Heng Ding Industrial rapid increase of 8% Citigroup increased the target price of more than 6.51 yuan

Heng Ding industry this morning a sharp rally, the share price of half a sudden rise 8.36% to 6.35 Hong Kong dollars, deal 46.45 million shares.　　Citigroup issued a report saying that it maintained its buying rating, with a sharp rise in target prices from HK $2.75 to HK $6.51, a 2.5% per cent premium over market prices. Citi, which has raised the price of coking coal by 4% and 24% per cent for the 09-10 fiscal year, is expected to increase 18% to 24% per cent, according to a strong demand for coking coal that is strongly supported by robust steel demand and a strong downside risk. Keep sales expectations unchanged.　　But the company is expected to have potential upside if it raises its start-up rate and acquires operating assets. Citigroup also said market supplies could tighten in the second half of 09, as supply is stable and construction activity accelerates in China. As the credit environment is better than the second half of 08, the management of Heng Ding industry has also put the acquisition back on the agenda.