China's power favoured a slightly lower-than-high target of HK $3.17

After the parent company plans to implement nearly 4.5 billion yuan of hydropower assets injected into the business and profit prospects of the Chinese power, the stock price this morning favoured a half-day decline of 0.38% to HK $2.61, deal 7.92 million shares.　　The report said that the unit was given a buy rating and the target price from HK $2.97 to HK $3.17, equivalent to 14.6 times times the expected P/E or 1.2 per cent of the market rate, at a premium of 21%. The diversification of electric power in China will reduce the risk of the company taking on the price fluctuation of coal.　　And in a recession, hydropower is more defensive than thermal power. Great fortune estimated that the five-ling 09-year net profit is 400 million yuan, assuming that the acquisition will be completed in early July, the five-ling profit contribution will lead to China's electricity earnings per share increase of 22%, higher than the diluted impact of the new issue.