POWER ASSETS HOLDING (6.HK) : N: 1H13 IN LINE GROWTH STEMS FROM UK
汇丰银行(中国)有限公司2013-07-25
1H13 net profit HKD4,772m, +10% yoy, 44% of HSBC FY13eHKD10,833m (vs 45% 1H/FY in FY11/12) Decreased utilization hours of Zhuhai power plant to reflect1H major overhaul; updated currency rates and estimates Maintain Neutral, TP decreased to HKD71 from HKD72based on SOTP