Daily Insights20080708

1. Changsha Zoomlion Heavy Industry Science & Technology
Development Co (000157) --- maintain "ADD"
Considering the big slumps in the company's stocks recently, we maintain
our "ADD" rating.
2. Miracle Logistics System Engineering (002009): ADD is maintained
We will further follow company's alliance with Shanghai Electric and
process of integration of other parts so that the rating will be timely adjusted
to BUY. The current share price is undervalued, therefore we maintain our
earnings forecast.
3. China Oilfield Services (601808): review of its acquisition of
Norway's Awilco
We expect the 2008 EEPS of COSL to be about 0.80 yuan and maintain
"ADD" given the high prosperity of oilfield services providers in the context
of high oil price and the sound growth potential of the company.
4. Rosy earnings outlook for construction sector: Saima and CSG
forecast 1H profits up
We attribute CSG growth to higher capacity in engineering glass line. The
poly-silicon production line with designed annual capacity of 1500T will be
put into production at end-2008 and is expected to contribute to rapid
growth in 2009.
5. Comments on stock-index futures
Breaking news
􀂾 Policy balance between inflation, growth sparks debate in China
􀂾 China's business climate index continues to drop in Q2
􀂾 China's environment authority highlights 14 industries for tight
supervision