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    Du Pont AnalysisROEProfit MarginAsset TurnoverEquity MultiplierCurrent Year7.669.60.081.4Previous Year9.554.40.131.4

    YearRevenue GrowthDec 1319.4Dec 1212.1Dec 112.4

    Arun Valley Hydropower Development increases 1.7%, 2 days' volume in a day 17 July, 2014 15:00 NPT

    07/17/2014

    NEPALESE DAILY STOCK REPORT

    Arun Valley Hydropower Development Company Limited (NEPSE:AHPC), Nepal's 4th largest hydropower company by market cap, increased NPR9.0 (or 1.7%) to close at NPR540.0. Trading volume was 2.3 times average. Compared with the Nepse Index which rose 8.1 points (or 0.8%) in the day, this represented a relative price increase of 0.9%.

    Central Hydropower in its biggest trailing week gain for 2 months 17 July, 2014 17:30 ICT

    07/17/2014

    VIETNAMESE DAILY STOCK REPORT

    Central Hydropower JSC (HNU:CHP), Vietnam's 3rd largest energy company by market cap, increased VND200.0 (or 1.8%) to close at VND11,300.0. In the past week the shares have lifted 3.7%, the biggest trailing week gain since May 28. Compared with the VN Index which fell 2.0 points (or 0.3%) in the day, this represented a relative price increase of 2.1%.

    Haitian Hydropower International drops 1.4% on high volatility 17 July, 2014 17:00 HKT

    07/17/2014

    HONG KONG DAILY STOCK REPORT

    Haitian Hydropower International Ltd. (HK:08261) traded between an intraday low of 67.0c and a high of 73.0c, suggesting a trading opportunity between peaks and troughs. The average daily volatility of 4.4% places the stock in the 2nd quartile in the market meaning it is moderately volatile. Today its volatility (highest price minus lowest price/lowest price) of 9.0% was 2.0 times the average daily volatility of 4.4%, up from 6.0% on Wednesday and 4.4% on Tuesday. A price fall on high volatility is a bearish signal. The stock price decreased 1.0c (or 1.4%) to close at 70.0c. Compared with the Hang Seng Index which fell 2.4 points (or 0.01%) in the day, this represented a relative price change of -1.4%.

    China Nuclear Engineering Group enters the hydroelectric power industry through acquisition of Xinhua's hydroelectric power business

    07/17/2014

    China Nuclear Engineering Group recently entered the hydroelectric power industry by indirectly buying a 7.48 per cent interest in Chongqing Three Gorges Water Conservancy and Electric Power through the direct acquisition of a 55 per cent stake in Xinhua Water Resources and Hydroelectric Investment Corporation from Xinhua Holdings. Chongqing Three Gorges Water Conservancy and Electric Power reported revenue and net profit of 1.3 billion yuan (approx. US$209 million) and 104 million yuan (approx. US$16.7 million) for 2013, up 44.8 per cent and 26.7 per cent year on year, respectively.

    Vinh Son-Song Hinh Hydropower in its biggest trailing week loss for 3 weeks 17 July, 2014 17:30 ICT

    07/17/2014

    VIETNAMESE DAILY STOCK REPORT

    Vinh Son - Song Hinh Hydropower Joint Stock Company (HOSE:VSH), Vietnam's 2nd largest electric company by market cap, decreased VND200.0 (or 1.3%) to close at VND15,400.0. In the past week the shares have dropped 3.1%, the biggest trailing week fall since July 02. Compared with the VN Index which fell 2.0 points (or 0.3%) in the day, this represented a relative price change of -0.9%.

    BEARISH SIGNALS
    Fundamentals:
    + As per the Du Pont analysis, Return on Equity is less than stellar at 7.6%. This is computed as net profit margin of 69.6% times asset turnover [sales/assets] of 0.08 times leverage factor [total assets/shareholders' equity] of 1.4. Also, this has deteriorated from 9.5% last year.

    F L C Hydro Power accelerates decline: down 12.7% in 3 days 17 July, 2014 03:30 IST

    07/17/2014

    SRI LANKAN DAILY STOCK REPORT

    F L C Hydro Power PLC (CSE:HPFL), tumbled 80.0c (or 12.7%) over the past three trading days, after falling 1.6% on Tuesday, 3.2% on Wednesday and 8.3% on Thursday to close at LKR5.50.

    Guangdong No.2 Hydropower Engineering - A Share jumps 8.6% on high volume 17 July, 2014 15:30 CST

    07/17/2014

    CHINESE DAILY STOCK REPORT

    Guangdong No.2 Hydropower Engineering Co - A Share (SZ:002060), Shenzhen's 31st largest energy company by market cap, jumped 45.0 fen (or 8.6%) to close at CNY5.71, ending a two-day streak of losses. Compared with the SZSE 100 Index which fell 21.8 points (or 0.7%) in the day, this represented a relative price increase of 9.3%. This has been propped up by high volume of 4.4 times average.

    BULLISH SIGNALS
    Fundamentals:
    + Tobin's Q Ratio, defined as MCap divided by Total Assets, is 0.3. Compared with the rest of the market the stock is undervalued and ranks in the top 5% of stock by value of Q Ratio.
    + The total dividend paid over the past 12 months is up 50.0% to 3.0 fen per share, comprising one dividend of 3.0 fen.
    + Revenue growth rate is positive and has seen consecutive rises in recent years. [Year ended, all figures in %]

    ISDN to take stake in Indonesian hydropower projects

    07/16/2014

    ENGINEERING solutions provider ISDN Holdings is creating a portfolio of mini hydropower projects in Indonesia with an Indonesian partner, PT Jodo Alam Titra (PT Jodo).

    Can Don Hydro Power increases 0.8% on firm volume 16 July, 2014 17:30 ICT

    07/16/2014

    VIETNAMESE DAILY STOCK REPORT

    Can Don Hydro Power Joint Stock Company (HOSE:SJD), Vietnam's 4th largest electric company by market cap, increased VND200.0 (or 0.8%) to close at VND24,700.0. Compared with the VN Index which rose 2.7 points (or 0.5%) in the day, this represented a relative price increase of 0.4%. This has been propped up by firm volume of 1.6 times average.

    Indsil Hydro Power & Manganese falls for a second consecutive day, a two-day fall of 1.3% 16 July, 2014 15:30 IST

    07/16/2014

    INDIAN DAILY STOCK REPORT

    Indsil Hydro Power & Manganese Ltd. (BSE:522165), India's 51st largest iron & steel/intermediate products company by market cap, fell Rs0.25 (or 0.7%) for a second consecutive day on Wednesday bringing its two-day fall to Rs0.45 or 1.3%. The stock last traded at Rs35.45. Compared with the BSE Sensex Index which rose 542.7 points (or 2.17%) in the two days, this represented a relative price change of -3.4%. The volume was 0.8 times the average trading of 8,993 shares.

    BEARISH SIGNALS
    Fundamentals:
    + Total Liabilities/EBITDA of 16.3 which compares unfavourably with the Joseph Piotroski benchmark of 5.
    + Net profit margin has averaged 7.8% in the last 3 years. This is lower than the sector average of 8.2% and suggests a low margin of safety.
    + The total dividend paid over the past 12 months is down 50.0% to Rs0.50 per share, comprising one final dividend of Rs0.50.

    Paraguay readies for greater Yacyretá offtake

    07/16/2014

    The EBY joint venture that operates the Yacyretá hydroelectric dam on the border between Argentina and Paraguay hired Mitsubishi to increase dispatch capacity to the latter country.

    AlloyMTD withdraws Isabela hydropower proposal

    07/16/2014

    ALLOYMTD Group of Malaysia, through its local unit MTD Philippines, Inc., canceled plans to invest about P12 billion in 10 run-of-river mini- hydropower plants in Isabela City, as it shifts its focus to big infrastructure projects.

    Vietnam's Quang Nam residents fear frequent quakes

    07/16/2014

    QUANG NAM, July 16 -- Frequent earthquakes in the central province of Quang Nam's Bac Tra My District near the Song Tranh hydro-power plant have worried thousands of local people.

    Sichuan Minjiang Hydropower - A Share in 2nd daily rise, nears two-month high 16 July, 2014 15:30 CST

    07/16/2014

    CHINESE DAILY STOCK REPORT

    Sichuan Minjiang Hydropower Co., Ltd - A Share (SS:600131), Shanghai's 52nd largest energy company by market cap, extended its gains Wednesday, rising an additional 2.0 fen (or 0.5%) to trade at CNY4.09. The stock increased 0.5% on Tuesday bringing its 2-day rise to 1.0%. It is now approaching its 48-day high of CNY4.15. Compared with the SSE 180 Index which fell 8.1 points (or 0.2%) in the day, this represented a relative price increase of 0.7%.

    BULLISH SIGNALS
    Fundamentals:
    + Tobin's Q Ratio, defined as MCap divided by Total Assets, is 0.9. Compared with the rest of the market the stock is undervalued.

    Bosnia's Serb Republic opens concession tender for small hydropower plant

    07/16/2014

    Bosnia's Serb Republic has opened a tender to award concession for the construction and operation of 1.66 MW hydropower plant Gornje Pale, news service eKapija.ba reported quoting an energy ministry statement. The value of investments in the project is seen at BAM 4.85mn (EUR 2.5mn),

    Gornje Pale hydropower plant is planned to generate electricity of some 5.3 GWh a year and will be built on the Bistrica River in Pale municipality (south-eastern Bosnia).

    The concession will be granted for a period up to 30 years from the date of signing of the concession agreement.

    All domestic and foreign companies which meet the requirements can participate in the tender.

    Deficit rains hit K'put hydel units' generation

    07/16/2014

    KORAPUT, July 17 -- With Koraput recording around 50 per cent deficit rainfall in the first half of July, power generation at Kolab and Balimela hydro electricity projects in the district has been hit, leading to power cuts.

    Naloi Hydropower keeps sliding: down 8.0% in 3 days 16 July, 2014 17:30 ICT

    07/16/2014

    VIETNAMESE DAILY STOCK REPORT

    Naloi Hydropower (HNX:NLC), Vietnam's 8th largest electric company by market cap, extended its slide Wednesday, shedding an additional VND700.0 (or 2.2%) to close at VND31,000.0. The shares have tumbled VND2,700.0 (or 8.0%) over the past three trading days. Compared with the VN Index which rose 7.4 points (or 1.26%) in the three days, this represented a relative price change of -9.3%.

    BEARISH SIGNALS
    Fundamentals:
    + As per the Du Pont analysis, Return on Equity of 13.3% is lower than sector average of 13.7%. This is computed as net profit margin of 32.6% times asset turnover [sales/assets] of 0.39 times leverage factor [total assets/shareholders' equity] of 1.0.

    Central Hydropower decreases 0.9% on low volume 16 July, 2014 17:30 ICT

    07/16/2014

    VIETNAMESE DAILY STOCK REPORT

    Central Hydropower JSC (HNU:CHP), Vietnam's 4th largest energy company by market cap, decreased VND100.0 (or 0.9%) to close at VND11,100.0. Compared with the VN Index which rose 2.7 points (or 0.5%) in the day, this represented a relative price change of -1.4%. The volume was 0.2 times the average trading of 21,645 shares.

    BEARISH SIGNALS
    Fundamentals:
    Overvaluation [compared with sector average]:
    + Price/Sales of 2.5 [0.6].

    Eurasian Development Bank joins ADB project on Toktogul HPP rehabilitation

    07/16/2014

    Rehabilitation of the Toktogul hydropower plant is expected to be co-financed by the Eurasian Development Bank and Asian Development Bank. This information came from the meeting of experts of Eurasian Development Bank with ADB representatives, EDB said.

    Taj's assertion on hydro power project

    07/16/2014

    SRINAGAR, July 17 -- The Government is tight-lipped about a controversy that erupted following senior minister in the Omar Abdullah led Government's assertion that the hydro power project inaugurated by Prime Minister Narendra Modi in north Kashmir's Uri sector was "illegal".

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