True -- but HNP's ties to the government are very strong.
I can't get over the ADR vs. the Chinese listing. The valuation difference between the two are out of wack right now. I read that HNP went up last week 10% (the daily market cap on % increase), and then the ADR goes down 10% plus. It doesn't make any sense.
I don't really understand the current slump in HNP. China even halted coal prices for 6 months. This combined with the fact that China raised electricity prices by 18% means that HNP is paying less input cost and now is charging more. That just seems like a recipe for success to me. The other thing going for HNP is the fact that the dollar is droping like a rock compared to Yuan, yet HNP is trading at a higher multiple in China then it is in the US. Weak dollar, lower input cost, higher prices, and a P/E of less than 11 should mean this stock should be going up. Even the simple act of buying the ADR and selling it in China should lead to a price increase.
great buying opportunity today. I bought some at 32.50 today. Very happy with that buy we will see but i feel by years end I will be in the black on this one..good luck as for today I do not see any news volume was alittle higher then average but at least not through the roof, then that would be a bad sign..