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<Research Report>M Stanley's Top-down Screening for H-Shrs Most Benefitted from SOE Reforms (Table)
Recommend
75
Positive
147
Negative
89
Morgan Stanley has released a report to shortlist the H-shares most benefitted from SOE reforms under the broker's top-down criteria as follows:

Shares|Projected EPS growth 2023|Projected EPS growth 2024
CHINA TELECOM (00728.HK)|12%|11%
PETROCHINA (00857.HK)|-3%|8%
CNOOC (00883.HK)|-19%|3%
CHINA RAILWAY (00390.HK)|14%|11%
CHINA RAIL CONS (01186.HK)|16%|16%
ZIJIN MINING (02899.HK)|27%|9%
CONCH CEMENT (00914.HK)|10%|-6%
JIANGXI COPPER (00358.HK)|9%|2%
CNBM (03323.HK)|-3%|15%
CHINA OVERSEAS (00688.HK)|6%|9%
CHINA OVS PPT (02669.HK)|30%|29%
POLY PPT SER (06049.HK)|22%|22%

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The following SOEs still meet the top-down stock screening criteria, but are relatively less relevant to the SOE reform:

Shares|Projected EPS growth 2023|Projected EPS growth 2024
NEXTEER (01316.HK)|190%|13%
CHINA RES BEER (00291.HK)|24%|24%
MENGNIU DAIRY (02319.HK)|14%|14%
CHINA FOODS (00506.HK)|11%|12%
SH PHARMA (02607.HK)|25%|4%
CHINARES PHARMA (03320.HK)|21%|10%
TONGRENTANGCM (03613.HK)|15%|10%
LENOVO GROUP (00992.HK)|-21%|-5%



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