBC Global Research trimmed its target price for  China Life Insurance (02628) to HK$26 from HK$28, and reiterated its "hold" rating.   The research house said China Life's EV of RMB734bn implies 13% 2017 growth. But NBV of RMB60.1bn (implying 22% 2017 growth) was 2% below HSBC's expectations. Its 2H agency  margin improvement was not as significant as historically, which HSBC believes is due to a higher proportion of lower margin savings products.   Management has been building a "Technology driven China Life" since 2015. It...

UBS lifts CR Beer (00291) to HK$40.06 UBS Global Research lifted its target price for  China Resources Beer (CRB)(00291) to HK$40.06 from HK$36.43, and reiterated its "buy" rating.   The research house said CRB's strong 2H 2017 results reinforced its positive investment thesisfor China's brewery sector. Its recurring NP/EBITDA (stripping out non-cash impairment losses) of RMB1,914mn/RMB4,296mn were 8%/7% ahead of UBS's estimate, due to  OPEX rationalization (~5,000 headcount cuts) and mix upgrades offsetting input cost inflation.   UBS said the launch of Super X under CRB's Yongchuang brand last wee...

HSBC lifts Li Ning (02331) to HK$9.1 HSBC Global Research lifted its target price for Li Ning (02331) to HK$9.1 from HK$7.7, and reiterated its "buy" rating as it remains confident about continued market share and margin recovery.   The research house sees room for the shares to re-rate further in 2018 on the back of improving SSSG, stronger future orders, and potential dividend.   HSBC raised its earnings forecast by 5%-9% for FY2018/19 driven by 2-5% higher revenue  and improved operating leverage. It forecast sales to reach RMB10.2bn, above its  historical peak of RM...

HSBC lifts Li Ning (02331) to HK$9.1 HSBC Global Research lifted its target price for Li Ning (02331) to HK$9.1 from HK$7.7, and reiterated its "buy" rating as it remains confident about continued market share and margin recovery.   The research house sees room for the shares to re-rate further in 2018 on the back of improving SSSG, stronger future orders, and potential dividend.   HSBC raised its earnings forecast by 5%-9% for FY2018/19 driven by 2-5% higher revenue  and improved operating leverage. It forecast sales to reach RMB10.2bn, above its  historical peak of RM...

China Res Gas year net up 11% to HK$3.65bn; div HK40 cts  China Resources Gas (01193) said its profit  attributable to owners for the year ended 31 December 2017 rose 11.1% year-on-year to HK$3,654 million.   Basic earnings per share were HK$1.68.   Turnover amounted to HK$39,838 million, an increase of 21% from a year earlier.   The Group's overall gross profit margin was 29.9%, representing a decrease of 4.1 percentage points as compared with the last year. The decrease in gross profit margin was mainly due to the inability or delay to fully pass through the gas sourc...

LVGEM China (0095) year net up 29% to Rmb1.04bn; div HK5 cts LVGEM (China) Real Estate Investment (00095) said  its profit attributable to owners for the year ended 31 December 2017 rose 29.1%  year-on-year to Rmb1,035 million.   Basic and diluted earnings per share were Rmb22.06 cents and Rmb12.89 cents.   Revenue amounted to Rmb2,968 million, a decrease of 35.3% from a year earlier.   Gross profit fell 15.6% year-on-year to Rmb1,938 million. Gross profit margin increased to 65.3% from 50% in 2016, which was mainly attributable to the revenue from property development and sales havin...

Boyaa (00434) year net up 15% to Rmb243m; no div  Boyaa Interactive (00434) said its profit  attributable to owners for the year ended 31 December 2017 rose 15.1% year-on-year to Rmb243 million.   Basic and diluted earnings per share were Rmb35.42 cents and Rmb34.24 cents.   Revenue amounted to Rmb736 million, a decrease of 1.3% from a year earlier.   Gross profit fell 3.1% year-on-year to Rmb457 million. Gross profit margin dropped to 62.2% from 63.3% in 2016.   No final dividend will be distributed.

          Short Selling Turnover (Main Board) up to day close(2)                                           Turnover   CODE   NAME OF STOCK               (SH)            ($) --------------------------------------------------------    1066  WEIGAO GROUP             336,000      1,741,440    1068  YURUN FOOD           ...